03 Jul What Does Short-Term Insurance Cover? A Detailed Breakdown
Living life to its fullest potential includes being prepared for anything. Life can throw curveballs, and while we’re all for embracing each day with optimism, it is just as important to have things in place for the “what-ifs.” That is where insurance steps in — helping you stay ready, come what may. Here are the basics on short-term insurance: a comprehensive guide. What does short-term insurance cover? Our detailed breakdown provides you with all you need to know. These are the main categories covered:
Vehicle Insurance
Driving a car without insurance is like walking a tightrope without a safety net. Of course, you expect everything to go smoothly, and usually it does, but one slip could cost you everything if you are not prepared. Apart from owning property, your car is probably the most significant financial investment you could make. Short-term insurance can save you thousands and protect you from exponential financial loss.
Comprehensive insurance is the best type of vehicle insurance available. It covers theft, hijacking, accidental damage, natural disasters, fire, and third-party claims. Third-party, fire and theft is good value for money, covering any damages you cause to others in an accident, as well as theft and fire. You could also get cover for third-party only.
Homeowners’ Insurance/Building Insurance
Your home should be your happy place, treasured and kept safe. Homeowners’ insurance covers the physical structure of your home against a multitude of unexpected events, like fire, storms, burst pipes, and even break-ins and vandalism. It is there to help restore balance to your life when the unexpected comes your way.
Note that this type of short-term insurance only covers the structure of your home, not what’s inside. For things like furniture, appliances, and personal belongings, you’ll need Household Contents Insurance.
Household Contents Insurance
Some of your most valuable items belong inside your house, and losing them to theft or damage can be difficult to comprehend. With Household Contents Insurance in place, you can afford to replace these precious items, which is a tremendous relief and saves you from potentially having to take out loans or replace these essentials on credit. If you are new to insurance, here is what you should know about the Short-Term Insurance Act.
All-Risk/Portable Possessions Insurance
This insurance covers the items you carry with you on the go. This type of insurance will provide cover for specified items, usually of a high value. Unfortunately, high-cost items are often considered high-risk items, which is why having them insured is a smart move. Some items to consider insuring under this category include cell phones, laptops, jewellery, watches, cameras, and expensive sun glasses and handbags.
Business Insurance
If you’re running a small business or making an additional income, it is worth considering Business Insurance. Your income or the money you make through a side hustle is well worth protecting. Insurance can cover your business premises, office equipment or stock, the vehicles you might use for work, legal costs you might face, and possibly even loss of income.
Health Insurance
You’re health and the health of your family should always be high up on your priority list. Health insurance assists in covering medical expenses in the event of illness or injury, which can happen at any time. It ensures that you can access the healthcare and medicine you need without facing overwhelming costs. Healthcare is notoriously expensive, and health insurance can make a big difference when it comes to affording quality care.
Travel Insurance
The last thing on your mind when you’re enjoying a holiday trip is something going wrong — but travel insurance is there just in case. Embark on your adventure with peace of mind that you have cover for emergencies. From flight cancellations to medical emergencies, travel insurance should be an important part of planning your getaway.
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With our help, you can save 20% or more on short-term insurance today. We are here to guide you on the best types of insurance, giving you a backup plan for anything that could go wrong.
Contact us today to get started.