Unfortunately, short-term insurance is something most of us only think about when it is too late.
Short-term insurance helps you plan for the unexpected so that seemingly disastrous events like a road accident, theft, a house fire or flood are far less devastating than they might otherwise be. Simply put, insurance is there to help you.
For instance, if you are a policyholder and worse comes to worst – your laptop or cell phone gets accidentally damaged or stolen – your insurers will pay you the replacement value of that item.
There are different short-term products available. To help you choose the one that’s best for you, we’ve compiled a list of the four most commonly used products:
1. Home Insurance
Home insurance helps you own a home because lenders need to know your home is protected.
- A standard home insurance policy insures your home itself along with the things inside it.
- Your home is insured against theft and loss or damage by fire, storm, wind, water and hail.
- You can also extend your policy to include All Risks cover on valuables (such as cameras, laptops and jewellery) when you take them outside your home.
2. Vehicle Insurance
Vehicle insurance helps you drive vehicles because very few people can afford the repairs and medical expenses associated with road accidents and injuries without coverage.
- Comprehensive vehicle insurance is coverage that helps pay to replace or repair your vehicle if it is stolen or damaged by fire, vandalism, riots or hail.
- Third party covers damage to others and their vehicle(s) if you cause an accident but NOT any damage to your own car.
- Third party, fire and theft covers the same as the above, as well as fire and theft. This is a common form of reasonable cover.
3. Business Insurance
Insurance helps keep your business going when calamity strikes.
- Business insurance protects your business premises, assets and stock against theft, fire and storm damage.
- You can also be covered against business interruption.
4. Travel Insurance
Insurance helps you enjoy your holiday with peace of mind. Travel insurance may cover travel delays, lost, stolen or damaged luggage, emergency medical care and lost passports.
Don’t be caught unawares. Insure your assets for a peace of mind kind of life!