Short Term Insurance

Glass Insurance

by Lawrence

Why on earth would anyone want to insure glass? If that question just popped into your mind don’t feel bad…judging from the number of enquiries (currently zero) we receive about glass insurance, it’s not top of mind with most business owners! But for certain business owners glass insurance is a must… So who should be looking at this type of cover? If you own any type of retail business such as: a supermarket, a café, a restaurant, an optometrist a hairdresser, or a jewellery store …then just maybe you need to rethink your strategy! In fact, right now, stop what you’re doing and step outside of your business. Take a look at it with a fresh set of eyes. Do you see what I see? How many large glass pane windows do you have facing the street…or what about that set of fancy glass sliding doors you open and close every day? Maybe you’ve had expensive signwriting done on the glass? And what about your shop counters, showcases, signs and mirrors? Now imagine for a moment the cost of having to replace all that glass? And the cost of having all that signwriting redone? Spare a thought for it happening ...

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Tagged as: Commercial Insurance, Short Term Insurance

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Money Insurance

by Lawrence

As I begin typing this post, the refrains of “Money too tight to mention” (The band – ‘Simply Red’. The year – way too long ago!) come wafting into my brain. How does the song go again? …”We’re talking about money, money!” And while it’s OK to blow money (well sometimes it is!) on totally unnecessary purchases, it’s a whole different ballgame when someone steals it before you get to blowing it! OK, enough of my nonsense…let’s get on with it! And to confuse the matter I thought we’d start off with the bad news for a change… So what risks are not covered when it comes to money insurance? Right now, if you’re a shop owner reading this, you might be rubbing your hands in glee at the prospect of eventually being able to claim for all those till shorts. And let’s be honest…if you work in a cash environment there’s always going to be shortages, right? The first bit of bad news is that shortages are not covered. Dishonesty of employees is also not covered unless…you discover it within a specified time period (Usually 14 days is allowed for this but please check your schedule). A further risk ...

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Tagged as: Commercial Insurance, Short Term Insurance

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Commercial Insurance Quote

by Lawrence

Please click on the biographical information heading below in order to open up the capture form. This is the nastiest section of the capture form but contains question vital to underwriting your unique risk profile! If insufficient information is provided the insurer will simply quote the highest premium which is not in your best interests. IMPORTANT… The biographical information is the only compulsory page requiring completion while the remaining sections are dependent upon your specific insurance need. All compulsory fields are indicated with an asterisk! Once you have reached the bottom of the biographical section simply click on the section relevant to your insurance need. If you are uncertain as to what type of insurance you need simply click on the relevant heading (such as fire section) and then read the brief description appearing at the top. If the section is not relevant to you simply click on the heading once more in order to close that section (or scroll down to the bottom of that section and click on the next heading). PS: If you have an up to date copy of your existing insurance schedule please forward it to us either by email to info at insurancefundi.co.za or ...

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Tagged as: Business Insurance, Commercial Insurance, Short Term Insurance

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Business Interruption Insurance

by Lawrence

If you’re involved in any type of business with fixed monthly overheads…then business interruption insurance should grab your attention. The show must go on… Never before have the lyrics of Queen (the rock music group) had so much meaning! Imagine for a moment owning a large industrial concern with 120 staff. One day a fire breaks out at your premises and the entire factory is razed to the ground. Suddenly you’re sitting with: A massive salary bill, Vehicle payments that need to be made, Water and electricity accounts that need to be paid (never mind your Telkom telephone bill) …and no money coming in with which to pay them all! So what would you do? Dismiss all your staff and declare bankruptcy? Well, if you’re a forward thinking business owner you would have made certain that you had business interruption – also known as ‘loss of profits‘ or ‘consequential loss ‘ – cover in place. The purpose of business interruption cover is simple…it provides indemnity against: Fixed costs – those expenses that continue regardless of your loss of turnover. Also known as ‘standing charges’. Net profit – The net profit that would have been earned had the business not been ...

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Tagged as: Business Insurance, Commercial Insurance, Short Term Insurance

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Office Contents Insurance

by Lawrence

So, maybe your business is service based which means you only have offices…or maybe you own a factory with adjacent offices for your accounting and sales staff? And what if you’re an attorney or accountant with trust or mortgage deeds in your possession? Whatever your situation you need office contents insurance! What am I insured for under the office contents section? The office contents section provides indemnity against five different risks. The risks in question are: Loss or damage to contents caused by one of the insured perils Rent payable by you as tenant while the premises are uninhabitable as a result of one of the insured perils. This is limited to 25% of the sum insured. Loss or damage to documents kept at the office (Important for attorneys!) by one of the insured perils. This is limited to the cost of restoring or replacing these documents. Legal liability you might face as a result of loss or damage to important documents in your possession at the time of the loss The increased cost of working in order to maintain the normal operation of the business after loss or damage to the contents by one of the insured perils. This is ...

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Tagged as: Business Insurance, Commercial Insurance, Short Term Insurance

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Buildings Combined Insurance

by Lawrence

In my previous post we discussed Fire Insurance or as it is commonly known – Property Insurance. If you can recall we mentioned that under the fire section you can insure:  Your buildings Your machinery And your stock in trade So why would you need buildings combined insurance? The truth is that you wouldn’t normally. However, if you make your living as a landlord, then ‘buildings combined’ is an ideal way to insure your building and the various risks you face. So what are the benefits for a landlord? There are three main areas of risk which are provided for with this type of insurance. Damage to buildings, outbuildings fixtures and fittings walls, gates, and fences paved or tarred roads and driveways parking areas sports or recreational structures Loss of rent as a result of the property being so damaged by one of the perils mentioned below that the premises becomes untenantable. Loss of rent is limited to 25% of the sum insured. In other words, if your building is insured for R1, 000, 000 (and that the replacement value is also R1, 000, 000!…Don’t say I didn’t warn you about ‘averaging‘) then your cover under this section is limited to R250, 000! ...

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Tagged as: Business Insurance, Commercial Insurance, Short Term Insurance

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