The Worst year could still get worse
24Nov

The Worst year could still get worse

In an awful year characterized by a dreaded pandemic and “irregardless” officially being recognized as a word (sigh!!!!), the unpleasant truth is this year could still get worse for you. The festive season is fast approaching and as cheerful and merry as it gets, this is a season that has claimed many lives mainly due […]

WHAT IS INSURANCE?
09Oct

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.

REASONS FOR RENEWAL INCREASES
09Oct

REASONS FOR RENEWAL INCREASES

Here is a compiled article of Frequently Asked Questions courtesy of Alexander Forbes

VIS MAJORS
09Oct

VIS MAJORS

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!

DO I NEED ACCIDENTAL DAMAGE EXTENSION ON MY HOUSEHOLD CONTENTS COVER?
09Oct

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.

AVERAGE CLAUSE
09Oct

AVERAGE CLAUSE

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.

OF INSURANCE AND INFLATION
09Oct

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.

WHAT IS THIS SASRIA I AM PAYING A PREMIUM FOR ON MY POLICY?
09Oct

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.

THE ROAD ACCIDENT FUND
09Oct

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).

INSURANCE FOR NEW BUSINESSES!
09Oct

INSURANCE FOR NEW BUSINESSES!

As a new business owner, the last thing you want is the loss of your property or legal battles against. A new business needs insurance because it helps cover the costs associated with property damage and liability claims. Without business insurance, business owners may have to pay out-of-pocket for costly damages and legal claims against their company.

WHAT IS TOP-UP / CREDIT-SHORTFALL COVER?
09Oct

WHAT IS TOP-UP / CREDIT-SHORTFALL COVER?

Credit shortfall insurance, also called Top-up or Gap insurance, exists to cover the difference between your vehicle’s retail value (usually the amount the car is insured for) and the amount you owe on your vehicle loan (settlement amount).

CONTACT AYOBA INSURANCE BROKERS FOR FREE WILL AND LAST TESTAMENT DRAFTING
23Sep

CONTACT AYOBA INSURANCE BROKERS FOR FREE WILL AND LAST TESTAMENT DRAFTING

There has been of late an increasing number of reality television shows that focus on the disputes which emanate within families for a deceased’s estate. The likes of “will wars”, “Ifa lami” and “kukithi la” are a few of the reality shows that delve into the ugly consequences of not leaving behind a will or testament after one passes away. It is heart-breaking to see orphans lose everything their parents worked for simply because the parents did not make known their intentions on how their wealth ought to be distributed in the unfortunate event of their demise.

THE DOCTRINE OF VICARIOUS LIABILITY – WHEN IS AN EMPLOYER LIABLE?
23Sep

THE DOCTRINE OF VICARIOUS LIABILITY – WHEN IS AN EMPLOYER LIABLE?

Under the vicarious liability doctrine, an employer can, in some circumstances, be held legally responsible for an employee’s misconduct.

ARE YOU SURE YOU ARE COVERED AGAINST POWER SURGE AND DIPS?
22Aug

ARE YOU SURE YOU ARE COVERED AGAINST POWER SURGE AND DIPS?

Most insurance policy holders make the mistake of assuming that they are automatically covered against losses caused by power surge and dips on their domestic and commercial policies. With Eskom having recently announced that there will be more load shedding due to a severe strain on the power system, it is not only the long cold hours in the darkness we are all worried about but also the risk of our appliances/homes/offices being damaged by power surges or dips when the electricity is restored. Power surges that blow your appliances usually occur when the power come backs on.

DEPARTMENT OF TRANSPORT ANNOUNCEMENT
22Aug

DEPARTMENT OF TRANSPORT ANNOUNCEMENT

The Department of Transport has announced an extension on the validity period of learner’s licenses, driving license cards, license discs, professional driving permits and the registration of motor vehicles.

INSURING YOUR MOTOR VEHICLE AND MOTORCYCLE EXTRAS AND ACCESSORIES
22Aug

INSURING YOUR MOTOR VEHICLE AND MOTORCYCLE EXTRAS AND ACCESSORIES

Insurance policies provide cover for your “standard” motor vehicle and/or motorcycle. This means that you must advise your broker of any extra items you have added onto the vehicle so they can be covered too.