Insurers are some of the most profitable companies in any country. Limiting risk and protecting their margins by repudiating claims comes with the territory. We all know of someone whose are claims repudiated or adjusted based on some minor infraction. you are over/under insured. It wasn’t declared or itemised, it is not covered under clause so and so.
Irritating when they are the experts in insurance but happily pass the buck in the small print onto many a unsuspecting and unknowledgeable customer.
They are more than happy to take your premiums but not so happy to pay out when the time comes. Many a repudiated claim has been paid out after media involvement and bad press. The ombudsman for insurance does not get much sleep.
Let us exclude the dodgy crowd who claim for many items not stolen/broken during a robbery or house invasion.
So when an insurer recommends that customers take a serious look at alternative power sources like gas and renewables, there is most definitely a selfish reason to do so. The claims related to load shedding and power surges have increased a great deal since the inception of load shedding. Santam are predicting 61 days of load shedding between April and August. That is in a 5 month period.
this of course opens the door to standard operation procedure of ‘we told you so’ so sorry! Claim repudiated. That aside we have really reached the point of no return. Relative to the cost of Eskom, renewables have become a lot cheaper. The initial capital outlay can be prohibitive but given the number of finance options available on these systems, they are very easily affordable and practical.
Your next exclusion will be along the lines of ‘not paying out again for power surges’ check your T’s & C’s then call us for an estimate
https://businesstech.co.za/news/energy/572224/south-africas-biggest-insurer-warns-of-load-shedding-every-three-days-and-says-it-might-be-time-for-a-switch/?utm_source=newsletter