Need to Knows about your Short-Term Insurance that you May not be Aware of.

Typically, when it comes to insurance, people tend to pay their monthly premiums without a second thought or reviewing the details of their cover. However, when it comes to having the right cover, it does pay to read the fine print. There are numerous reasons why you should always check your insurance policy, but one of the major ones is that you will have more information regarding what you are and are not covered for. This is why we’ve decided to provide a few insights into short-term insurance cover that some might find surprising.

1. Your car’s “takkies”. By takkies we mean your car’s tyres, and more specifically, their tread. Granted, car accidents, minor bumper bashes or collisions occur every now and then. However, did you know that if you are involved in a car accident and follow-up investigations reveal that the tread on your car is less than the legal limit, your insurance company has grounds t reject the claim? Worn tyres pose a significant threat for you, other drivers, passengers and pedestrians. It is, therefore, vital to keep an eye on the state of your tyres, whether you are nipping down to the shop or going on a road trip.

2. Check your driver’s license code. Individuals who have an ordinary driver’s license (code B) may not know that they can only tow a trailer with a total mass of less than 750kg. An EB license code is required for anything larger, such as a caravan. To tow a trailer that exceeds this 750km limit, you will need an entirely different license code (EC1 and EC). If you are in an accident and you are found to be in contravention of these regulations, the insurance company has grounds to reject your claim.

3. Check if your insurance covers lost keys. We have all been there. There is nothing worse than misplacing or losing your car keys, and the reality is that some sets of car keys cost a pretty penny. This is why it is essential to ensure that you have a spare set in a safe place and to double-check if your insurance company covers the cost of replacing your keys.

4. Smartwatches. Are they an accessory or communication device? While smartwatches resemble conventional, everyday watches, it is important to be aware that most insurance companies consider them to be a communication device. They, therefore, need to be specified as a communication device rather than categorised under personal clothing and effects.

Having an independent financial advisor (IFA) who is not only knowledgeable about the fine print but who can also shop around helps ensure that you receive the proper advice and cover. Contact a PBA IFA and give yourself peace of mind.

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