The department of basic education has denied that some Limpopo schools are still without textbooks.
Unexpected events are part and parcel of everyday life. But while a pleasant surprise may present an opportunity to celebrate, an unpleasant shock like a burglary, motor accident or even a burst geyser can completely derail a person or family. This is where short-term insurance can bring much-needed relief.
“Insurance is the mechanism that allows us to recover and to move on,” says Donald Kau, head of corporate affairs at Santam. “The instance of a fire, the flooding of a property, the loss of a motor vehicle or a personal accident can often result in major financial loss and setback for an individual or a family. With suitable short-term cover, which has been properly structured to take into account replacement value, losses can be a hassle and not a disaster.
“Short-term insurance allows us to leads our lives and run our businesses with an element of protection against losses from accidents or disasters. For the most part, we have little control over these events.”
According to Ernst Gouws, chief executive of OUTsurance, budgeting for short-term insurance should be a must in all households. “Most households cannot accommodate the financial loss when an unexpected event causing loss or damage to their property occurs,” he says. “We step in and carry that financial loss for our clients for vehicle accident damage, theft of contents and bursting of geysers, to name just a few. We believe that all consumers who would be financially out of pocket when there is a loss to their assets should have short-term insurance cover in place.”
Short-term insurance doesn’t just protect; it also empowers, says Craig Pogir, a financial consultant. “Insurance helps you own a home, because if your property is bonded, banks need to know your home is protected. It also helps you drive vehicles — people insure their vehicles because few people can afford the repairs in the event of an accident.”
But, says Gerald van Wyk, head of intermediary support at Discovery Insure, while short-term insurance is an important element in financial planning, minimising the financial risks that are part of normal life involves a lot more than just buying short-term insurance.
“Taking the time to identify and understand the dangers that you face every day and changing your behaviour accordingly is a very effective means to ensure your own and your family’s safety and security. A good insurance product thus not only provides you with the best insurance cover for your needs, but also helps you manage your personal risk through knowledge and awareness and helping you improve your behaviour.”
Van Wyk strong advises against structuring a short-term insurance policy without the assistance of a qualified short-term insurance intermediary. “The guidance and advice of an intermediary can prove to be invaluable in helping you choose the best insurance cover for your needs,” he says. “Intermediaries fulfil an important role as risk coaches, where the advice they provide to clients simplifies their insurance needs and helps clients lessen their risks, thereby reducing their insurance costs.”
Kau agrees: “An insurance broker is able to structure the best deal for you so that your insurance needs are met properly. He or she is responsible for helping you manage your risk so that your property and family are covered at the best price. They are best suited to advise you on how to manage your portfolio and avoid unnecessary penalties.”