Low-Cost Insurance Product Launched |
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July 27 - Leading South African insurer Santam has launched the country's first affordable household insurance product specifically catered to the lower-income sector. Known as Santam MultiHome, the new low-cost insurance product was initially launched to homeowners in Soweto. Said Santam spokesperson, Mpumi Tyikwe,' We are extremely proud of our new Santam MultiHome product as it was a first in line with the banking sector's entry-level 'Mzansi-style' low-cost products, and gives Santam access to a new and expanding consumer base.' MultiHome boasts monthly premiums as low as R15 to suit lower income bracket South Africans. Previously, the majority of these South Africans did not have an understanding of or access to conventional household insurance coverage. Tyikwe pointed out that MultiHome was developed in the wake of recommendations made by the Financial Sector Charter that the South African insurance industry improve access to insurance from the lower end of the market. 'This is an insurance product that offers comprehensive coverage for people's homes and contents in the event of damage or loss resulting from fire, theft, natural disasters, riots or even strike actions,' he said. MultiHome monthly premiums range from R15 to R240 pm depending on the value of homeowners' property and possessions. All policies come with free personal liability cover up to R100 000. Related Insurance Articles: * Dial Direct Rewards Safe Drivers With Bucks Back Bonus * Dial Direct Takes On Insurance Brokers * SA Now Part of Ace Insurance Network * Dial Direct Protects Your Possessions * Dial Direct South Africa Covers Far More Than Cars * How To Avoid Insurance Scams * Three Simple Ways To Lower Your Insurance Costs * Expensive SA Inusrance Myths - Part 3 of 3 
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| 3/14/2010 7:06:28 AM | |||||||||||||||||||||
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