Insurance Find

As a business owner you can be held personally responsible for injuries or damages that take place on your premises or during the course of normal business operations. Consequently you need to think about the best business insurance South Africa can offer in the way of a liability business insurance for your company. If you are proved to be liable for these damages or injuries, and are not covered by an insurance policy -you will have to use your own assets to pay for any claims made against you. Therefore you need to examine your company’s risks needs and look at the appropriate types of cover which you will require:

 

1.         General liability: This insurance not only protects you if anyone is injured at your place of business, but it also covers any injuries that might be caused by a product or service which you sell.

 

2.         Umbrella liability: This insurance fills in any gaps left by all your other forms of insurance and ensures you won’t be stuck with a big bill.

 

3.         Property: As you wouldn’t think of going without a homeowner’s policy, you also need to insure your business property.

 

4.         Risk management:  Exposure to risk is something that needs to be thought about in detail, as every day you and your business will face some form of liability or risk -from a client slipping and injuring themselves on your premises to one of your employees causing damage to property of a client or third party.

 

5.         Public Liability: Claims by consumers and the public can be incredibly high, high enough to literally put an end to your business. With the correct cover in place any unfortunate and unforeseen problems that can lead to a claim against you or your business.

 

Mo matter what type of business you are engaged in – whether it be a shop an office or even a hotel – it’s likely that the contents of that business will run into tens of thousands, if not more. So look for the best business insurance South Africa can offer when looking for cover.

You may have wondered one or two of the things below, on the subject of income protection insurance

 

What is it?

 

Income protection insurance is a form of cover designed to generate a replacement income (percentage of) in the event you are taken seriously ill and are unable to work.

 

How long would it pay out for?

 

That depends upon the policy you select and pay for.

 

Some may have a maximum time cap whereas others may continue to pay out until your normal retirement age or you are declared fit enough to resume work.

 

Some policies may also have a maximum payout period if your illness relates to a known condition declared at the time you took out the policy – though you may typically find it difficult to obtain cover for what are called pre-existing conditions.

 

How much will it pay out?

 

Once again, that depends upon the cover you select and pay for, however, a policy may pay out enough for you to continue a relatively normal life until you are well again.

 

Is this the same as mortgage protection insurance or life insurance?

 

No – although you can use the income provided for any purpose you choose including paying your mortgage.

 

Life insurance is, as the name suggests, something to cover your death. It typically can be combined with income insurance to provide integrated cover if you wish.

 

Mortgage payment protection insurance (MPPI) is typically short-term cover running over 1-2 years and is aimed at circumstances such as minor illnesses, accidents or involuntary redundancy.

 

Is redundancy covered?

 

Typically not. Income protection insuranc is long-term insurance protection aimed at potentially life-changing illnesses etc.

 

Are there age limits?

 

Yes and no.

 

As it is income-related cover, policies typically provide protection up to the standard retirement age (or as otherwise defined by the policy). It may be rarer to find a policy that will cover working activities past such an age.

 

You may typically take out cover at any age within that though premiums may increase with age.

 

Income protection insurance may or may not require declarations relating to your overall background health at the time you initially take out the policy.

Read about Budget Insurance

Read about Car Insurance

 

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BUSINESS CAR INSURANCE

Some insurance companies
offer to design your insurances around your business and so your commercial
insurance premium is determined around your business’ risk factors.
Therefore, if you are a low risk client, your business could get covered for
much less than what you are currently paying. That sounds like a plus in any
language.

To be on the safe side you
should include access to emergency roadside
and office assistance –
24/7 and, if you remain claim free for three years, you should get a no claim
bonus. Good advice is to choose to
insure your company cars and commercial vehicles at retail value rather
than market value. If you are with a reputable insurer, you should get paid for
storage costs or towing to the
nearest repairer in the event of an accident as well as costs incurred for the removal of the wreckage and replacing locks,
keys, remote controls or the reprogramming of vehicle security
systems

You can also apply for
cover when going on business trips to countries outside South
Africa (Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland and Zimbabwe). You can even get additional cover for business
trips to other African countries to include Kenya, Tanzania, Uganda and Zambia as well as the DRC (all areas South of Lubumbashi).

Optional products
which you can add to your business car insurance cover are:

·       
Car hire – which provides your business with a rental vehicle for up to
30 days if any of your vehicles are stolen,
hijacked or repaired after an accident.

·       
Non-standard accessories

·       
Sound equipment

·       
Business use in other countries

 

Many people rent a condominium, home, apartment or any other kind of dwelling so they will need to get renter insurance to have their possessions protected. The tenant’s property owner will have the homeowners insurance or the commercial property insurance policy with this structure that they are renting. The thing it doesn’t cover is the renters possessions like clothing, furniture, electronic equipment or any of the belongings that are other than these. This renter insurance is not too expensive because they will cover just the possessions and not anything else. It is best that they look around for a deal that is good on the policies of insurance.

 

If they do not have the insurance will not have a way to replace the items that may be stolen or lost in a disaster as in strike of lighting, fire, winds or any other of the disasters that are covered. They even will cover the damages that are done by renters of other homes that are near the policyholder like water or smoke damage. Renter insurance covers these types of things:

 

1.      Smoke

2.      Fire

3.      Vandalism

4.      High winds

5.      Theft

6.      Water damage

7.      Lighting

8.      Malicious mischief

 

Another of the benefits the insurance has is the coverage of liability. The liability will protect when action of legal and damage of property or injury that is personal that is caused by the renter or any family member and pets as well. This also has the no fault coverage medical when someone is injured in their home. The insurance will protect the person when there are damages and will have to leave the home. The insurance pays for the expenses when the renter is living somewhere other than the dwelling that they rent and covers the hotels, expenses of other living and meals.

Many people rent a condominium, home, apartment or any other kind of dwelling so they will need to get renter insurance to have their possessions protected. The tenant’s property owner will have the homeowners insurance or the commercial property insurance policy with this structure that they are renting. The thing it doesn’t cover is the renters possessions like clothing, furniture, electronic equipment or any of the belongings that are other than these. This renter insurance is not too expensive because they will cover just the possessions and not anything else. It is best that they look around for a deal that is good on the policies of insurance.

 

If they do not have the insurance will not have a way to replace the items that may be stolen or lost in a disaster as in strike of lighting, fire, winds or any other of the disasters that are covered. They even will cover the damages that are done by renters of other homes that are near the policyholder like water or smoke damage. Renter insurance covers these types of things:

 

1.      Smoke

2.      Fire

3.      Vandalism

4.      High winds

5.      Theft

6.      Water damage

7.      Lighting

8.      Malicious mischief

 

Another of the benefits the insurance has is the coverage of liability. The liability will protect when action of legal and damage of property or injury that is personal that is caused by the renter or any family member and pets as well. This also has the no fault coverage medical when someone is injured in their home. The insurance will protect the person when there are damages and will have to leave the home. The insurance pays for the expenses when the renter is living somewhere other than the dwelling that they rent and covers the hotels, expenses of other living and meals.

GET MULTIPLE QUOTES ON INSURANCE BEFORE YOU BUY
Insurance is not an option it is a necessary part of everyday life. Your car, your home, your business, or merely to protect your family’s health, you need to be insured. Getting the right coverage can be a confusing process but it doesn’t have to be. Companies like NetQuote provide you with the ability to compare quotes.
And getting a free quote is somewhat different today than it used to be. In the past it would have cost you a quoting fee just to get a look at rates from a company.

Now you can get an insurance quote online -or offline—as all insurance companies offer free. It is the new way of doing business. It allows you to compare to ensure you are getting the best deal to protect your home, car, business, life, health or family. So questions you need to ask are: 1.who offers the best price? 2. Who offers the most comprehensive coverage? 3. Who offers the most coverage for the best price?

Once upon a time it was widely known that cheap insurance was just that: cheap insurance. It did not cost much, but it also didn’t cover much. This is still true today but Insurance companies are changing their rates all the time. When they have had an expensive run of many large claims they will increase the rate, and when they are looking to attract more clients the lower the rates.

Finding cheap insurance is simple – all you have to do is fill out one request form and brokers will give you a list of insurance quotes online from several companies so you can compare prices. That means you will get quotes from the most compatible providers and the coverage you need is tailor made to your specific needs.

This is a question that nobody can actually provide a concrete answer for. With the US Debt ceiling crisis

out the way, investors concerns seem to have shifted towards uncertainties surrounding global

economic growth. You may be wondering what a “Debt ceiling” is? Well it’s basically the maximum

amount that a government or governmental entity may borrow. When Obama recently announced his

deal to raise the $14.3 trillion US debt ceiling, the “crisis” that really came into being, was the US credit

downgrade initiated by Standard & Poors. i.e. The US’ potential to default on debt was now perceived to

be higher. Stocks on our local JSE tumbled down along with their global counterparts, as investors

quickly shifted funds into other asset classes, particularly to Bonds. By Frida y August however,

stocks were back up by almost 60% of their initial loss, but things still look volatile. It seems that for now

the world’s attention will be on the European PIIGS and the UK unrest. Unemployment and Debt seems

to be the biggest factors weighing on global markets, both of which create remarkably volatile markets.

The worst is not over. Expect a bumpy ride. But be positive and maintain a level head. The future looks

promising, but tomorrow’s uncertain.

So cover your business and yourself for now and keep all insurance up to date.

Have you chosen the best possible insurance company to insure your primary assets? Our brokers can supply imediate quotes. The insurance industry spends a lot of money evaluating potential risk. Get quick car insurance quotes & compare rates from several companies (no risk). Car cover, life cover, long term investments, retirement annuities, medical insurance .

More about car and hosehold insurance in Southern Africa.