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News | Archive: 2023

A sapphire anniversary for Reliance Insurance Brokers

December 01 2023 By Reliance Insurance Brokers 45th anniversary

This year marks a very special anniversary for Reliance Insurance Brokers; on 3 December we celebrate our 45th birthday! As one of the oldest independent insurance brokerages in the country, it has been a privilege servicing South Africans for the past four-and-a-half decades. Throughout this time we have aimed to uphold the principles and values of our father and Reliance founder, the late Abdulhay Mohamed Mayet. Abdulhay was a renowned figure i...

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...

Insurance-compliant road safety tips for the holidays

April 04 2023 By Reliance Insurance Brokers road saftey, compliance

With the school holidays and long weekend coming up, you might be taking to the road for a little break. Beyond the obvious 10-point vehicle check that you should do before you leave, there are a number of other factors to consider to ensure you're safe on the road (and compliant with your insurance policy, should you need to claim). 1. Wear your seatbelt In the event of an accident, whether it is your fault or not and where you need to cla...

When last did you do a business risk assessment?

March 09 2023 By Reliance Insurance Brokers risk management

With loadshedding now a fixed, yet highly unpredictable, feature of the South African business landscape, it was only a matter of time before reinsurers raised the alarm on covering businesses under these unprecedented conditions. In early February, a number of local insurance companies announced that they would no longer cover damages related to electricity grid failure, on the advice of their reinsurers. In effect, the failure of Eskom's grid a...

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...