When money's tight, you may be tempted to cut back on your short-term insurance. But before you replace a policy, even with one that provides the same level of cover or more benefit at a lower premium, make sure you understand how your excess is determined and if additional excesses apply.

Most complaints received by the Ombud for Financial Services Providers relate to short-term insurance, and many of these concern the excesses that apply to vehicle cover...

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