It is easy to get swept up in that end of the year rush as everyone begins to prepare to close the doors for the holiday. Before you hang up your office keys, it is important to evaluate your insurance policies so that your financial investments are secure over the festive season.
As things start to simmer down within your business, take advantage of the lull to sift through those all-important insurance policies that keep your business safe. Business break-ins reached an all-time high in 2017 with a shocking 57 invasions per day. Criminals are becoming more sophisticated and innovative, targeting the valuable electronic equipment that ensures efficiency in your organization. Ensure that all of your important electronics are insured, conduct a perimeter check for any unwanted entry points, triple check locks and burglar bars, and test the functionality of your alarm. Once you have done this risk assessment you can make the necessary changes thereafter.
African summers are characterized by torrential thunderstorms, and due to the volatility of the weather, building insurance is essential. Heavy rain may cause leaks and extensive damage to your business’ building, the damage that is exacerbated over a holiday when it may go unnoticed for a long period of time. Additionally, a particularly hot holiday season brings the risk of fire and should a fire, unfortunately, erupt and impair your building, you will need to have the correct coverage in place in order to prevent detrimental financial losses.
Company vehicles that remain on the premises during the holiday season are exposed to the risk of grand theft auto. Without motor insurance, the expense to replace the vehicles is exponential, and an updated policy is a necessity when preparing for the end of the year.
After a busy year, holidays are much anticipated for the chance to relax and rejuvenate amongst family and friends. However, this positive feeling will be very short-lived if you return home to find that your doors have been destroyed and your house has been ransacked. Without household insurance, it may be impossible to replace what was lost and restore your house to its former state. Such violations of privacy are emotionally devastating, but they shouldn’t be financially so. As well as protecting your material investments, household insurance will also cover accidental damage to items and loss through acts of nature, such as extreme weather or a fire.
If you are travelling for the holidays, then travel insurance is vital – we want to make sure your trip away is as stress-free as possible. Crime and misdemeanour may not be at the forefront of your mind when planning a trip abroad, but they should be considered nonetheless in order to avoid the financial burden that pickpocketing and lost luggage can incur. A comprehensive travel insurance policy is as important as your passport and itinerary to make sure your trip is as smooth as possible.
There are approximately 900 000 vehicle accidents on South Africa’s roads every year, and around eight million uninsured vehicles. If you fall into this category, now is the time to remedy the situation. Vehicle insurance will cover you against damage to, or loss of, your vehicle in the unfortunate event of an accident. It can also cover you for the cost of repairs to another vehicle if the accident was the result of an unintended fault on your part.
Don’t wait for an accident or incident of crime to teach you about the importance of insurance. Get the coverage you need today before you head off to relax. Get in touch if we can help you in any way.