Insurance is commonly viewed as a ‘grudge purchase’… Because a lot of what we buy to live our best lives is expensive, and difficult to repair or replace out of our own pockets, we feel as though we have to have it… But we don’t really want to buy it, do we? Honestly, though, for that very reason, insurance should be a way of life! It should be something that we automatically purchase when we buy a house, laptop, car, phone, or start and invest in a business.
No matter how you feel about insurance, most of us know, deep down, how satisfying the peace of mind is. Especially when we’re driving through a golf ball-sized hail storm that can’t be avoided. It just feels so good to know that our insurer will pay for the damage.
The alternative is a world without cover. Here’s a quick peek into what the world would look like if there was no insurance, no peace of mind, and no financial cushioning.
No insurance in your home
So you got your own digs… Congrats! It’s your own space to create, decorate, and relax in. And of course, it’s all your responsibility. You’re not just in charge of the scatter cushions, you’re also in charge of changing the lightbulbs, mowing the lawn, and fixing the burst geyser.
Any homeowner will tell you that anything can happen, at any time. One minute, you’re relaxing on a chilled Sunday morning and the next thing you know, there’s an ominous dripping from the bedroom, which then quickly turns into the gushing sound of your geyser, turning your house into an indoor pool.
Without insurance, you’ll have to repair or replace your geyser, carpets, wooden flooring, furniture, and electrical wiring out of your own pocket. The geyser alone could (on a special) cost you around R3,500… Never mind what everything else will cost! You’ll probably have to say cheers to those holiday savings.
No insurance on the road
This one isn’t so hard to imagine, because the drivers the drivers without insurance in South Africa outnumber those who do have cover. Sadly, we’re all probably familiar with a reality where most people are personally responsible for fixing their broken property or paying for the damage of others. It’s super stressful, actually, because the uninsured party might be motivated to blame you for the accident (so that your insurer won’t come after them) or they might give out incorrect details (for the very same reason).
Now, if we’re talking about a world where there’s no insurance at all, then the stress is doubled because no one wants to take on the thousands of Rands-worth of debt that’s associated with accidents and theft.
Even if you’re cruising around in an entry-level model, you’re probably going to get quite a fright when you have to get a panel straightened out.
The answer is to find a reputable insurer
At the end of the day, insurance is there to help you, should you suffer a significant financial loss. It’s not intended to bankrupt you, so you really don’t have to be rolling in some serious money to afford cover. If you get car and home insurance from an insurer who offers competitive premiums and has a strong reputation for paying out claims, then it’s worth the expense.
For instance, King Price offers several car and home insurance packages, is well-known for paying out claims, and is frequently cited as having 1 of the lowest rejection rates around!
Ultimately, the peace of mind completely removes any grudgy-type feelings and there’s the added benefit of not being caught in a financial bind when your precious wheels or geyser decides to give up on life. If that sounds good, click here for an affordable, commitment free car and household insurance quote!