South African Insurance Policy Owners Are Underinsured! |
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A recent study has found that short-term insurance policy owners in South Africa are incredibly underinsured, and putting themselves at considerable financial risk as a result. The survey, conducted by a local market research company, found that policyholders are underinsured by as much as 45%! What does this mean in a practical sense? Say you own a household insurance policy and your goods are insured for R200,000 - the actual value of those goods, based on this survey for South African homes, would be closer to R350,000. That's a whopping difference, and can leave you out of pocket in the event of a burglary. The issue for a lot of South Africans who own insurance policies is that they fail to update the replacement value of their assets. You may have bought a table in 2000 and spent R5000 on that table, but replacing that same table today in 2006 will cost you R8000. That's how policy holders become underinsured, and that's why if you're like most people in this country you really need to consider purchasing more short-term insurance today. Related Insurance Articles: * Santam Insurance Ranked Top Insurance Broker In South Africa * Budget Insurance Offers A Smart Alternative To Motorists * South Africans Take Gamble On Car Insurance * Car Insurance Premiums In South Africa Rising * Cheap Premiums From South African Insurance Companies 
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| 3/14/2010 7:05:55 AM | |||||||||||||||||||||
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