Are you sure you should be wearing that new watch if you haven’t yet read this?

Have you given your insurance policy an annual check-up? It’s time: Give your insurance policy that essential annual check-up


The holidays were good to you and you have a new watch, laptop, bike or handbag to show for it. But, now that the novelty of your December gifts has worn off, it’s time to remind you that you need to update your insurance policy to ensure that you are properly covered.


Even if you didn’t make any purchases or receive any gifts, if you decided to do a spot of spring cleaning during the holiday and threw away or donated items you no longer want or need, your policy must be updated.


While you are reviewing your policy, you must also take into consideration the replacement value of those insured items that have been produced or imported from a foreign country. With currency fluctuations and inflation, you could end up spending significantly more to replace the item – in the event of loss or damage – or it may have depreciated in value, with the result being that it’s over-insured.


With the value of items constantly increasing and decreasing, it’s key that you regularly check your policies and ensure that any changes to the value of your assets is reflected. It is advisable to keep the receipts of your purchases, whether you’ve bought something in South Africa or overseas, so that if you need to claim, you have proof of payment and the item’s original value.


Of course it’s not just purchases, your annual insurance policy check-up must also cover any home renovations, whether it’s a new kitchen, a remodelled bathroom or increased security. Your insurance advisor must be kept abreast of any changes made to your home, to establish if your existing policy covers any potential claims.


As your life and needs constantly shift, it’s an important practice to regularly conduct an insurance check-up. It is equally key to habitually speak to your advisor, informing them of any significant changes to your lifestyle or assets. They can then accurately assess your policies, ensure that you are not over or underinsured, and adjust your cover if necessary.


For trusted advice and assistance that you can rely on, speak to your Indwe advisor today. Phone 0860 13 13 14 or visit


Indwe is an authorised Financial Services Provider. FSP: 3425


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