How to get insurance for your looted business with Wendy Knowler
With
so much of our city destroyed, and businesses and consumers having suffered
devastating losses, who is insured for what has become a critical issue, says
Consumerwatch’s Wendy Knowler
If you have car and household contents insurance cover, then a tiny part of your monthly premium is paid every month by your insurer to Sasria, a government-owned insurer providing cover against risks such as civil commotion, public disorder, strikes, riots, and terrorism.
The good news is while Sasria’s (the South African Special Risks Insurance Association) policy wording states that looting in itself is not considered to be a Sasria event, Sasria accepts that it falls under civil commotion, so all related losses are covered.
READ MORE: Edgars account holders frustrated by unfair extra monthly charges, Wendy Knowler explains
More
good news is that Sasria MD Cedric Masondo says they have enough capital to
cover what he currently estimates to be claims of between R3.5-billion to
R7-billion.
About 85% of all commercial properties and government buildings in South Africa have Sasria cover, along with all privately mortgaged properties, and all insured cars. The two thirds of cars on our roads which aren’t insured, don’t have this civil commotion cover.
But there’s something you need to check about your household contents cover. Take a listen…
Contact Wendy
Get in touch with Wendy via her website or her Facebook page. Please note that Wendy is not able to personally respond to every email she receives. If she is able to take up your case, she will contact you directly. Here are other avenues for you to consider.
Listen to more podcasts from Wendy Knowler in the Consumerwatch channel below:
Main Image Courtesy: Pixabay