With inflation and financial concerns on the rise, it's crucial to review your insurance policies and ensure you're getting the best value for your money while still protecting your assets.
In light of pressing financial challenges, it becomes essential for individuals to reassess their insurance policies to ensure they are receiving optimal value while safeguarding their valuable possessions. Ranking inflation on everyday items as a top financial worry along with interest rates (55%) and job security (52%), according to the TransUnion Consumer Pulse Study`Q2 2024.
Due to these financial pressures, it is crucial to reassess your insurance to check if you are getting value for your money while still protecting your car, home, and belongings as we move into 2025. Wynand van Vuuren, client experience partner, King Price Insurance, offers practical tips to ensure that your insurance is comprehensive yet affordable: According to van Vuuren, the first step is to understand where you are most vulnerable to financial loss. You need to ask yourself how you would cope if your car was involved in an accident or if your home suffered fire damage. Could you afford to take care of the repair costs out of your own pocket? 'Some people opt for reduced cover on their cars to save money, but this potentially leaves them unprotected against accident damage, which is the most common type of claim we see,' Van Vuuren said. Are you still paying to cover items you no longer own? Do you still have shortfall cover for cars that are already paid off? Has your vehicle aged a year, but you’re still paying last year’s premium? Do you work from home, making your house more secure because it’s always occupied? Van Vuuren said that by showing that you pose a lower risk, you could qualify for a lower premium. You could also reduce your insurance premium by installing a tracking device in your car or upgrading your home security. It is essential that the contents of your home are insured for their current replacement value, not what you originally paid for them
Insurance Financial Pressures Inflation Value Protection
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Angola and US Strengthen Ties Amidst Lobito Corridor ProjectAngolan leaders met with US President Joe Biden at the White House during the U.S.-Africa Leader Summit, showing improved relations and potential for future economic cooperation despite challenges with the Lobito Corridor project.
Read more »
French Star Struggles at Real Madrid Amidst Penalty Miss and Form ConcernsKylian Mbappe has failed to make an impact in his preferred left-wing position and missed a crucial penalty leading to Real Madrid's 2-0 loss at Anfield. Despite facing criticism, the club maintains patience and believes Mbappe will soon regain his form.
Read more »
Namibia Opposition Rejects General Election Results Amidst Logistical IssuesVoting extended due to logistical problems, including ballot shortages and technical malfunctions. The opposition party refuses to acknowledge the election's legitimacy, citing numerous electoral malpractices.
Read more »
Siya Kolisi Returns to Church Amidst DivorceSpringboks captain Siya Kolisi returns to his family church in Durban following a year abroad, highlighting his commitment to his faith during his public divorce from Rachel. The rugby player shared a snapshot of his return via Instagram.
Read more »
Nasreddine Nabi Supports Kaizer Chiefs' New Leader Amidst Discipline ConcernsNasreddine Nabi speaks positively about Kaizer Chiefs' new leader, addressing discipline issues while supporting the player's efforts to adapt to South African football. The team is currently ranked sixth in the league.
Read more »
Minister Mchunu Arrives in Stilfontein Amidst Illegal Mining StandoffPolice Minister Senzo Mchunu has arrived in Stilfontein to address the ongoing impasse between law enforcement and illegal miners, with controversial measures taken to clamp down on illegal mining operations.
Read more »