Is your short-term insurance cover adequate and up to date?
Short-term insurance is for a time when you need protection against the financial risks that you have with your possessions (your things). Essentially, a short-term insurance policy is an agreement between a policyholder and an insurer that is in place for a limited time. Your insurance needs for these possessions will change over time, too. The policy can be flexible to provide enough cover for different circumstances.
There are two types of cover namely personal line and commercial lines.
Personal lines focus on vehicles, house structure, household content, personal liability cover which protects you against any liabilities (legal responsibilities), like a lawsuit) after an accident you are considered responsible for. All risk cover can include personal possessions that could be stolen or damaged when you have them with you outside your home. These possessions can include jewellery, cell phones, laptops, tablets, or cameras.
We often see that clients’ household content is underinsured which leads to a reduction in claim. We also include car rental for two months because of the time it takes to secure parts and do the repairs.
Commercial lines insurance is a type of insurance that protects businesses from potential losses that they cannot afford to cover. It allows companies to operate when it might otherwise be too risky. Commercial lines insurance is different from personal lines insurance, which protects an individual.
Speak to us if you would like to review your short-term insurance.