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News | Tag: insurance

Yes, you do need an insurance broker (here's why)

October 23 2024 By Reliance Insurance Brokers insurance broker

As tempting as it may be to cut out the middle-man when taking out insurance, working through a broker is still the optimal way to ensure you have the best possible cover in place (and instant access to help when you need it). First off, to clarify, an insurance broker's role is to help you make sense of the (sometimes) complicated world of insurance, and ensure that the cover you sign up for correctly matches your needs. Their professional opini...

Full disclosure: your responsibility as an insurance customer

July 23 2024 By Reliance Insurance Brokers short term insurance

When it comes to business, household and vehicle insurance, we all expect the insurer to be clear and honest in what it is covering, and to pay out in the event of a claim. But what about the customer? What responsibility do insurance clients bear in this process? A core tenet of insurance, for both insurers and customers, is that of full disclosure. According to this principle you as the insured must inform your insurer when applying for insuran...

Business owner? You need business interruption cover

June 28 2024 By Reliance Insurance Brokers business interruption, short term insurance, business insurance

When it comes to running a business, all business owners know they need insurance to cover unexpected losses, theft or damage to their property or equipment. In their personal capacity, business owners take out dread disease cover to protect them should they develop a critical illness and are unable to work, or life insurance should they unexpectedly pass away. But what about the business itself - the act of producing goods, or rendering a servic...

Winter-proof your home and office this season

May 16 2024 By Reliance Insurance Brokers short term insurance, winter, seasonal

As extreme weather events become more commonplace in South Africa, so our historically mild winters have evolved into more eventful seasons, with increasing storms characterised by strong winds and flooding. Securing areas at your home or business premises that are vulnerable to adverse weather could be the difference between a warm and cosy winter, and unfortunate damage that leaves you cold. Check your roof If you live in the Northern, Western ...

Do you need to use an insurance broker?

March 20 2024 By Reliance Insurance Brokers short term insurance, personal insurance, insurance broker

When online short-term insurance offerings were first launched in South Africa more than 15 years ago, the insurance industry underwent a major facelift. Consumers were now able to go direct to insurers, effectively skipping out brokers. While there was much excitement around this prospect initially, the veneer soon wore off as consumers realised just how overwhelming it was to compare pricing, policies, excesses and pick the right plan offering ...

It's financial year-end, have you done your business insurance review?

March 04 2024 By Reliance Insurance Brokers business insurance, review, commercial insurance

With the new financial year, you likely have a ton of items on your to-do list (and assessing your business insurance is probably not one of them!) But it should be, because your business has no doubt changed in the last year, which means your insurance need has changed too. Take a look at our list of the 7 most common changes that could affect your business insurance: 1. You've moved to a different location Changing your geographical locat...

Adopted a hybrid work model? Make sure your insurance policy covers work-from-home risks

January 31 2024 By Reliance Insurance Brokers insurance, loadshedding, home injury, theft, cyber, work from home

Many South African businesses have returned to 'business as usual' and have their full staff complement back working in the office. However, some industries have retained work-from-home business models. While this does have benefits, it also presents its own risks of which companies must be aware when structuring their business insurance. Research conducted by South African jobs portal, CareerJunction, in 2023 showed that only 3% of jobs listed o...

Fire insurance: why you need more than just a sound policy

November 23 2023 By Reliance Insurance Brokers short term insurance, fire insurance

When it comes to home or property fires, prevention really is better than cure, because even though your buildings insurance covers fire, your claim could be rejected if your property wasn't adequately secured against this risk. Fire accounts for the highest number of insurance claims in South Africa. In the event of the fire, the losses are usually extensive, as the fire itself as well as smoke and the water used to extinguish the fire all cause...

Underinsured? It's going to cost you more in the long run

October 31 2023 By Reliance Insurance Brokers under insured, under insurance

When times are tough and you find yourself wanting to cut back on your monthly expenses, short-term insurance payments are often the first to get the chop. However, doing this could cost you much more in the end than if you'd paid your full monthly premiums - here's why. Insurance covers the cost to repair or replace the insured item should it be damaged or stolen, whether that be items inside your home, on the physical structure of your home or ...

The principles of insurance: what are they?

September 28 2023 By Reliance Insurance Brokers insurance principles, utmost good faith, proximate cause, insurable interest, indeminity, subrogation, contribution, loss minimisation

Most people take out home, building and vehicle insurance without giving a second thought to what 'insurance' actually means. Yes, we all know that insurance is a safety net that pays out when a listed event occurs. But behind the scenes, what is really going on when you sign a contract with an insurer? It might surprise you to know that in order for your insurance contract to function correctly, there are seven principles of insurance that both ...

Installed an alternative power system at home? Here's how to insure it

August 22 2023 By Reliance Insurance Brokers short-term insurance, power alternatives

With the national energy regulator, Nersa, publishing a consultation document earlier this month that outlined South Africa's future load-shedding plans - including restructured load-shedding stages, up to stage 16 - the country's power woes seem set to continue for the foreseeable future. It's hardly surprising then that so many South Africans have taken the plunge and invested in alternative power supplies for their home, from basic portable po...

Make your insurance work harder for you

May 17 2023 By Reliance Insurance Brokers short term insurance, car insurance, home insurance, household insurance

With the spotlight falling on workers in South Africa in May, we're looking at how hard-working citizens can make their short-term insurance work harder for them. As a starting point, it's useful to know the difference between short- and long-term insurance. Short-term insurance covers everyday items, like your home, home contents, car and high-value items like cellphones and jewellery. You normally update these policies frequently, like when you...

9-point business insurance guide

February 07 2023 By Reliance Insurance Brokers insurance, business insurance, yearend

With financial yearend approaching, now is the perfect time to reassess your business's insurance policies to ensure adequate cover and compliance for the year ahead. We have compiled a 9-point guide to assist you: Use a competent, reliable broker: Ensure your broker has commercial experience, and is up to speed with the latest regulations, laws, insurance issues and products pertaining to your specific industry. Update your inventory list: I...

2023 insurance checklist

January 24 2023 By Reliance Insurance Brokers short-term insurance, household insurance, insurance

Dealing with insurance issues may not be high up on your new year's resolution list, but the start of a new year is the best time to check on your insurance policies. Use our 10-point checklist to ensure you're covered for the year ahead. Update your details: Got a new cell number? Changed jobs and have a new email address? Make sure all your personal details are all up to date. Review your policies: In an insurance claim, your cover pays out t...