Not sure about short term insurance? Read on to help make up your mind.
Short Term Insurance Definition
Short term insurance refers to all types of insurance policies, except for life insurance.
- Property insurance
- Household insurance
- Vehicle insurance
- Travel insurance
- Personal liability insurance and
- Business insurance.
These policies are regarded as short term insurance and your insurance needs will change over time.
What is Short Term Insurance?
Insurance companies will tell you that short term insurance is only taken out for a period that you will need it. This is unlike life insurance.
Short term insurance gives you the opportunity to cover the financial risks of loss or damage to material possessions of yours and your dependants. Minus massive premiums.
Short Term Insurance South Africa
There are ample short term insurance companies in SA, including Momentum Insurance and Discovery short term insurance.
Simply put, the policy is an agreement between you and the short term insurer. It’s a binding agreement for a short period of time and can be flexible according to your personal circumstances.
Short Term Car Insurance South Africa
Short term insurance caters for people’s changing needs. So you can cover your assets minus long-term obligations to a car, home or particular way of life.
This is How it Works
Your monthly premiums will be calculated according to your personal risk profile.
So let’s say you want to insure your car with Momentum short term insurance. The insurer will consider your gender, age and driving record. The car’s value and where it is parked is also considered as well as whether or not you have any anti-theft devices. All these factors will contribute to how much you will pay. The greater the risk profile, the higher the premium.
Do You Really Need Short Term Insurance?
How could you not?
Insurance is a risk management system that we simply cannot live without in this day and age. Risks and accumulation of assets, valuables and property do indeed go hand in hand. The best way to avoid unforeseen and expensive financial crises is to take out insurance.
Essentially short term insurance is an incredibly valuable way of ensuring your security, your possessions and your wealth without any long-term commitment or scary premiums.
Comprehensive short term insurance is available from a wide range of insurers in South Africa. For a comparison and personalised quote, fill in the form on this page. Click “submit” and one of our short term insurance experts will get in touch as soon as possible.
You’re a click away from peace of mind and a protected pocket.
* Short term insurance in South Africa “Be Seen” concept from Momentum