As the festive season approaches, South Africans gear up for holidays, family gatherings, and end-of-year celebrations. However, Karen Rimmer, Head of Distribution at PSG Insure, says that homeowners and business owners should prioritise an essential task: reviewing and updating short-term insurance policies to safeguard valuable assets.
“At this time of year, when people often leave their homes and apartments unattended, it’s important that your insurance policies reflect the current value of your possessions and that your security measures are in place and properly utilised,” Rimmer advises. “A proactive approach to short-term insurance can make a significant difference when it comes to effectively protecting your property and your business.”
Avoiding common insurance pitfalls
One frequent mistake is neglecting to update insurance policies when circumstances change—such as following renovations, new security system installations, or the acquisition of valuable items. “Accurate, up-to-date information is essential to avoid issues at claim time,” Rimmer says. Many people are also unaware of policy exclusions or conditions that could impact claims, so thorough review of policy documents is vital.
Rimmer stresses the importance of correctly using security features. “For example, if your policy stipulates that you have an active alarm system, the alarm must be used whenever the property is unattended. Failing to do so could affect the outcome of a claim.”
Protecting unattended properties and businesses
If you plan to leave your property or business unattended, Rimmer suggests implementing robust security measures. “Consider CCTV surveillance, alarm systems, and secure locks. Remove valuable equipment and documents or ensure they are safely stored. Hiring security guards or using remote monitoring services can also provide additional protection.”
To further safeguard your property, Rimmer recommends:
Hiring a house sitter: This can deter burglars. If unavailable, use solar or timed lights to create the impression that someone is home.
Arranging for mail collection: Ask a neighbor or friend to collect mail and newspapers, as visible accumulation can signal that your property is unattended.
Securing alarm systems and locks: Test alarm systems and check that all locks are secure, considering the addition of cameras for extra peace of mind.
Being cautious on social media: Avoid sharing your holiday plans online until you return to prevent alerting potential thieves.
Planning with your insurance adviser
“A well-prepared insurance plan provides the peace of mind that lets you focus on what truly matters during this time of year,” Rimmer says. “Working with a short-term insurance adviser ensures that your cover considers all relevant factors. Updating your insurance policies early is key to enjoying a stress-free holiday.”
PERSONAL FINANCE