The Road Accident Fund
If you or a family member have been injured or killed in a motor vehicle accident because one of the drivers was negligent, you may be eligible to claim from the Road Accident Fund (RAF).
What is this SASRIA I am paying a premium for on my policy?
It is a general practice across the global insurance markets that losses emanating from terrorism, riot, civil commotion, strikes and public disorder are an exclusion. Amongst other reasons, insurers are reluctant to provide cover for these because, unlike other risks, their historical data is scarce, the occurrence is not random, and they are often geographically concentrated.
Of Insurance and Inflation
Simply put, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.
Defining the Clause
This can be defined as a clause in an insurance policy that restricts the amount payable to a sum not to exceed the value of the property destroyed and that bears the same proportion to the loss as the face of the policy does to the value of the property insured.
Depending on insurers, the average clause will usually not apply on agreed insured sums such as on a motor vehicle. Most motor vehicles are insured on a retail, market or trade value basis.
Do I need Accidental Damage Extension on my Household Contents Cover?
There is a general assumption amongst most that when purchasing household contents insurance, they automatically get cover for all unforeseen accidental events. After all, insurance is meant to cover accidental incidents, right? This may be one of the reasons some have been left feeling hard-done when they presumably submitted valid claims which were subsequently rejected with the reason being “not covered”. This short article is meant to clear the air on the scope of cover in one’s household contents cover.
Some say the only certainties are death and taxes. Nothing else can hold the same level of probability. This, however, does not mean everything else holds the same probability as the sun rising from the north!
Reasons For Renewal Increases
What Is Insurance?
Simply put, Insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for a payment in monetary terms.