Various types of commercial insurance are available in South Africa.
These insurances range from basic retail or manufacturing products to more sophisticated liability and indemnity products.
Again, there are generally very little regulatory requirements in terms of insurance cover, so one can operate a business without any insurance whatsoever.
One only needs to look at the recent crime statistics to realize that this will be a foolish option.
Fire and storm damage is always a concern to companies. No matter which industry they operate in. Theft is in most cases a risk to take into account, also the interruption a major loss might cause to a company cash flow. It is crucial that a proper risk assessment gets done when deciding on insurance cover. This needs to be reviewed on an annual basis, as the needs and nature of most companies change on a constant basis.
One should always make sure you comply with the insurers requirements. Read carefully through the policy schedule and policy wording, electrical compliance certificates, maintenance contracts with thatching companies (should you have a thatched roof). Non compliance with these requirements will result in repudiation of a claim.
Incompass would be able to provide you with more specific information regarding your specific risk situation as well as comparative quotations with the best insurers in the market.
Contact us if you would like to find out more about Commercial Insurance South Africa.
At Incompass Financial Services we believe that quality service starts from your very point of contact with us. To this end we endeavour to answer all enquiries and e-mails within 24 hours.
In the event your enquiry is of an urgent nature please feel free to telephone us.
“We look forward to being of assistance to you with your Commercial Insurance South Africa.”
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