biometrics
Well-Known Member
- Joined
- Oct 17, 2019
- Messages
- 20,325
Tips, tricks and traps.
I suspect I am over insured but working out my house contents is a big task. What is the implication of that?Don't go for the cheapest.
Don't over or under insure.
There is the possibility that your claim (when you have one) will be apportioned according to the insurers calculations. So if you insure for R10 and your contents is worth R8. Your claim will be apportioned at that rate. So you would have wasted money each month that you will never get back. If the amounts are vast, there is the possibility of being accused of fraud.I suspect I am over insured but working out my house contents is a big task. What is the implication of that?
It's a huge job! How do I even value a desk? How do I value a perfectly good i7 laptop from 2012? It's not worth much now but the replacement value is R20k. Guess the problem is Santam or PSG auto escalates/depreciates.There is the possibility that your claim (when you have one) will be apportioned according to the insurers calculations. So if you insure for R10 and your contents is worth R8. Your claim will be apportioned at that rate. So you would have wasted money each month that you will never get back. If the amounts are vast, there is the possibility of being accused of fraud.
Just creat a spreadsheet with all your household items and place values next to them. Keep it updated every year, and you should be fine. It is a big job the first time.
You should also ask santam to revise. AnnuallyIt's a huge job! How do I even value a desk? How do I value a perfectly good i7 laptop from 2012? It's not worth much now but the replacement value is R20k. Guess the problem is Santam or PSG auto escalates/depreciates.
Just got a quote from Outsurance that is 30% less than Santam. Devil is in the details though, will have to compare the two, so tedious.
It's automatic.You should also ask santam to revise. Annually
Nope.It's automatic.
Santam started on R1.5k excess. Eventually was on nearly R6k because I thought they wouldn't do the same. I had to fight them as escalating excess was not something I agreed to when signing up.Mine increases each year (automatically). They send me the docs and I adjust it again if I don't agree.
My excess never changes.
It is in your own best interest to read all the documents sent to you.
They tried that with me when buying this car. I had called them twice. 3 days before and 2 days before.Have asked my contact at PSG to compare the Santam and Outsurance quotes. I suspect thinks are not as clear cut.
The Outsurance process to get a quote sucks, spend 40 minites on the phone, couldn't hear half of what they said. They do a hard sell which I really dislike. After telling the guy I need to deal with clients and need to drop the call and he needs to mail me the details he still tried to hard sell me. Even phoned back (when I told him not to) with an improved offer another few hundred rand less. Yeah don't do that, I distrust you already.
iow HollardI am fairly content with Naked insurance. Took me 5 minutes to sign up and pick an option that suited me.