Africa Melane chats to CBI-electric Engineering Executive Dr Andrew Dickson about how to insure your home and other assets.
Dr Dickson highlights that with drastically changing times, insurance companies have also had to change how they do things.
With the experience of the heavy rainfalls in KwaZulu-Natal insurance companies are being batted so loadshedding is just another one and they are saying, hang on, we can’t cover it all.
Dr Andrew Dickson, Engineering Executive – CBI-electric
Africa Melane notes that loadshedding began in 2008 and unfortunately it seems will be around for a long time to come.
You would think that insurance companies have now factored this into their formula in working out what their proper cover is for us.
Africa Melane, Presenter – 702 Early Breakfast Show
Remember In 2008 it was a couple of stages and it was very brief and intermitted. So the insurance companies really didn’t have the data to work with.
Dr Andrew Dickson, Engineering Executive – CBI-electric
The increased intensity and frequency of loadshedding periods have placed people’s appliances at a greater risk of being permanently crippled, adds Dickson.
Clients should make sure that at every annual insurance update, they specify their insurance covers every aspect including the possible effects of loadshedding.
Always read the fine print in the newly updated insurance policies he emphasises.
At this point and time most insurance policies will be coming through so just say you need insurance type 2+ and that it is in your distribution board.
Dr Andrew Dickson, Engineering Executive – CBI-electric
This, he says, will help people to be able to also cover their equipment at home.
Be proactive. Get insured and get your CRC (Crop Revenue Coverage) updated and get that back to your insurer so that they can see that you are covered.
Dr Andrew Dickson, Engineering Executive – CBI-electric
Scroll up to the audio to listen to the full interview.
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