We have identified a number of popular questions that our team of short-term insurance experts often receive. While some aspects of insurance is straightforward, there are nuances that at times require a little bit of explaining.
This section is dedicated to helping answer any insurance-related questions that you may have. If you don’t find what you are looking for, you can always drop us an email at info@kayserbaird.co.za and our friendly team of insurance specialists will get right back to you.
Here’s all you need to know about all risk insurance.
A: Any items that are removed from your home on a regular basis, such as cell phones, laptops, cameras, GPS navigation devices, jewellery, bicycles, sporting equipment, etc. should be specified in order for you to enjoy cover for these items outside of your home.
We strongly recommend that all portable electronic equipment and cellular devices are insured under the all risk section, as these items are generally not covered for accidental damage under the house contents section, regardless of where the loss occurs.
A: Your insurer may choose to compensate you by one or more of the following methods:
It is important to note that you are insuring an item, not a monetary value, therefore, if your insurer is able to replace an item for less than the specified insured amount, they are entitled to do so.
A: Insurable interest is the interest that a person has in a particular item, which means that the person would suffer a loss should that item be lost or damaged. You must stand to suffer a direct financial loss in the event of a claim.
Simply put, you can only insure items in which you have insurable interest. Insurable interest must exist both at the time the item is added onto the policy and at the time of that a loss occurs.
Here’s all you need to know about car insurance.
A: The cost to repair vehicles and replace parts increases every year, and your insurance premium increases as a result. Most of your vehicle claims that you will have in your lifetime will be repairs, and the cost of repairing a vehicle is not impacted by the value of the vehicle or the year model.
A: No, if your vehicle has been entrusted to somebody else as part of a sale process, you will not be covered if the vehicle is stolen. It is your responsibility to protect yourself against losses that occur under false pretences by taking due care with your belongings.
A: “Private Use” means that you only use your vehicle for private, social or domestic purposes, such as driving between your home and regular place of work, visiting friends or going to the shops.
“Business Use” means that your vehicle is being used for business purposes on a regular basis. This would include individuals who are sales representatives, estate agents and consultants. If your line of business includes carrying stock or tools, or if it is being used for deliveries, you would need to insure your vehicle on a Commercial policy.
A: You have the option to insure your vehicle in one of three ways :
A: Insurable interest is the interest that a person has in a particular item, which means that the person would suffer a loss should that item be lost or damaged. You must stand to suffer a direct financial loss in the event of a claim.
Simply put, you can only insure items in which you have insurable interest. Insurable interest must exist both at the time the item is added onto the policy and at the time of that a loss occurs.
Here’s all you need to know about house contents insurance.
A: House Contents insurance provides cover for non-fixed items in your home against loss or damage caused by an insured event, such as theft, burglary, fire, explosion, malicious damage, storm, flood, or lightning. This section can also be extended to include cover for accidental damage, mechanical & electrical breakdown, or power surge.
A: In the event of a claim, if, according to the insurer’s calculations, the amount needed to replace all of your insured contents with similar or new property at the time of any loss or damage, is more than the insured amount, average will be applied.
For example :
You have insured your House Contents for R250 000.00
The actual replacement cost is R400 000.00
You have a claim for R100 000.00
You will be paid as follows:
R100 000.00 x R250 000.00 divided by R400 000.00 = R62 500.00
A: Insurable interest is the interest that a person has in a particular item, which means that the person would suffer a loss should that item be lost or damaged. You must stand to suffer a direct financial loss in the event of a claim.
Simply put, you can only insure items in which you have insurable interest. Insurable interest must exist both at the time the item is added onto the policy and at the time of that a loss occurs.
Kayser Baird was founded in Durban in 1986. We have grown to become one of the largest and most successful independent brokers in the country.
Directions to Cape Town Office :
If you are coming from Cape Town CBD on the N1, take the Willie Van Schoor/Durban Road turn-off and then turn left at the intersection. When you get to Bill Bezuidenhout Avenue turn left, then carry on straight until you get to Carl Cronje Drive.
Turn right at the intersection and then immediately left into the Avanti Tower Office Block.
If you are coming from Paarl on the N1, take the Willie Van Schoor/Durban Road turn-off and then turn right at the intersection. When you get to Bill Bezuidenhout Avenue turn left, then carry on straight until you get to Carl Cronje Drive.
Turn right at the intersection and then immediately left into the Avanti Tower Office Block.
Directions to Durban Office:
If you are coming from Durban go up fields hill, past the Kloof Village Rd turn-off and then take the Abrey Road turn-off (exit 24) as if you are going to the Kloof Golf Course. When you get to the top of the glide-off turn left, left again into Lyngarth and when you get to the T-Junction at Abrey Road you will see our building on your left hand side.
Coming from Pmb / Hillcrest take the Abrey Road turn-off (exit 24), turn right over the M13 and turn left in Lyngarth. At the T-Junction at Abrey Road you will see our building on your left hand side.