Having ownership of anything of value invariably comes with a variety of risks; with eventualities like theft, loss, damage and destruction immediately jumping to mind.
As an owner, you can choose to move these risks to an outside party (the insurer). This means that in exchange for a sum of money (premium) that you pay to the insurer at regular predefined intervals, the insurer will offer you an agreed lump sum should any of the risks come to bear.
This is the basic premise of short term insurance.
Short Term Insurance Categories:
- Personal Insurance
- Business Insurance
- Body Corporate Insurance
- Farmers Insurance
- Contractors Insurance
- Bed & Breakfast / Guesthouse Insurance
- Boat Insurance
Things to remember:
- Retired Persons can qualify for a discounted premium and sometimes an excess-free policy.
- If you select additional/ higher excesses (motor, building and household goods) you can reduce your premiums.
- Discounts are also offered if certain security measures are taken.