Improvements have been coming thick and fast at KT Insurance. So too have the 5-star Google Reviews and the positive customer feedback on our hard work of late, which we have thoroughly appreciated and are quite proud of!
There is one topic of less positive feedback that we’ve been hearing loud and clear though, and that’s been around our lack of excess options. Well, we’ve been listening while working behind the scenes, and we are pleased to announce that we will now be offering a number of excess options.
An insurance policy’s excess is the amount that a policyholder must pay as a contribution towards a claim. KT Insurance will now offer policyholders a broad range of excess options:
- Policies with a total sum insured below $100,000 will be able to select $500 as the minimum excess, with policies over $100,000 having a minimum excess of $750
- All policies will have excess options between $750 and $2,000 in increments of $250, with excesses also available between $2,000 and $5,000 in $500 increments
It’s worth noting that regardless of the excess option chosen, policyholders will still be eligible for our excess-free benefits, like cover for medical emergency assistance and animal strikes, and our flat-excess benefits, like awning and/or annexe cover with a flat $500 excess.
Examples of benefits at either end of the excess spectrum come to mind. For owners of higher-value RVs who are less concerned about small claims than the larger ‘What Ifs’, selecting the highest $5,000 excess would allow us to offer our lowest possible premium. Owners of lower-value RVs can pursue similar premium savings with a higher excess where previously a $500 excess was the only option, or they may choose a higher premium with a lower excess to minimise out-of-pocket expenses in the event of a claim.
Flexible excesses are nothing new in the insurance industry, but we are genuinely ecstatic to now offer this to KT Insurance customers. Existing customers will be offered our new excess options at renewal and customers purchasing new policies now have the ability to select the excess option that feels right for them.
Across all departments of KT Insurance, we genuinely do appreciate CMCA member feedback, which has been instrumental in our continued improvement. If you have any suggestions on how KT Insurance could better support your life on the open road, we would love to hear from you at info@ktinsurance.com.au or by calling 1300 261 261.