Everyone wants to protect the people and things that they love, which is why it’s important to be properly insured. However, with so many insurance companies to choose from, it can feel overwhelming to make a decision. Here are the basics to help you make the right choice.
START WITH HOMEWORK
The Internet is a wonderful tool for research, as it allows you to quickly find out both the good and bad about specific insurers. Whilst personal referrals from existing customers are preferred, you can use social media sites to look for customer feedback, and see how the insurer handles complaints and compliments. In particular look at customer complaint rations to get an overall idea of customer satisfaction.
REPUTATION MATTERS
It’s crucial that your insurer is reliable and trusted by customers, especially when it’s time to make a claim. Look for them on the Financial Services Board website to check that they are registered and operating legally.
CHECK FINANCES
Your insurer needs to be in good financial health. Do your research on their claims payment history to see if they can be trusted to meet their financial obligations to you and your beneficiaries, when the time comes for payment.
PRICING
South Africa has a wide variety of insurance companies, from the large and well-established organisations to the small family-run businesses, and this means that prices will vary considerably. It’s your responsibility to shop around and compare quotes to find the insurer that works within your budget, whilst accommodating your specific needs.
PRODUCTS AND SERVICES
Compare what is offered by each of your chosen insurers and be sure to read the fine print before signing anything. You need to be aware of exclusions and what your excess will be when you make a claim. To get the best cover for your specific needs, look for an insurer that is a specialist in that area.
CUSTOMER SERVICE
Your chosen insurer needs to provide help quickly, efficiently and fairly – in your time of need. Check the type of support they provide, such as telephonic or online, and if they are easy to reach when you have a question to ask or you want to make a claim. Good customer service should be a priority.
GET HELP
Getting insurance is an important but often complicated decision, and sometimes the answer is to get expert advice. A qualified insurance professional will use their knowledge of each insurer, and after analysing your specific needs, they can help you make the right choice.
Take your time before picking an insurance company, as they need to give you peace of mind that the things you care about the most are properly protected. Look for cover based on your specific requirements and then compare prices to get value for your money. Resist the temptation to go on price alone, as you want to get the best insurance that you can afford.
For insurance advice you can trust, call Indwe Risk Services today on 0860 13 13 14 and speak to an advisor about your insurance options.