Hollard Insurance Botswana has launched a new 100% motor vehicle insurance policy called Excess Buyback Cover.
Unlike the other motor vehicle insurance policies, Excess Buyback ensures that clients do not pay any extra money for their motor vehicle repairs.
Speaking at the policy launch in Francistown recently, Hollard Operations Executive, Paul Beka said this insurance cover gives vehicle owners complete peace of mind by removing headaches associated with sourcing excess funds to pay repairers.
“Excess Buyback policy makes it easier for a client in the event of a claim as he will not be required to contribute anything to the cost of the claim.
The policy covers any person who has a vehicle insurance which is covered comprehensively against fire and theft.
It will help the insured manage their cash flow,” said Beka
Beka went on to explain that clients will only be entitled yo claim three times a year.
“The amount payable is limited to the percentage of the market value or the sum insured as specified on the schedule of the policy,” he said.
Responding to a question from the audience Beka said there is no law that forces people to carry fire extinguishers in their private cars.
‘In my own observation when a car catches fire it is a total loss.
Even if you can use an extinguisher it will not help so I do not think it is necessary to have it in cars,’ he said.