Personal
Personal Insurance – Innovation and your Personal Insurance policy
It is a well known fact that the technology age has paved the way for many exciting innovations, fundamentally altering the manner in which goods and services are consumed. Good examples are platforms like iTunes, Uber, Snapscan, and Airbnb. What probably is less well known and appreciated, is the impact such innovations have on your…
Read MoreGeneral Insurance – Alarms and your insurance policy
The mere existence of an alarm does not always mean that your theft losses following break-in are covered in terms of your insurance contract. The Position Recent rejected theft claims have underlined the need for an expert, proficient broker to interpret and guide policyholders in complying with their policy contract terms. Virtually all policies offering theft cover will contain…
Read MorePersonal Insurance – House Contents: Be warned, Underinsurance penalties can be severe
Recent statistics revealed that South Africans with Household Contents insurance are Underinsured by a whopping 77% and even more alarming is that extent of this Underinsurance is 61%! So what is Underinsurance and why do insurers insert this penalty in their policy contracts? Underinsurance Defined Insurers add a clause to their contracts which stipulates that…
Read MoreGeneral Insurance – Water Crisis & Insurance
It is a widely held view, that in the main, the cause of the dire water situation in the Western Cape is a combination of manmade risks, namely, climate change, a sustained influx of people into the area and poor planning by local and national government. Of course, the effect of the drought and how…
Read MoreGeneral Insurance – Small Things Become Big Things
In a world where technology is constantly improving, the amount of electronics being produced and sold nowadays is astronomical. Most of us have moved away from just using our phones to make calls – these very powerful devices can, at the touch of the button, connect you to the “internet of things” – for most…
Read MoreMotor Insurance – Card License Renewal and Motor Insurance
Time flies. It was nine years ago that the new card licence system was introduced. Motorists are now in contravention of the law if they are not in possession of a valid card licence. Even more alarming is that motorists who failed to convert their old “ID” licences have no insurance cover as policies require…
Read MoreGeneral Insurance – Late Claim Notification may mean “No Claim”
All short term insurance policies contain a clause detailing the procedure when submitting claims. In general terms this clause compels you, the Insured, to give your insurers notice, as soon as reasonably possible, of any event which may give rise to a claim. But the claim may never materialise…? In our experience a frequent reason…
Read MorePersonal Insurance – A Quick Checklist
Have you paid your premium? Are you underinsured? Is your car sum insured correct? Are all your portable assets correctly insured? What are the security requirements of your policy? Have you disclosed all material facts? Are you are aware of the policy exclusions? Remember, your policy is a contract. Have you read it and understood…
Read MoreMotor Insurance – Risk implications of the new Road Accident Fund
The trigger for the cover is an accident (as opposed to illness) and the compensation is based on the sum insured you select on Death, Permanent Disability, Temporary Disability, and Medical Expenses. Medicals are not required and age acceptance limits generally commence at age 15 and expire at age 70. The new Road Accident Fund…
Read MoreHomeowners Insurance – Freedom of Choice
A landmark decision made by the Ombud for the Financial Service Providers has ruled against Nedbank Group Insurance Brokers for forcing the homeowner to insure via Nedbank. In short Helena Dennis of Cape Town took a R400 000 home loan with Nedbank in March and complained to the FAIS Ombud when Nedbank refused to accept an…
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