1. Vehicle Cover
2. Building Cover
3. Contents Cover
4. Electronic Equipment Cover
5. Stock Cover
6. Stock in Transit Cover
7. Money Cover
8. All Risk Cover
9. Business Interruption Cover
10. Public Liability
11. Employee Dishonesty
12. Employer's Liability
Vehicle Cover
Type of cover (applicable to both personal and commercial lines)
We can break this down into 3 types of cover under this category
1. Comprehensive Cover
Accidental damage to the car as well as injury to other people and damage to their property. It also covers the vehicle against theft and hi-jacking. All financed vehicles should be covered under this option.
2. Limited Cover ( also referred to as 3rd party, fire and theft cover)
This option provides the same cover as comprehensive cover, excluding accidental damage to the clients’ own vehicle.
3. Liability to other parties only
This option provides cover against liability to other people where a vehicle accident caused death or injury to them, or damage to their property (both comprehensive and limited cover automatically include this).
What value do we use to insure the car?
1. Market Value
This is the average between the trade and retail values as stated in the Auto dealer’s guide
2. Retail Value
This is the current selling price of a similar vehicle as stated in the Auto dealer’s guide.
Should neither of the above values be available we will use a nominated value. This is normally applicable to vintage or unique vehicles. We will require a valuation certificate from a suitable source before accepting cover.
What do we mean by the term "regular driver"?
We always base the premium on the profiles of the people driving the vehicle on a regular basis. The vehicle can be covered in the following instances:
- Single regular driver
- Multiple regular drivers up to a maximum of three
- Pool vehicle which is regularly used by more than three drivers
What use do we cover your vehicle for?
1. Private use
You use the vehicle for private or social purposes only. This includes use between your home and workplace. This includes South Africa and neighbouring countries.
2. Business Use
This includes private use with additional cover where the vehicle forms an integral part of your day-to-day business activities. The cover is limited to South Africa.
What extra cover can you choose to add?
- Cover for non standard fitted accessories and sound equipment
- Use of hired car when the insured car is damaged in an accident or stolen / hijacked
- Business use in South Africa’s’ neighbouring countries
- Vehicle credit short fall cover (top up cover)
- Momentum Explorer
What do we not cover?
- Emergency services, traffic control and armed response vehicles
- Law enforcement vehicles
- Towing vehicles
- Taxis, buses and vehicles carrying fare-paying passengers
- Long-haulage transport vehicles exceeding 16 tons gross vehicle mass (GVM)
Building Cover
This cover is applicable to main buildings and outbuildings.
We will cover any permanent fixtures, fittings and improvements, such as driveways, walls, patios, swimming pools, gate motors, tennis courts and underground pipes. Dams and dam walls, loose gravel paths and coverings as well as pool cleaning equipment are excluded.
As a tenant you may be responsible for the landlords’ fixtures and fittings. You must include this in the cover under this section.
You need to inform us when the building is unoccupied for longer than 30 days or if you make alterations to the building. You must also insure that your colleagues, employees and or residents at the building comply with the policy conditions.
What additional cover can you take?
Permanent fixtures, fittings and improvements, such as driveways, walls, patios, swimming pools, gate motors, tennis courts and underground pipes are also covered.
What incidents are covered under the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Bursting of geysers and water pipes
- Theft
- Power surges
- Impact
- Accidental damage to fixed glass and pipes
- Liability to other people
- Subsidence, heave and landslip
What additional cover can you take?
- Theft
- Accidental Cover and malicious damage to fixed glass
- Wear and tear of geysers and pipes
- Subsidence, heave and landslip
- Loss of rent receivable
What do we exclude?
- Dams and dam walls
- Loose gravel paths
- Coverings
- Pool cleaning equipment
Contents Cover
This refers to the cover given to furniture and other movable possessions within the building.
What incidents are included in the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Bursting of geysers and water pipes
- Malicious damage
- Power surges
- Impact
What additional cover can you take?
- Theft
- Subsidence, heave and landslip
What will we exclude?
- Electronic equipment
- Stock
- Money
- All Risk
Electronic Equipment Cover
Covers licensed software, computers and electronic business equipment.
What incidents do we include in the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Bursting of geysers and water pipes
- Malicious damage
- Power surges
- Impact
- Items removed for servicing
What additional cover can you take?
- Theft
- Accidental damage
- Subsidence, heave and landslip
What do we exclude?
- The cost of reproducing any programmes or data
Stock Cover
This refers to insurance for raw materials, goods being manufactured or traded and other goods for which you are responsible under your stated business activity.
What incidents are included in the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Bursting of geysers and water pipes
- Malicious damage
- Power surges
- Impact
What additional cover can you take?
- Theft (the cover can be for either the full or partial value of the stock)
- Deterioration of refrigerated stock (the cover can be for either the full or partial value of the stock)
- Subsidence, heave and landslip
What do we exclude?
- Stock that is being transported. This must be covered under stock-in-transit cover.
Stock in Transit Cover
This is insurance for all stock that is being transported within South Africa.
What incidents are included in the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Collision and overturning
- Malicious damage
What additional cover can you take?
- Theft
What do we exclude?
- Money that is being transported. This must be covered under the money section
Money Cover
This refers to insurance for cash, cheques, postal, money orders, postage, revenue stamps, credit cards, vouchers and other negotiable instruments.
What incidents are included in the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Bursting of geysers and water pipes
- Theft
- Impact
What additional cover can you take?
- Money at the client’s premises after hours
- Money in transit
All Risk Cover
This refers to your possessions that you, your colleagues and employees take away from your place of business.
We will give you worldwide cover on all these items.
This cover can be in one of two categories:
1. Unspecified all risk
A variety of items that you wear or carry with you. These may vary from day to day and it would be impossible to list them each time cover is required. A maximum value is granted along with automatic cover; within this limit there is a maximum value per item.
2. Specified all risk
These refer to items valued at more than the individual maximum value per item for unspecified all risk cover. The following items must be included in the specified all risk section if cover is required:
- Cellular phones/pagers
- Portable electronic equipment such as notebooks, palmtops, printers and computer accessories
- Photographic and navigation equipment
- All other equipment to be used off-site
Business Interruption Cover
This insurance will cover financial losses that you could suffer due to an interruption to your business.
The interruption must be caused by an incident that leads to a valid claim under the Building, Contents, Stock or Electronic Equipment sections.
What financial losses can you insure against?
- Fixed expenses that are payable following an interruption to your business.
- The loss of operating profit as a result of reduced turnover following the interruption.
- Additional working expenses that you incur.
What incidents are included in the standard cover?
- Fire, explosion and earthquake
- Wind, storm, hail and other acts of nature
- Bursting of geysers and water pipes
- Malicious damage
- Impact
- Prevention of access to the building premises
What additional cover can you take?
- Subsidence, heave and landslip
What do we exclude?
- Loss or damage caused by theft
Public Liability
This is applicable to damages that you are liable to pay as a result of an incident that occurred in the course of/in connection with the business.
What incidents are included in the standard cover?
- Death, illness or bodily injury to other people
- Damage to other peoples property
- Additional legal defence costs
- Wrongful arrests
What additional cover can you take?
- Defective workmanship
- Defective products
- Internal liabilities
What do we exclude?
- Public liabilities for schools
Employee Dishonesty
Cover yourself against losses following acts of fraud/theft by your employees.
This is also known as fidelity insurance.
How do you ensure the validity of this?
- You are responsible to keep updated records of your employees’ identification and contact details.
Employer's Liability
Cover yourself against any damages that you are liable to pay to an employee following an incident that occurred in the course of or in connection with this person’s employment with the business.
This liability may arise as a result of accidental death, illness or bodily injury to any employee.
