Category Archives: Advice

Well Dressed, But Opening Yourself Up for Risk

Your high profile job probably requires that you look 100% polished at all times. Everyone has their brand preferences in clothes when it comes to looking a certain way. But if you’re buying Levis, Gucci, Hermes, Dior or Giorgio Armani, you’ll need insurance.

Your clothes, shoes, handbags and accessories could well see you stepping out in thousands of Rands worth of clothes. And in South Africa, you become hot property. If someone snatches your Louis Vuitton handbag of R7 000 from your shoulders, it can be devastating. That is because its contents are no doubt worth a small fortune too.

There are even some high-end shoes and bags which have celebrity endorsement. So these are collectors’ items and these can be valued far more than their original selling price.

Don’t Under-Value your Clothes

ClothesMany women have no idea about the value of the clothes in their wardrobe and the truth is their clothes could end up being under-valued. Let’s say your clothes come from the top brands and you own a few pieces. It will be necessary to have them covered against theft, fires and floods. The only thing is that if you have homeowners insurance for instance, you may find that it isn’t enough to cover your clothes.

Because of the exorbitant prices of designer clothes, your homeowners policy will probably not cover your clothing. When the amount is insufficient, you will need to consider a separate policy to insure your clothing collections.

Travel the World and You’re Still Insured

General Manager of Elite Risk Acceptances, Tarina Vlok says that walking around with the latest luxury clothing items puts you at risk. The Elite policy has an automatic extension under the contents cover, and wherever you are in the world, the clothes and handbags you wear are covered.

Vlok also went on to say that you need to insure your items for their replacement value and not the purchase price. This is to make sure that you’re not underinsured.

No Exclusions with Elite’s Policy

Then again women need to take note that there are some clothing items that may not be covered under their policies. There are some insurers who for instance, won’t cover furs or leather jackets under the general all risks section. This is why it is worthwhile looking at what the Elite policy offers as they don’t carry exclusions like this.

You always have to look beyond just actually covering your items. What about if you were stuck along the road in South Africa wearing your luxury clothing. You’ll be murdered for them, and that is why is it important to also have good car insurance. This is insurance which offers value added services such as roadside assistance.

The beauty about insurance from Elite is that they have this roadside assistance embedded into their policies. The app they provide allows clients to keep tabs on where the tow truck is and when it will arrive.

Vlok continued to say that no matter what items you regard as valuable – items you yourself could never replace – these should be insured.

Check your homeowners policy because chances are the amount covering your clothes is insufficient. Then it becomes important to look at getting a separate policy to insure these items, and Elite offers this insurance plus additional value.

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How a guard dog may complicate a homeowner’s liability

Many homeowners and tenants keep a guard dog on their properties. It’s important to know that they are likely to be liable if a guard dog attacks a third party. This is according to Johannes du Plessis, Legal Advisor at RBS (Risk Benefit Solutions Pty Ltd), a Financial Services Provider. He says that both lawful visitors and unlawful trespassers have the right to claim damages from homeowners or tenants if a guard dog causes injury to them on the property.

Guard Dog Complications

“Owners and occupiers of properties or buildings where dangerous conditions exist, have a legal duty to prevent injury to anyone who enters the premises. They can be liable for damages caused from a dog bite by a pet to a lawful visitor if it behaved in a manner that is contrary to how a well-behaved dog should behave. In other words, if they Guard Dogattack without provocation. This also means that there does not have to be fault, intent or negligence on the part of the owner of the dog for liability to a lawful visitor.”

Du Plessis adds that if it can be reasonably expected of the owner or tenant to anticipate the presence of an unlawful trespasser, they are also legally required to take precautions to prevent injury to the unlawful trespasser. “According to legal precedent, owners and tenants in areas not desolate and properties in densely populated districts are expected to anticipate the presence of an unlawful trespasser. Precautions would include the owner or tenant affixing a clearly visible warning notice at the entrance, and that any dogs are kept in such a way that trespassers are able to keep out of their way.”

Guard Dog Owners

The owner or tenant could be held civilly liable to repay damages to the lawful visitor or unlawful trespasser. An owner or tenant may even be criminally liable if in an extreme case the animal kills a person, according to Du Plessis.

“In one case, a trespasser attempting to escape from an animal tore his Achilles tendon and as a result suffered damages to the sum of R6 750 000. An owner or tenant held liable for such a large amount could effectively be bankrupted immediately.”

Candice Bosman, Head of Personal Lines Insurance at RBS, adds that this is why it is vital to have adequate homeowners’ liability insurance in place. “A liability policy will come into effect if you are held legally liable. Should you, for example, keep a highly aggressive dog on your property, but you do not provide the necessary fencing and warning signs, your liability policy may cover the damages if the dog jumps over the fence or if a person enters the premises and the dog bites a person.”

Critical Insurance

She says that homeowners’ liability cover is critical, even when one is not negligent. “Obviously, if you have put all the precautions in place, and an unlawful trespasser is attacked by your dog, you would not owe damages to the injured party. However, the unlawful trespasser may still put you through a court case and your liability policy may cover the legal costs during the trial.”

Bosman adds one piece of advice to homeowners and tenants who may find themselves in this situation. “Homeowners should never accept liability at the time of the incident. Should you, for example, promise to pay all the medical bills without agreement from your insurer, the insurer has the right to reject a claim. This will be based on the fact that you accepted liability and they will not be able to defend the matter in court.”

Lastly, Du Plessis states that protecting a property by means of a guard dog comes with risks, if one does not take the necessary precautions. “People are entitled to protect their property and families from trespassers however, the law expects everyone to do so in a reasonable manner. Proper notice of dogs must be displayed on the gates in a manner that is clearly visible to trespassers,” he concludes.

Use the form on this page to request a personal insurance quote

Santam Insurance for Cell Phones

If you have a history of being careless with your expensive cell phones you will need insurance.  This insurance will ensure that you’re never out of communication with the rest of the world.

Of course the cell phones of 2018 have amazing features with expensive hardware. There are some cell phones that are extremely expensive. In fact, without insurance, you would never be able to replace it if it incurred damage or someone stole it.

Insurance policies for cell phones

Policies vary significantly and there are policies that cover you for –

  • accidental damage
  • loss
  • unauthorised calls
  • valuable content on your phone
  • cell phone accessories

 

Santam offers insurance for cell phones. Their cell phone insurance compensates you for loss or damage to items such as your cell phone which you take with you when you leave your home.

People trust Santam because this South African financial services group has been around since Insurance for Cell Phones from Santam1918 already. Millions of South Africans over the last century have insured their goods with Santam, South Africa’s biggest short-term insurer. Today they are still a leading leading general insurer in the country.

Santam provides a diverse range of general insurance products and services, one of which is cell phone insurance.  They have a multi-product and a multichannel distribution offering which is able to ensure clients have comprehensive cover through lots of value-added products.

Useful information on Cell Phone Insurance

On Santam’s website you’ll see they offer useful information on the products they insure. They offer advise and tips on how best to get cell phone insurance. When it comes to tablets and cell phones, Santam knows that these devices you very often carry them away from home.

You get a New Phone or Receive Cash

This means you’ll need an all-risks policy, They advise their clients to check whether they have device cover under their unspecified all-risk insurance. Cell phones will need to be insured for their replacement value, and your device will either be replaced with a new one or you are paid out the full replacement value.

Santam always advises you to check your policy for exclusions and requirements and to also bear in mind that there is an excess fee of R500 for cell phone claims.

Apart from comprehensive cover, Santam also offers Limited Cover which is cover for theft under your house contents for when your cell phone is stolen from your home. There is also SOS services included where you can get 6 free SOS services.

Cell Phone Accessories are also Covered

The financial services group wants to make sure that their customers have the right cover for their cell phones. They cover your smart phone as well as those necessary accessories such as head phones as well as power banks if they are specified in your home insurance policy.

Who can afford to pay full retail costs for a new cell phone when your has been stolen or damaged? Very few, and its why it’s worth talking to Santam about insuring your phone because then they will compensate you in the event of loss or damage. Request a quote from them for affordable cell phone insurance and peace of mind.

 

Please complete and submit the form on this page to get a cell phone insurance quote

 

 

Check Your Gutters – Make a Difference!

Gutters are more important than they may seem. These troughs divert rain runoff away from your house and prevent water from gathering at the foundation, which could cause serious problems.

If you notice water pooling near your home after a rain storm, that area may need gutters. When installing them, extend downspouts away from the house and, if possible, discharge water underground with PVC pipes to drain into the street.

Even better: if you can invest in a large plastic water container, you can direct the water from the roof into the container and use it to water your vegetable garden.

Clean Gutters

Clean and clear your gutters of debris regularly. If you notice that the gutter or downpipes are sagging or falling, you may need to replace the hardware that secures them to your home. LeGuttersaks can be repaired using a gutter sealant available at many hardware stores.

So, ensure your gutter system is effectively channeling water away from your home and keeping your foundation dry.

Aesthetic Appeal

There are not many ways you can easily upgrade the ‘look’ of your house at low cost. Yes, a lick of paint makes a huge difference. Another difference you can make is to get old gutters replaced with new aluminium guttering. This is a cheaper operation than you might imagine.

Simple tips like these can create a happier, healthier and more valuable home.

 

Get a home insurance quote on this page. Just complete and submit the form

 

 

Don’t let the big day leave you in debt*

The buds are in bloom and wedding season is in full swing. South African couples are taking advantage of the warmer weather to celebrate their commitments to one another. But while plenty of meticulous planning goes into the cake, the décor and the all-important guest list, many young couples fail to think beyond the big day itself. Debt may be looming.

According to a 2014-15 World Bank report, South Africans are the world’s biggest borrowers, and this is particularly true when it comes to matrimony, with many couples shelling out extravagant amounts for that perfect venue or highly sought-after photographer.

Caught in a Debt Trap

This can leave many a newly betrothed couple bogged down by debt during the initial stages of marriage, a situation that can be very difficult to escape from thanks to mounting inflation and the ever-present threat posed by currency exchange rates.

Trapped by Debt

But there is hope for couples looking to have their wedding cake and eat it. Turns out, teaming up with a partner has its benefits not only in life, but also for your bank account. Simply by pooling resources and consolidating assets, you and your partner can look to dial down the debt, particularly when it comes to insurance.

So how can you benefit from a more collaborative form of financing? Here are a few things to bear in mind before saying ‘I do’:

Insurance discounts

By registering yours and your partner’s assets under the same insurance policy, you can enjoy significant reductions in your monthly premiums. For instance, should you have two cars listed on an insurance plan rather than one, you can save over 25% on the cheaper premium, a discount that can represent a significant saving. Equally, by merging car and household contents insurance policies, you’ll be able to score similar discounts on the cheaper of the two.

Keep it current

Moving in together for the first time? Now that all your assets are under one roof, it’s important to ensure you list them under a single insurance plan, which could earn you significant premium reductions. It’s also vital that you update all relevant contact information and details of security arrangements, as the specifics of your new abode can have significant implications for your policy. For instance, if you’re moving from a free-standing home to a security complex, your lowered risk profile could mean reduced monthly premiums. So make sure all your information is up to date if you want to cut back on unnecessary expenses.

Think long-term

While envisioning an ending at the very start of a marriage might be difficult and unpleasant, it’s important that provision is made at the outset in the event of the death of either partner. Life insurance is a critical consideration for any married couple, as it can pay for funerals, estate taxes, settle debts, replace income, pay various expenses and provide a lump sum to cover living costs should circumstances require.

This becomes doubly important in the event that you’re looking to start a family, as it can provide a critical financial lifeline to children should either parent pass away.

While much emphasis is placed on the importance of the wedding day itself, it’s the days that follow that are most important for any married couple. As such, it’s vital that every marriage is entered into with eyes wide open, and with a keen understanding of the financial responsibilities and benefits that it entails.

* By: Nthabiseng Moloi, MiWay Head of Marketing & Brand at MiWay

MiWay is an Authorised Financial Services Provider (Licence no: 33970)

Why You Can’t Afford to be Underinsured

The recent storms in KwaZulu-Natal and Gauteng, the Krugersdorp tornado, the Knysna fires earlier this year – all these catastrophes serve as tragic reminders of the need to be properly insured.  Certainly, you should not be underinsured.

According to the executive mayor of the Knysna Municipality, Eleanore Bouw-Spies, 50% of the homes damaged by the wildfire were not insured.

With the continued threat of severe weather, one simply cannot afford to be underinsured or worse, uninsured

“Under-insurance occurs when there is a shortfall between the amount of cover selected and the actual replacement value of what is being insured. The replacement value of goods is what it would cost you, at the time of a claim, to replace all your belongings with similar brand new Do Not Be Underinsuredones,” says Graham Craggs, spokesperson for Budget Insurance.

To help ensure that you don’t find yourself underinsured for your home contents, Budget offers these easy and practical tips:

Don’t be Underinsured – Insurance Review Tips

  1. Review your policy at least once a year. Look at the amount you’re currently covered for and then follow steps two to nine.
  2. Out with the old, in with the new.  The replacement values of goods change over time so it is important to update your household inventory on a regular basis. That will ensure that any new items are included and to remove items that you no longer have. It doesn’t make sense to be paying to insure your old washing machine when you have just replaced it with a new one with a higher value.
  3. Update your home inventory. Once you know what’s come in and what’s gone out, you can update your inventory to ensure your current items are now reflected. Ask your insurer if they have an inventory list and use this to ensure you haven’t forgotten anything.
  4. Do some online pricing research or consult an expert.  This will help you determine the current replacement cost of items in your home. Make sure to be specific with the specs, especially when it comes to electronics, to ensure the prices you get are accurate. Remember that the replacement values of goods change over time so it’s important to keep these updated.
  5. Specialised items may need specialised cover. Certain items like stamp and coin collections, photographic equipment, antiques and paintings may require specific cover so check with your insurer what rules apply.
  6. Certain items require valuations. Ensure that you have valuations to prove the worth of jewellery and antiques in case of a claim.
  7. Update the value of your home contents.  Go through your inventory and update the values of each item. Then calculate your new home contents amount and notify your insurer.

Replacement Values

“Don’t underestimate the cost of replacing items to try and lower your monthly premiums because you could fall short if you ever need to make a claim. Similarly, avoid overestimating replacement values because this will result in you being over insured and you will be throwing money away unnecessarily every month,” concludes Craggs.

Liability Insurance Cover

You may never use liability insurance cover, but you shouldn’t live without it.

Liability insurance cover claims are like that. It doesn’t happen often, or may not happen ever, But if something happens and you do not have cover, it could cripple you and your family financially.

So, when cutting costs on insurance make sure that you don’t exclude liability insurance cover as the range of incidents for which you could find yourself coughing up are very broad, warns Gari Dombo, Managing Director, Alexander Forbes Insurance.

Examples of where you need liability insurance cover:

    • Your pet bites a friend’s child causing disfiguration or worse.
    • The gardener falls from a ladder becoming a paraplegic.
    • Your armed response company shoots and paralyses a neighbour while responding to your alarm. Most security contracts transfer legal liability to you.
    • Your child accidentally kills a visitor with your handgun.
    • You seriously injure a passenger during a motor accident.
    • You spill petrol while refuelling your boat and set other boats in the marina alight.
    • The building at your home creates dust damaging a neighbour’s expensive interior, or depriving them of the use of their property or business.
    • You cause a fire that burns down the house you are renting.
    • Your leaking septic tank contaminates a neighbour’s borehole water

Liability Insurance CoverHuge liabilities makes liability insurance cover essential

Liability awards arise from these sorts of everyday occurrences daily. They can be so huge you should buy the highest limits of cover that you can afford advises Dombo.

      • By way of illustration, consider the following awards recently made by South African courts:
      • The Road Accident Fund paid R10m to Harry Wessels, a 38-year old farmer who suffered severe brain damage following an accident.
      • Doctors Zambakides & Stepiene were sued for R33 million by the Nel family following their child’s brain damage.
      • A couple and their son had to pay R1,1m to a man who lost a leg. The son  (then under 16) who was using the couple’s gun without supervision, accidentally shot the man in the leg.
      • A vehicle accident victim who suffered permanent brain damage was, along with this father, awarded R10m, and R200 000 for medical expenses, from the Free State MEC for Public Works Roads & Transport.

Compared with these kinds of figures, paying as little as R20 a month for R10 million worth of liability insurance cover is actually quite cheap, says Dombo.

The liability sum insured includes defence costs. So, even if a court does not hold you liable, your liability insurance will still cover your legal fees. But you should seek direction from your insurer when you receive a written claim from the third party (or attorney) as your insurer has the right to conduct your defence, says Dombo.

* Watch a 60-second guide to General Liability Insurance Cover on YouTube

Correct Short Term Insurance Claim Procedure

Your short term insurance claim procedure may be for car, property, travel, business and medical insurance. It’s short term insurance because your insurance needs will change. You take out short term insurance for the period that you need it. It is useful for covering the financial risks to all your possessions.

Your short term insurance is flexible according to your circumstances, and it also caters to your changing needs. For the insured to be indemnified, they need to notify the insurer of the loss event so that the claims process can get going.

Short Term Insurance Claim Procedure – Get your Claim Filed

The notification of a claim is essential to the contract and, even if the policy did not contain any specific terms dealing with notification, the insured would have to notify the insured to initiate the claims process. So as soon as you have an accident in your car, get in touch with your vehicle insurance company so that they can help you with taking the necessary steps to get the claim filed.

Short Term Insurance Claim Procedure

There’s a correct way to go about claiming for short term insurance and the Ombudsman for Short-term Insurance sees many complaints related to claims. So the insurance company that makes claiming against your insurance policy easy is good. You should appreciate any company that supplies a streamlined claim service because of efficient, trained staff.

Short Term Insurance Claim Procedure – Fill in Forms Correctly

To ensure a smooth and satisfactory short-term insurance claim procedure, you must complete the forms correctly. Christelle Fourie who is a managing director of an insurance company says that if you don’t follow the correct procedures when you file a short-term insurance claim, it can cost you in terms of time and money. She offers some tips:

  • File your claim quickly while all the events are fresh in your memory.
  • Know what cover you have. Read your insurance policies and understand them.
  • Call your insurance company, even at the scene of the accident. They will walk you through the steps you need to take and advise you on what you need to send them.
  • Take photographs of the event such as a car accident and also write down details. That is so you can present your insurance provider with all the information they require. Always take down the particulars of the 3rd party involved as well such as their telephone number. You want to be able to reach them if you have questions you want answering.
  • Never admit liability.
  • Always report your car accident to the closest police station and do this as soon as possible.
  • Always be 100% honest with how the incident occurred. If you file a claim with inaccurate information, there will be delays and frustrations. File a claim the correct way – quickly and with the truthful information.

Correct Claims Procedures Deserves Fairness

Your insurance company will tell you whether you have a deductible to pay, and also how the claim will proceed. Your insurance company is there to represent you, and by following the right procedures with your insurance company, things can move quickly. When you’ve followed the correct processes, as a consumer you have the right to a fair claims settlement service.

To get a FREE household insurance quote just complete and send the form on this page. For life insurance quotes go here

Best Household Insurance in South Africa

When you think of all the household items you have in your home, you begin to worry how you could ever cope without them. There are television sets, TV aerials, computers, expensive leather furniture, weapons and jewellery kept in a safe. Then there are expensive fridges and stoves, washing machines and much more. If you’re looking for the best household insurance in South Africa, with research, you’ll find plenty of insurance companies who will happily provide you with a free quote.

Some possessions are Irreplaceable

The best household insurance will give you confidence because you are protecting all your possessions from burglaries, fire and floods. A home’s cover is reassuring. Because without this insurance, you could lose thousands upon thousands of Rands, and then some goods will be regarded as irreplaceable.

Best Household Insurance

Compare and Take the One that Suits You

There are comparison sites, which will offer you free quotes from some companies for you to compare. Then you can choose the provider offers the best fit for your home and your budget.  You can research policies from each of the various vendors. Then work out which one will be the best pick for your home and your budget.

So MANY things can go Wrong

When a person thinks carefully, you realise that theft isn’t the only reason why people insure their household goods. Floods may cause havoc with your property, and rising waters can destroy everything in your home. There are individuals in the Cape who have had baboons enter the home and cause extensive damage to curtains and carpets.

Best Household Insurance

Homeowner’s insurance covers everything that is immovable within the boundary of your property, while home contents insurance includes cover for loss or damage to all your possessions within your home. It will cover:

  • Loss or damage caused by flooding whether by your geyser, burst pipes or natural caused such as ongoing rain, fire, lightning or malicious damage.
  • Food that has deteriorated beyond being edible because of a power failure.

The best household insurance in South Africa is the one that covers both your house and its contents. You’ll find this kind of protection offered by a variety of insurance companies. The best part is that even if you are renting, home insurance will cover your possessions.

You’ve got Choices

Finding the best household insurance shouldn’t take loads of time. There are excellent home insurance sites which will help you compare insurance between the different providers. You’ll be able to look at household insurance from well known financial services providers. Some are Sanlam, Clientele, OutSurance, ABSA, Standard Bank, Old Mutual, Santam and others.

You’ll be able to find comparable quotes tailored precisely to your needs. You can apply for different quotes online, all under one website, saving you phoning- and driving around. Once you request quotes, an authorised financial services provider will call you back and finalise the details of the insurance you want.

To get a FREE home insurance quote, please complete and submit the form

SA Insurance Companies cover unexpected Events

SA insurance companies are service providers. They sell insurance products to protect you and your assets from damage, theft and other types of risk.

Different insurance companies tend to specialise in certain areas. For instance, some may only provide long term insurance.

Others may provide various short-term insurance policies, while a few may deal with only one type of short term insurance such as cheap car insurance.

Whatever type of insurance you are looking for, you will find a wealth of experience and knowledge to draw on in South Africa.

SA Insurance companies Guard against the Rife criminal element

SA Insurance CompaniesThere are numerous insurance companies in South Africa and they all fall under the supervision of the Financial Services Board (FSB).

The role of the FSB is to ensure that all these SA insurance companies are financially sound and treat their customers fairly. As in other countries, some insurance companies deal with long-term insurance and others in short term insurance.

Due to the high crime rate in South Africa, insurance against theft is an important product sold by insurance companies.

When taking out car insurance, it is always a good idea to make sure that your policy will cover you for a stolen vehicle. If you have valuable items in your house, then you would want to consider taking out a home contents policy.

There are also insurance companies which specialize in home contents insurance. Such a policy can cover your valuables against some risks such as theft, fire or flooding. Often if you have a bond on your home, your bank will offer to provide both the contents insurance and the building insurance.

List of car Insurance companies

There are many car insurance companies in South Africa. Below is a list containing the names of the better-known companies. All of them have a website, and you can usually get a quote by completing and submitting the form on their site.

1st For Women

AA Insurance

Absa idirect

AIG South Africa

Alexander Forbes Insurance

Auto & General Insurance company

BOE Insurance

Budget Car Insurance

Dial Direct Insurance

Guardrisk Insurance

Hippo Insurance

Hollard Insurance

King Price

MiWay Insurance

Momentum Insurance

Mutual and Federal Insurance

Outsurance

Santam

Virgin Insurance

Where to Find the lowest car Insurance quote

To find the cheapest car insurance available, it is often simpler to contact a car insurance broker via their website. They will then be able to send you an online insurance quote.

On this page, you can get a quote by completing the form. The company will then send you up to twelve SA insurance companies quotes from different insurance businesses which you can compare to see which one fits your needs the best.

Alternatively, you can contact any of the numerous short-term insurance companies listed above and ask them to send you a quote. It is highly recommended, however, that you obtain several insurance quotes and compare them with one another.

Make sure that the policy offered by the insurance companies from whom you receive quotes covers your current needs. It is not always necessary to take out the most comprehensive and expensive plan. Decide what your needs are, and select the cheapest policy that fits your requirements.

Complete and send the form to get a FREE short term insurance quote