You may be well aware of the current unrest that is in progress in KwaZulu-Natal and Gauteng and spreading rapidly into other areas of the country. Many leading Insurance companies have already opted to close doors to new business and cover increases during this time as people scurry to insure their assets.
These insurers will honor any currently valid quotes that were requested prior to the unrest (9 July or before) so if you obtained quotes but havnt pulled the trigger, you should consider taking the cover up before the quotes expire. At the time of writing, we do not know when these insurers will begin to accept new policies again but only know that it will be once order has been restored.
What all policyholders need to ensure is in place is SASRIA cover. They are the only non-life insurer that provides special risk cover to all individuals and businesses that own assets in South Africa, as well as government entities. This is unique cover against risks such as civil commotion, public disorder, strikes, riots and terrorism, making South Africa one of the few countries in the world that provide this insurance.
Through some insurers, such as Santam, you can take out SASRIA cover as a standalone policy with an upfront / annual premium payment only. Such cover can be taken out at anytime. However, they will not cover pre-existing damages that exist, including damage caused by the current unrest. Proof of this may need to be provided at claims stage.
A special thank you to all the law enforcement, private security firms, medical personnel and other emergency services for all they do to protect and serve. A great thank you to all the citizens that are protecting and cleaning up our communities. Let us Pray for South Africa.
