Car
Car insurance is insurance that is taken to cover your vehicle in the event of an accident, theft and damage to a third party’s car or assets. Your vehicle is insured as per the current retail value of the vehicle and this is measured using the Auto Dealer’s Guide. In the event that there is a theft or the car is declared a write off, you will be settled as per the retail value at the time of the loss. Your insurer does not cover for maintenance of the vehicle as well as normal wear and tear. The tyre thread when driving the vehicle should not be less than 1.6mm. There are different ways in which you can insure your car that being; comprehensive (accidental damage, third party, fire and theft); third party, fire and theft (damage to the third party, and only fire and theft for own vehicle) and Third party only (damage to third party only and no cover for own vehicle). Comprehensive cover being the most effective as it covers repairs to your car and third party in the event of an accident. It is also important to specify the class of use of the vehicle for instance whether the vehicle is used for business (i.e seeing clients for more than 6 times a month) and personal use (this includes going to and from work and parking your vehicle at work)
Household
This offers cover to all the items in your household that are movable and not fixed to the property. For instance if your house is turned upside down, everything that falls out is considered to be part of household contents. Your movable property under this cover will be covered for theft, water damage, wind, hail, fire, power surge, lightning and accidental damage. When calculating the sum insured to be covered it is advised for one to compile an asset register of the items they own as well as the family living with them on the property. This is not only limited to furniture and kitchen utensils but includes other items such as clothing, curtains and bathroom towels etc. All security measures that have been stipulated on the policy should be true and ensured that they are kept in place. If a client has selected that they have a linked burglar alarm on the policy and there was a burglary when they were not in the property. It is imperative that they provide the alarm report as well as confirmation that the alarm was set off at the time of the burglary. For theft cover to kick in, there should be forced entry into the property which means the burglars must have for example broken a window or door in order to gain entry to the property
House
This covers your building as well as fixtures and fittings to the property like fitted cupboards, fitted carpets, bathtub curtain rails etc. When considering the sum insured, one must insure the building as per the current replacement value/ cost to rebuild the entire property including paving, boundary wall and gates. You can calculate this by taking the square meters of the house and multiplying this by the current building rate. Then add the extra items like pool, lapa, cottage, gates, boundary wall etc. In this section one is covered for damage as a result of wind, storm, theft, water, hail, subsidence and landslip, Fire, accidental damage and earthquake. However regular maintenance to the property as well as cleaning of gutters and waterproofing of the roof should be done.
Contact one of our advisors for more information.
Phone: 011 803 9686
Email: vivian@pbafsa.co.za
https://www.pbafsa.co.za/