Top tips to remember over the holidays
Has rounded up the top 10 tips you should implement or keep in mind as you set off or settle in at home for the holidays
Make that your short-term insurance is up to date so that you are fully covered if you need to make a claim.
This is particularly important if you plan to rent out your property over the festive season, says Craig Young, managing executive for oobainsure.
When you look at your insurance, remember that you need to consider building insurance, which covers the structure of your home and fittings; contents insurance, which covers the assets within your home; and liability insurance, which covers you if you have guests who are injured while on your property. 2going
If you are to make purchases online, ensure that you use secure websites. Ideally, any website that you shop on should have https in the address line and a padlock icon to indicate that your banking details will be encrypted. 3travelling, If you are going to be let your bank know in advance, so that it doesn’t flag your
Update your insurance:
banking activity as “suspicious”. The last thing you want is to be on a holiday with a frozen bank card. 4details
Check the of the automatic travel insurance you are offered with your credit card and buy top-up cover if required. Remember that medical costs when you are abroad can escalate quite quickly, particularly if you take the value of the rand into account. 5
If you are travelling, leave a copy of your itinerary with a family member or friend so that they are able to get hold of you in an emergency.
Peter Dempsey, the deputy chief executive of the Association for Savings and Investment SA, says you should also set aside a file for your family that contains the following documents: details of your financial adviser, your life insurance policy details, your last will, your disability policy, your medical scheme details, information on your short-term insurance policies, your bank account details, information about your retirement annuities and other retirement savings, and details of all
Travel insurance: Important documents:
“Should anything happen to you, your family needs to be able to easily find the necessary information regarding who to contact and what steps to take financially,” says Dempsey.
“This information should ideally be gathered in a single secure file in your house.” 6car
Make sure your is in a roadworthy condition before setting off on a road trip.
Nazeer Hoosen, executive director of PPS Insurance, says you should make sure your car is in a roadworthy condition by performing some simple safety checks, or by having the car properly serviced. Some examples of safety checks include checking that the tyre tread is at its legal 2mm tread depth and that the tyre pressure is correct for the vehicle (both front and back tyres); inspecting the brake fluid, oil and water levels; ensuring that all lights (front and rear) are in working order; and making sure you fully understand all the warning lights displayed by the vehicle. 7or
Ask a friend family member to keep an eye on your property if you are going away.
Marius Neethling, manager of personal lines underwriting at Santam,
Check your car:
Secure your home:
says you should check that your alarm is in good working condition. This includes checking smaller details such as the batteries of your alarm system and the alarm remotes.
“People spend thousands of rands on monitored alarm systems, burglar bars and security gates. Having these checked once a year to ensure that everything is working as it should can be very helpful in terms of identifying possible risks that need to be addressed,” he says. 8Switch
off the taps in the kitchen that feed your washing machine and dishwasher, and switch off your geyser at the mains board. You don’t want the hassle of dealing with a burst geyser or pipes when you get back from your holiday. Ruined carpets and damaged furniture are just a few of the results you would be forced to contend with. 9to
It is usually easy cancel a flight by calling either your travel agent or the airline directly. However, complications arise when you ask for a refund. Each airline, and even the type of fare you buy initially, has
different requirements to allow for a refund. It is best to check these with your agent or your airline before cancelling your ticket. 10out
If you plan to rent your home via Airbnb, remember to check with your insurer that you will be covered for any damage to your property. Christelle FourieColman, CEO of MUA Insurance Acceptances, says it is imperative that you inform your insurer of the arrangement.
“Not all insurance policies are created equal and many exclusions may apply when renting out a property,” she says.
Fourie-Colman points out that another major problem for homeowners renting out their property is that most homeowners’ insurance policies will require proof of forced entry to pay out for any theft while guests are renting the home.
“It is a good idea to have a written and signed agreement with the lessee so that they are made aware that they will be held liable for any stolen or damaged items if there are no signs of forced entry,” she warns.