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Statistics indicate that an enormous number of South Africans are underinsured. This is often the result of consumers being uninformed in terms of replacement values and therefore being caught unawares when needing to make a claim resulting in a dispute between clients and their Insurers.

When consumers make the decision to insure their household contents, many do so without considering how much it will cost them to replace their asset. Consumers often argue that only certain items would be stolen and never entire household contents but often forget that Insurance companies calculate losses on an average clause.


For example, household contents insured for R150 000 but the correct value is R 300 000.

 

Sum insured

R150 000

 

Replacement value

R300 000

 

Claim amount

R50 000

 

Underinsured

50%

Sum insured divided by replacement value times 100

 

Final payout

 

R25 000

(Claim amount minus underinsured percentage )

 

 

This has left many consumers with less than what they had before and often resulting in claim to be referred to the Insurance ombudsman.Causing frustration and unhappiness.

Allsure now offers a service to Insurance companies and private individuals where we would do a full inventory of your household contents. This Inventory will include photos and current costing on your belongings. Saving you time to compile prices and lists Furthermore this will insure that you as a client has a true reflection on your valuables and will assist that you will be correctly insured with your insurance company.

 

Contact Allsure today for a quote on a full inventory