Insurance Solutions

• Household Contents – Loss of or damage to contents whilst inside your buildings
• Buildings – Loss or damage to buildings caused by an insured peril
• All Risks – Cover for specified articles all over the world
• Personal Liability – Cover for when legally have to pay compensation to third party
• Personal Accident – Cover for death, total permanent and temper disability and medical expenses as a result of an accident
• Electronic Equipment – Cover for personal electronic equipment  *only available some policies
• Motor – Cover for loss or damage to vehicles – Comprehensive or limited to third party
• Trailer / Caravan – Cover for loss or damage to caravans and or trailers
• Pleasure Craft – Loss or damage to water craft
• Sasria – cover for riots, political disturbance and labour

General

• The insurance is a contract between the insurance company and client and the application forms the basis of that contract so the information must be accurate and all material facts (as determined by the insurance company not by the client) must be provided
• It is the client’s responsibility to ensure the premium is paid on time
• Any change in circumstances must be lodge with the insurance company as it may be material to the risk assessment, failure to lodge material changes may result in a claim being repudiated
• It is important to note that this insurance contract is not a blanket cover against any loss – instead there are specific event (original cause) that are insured against, called Insured Perils
• There are also specific exclusions – event that are not covered, if an event is not specifically covered or excluded, it will not be covered as the insurance contract covers for specific event. The exclusions are there to restrict the insured events or to clarify grey areas.
• All reasonable must be taken to avoid and or minimize the possibility and size of any loss
• Among some of the exclusions – wear & tear, gradual causes, vermin, mechanical electrical breakdown, illegal and intentional acts,

Claims

• A claim must be lodged with the insurance company within 30 days
• The insurance company has the right to repair replace or settle in cash
• No damages or losses should be replaced without authorization from the insurance company
• Almost all incidents require a case number from the police within 48 hours

Household Contents

• The risk survey is essential to determine the risk – security, construction material, occupation, location etc
• This section is effectively cover against natural perils, impact, theft and malicious damage (extension)
• Only from insured premises and must be accompanied by forcible and violent entry or exit or threat of violence (shop lifting & stock shrinkage is excluded).
• If an alarm system is required or noted on the policy cover is conditional upon the system being fully operational and it must be used if there is nobody home
• The sum insured must at least equal the replacement value of the contents / items insured, otherwise a claim will only be paid in the same proportion as the sum insured over the replacement value

Buildings

• This section provided cover for the building and other permanent fixtures and fittings
• The sum insured must at least equal the replacement value of all structures – buildings, wall, pool, paving etc.

All Risks

• Cover for items outside the residence
• Events not covered – from unattended vehicles, undergoing process, inherent defects, vermin, insects, damp, mildew, rust, wear & tear, gradual causes, mechanical and electrical breakdown
• Items usually covered under this section include clothing and items generally covered on one’s person , laptops, cameras, cell phones, sports equipment, caravan contents, jewelery, car radios

Personal Liability

• Covers only events for which the insured will be legally liable to pay and not events for which we feel obliged to pay in the insured personal capacity

Personal Accident

• Covers only events as a result of an external visible cause – if a driver has a fatal accident after suffering a heart attack, the proximate cause would be the heart attach and thus not covered

Electronic Equipment

• Require surge protection and cover limited to the specified premises

Motor

• The following are essential and material in determining the risk – principle driver, type of use, area, registered owner security, non-standard items, overnight parking
• Sound equipment should be specified under the all risk section, as non-factory radios are limit (usually under R 1,000) and the vehicle excess will apply and a claim will effect the claim free group discount
• The value of a claim will be the lower of the market value (usually retail value) or the sum insured
• Cover for Mozambique must be arranged prior to leaving

Caravan / trailers

• Comprehensive cover for caravans and trailers
• Contents must be insured under the all risk section
• The value of a claim will be the lower of the market value (usually retail value) or the sum insured
• Cover for Mozambique must be arranged prior to leaving

Pleasure Craft

• Comprehensive cover for speed boats, ski boats, yachts, rubber ducks and jet skis
• Must specify inland or ocean use as there are different ratings
• Use replacement value for the first 3 years and then market value if older than 3 years

• Fire & Allied Perils – for damage caused by natural perils, impact and malicious acts
• Office contents – covered office for theft, fire & allied perils
• Buildings combined – Cover for office parks, complexes etc
• Business Interruption – loss of gross profits as a result of a claim under the material damage section
• Theft – goods stolen with violent entry or exit
• Money – cash plus R100 000 for crossed cheques
• Glass – Sum insured for glass that could be damaged/broken
• Business All Risks – items used for business out of the premises
• Accounts receivable – outstanding accounts after loss of records – records required
• Fidelity – protection against fraud from trusted employees – conviction required
• Goods in transit – stock transported by own vehicles or other, must be specified
• Accidental damage – cover not specifically mentioned or excluded
• Public Liability – legal claim by the public, extra – work away, product & defective workmanship
• Employer’s liability – not required under the COID Act
• Group benefits – if you want to provide accident death/disability/medical expenses
• Motor – for vehicles registered in the business’s name
• Motor traders internal – damage to own and customers’ vehicles off the insured premises
• Motor traders external – damage to own and customers’ vehicles off the insured premises
• Electronic equipment – all risk cover to the equipment on the specified premises
• Sasria – cover for riots, political disturbance and labour

Fire & Allied Perils

• The risk survey is essential to determine the risk – security, construction material, occupation, location etc
• This section is effectively cover against natural perils, impact and malicious damage (extension)
• The sum insured must at least equal the replacement value of the contents / items insured, otherwise a claim will only be paid in the same proportion as the sum insured over the replacement value
• Commercial buildings must be insured under this section, but geysers and glass must be specified to provide all risk type cover, otherwise they will only be insured for the insured perils under this section

Buildings Combined

• This section is very similar to the fire section with a few extra insured peril but is limited to townhouse complexes and office buildings
• The sum insured must at least equal the replacement value of the contents / items insured, otherwise a claim will only be paid in the same proportion as the sum insured over the replacement value
• Commercial buildings must be insured under this section, but geysers and glass must be specified to provide all risk type cover, otherwise they will only be insured for the insured perils under this section

Office Contents

• This section is very similar to the fire section with a few extra extensions such as theft cover and cover for documents
• This section is intended for office furniture and does not cover electronic equipment

Business Interruption

• Provides for a loss in income but only as a result of a valid claim under the material damage section (fire, office, all risks, electronic section)
• The claim will be based on audited historical figures with an allowance made for period adjustments

Accounts Receivable

• Provides for outstanding debts if all records destroyed, but monthly records must be submitted to the insurance company

Theft

• Only from insured premises and must be accompanied by forcible and violent entry or exit or threat of violence (shop lifting & stock shrinkage is excluded).
• If an alarm system is required or noted on the policy cover is conditional upon the system being fully operational

Money

• Note requirements for transit cover and limits
• Separate limits apply depending on the safe rating, and cover away from the premises.

Glass

• Sum insured must be based on the replacement value for all glass or specified glass
• Stock items excluded

Fidelity

• Cover for specific employees
• Dependant on successful criminal conviction

Goods in Transit

• Two types of cover All Risks & Fire, Collision & Subsequent Theft
• No cover for unattended vehicles and vehicles not in a locked garage overnight

Business All Risks

• Events not covered – from unattended vehicles, undergoing process, inherent defects, vermin, insects, damp, mildew, rust, wear & tear, gradual causes, mechanical and electrical breakdown

Accidental Damage

• Accidental damage to insured property not otherwise insured or excluded in terms of any other section, excluding the Business All Risk section

Public Liability

• covers only events for which the insured will be legally liable to pay and not events for which we feel obliged to pay
• Product Liability must be taken as an extension
• Defective Workmanship must be taken as an extension, with the following exceptions – recalls & rectifying work, inefficiency, prior to hand over, defective design

Employers’ Liability

• COID Act prevents claims against the employer, any exclusion under the Act will also be excluded under the insurance

Group Personal Accident

• Covers only events as a result of an external visible cause – if a driver has a fatal accident after suffering a heart attack, the proximate cause would be the heart attach and thus not covered

Motor

• The following are essential and material in determining the risk – principle driver, type of use, area, registered owner security, non-standard items, overnight parking
• Sound equipment should be specified under the all risk section, as non-factory radios are limit (usually under R 1,000) and the vehicle excess will apply and a claim will effect the claim free group discount
• The value of a claim will be the lower of the market value (usually retail value) or the sum insured
• Cover for Mozambique must be arranged prior to leaving

Motor Traders Internal

• Covers for vehicles owned by and in the possession of the business whilst on the premises
• Must also insured under the fire and theft sections for similar cover to specified motor section

Motor Traders External

• Covers for vehicles owned by and in the possession of the business whilst of the premises

Electronic Equipment

• Require surge protection and cover limited to the specified premises

• Contract All Risks – Covers construction contracts
• Plant All Risk – Covers plant and equipment during use as a tool of trade
• Sasria – cover for riots, political disturbance and labour

Contractor’s All Risk

• Based on single contract or annual turnover, with a maximum limit per contract
• Extensions, include liability cover, surrounding property and theft

Plant All Risk

• Sum insured based on new replacement value, but settlement based on market value
• Only covers equipment whilst it is being used as a tool of trade, and must thus be insured under the motor section as well, to cove it outside the scope of the Plant All Risk cover
• This section aims to provide a very basic description of the cover available, and must not be seen as forming part of the insurance contract.
• For a full description of the cover available, terms & conditions, exclusions and other requirements, please refer to the policy schedule and the policy wording (once policy issued).
• A copy of the policy wording is available on request, if you would like to study it before proceeding with the policy