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Category: Insurance Tips

5 Best insurance tips for millennials ?>

5 Best insurance tips for millennials

Adulting (verb) – acting like an adult or engaging in activities usually associated with adulthood, often responsible or boring tasks.1 If you’re a millennial, you know this definition all too well. You’ve reached the age where you may be taking out student loans, buying or renting a place to live, having kids and, ultimately, purchasing insurance. These major life events for millennials make it extremely important to have a financial security net. And that’s exactly what insurance is: a financial…

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The Ombudsman for Short-Term Insurance comments on rejections based on misrepresentation of regular driver details ?>

The Ombudsman for Short-Term Insurance comments on rejections based on misrepresentation of regular driver details

During the underwriting of a motor vehicle insurance policy, a prospective client is asked by the insurer to disclose the identity of the regular driver of the vehicle being insured. The regular driver is the person who drives the vehicle most often in any monthly period. This person’s details, including their specific risk profile are captured by the insurer in order to determine the acceptability of cover and the appropriate premium. Details which influence the regular driver’s risk profile include…

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What could go wrong? ?>

What could go wrong?

Santam labels Cape storm, fires worst catastrophe in SA insurance history. As Santam’s latest television advert asks “what could go wrong?”, its interim financial results reflect the realities of catastrophic weather events. The country’s largest general insurer labelled the severe storm and devastating fires – that battered Cape Town and razed parts of the Southern Cape – in June as the worst catastrophe event in South African insurance history. The insurance-related damage is expected to be around R3 billion, with…

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What a difference a day makes when you don’t pay a premium ?>

What a difference a day makes when you don’t pay a premium

A policyholder involved in a car crash turned out not to be covered. Picture: MARK STOKOE/NETCARE 911 Fifteen days. That’s how long you have to pay an overdue insurance premium in order to avoid having a claim rejected. Policyholder protection rules oblige insurers to give their policyholders a 15-day grace period between an unpaid debit order and the lapsing of the policy or the rejection of a claim. But does that mean a policy lapses on the 15th or the…

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Tips to Get a More Accurate Insurance Quote ?>

Tips to Get a More Accurate Insurance Quote

No matter how you buy your insurance – whether it’s through a broker or directly from an insurance company – you’ll need to provide certain details in order to get insurance quotes. The information you’ll need to provide will vary according to the type of insurance you’re getting. In all cases, paying attention to filling out the quote form will help you in the long run to save money and get the best product most suited to you. Here are…

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TIPS ON HOMEOWNERS INSURANCE COVER ?>

TIPS ON HOMEOWNERS INSURANCE COVER

Home owners insurance provides cover against damages to the building, roof and fittings of the home that you own. It is also known as building insurance. WHAT IS COVERED Cover is generally provided for the: Building (including outbuildings) Fixtures and fittings Water, sewerage, gas, electricity and telephone connections (including geysers) Walls Gates Fences Garages / car-ports Your insurer will either replace, repair or reinstate (rebuild) the damaged property. MAKE SURE YOU KNOW WHAT YOU ARE COVERED FOR The policy will…

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Tips for stress-free livestock transporting ?>

Tips for stress-free livestock transporting

Livestock transportation should result in as little stress to the animals as possible, whether they are being transported to the abattoir or other farms. Glenneis Kriel spoke to Dr Dirk Verwoerd and Giepie Bester about best practices when transporting livestock. Stress your livestock while transporting them and you are likely to end up with unnecessary weight loss, or even bruises or other injuries that could lead to disease, carcass rejections or even mortalities. Stress during transportation also has a negative…

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Do’s and don’ts of car insurance claims ?>

Do’s and don’ts of car insurance claims

View Do’s and don’ts of car insurance claims PDF The five steps that are essential to take (and the five things you should not do). Anyone who has endured a car insurance claim knows it can be an unpleasant process. Handling it correctly can make it a less stressful experience. In this issue of InShort we look at the important do’s and don’ts you should keep in mind if you are involved in a car accident. Do’s – the five…

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Short-Term Insurance Tip ?>

Short-Term Insurance Tip

The Ombud for Financial Services Providers (FAIS Ombud) PO Box 74571, LYNWOOD RIDGE, 0040 Tel: 0860 324 766 Fax: (011) 348 3447 E-mail: info@faisombud.co.za The Financial Services Board (FSB) PO Box 35655, MENLO PARK, 0102 Physical address: Riverwalk Office Park, Block B, 41 Matroosberg Road, Ashlea Gardens Ext 6, MENLO PARK, 0081 Toll-free: 0800 20 20 87 or 0800 11 04 43 E-mail: info@fsb.co.za Website: www.fsb.co.za Click here PDF to show on this page as reading article.

Things to look out for when entering into an insurance contract ?>

Things to look out for when entering into an insurance contract

Arranging adequate insurance cover for your valuables is vital for protecting both your essential and basic assets (such as your home or motor vehicle) as well as your valuables. With the emergence of direct-to-market insurers (such as Dial-Direct and Outsurance), in contrast to the more traditional broker system, more and more people are entering into both long- and short-term insurance policies without fully understanding or appreciating the terms and conditions they are binding themselves to. “Material terms” of an insurance…

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