Reduce Your Risk This Holiday Season
Just before you go on holiday is a good time to check that all your insurance policy details are up to date and that you are holding up your side of the policy agreements, so that, if you need to claim, it will be straightforward.
Our Insurance Advisors suggest that you review six key policies before you let your hair down and kick back for some much-needed rest and relaxation this Festive Season.
First of all, if you are going on an epic adventure, be sure to have travel insurance that covers you for lost luggage, cancelled flights and unexpected medical expenses. Second, check that the cover for your home contents is adequate – in other words, that the sum insured accurately reflects the replacement value of the entire contents of your home.
Third, ensure that your homeowner’s insurance (for the buildings) is in order. This covers events including fire or water damage from floods or a burst geyser.
Fourth, check your all-risks cover, and the limits thereof, especially for items you are taking with you on holiday. Certain items of value may need to be specified or insured separately.
Fifth, if you are travelling by road, check your vehicle insurance. Among the things to consider are –
- Who is insured to drive your vehicle (should you be sharing the driving load)
- If you are covered for emergency breakdowns, accommodation, roadside assistance and car hire, and upgrading your cover if necessary
- If you have a trailer, make sure it is insured
- If you are crossing into a neighbouring country, you’ll need a letter from your insurance company stating that the vehicle is insured for cross-border travel
- A letter of authorisation from the financing bank stating that the car may be driven across the border, as it is the property of the bank until it is paid off.
- In the unfortunate event that you are in an accident, personal accident insurance will pay out compensation to you and/or your family if you are involved in a serious accident that causes injury or even death.
Lastly, is your medical aid / gap cover and life and disability insurance is adequate for your current personal and family circumstances?
For more information on how to mitigate your risk during the holiday season, please contact one of our friendly Insurance Advisors today!