How to Purchase Short Term Insurance

August 14 - Almost every citizen in South Africa has been forced to take a long hard look at where their money goes as the cost of living continues to increase at a remarkable pace. When looking to buy short term insurance, many consumers may be faced with a lot of unanswered questions as to what constitutes a good insurance, how to choose one that truly covers them and how they can get the best deal for their money spent.

Insurance experts advise consumers to choose an insurance company with a good industry reputation. This does not mean the company that spends the most amount of money on advertising. A reputable company gives good service when it is really needed and there is no better way of finding out this information than by word of mouth. Consumers are advised to ask around their family and friends to see which companies truly stood out in terms of good service and good reputation.

Consumers are advised not to underinsure their possessions when taking out short term insurance. Their best bet is to consult their insurance agents to get a proper estimate on their goods and then insure them for what they are really worth, as this could save them thousands of rand in the long run should they need to replace their possessions.

Some insurance policies do not cover goods 'in transit' and this could become a huge headache for policyholders should they want to claim on possessions that happened to be 'off-premises' at the time. One of the most important things to check when taking out a short term insurance policy is to see whether the goods are insured at all times, even when taken off the property they are usually found at.

Another thing that consumers can do to keep their insurance costs down is to consider whether certain possessions really need to be insured. Some items, such as cameras and bicycles come with extra high coverage, and consumers can save on costs by simply looking after them better or locking them in a safe place and therefore not covering them on their insurance policy. Sometimes, it pays to take risks - as long as they are calculated!