Source : Discovery Insure
If you would like us to review your existing policy contact William in our Insurance Department email: service@daberistic.com
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In an ever-evolving market that’s recently been facing tremendous challenges, Discovery Insure believe that there is an opportunity to be innovative and agile in making sure your clients’ cover remains relevant. Of course, while enabling them to enjoy even more rewards. We share with you a host of new and unique features, benefits, and product enhancements across personal and commercial lines. Here is a summary of what you can expect from Discovery Insure in the next year. Personal lines Below are some of the innovation’s you can look forward to:
Business insurance Below are some of the innovation’s you can look forward to:
If you would like us to review your Personal or Business Insurance contact William or Edmond in our Short-Term department email: service@daberistic.com Source: Discovery Insure We continue to share a 5-part series on Home Insurance Tips. In this article we share on Solving your geyser problems. We usually don’t dwell on things that can go wrong with the geyser, the reality is that something will, at some point. Most electrical geyser manufacturers supply a warranty for the actual geyser for between five and ten years, but its individual components only carry a warranty of one to two years. What are geyser components? These are items that generally wear, such as thermostats, elements, pressure control valves, vacuum breakers, seals and gaskets. When a geyser component fails, it doesn’t necessarily mean the geyser needs to be replaced. If something goes wrong with one of these components, check with your broker if your insurance policy covers it. Most importantly, if you suspect that your geyser is leaking or has burst, report your claim to your broker so that they can appoint a qualified plumber to see to the problem. If you don’t, you may find yourself out of pocket due to limits on your policy when not using an approved plumber. Did you know?
What to look out for
If you like us to review your Home cover contact William our Short-term department email service@daberistic.com tel (011)658-1333
Source: Hollard It’s been a challenging time for South Africans: recovering from the effects of the COVID-19 pandemic, unprecedented vehicle inflation, rising fuel prices, devastating floods and over 50 days of continual loadshedding. All citizens and businesses have been impacted by these events and this is also true for the insurance industry. During lockdown, most insurers experienced saw a decline in the frequency of claims as a direct result of the restrictions imposed on the movement of our clients. Motor was impacted positively, and insurers saw a significant decline in accident, glass, and theft claims. Similar trends were experienced with regard to home contents, with a decline in burglary and theft claims. During this period, some insurers provided premium relief, reduced renewal increases, and refunded a portion of premiums. As restrictions have eased, there has been a return to a more normalised claims frequency trend, with adverse weather conditions in many parts of the country adding incremental pressure to claims volumes. Vehicle repair costs have increased well above inflation and the nature of vehicle thefts has changed, with newer and more expensive vehicles now being stolen. Similarly, the average cost of contents and building claims has increased to new levels, with a particular increase experienced in the number of power-surge claims. While you will be aware that rate and sum insured adjustments are routinely performed in our business, the significance of the above claims experience will unfortunately result in incremental increase adjustments over the coming months. As always, increases will remain highly segmented by policyholder and every effort has been made to limit the extent of increases as far as possible. The following excess adjustments have been implemented for Santam & Discovery Insure. Santam Vehicles: Compulsory (basic) vehicle excesses will be increased by R1 000 for all our products. The R0 excess for policyholders over 55 years will remain unaltered. Vehicle glass excesses will remain unaltered. Contents: Excesses for lightning/thunderbolt, power surge, accidental damage, mechanical/electrical/electronic damage will increase by R500 for all our products. Discovery Insure
If you would like us to review your policy please contact William in our Short-term department email: service@daberistic.com Source: Discovery & Santam We sharing 5 part series on Home Insurance Tips to help you know what are the important things you need to ensure are in place to claim effortlessly. This article focuses on Maintenance of your roof. Scenario (Not real names): Jo and Michelle started picking up a leak in their ceiling and water bubbles on their bedroom walls. They then submitted a claim with their insurance to fix the damage. Upon inspection from the insurance company the claim was rejected due to Roof not well maintained. The damage from the leak led to huge costs, so now they’re being prudent and want to Know what they need to do to ensure that they have Roof maintenance. Here are some tip on Roof maintenance 101
For any queries on your House cover contact William or Edmond in our Short-term department email service@daberistic.com tel (011)658-1333 Source: Hollard Breaking up is hard to do – but not in the case of your insurance company. You can switch insurance to whichever company you want, whenever you want. It should never be difficult or ‘wrong’ to change insurance companies. You might want to hold out for a no-claims bonus or think that your loyalty will be repaid with lower premiums, however if you feel that your insurance provider no longer has your best interests at heart, it might be time to move on – no matter what time of year or at what point of your policy term you are. What is a policy and what is a term? Remember that short-term insurance is different from things like medical aid and life insurance in that it doesn’t impose blackout periods or conditions which stipulate when you are allowed to claim. You are 100% covered on your car, home contents or buildings from day one. You don’t get more covered as time goes by. If you pay premiums on a month-to-month basis, you can simply notify your insurer that you want to cancel your policy (your contract). That’s it – simple as that. They may try to woo you with reduced premiums but you are under no obligation to accept their offer. It doesn’t matter if you’re approaching your renewal date or if you are in the middle of your policy term (mid-policy or mid-term). If you’ve paid for a whole year in advance – i.e. for a 12-month term/duration – and you cancel halfway through this period, your insurance company will pay back your premium on a pro rata basis. The only reason why they won’t pay you back is if you’ve claimed to the value of the maximum insured amount. Tip: Remember that all insurance companies look at your claims history to determine your insurability as a client so if you’ve made a lot of claims during your term, a new insurance company might charge you a higher premium than your existing provider. A poor claims history, a previous insurance policy cancelled by the insurer due to excessive/ fraudulent claims and a high risk profile (e.g. geographical location or high performance vehicle combined with an inexperienced driver) are all reasons why you may be refused insurance. Reasons to switch insurers Here are a few common reasons why people decide to call it a day with their insurance company. Have a look to see if any of these apply to you and if it’s time to get a new quote:
Opportunities to relook your insurance Even if you are not unhappy with your current insurer, it might be a good idea to review your cover if: You recently got married or divorced, and you are restructuring your assets, responsibilities and finances. You want to add or remove a driver who no longer lives with you – e.g. a student child who has moved or a child who just got their driver’s licence. You’ve bought a new car or home, or a lot of new and expensive tools/furniture/electronic equipment. You’ve just welcomed a new dog into your home and want to raise your liability cover. You’ve changed jobs and want to update your mileage or where the car is parked, for example. Things to remember before changing Before you make a decision to switch insurers, be sure to compare the extent and limits of cover to your existing policy and check your new policy for excess fees. The deal you are getting may not be as great as you think if you discover that your new insurer offered you a much lower premium at the expense of your type of cover and insured amounts. If you would like us to review your current insurance and cover please contact Marizka in our Short-term department email service@daberistic.com (011)658-1333 Source: Santam In South Africa, having a car is a necessity which at the same time brings the risk of a motor accident. In this article we share some info on what to do after an accident, so that you are better prepared.
Here’s our guide to what to do after an accident: 1.Remain calm and put safety first. Switch on your hazards to warn other drivers. Many people often get out of the car immediately check for damages (or in some cases, argue with the other party), without first checking surroundings. This is very dangerous, particularly on a highway or major roads. 2.If you can, move any cars that may disrupt traffic – before moving take pictures of position car was and any other car involved in the accident. If you can also make marks on the road with chalk or spray paint. If car can’t be moved, call your insurer to get towing service. 3.If you feel unwell after the incident, limit your movement, and wait for paramedics to arrive on the scene. If there are pedestrians that have been injured, or if there is property damaged, it is road law in South Africa you have to remain at the scene of an accident until the police have arrived. 4.Record the following details:
7.Inform your insurance broker after the incident and provide true and accurate information, so that the claim can be processed without delay. If you would like us to do a comparative quote on your current insurance email: service@daberistic.com tel: 011 658 1333. |
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January 2025
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