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    Monthly Archives: April 2009

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    2. April
    16Apr, 2009
    Insurable interest

    The basic rule in insurance is that one may only insure something that belongs to you or something on which you would have ‘insurable interest’.   This is a legal term and not one determined by your opinion.

    [vc_icon icon_fontawesome=”fa fa-comment” background_style=”boxed rounded rounded-less” size=”lg” background_color=”custom” custom_background_color=”#ffd500″ align=”left”]Don’t be tempted to add items to your short term insurance that don’t belong to you for example: adding a vehicle that belongs to an independant child or adding property you just borrowed from a friend.  You might have the unpleasant experience of finding out that these items are not covered in terms of your policy.

    15Apr, 2009
    Valuables in your home?

    Our NEWSLETTERS aim at keeping our clients well informed and does not

    replace any policy wording or policy schedule.

    Look at the following points as these can make a BIG difference in your insurance experience, especially in the event of a claim.
    HOUSE CONTENTS SECTION

    “That old ring?   I didn’t know it was worth that much.” 

    Get valuation certificates for all your jewellery / gemstones which exceed the value of R5000. You will have to present these to the insurer in the event of a claim. Without these documents, a limit of R5000 can be put on the item.   You might be very surprised to find that old piece of jewellery to be worth a fortune and that can be the reason your house contents to be totally under insured.
    You are welcome to send us the copies of the valuation certificates for safekeeping.
    SAFETY REQUIREMENT

    “I just went to the cafe”
    Don’t forget to activate your alarm each time when leaving your premises.  This will be a condition for all that has an alarm requirement on their policies.  Failing to do so will cancel theft and burglary cover.
    CLAIMS RECORD

    “I never claim”

    Submitting small claims often can also result in your premium being increased.  You will be classified as a high frequency claimant.  The insurer has to provide for the big losses that might with a portion of your premium and cannot do so if every-one submits small claims constantly.  

    VEHICLE SECTION

    “It’s just a toy.”

    Quad Bikes have to be registered with the traffic department. A special document is issued which will waiver licence fees.

    SAFETY REQUIREMENTS VSS immobiliser means an immobiliser most new vehicle have which was fitted at the factory;VESA 4 immobiliser refers to an immobiliser which was fitted afterwards.
    HOUSE CONSTRUCTION

    “My house is my most valued possession.  I won’t be able to start all over again if something should happen to it”

    The premium on this section is very affordable.  Don’t be tempted to under-insure your house.  Rebuilding after storm damage or a fire can be costly.

    Take the size of your house and multiply with building cost, and add cost of paving, gates, walls, swimming pool….
    ALL RISK SECTION The all risk section is often incorrectly thought of as “Covering all types of risk”.  This name of this section comes from:  Covering risk away from the risk address. In other words:  Cover away from your home.   This it the section to take cover for cell phones; laptops; bicycles; camping equipment, camera’s,  hearing aids, jewellery  etc.
    ADDRESS The premium is linked to the risk and therefore one should change your policy when moving.

    Informed clients are happy clients ! 

     

    5Apr, 2009
    Political / riot cover

    SASRIA – Commonly known as political and riot cover.  We strongly recommend that all policyholders add this most affordable cover to their policies.

    It actually covers much more that expected.  Risk types conventional insurers are unable or reluctant to cover can be placed with SASRIA.  Examples: damages arising from civil unrest, terrorism and labour actions, strikes, lockouts, etc.

    [vc_icon icon_fontawesome=”fa fa-comment” background_style=”boxed rounded rounded-less” size=”lg” background_color=”custom” custom_background_color=”#ffd500″ align=”left”]Check your policy schedule.  Normally one would see a small premium separately indicated as SASRIA. Contact your broker if you are not sure whether you enjoy this cover.