Insurance in simple terms is an arrangement by which a company or the government undertakes to provide a guarantee of compensation for specified loss, damage, illness, or even death in return for payment of a specified amount (premium).
The main aim for any insurance is to cover you as long as in return you pay your monthly premium. Insurance payout are made at an event where the cover is required.
Types of Insurance Covers in South Africa
There are different types of insurance, they cover you for almost every possible situation in life that may need financial assistance.
- Appliance and Mobile Insurance
- Car and Vehicle Insurance
- Accident and Health Insurance
- Unemployment Insurance
- Home Insurance
- Travel Insurance
- Life Insurance
- Pet Insurance
- Dental Insurance
Commercial Insurance in South Africa
If you operate a business or starting a business, it is crucially important you take insurance for your business. Some businesses it is a requirement to have insurance; business like logistics, it is required to have Goods In Transit (GIT) insurance in order to be able to tranport goods.
We have listed below types of business insurance:
- Liability Insurance
- Goods In Transit (GIT) Insurance
- Property Insurance
- Business Interruption Insurance
Insurance Companies in South Africa
There are over 170 insurance companies in South Africa. We have list below some of the insurance companies accredited by South African Insurance Association.
- Abacus Insurance Limited
- ABSA Insurance Company Limited
- Africa Reinsurance Corporation
- Auto & General
- Bidvest Insurance Company Limited
- Bryte Insurance Company Limited
- Budget Insurance Company
- CFAO Motors Insurance Limited
- Chubb Insurance
- Coface South Africa Insurance Company Limited
- Compas Insurance Company
- Constancia Insurance Company
- Dialdirect Insurance Company Limited
- Discovery Insure Limited
- Dotsure Limited
- Escap Soc Limited (Eskom)
- Federated Employer’s Mutual Assurance Company
- First for Women Insurance Company Limited
- FirstRand Short Term Insurance Limited
- GaurdRisk Insurance Company Limited
- Hannover Reinsurance Africa Limited
- Hollard Insurance Company Limited
- Infiniti Insurance Limited
- King Price Insurance Company Limited
- Landbank Insurance Company Limited
- Legal Expenses Insurance SA Ltd
- Lombard Insurance Company Limited
- Miway Insurance Limited
- Momentum Insure Company Limited
- Nedgroup Insurance Company Limited
- New National Assurance Company Limited
- Old Mutual Insure
- Outsurance Insurance Company Limited
- PPS Short-Term Insurance Company Limited
- Renasa Insurance Company Limited
- Safire Insurance Company Limited
- Santam Limited
- Santam Structured Insurance Limited
- Sasria Soc Ltd
- Workerslife Insurance Ltd
- Yardrisk Insurance Limited
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