Major headaches for home insurance in South Africa

[BusinessTech]

Major headaches for home insurance in South Africa

South Africa is becoming a risky place to insure.

 

[saturnz]

not really related, but I incurred a couple of hurdles renewing the insurance on my stand alone property this year

first hurdle was the insurer wanted to increase the premium by 20%, so I instructed the broker to find alternative quotes

then they came back to say they contacted four insurers who didn't want to touch the property, because it is tenanted

so they approached the existing insurer and they dropped the increase to 10%, so thats where I am at the moment

 

[Cius]

Had a bunch of fridge/freezer claims last year due to a faulty transformer in our area. After all the claims the insurance basically hiked my excess for anything electricity related from R500 to R2000. Love how they can just change the deal anytime they feel like it.