July 3, 2017

In tough economic climates – such as the recession South Africa finds itself in at the moment – households and small business owners may be tempted to reduce their short-term insurance, but the short-term savings may not justify the long-term cost of recovery in the event of a natural disaster. Roy Wright, Head – Risk Solutions at leading financial advisory and wealth management business GTC, says consumers need to ensure they know exactly what their insurance policies provide cover for, especially considering the possible effects of floods or fire. The recent storms in Cape Town and the devastating fires along the Garden Route, particularly in Knysna, are tragic reminders of the ongoing need for inclusive cover. “Most modern insurance policies offer comprehensive cover, which protect against many eventualities, from theft or damage to natural disasters, such as floods and fire.... Read More