What is Short Term Insurance

Short term insurance refers to insurance cover that includes household goods, vehicle insurance and personal liability. In South Africa this can also extend to insurance on specialist commercial and agricultural insurance and other forms of personal insurance and risk protection. Short term insurance policies are provided in accordance with the South African Short Term Insurance Act of 1988.

Household contents

Insurance of household goods is one of the most common forms short term insurance. This type of insurance protects your possessions from natural occurrences and theft. Most householders accumulate a number of items that hold both financial and sentimental value. If you lost these items and were not insured you would find you suffered a heavy financial burden. For peace of mind, household contents insurance coverage can be obtained to protect you from this financial risk should you suffer losses of your possessions.

Car insurance

Car insurance is another of the most common of all forms of short term insurance. If your car was involved in an accident or was stolen, your vehicle insurance would help you to cover the costs incurred. If you are involved in an accident, the costs can extend beyond the damage to your car. They could include damage to another person's car or property, as well as injury to the other party or yourself. Vehicle insurance protects you from paying the costs of the vehicle repair and additional costs should you be involved in an accident.

Personal liability

Personal liability insurance is cover that is available to those seeking protection from the risk of claims against them for compensation. If you or your actions cause injury to a third party and you are liable to compensate them (or their beneficiaries) for accidental death, injury or damage to their property, then personal liability insurance covers this. This can sometimes be a part of an existing policy, or if needed can be purchased separately to protect you if a liability claim is made against you.

Tailored insurance solutions

Short term insurance is not limited solely to the common types of individual insurance. It can also extend to commercial insurance, agricultural insurance, life insurance, business insurance and a number of other forms of protection. Essentially, the purchasing of an insurance policy provides peace of mind for the policy holder and protection from the risk of financial loss if an unexpected situation arises.

Short term insurance is available for anybody that seeks to have peace of mind and complete protection from a number of unforeseen circumstances and problems that may arise. Depending upon your individual needs, insurance can be tailored to fit your requirements across a broad range of areas. If you are seeking risk protection, carefully weigh up precisely what you need and then you will be in a position to seek out the appropriate policies to provide any necessary cover. Short term insurance can protect you should you be legally liable for damages caused by you or your property.