What does short-term insurance cover? In this post, we will have a look at Santam short-term products to see what you can expect from short-term cover.
Santam Short-Term Building Insurance
When it comes to your home, you don’t want to take any unnecessary risks. You take pride in your home and ensure that it is presented beautifully. You keep it clean and tidy and secure it against burglary.
But what happens when something goes wrong? What if your geyser bursts or your home is damaged in a storm? That’s where building insurance comes in.
Building insurance covers the structure of your home and other permanent structures on your property. So, if, for example, land subsidence causes your pool to crack, you are covered.
What makes Santam different is their vast experience in the industry – they have been around for almost a century. They also cover the replacement value of your home, not just the market value.
Santam Short-Term – Personal Legal Liability
They also cover you for personal legal liability. This is something that you hopefully won’t ever need, but is essential if you have workers or guests in your home. What happens if someone fixing your roof slips and falls?
You can be held liable for this kind of accident.
Santam Short-Term – Extended Personal Legal Liability
This extends your cover wherever you are in the world. If it is not covered under the standard legal liability policy, it should be covered here instead.
Santam Short-Term – Legal Expenses
Some people may go their whole lives without needing to see the inside of a courtroom. For those who are not that lucky, the cost of court proceedings can be an expense that is crippling.
Taking out cover for legal expenses makes sense. Even though you know you would never break the law, you never know when an accident may make you criminally or civilly liable. What happens if your employer treats you unfairly?
Santam’s legal cover covers civil matters, labour matters, criminal cases and family matters.
Santam Short-Term – Personal Accident
This is another one that you hope you hope that you never have to use. But you will be glad you have it if you are permanently disabled in an accident. This plan will pay out to your family if you die in an accident as well.
Santam Short-Term – Hospital Benefit Plan
In this case you are paid out for each 24 hours that you have to spend in hospital because of an insured event.
Santam Short-Term – All Risks
This cover is for those items that you carry with you every day. Things like your cellphone, or your expensive sunglasses, for example.
Now, you might think that these things are covered under your standard contents insurance but they are actually not covered fully.
While most policies do make allowances for some personal items being carried on your person, this cover will probably be limited. So, for example, it might be limited to R10 000.
Add up the value of the items that you carry around with you. For example, your phone, laptop, jewellery, and even designer clothes if you wear them. Would R10 000 be enough if you had to replace everything?
That about covers the different insurances offered by Sanlam. You should now have a much better understanding of how short-term insurance works.