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Short Term Insurance South Africa

Short Term Insurance


Short term insurance is the most subscribed type of insurance available. It is available to cover so many contingencies that a complete overview would require a long list, but the most common types are typically household insurance, health insurance and vehicle insurance. In effect, short term insurance refers to any type of insurance that isn't life insurance.

The most basic form of insurance is simply a contract between a client and an insurance company, whereby the client pays a fixed monthly sum, known as a premium, in return for which the insurance company undertakes to replace any of the items covered by the insurance company should they be lost, stolen or damaged. Premiums are calculated according to the payout value of the goods that are insured, and typically the client gets to specify this value.

When it comes to claiming and payouts of short term insurance, there are two ways to set values. There is replacement value and market value. Taking out insurance at market value means that the client will be recompensed to the value of the sum that the insured article would have fetched in the market at the time of loss. Insurance at replacement value means that the insurance company will pay out whatever it will cost to actually replace the item that has been lost. It is clearly better to insure at replacement value, to avoid what is known as an insurance shortfall. This occurs when the amount paid out is not enough to allow the client to replace the item. Of course, in return for this higher payout, the monthly premium is usually higher for insurance set at replacement value.

You can take out short-term insurance on your house, your cars and other vehicles, household items, jewellery, your business and its assets, amongst many other things. There is also a form of short term insurance that covers you against loss of income, be it in terms of losing revenue for your business, or being retrenched and thus unable to pay your bills. The latter is known as income protection. You can in fact even take out insurance against not being able to pay your insurance premiums!

Companies other than traditional insurers have also started offering various types of short term insurance. For example, a company that issues you with a credit card will now routinely offer you low-premium insurance cover against being able to pay off your monthly card installments.

South African Short Term Insurance Companies



SA Eagle Insurance
SA Eagle has a oong standing reputation in South Africa. They will insure any vehicle from your motorbike to your 4x4. This is a solid short term insurer that you can count on. They use a broker network.

Auto & General Insurance
Short term insurance specialist Auto & General has been around for over 20 years. they offers car, home and business insurance products.

Dial Direct Insurance
Started a few years ago, Dial Direct has grown to be one of South Africa`s largest short term insurance companies. Offers great deals by allowing customers to go direct cutting out the broker.

MiWay Insurance
New short term insurance company, Miway, offers comprehenive short term insurance products that are affordable and easy to understand.

Virgin Insurance
Short term insurance company Virgin Insurance has been in business since March 2010, offering vehicle and household insurance products.



Insurance Companies
1Lifedirect 1Lifedirect offers Life Insurance
1st For Women 1st for Women offers Car Insurance
Auto and General Auto & General offers Car Insurance
Budget Insurance Brokers Budget Insurance Brokers offers Car Insurance
Dial Direct Dial Direct offers Car Insurance

Discovery Life Discovery Life Insurance

Hollard Insurance Hollard offers Car Insurance Hollard offers Life Insurance

Liberty Life Liberty offers Life Insurance

Hippo Hippo offers Short Term Insurance
Momentum Momentum  offers Life Insurance
Virgin Insurance Virgin Insurance offers Short Term Insurance

Offers Short Term Insurance Short Term Insurance

Offers Long Term Insurance Long Term Insurance


Short Term Insurance South Africa

2017/08/20 11:17:02 PM
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