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Consumer Tips

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Consumer Tip June 2013

PREMIUMS: The insurer is not obliged to notify you in the event that your premium has not been paid. You must ensure at all times that the premium has been paid on the agreed date.

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April 2013

CONTENTS Always remember to contact your insurer regarding any change in your home environment. This will include renovations to your home, new television set bought or burglar alarm installed. This should happen once a year so your contents cover is always up to date to avoid underinsurance and specified items not being paid at claim stage.

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March 2013

BUILDING The roof of the insured building is often out of sight and out of mind. Remember that the roof requires regular maintenance in order to avoid water damage to the inside of the building. Failure to maintain may result in rejection of your claim.

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Consumer tip February 2013

BUILDINGS: The assessor or surveyor appointed by your financier when you purchase the building is there to evaluate the value of the property to ensure that the building constitutes adequate security for the bond to be registered. The purpose of this valuation is not to evaluate the structural soundness of the building for purposes of insurance.

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January 2013

EXCESS: An excess is the first amount payable by you in the event of a loss and is the uninsured portion of your loss. When you submit a claim the excess is payable. Regardless of who caused the accident you are liable for the excess as your insurer does not use blame as a criteria in order to determine whether you need to pay an excess or not.

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December 2012

PREMIUMS Always ensure that your insurance premiums are paid on the date that has been agreed by you and your insurer.

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November 2012

MOTOR: When considering motor insurance, premium affordability is usually the most important factor. Various other factors must be considered, namely, whether or not the cover provided is appropriate for my specific needs, whether I can afford the applicable excesses, the insurer’s claims and other processes, whether there are any other benefits that are meaningful to me. There are a wide range of policies available – make sure you choose the right one which suits your needs the best.