Installing a vehicle tracking device is crucial for South African car owners. With rising carjackings and thefts, Marius Kemp Head of Personal Lines Insurance at Santam, explains how tracking devices offer benefits like reduced insurance premiums, faster recoveries, and added safety features.

Funeral cover is the largest insurance segment in South Africa but despite the average South African owning up to four policies, most families are still under-insured and end up taking up expensive loans or credit card debts to cover a loved one’s funeral expense.

As winter sets across South Africa, longer nights and earlier sunsets create prime conditions for increased criminal activity. Residents are urged to stay vigilant, particularly near residential areas, shopping malls, and fuel stations, as darkness and cold weather provide cover for criminals.

South Africans are notoriously poor savers, with less than 30% having an emergency fund. For young people, lacking financial backup can be particularly risky. Marius Kemp from Santam emphasizes the importance of insurance for financial protection and peace of mind.

The knock-on effects of climate-related incidents have led to a noticeable increase in personal and commercial insurance claims, both in terms of property damage and business interruption. This has been exacerbated by the impact of deteriorating infrastructure such as public roads, water and sanitation systems.

Siyakha Masiye, spokesperson at MiWay Insurance, explains that insurance needs change over time with lifestyle shifts. Market developments and inflation can also impact the value of assets, meaning insurance coverage must be adjusted accordingly.