By TKay Nthebe
As the festive season fast approaches, make sure you are adequately covered against any risk. Many Basotho are familiar with Murphy’s law which states that ‘Anything that can go wrong will go wrong and at the worst possible time.’ Good financial planning includes having the right cover in place should anything go wrong. In this week’s article, I discuss four short-term insurance policies you should have, especially during the festive season.
Car insurance
Car accidents happen a lot during the festive season. You can minimise the financial blow by taking out car insurance. With this policy, you are covered against accidental damage, theft, or malicious damage. As discussed in the article ‘Take care of your insurance needs this Worker’s Day’ you can insure your South African or Japanese import car. There are different types of car insurance covers to choose from depending on your affordability and insurance needs e.g., Comprehensive, fire and theft or third party only.
Domestic Comprehensive insurance
With heavy rains that are expected over the next few months, should your house be damaged, are you protected? As discussed in the article ‘Let’s protect our homes with domestic comprehensive insurance, domestic comprehensive insurance available from Alliance General Insurance covers your house, contents and other valuables against damage or loss caused by fire, lightning, explosion, hail, snow and many other natural disasters.
House content insurance
Many of us leave our homes to travel to various destinations during the festive season. Sadly, the risk of house break-ins increases every festive season. How can you minimise this risk? As discussed in the article ‘Protect your valuables with house content insurance’ you can protect your house content against burglary, the potential damage caused by a geyser burst, impact to the building, fire or natural disasters. Whether you own the house or renting, you can insure your valuables with the house content insurance policy. You can also ask for the All-risk option to cover your electronic gadgets, clothing and jewellery among many others.
Health insurance
The last policy to consider, especially during the festive season is health insurance – medical aid or hospitalisation plan. The cost of medical emergencies and hospitalisation can leave you in financial ruin if you are not covered. As aforementioned, the risk of car accidents is also high during the festive season as people attend various social events. It is advisable to have medical aid as discussed in the article ‘Let’s talk about medical aid’ or a hospitalisation plan that will cover you should you have a medical emergency.
Managing a risk can be overwhelming, it is therefore important to consult your insurance broker for all your insurance needs. I strongly suggest that you ask questions, familiarise yourself with the terms and conditions, and applicable waiting periods and educate yourself about general insurance principles. Do not wait for something to go wrong, be proactive and ensure you are covered. For more information on suitable insurance policies, speak to your insurance broker or visit www.alliance.co.ls
