By: Alberto Gutierrez, Head of Actuarial & Acting CTO at iWYZE

Check your insurance before the holiday rush

Black Friday and Cyber Monday have come and almost gone, kicking off the wild dash toward the end-of-year holidays. As you gear up for big purchases and big trips, iWYZE, one of South Africa’s leading insurers, has a simple message: don't forget your insurance.

It’s easy to get swept up in the thrill of a Black Friday deal. That new TV, laptop, or appliance is a major win! But here’s the rub: all those high-value purchases immediately increase the total value of your household contents.

Alberto Gutierrez, Head of Actuarial & Acting CTO at iWYZE, urges shoppers to think ahead. “The deals are fantastic, but the joy of that new gadget can quickly vanish if it isn’t sufficiently covered. Make sure you take the necessary precautions to insure your goods properly.”

iWYZE recommends taking these quick, essential steps to ensure peace of mind:

1. New Purchase Alert: Cover Your Household Contents Immediately

After Black Friday, contact your insurer right away to list all your new, high-value electronics and appliances under your household contents insurance. Update your policy immediately to include any significant purchases. Make sure they’re covered for their full replacement value from the minute they’re through your front door. Don’t wait until it’s too late!

2. On-the-Go Cover: Secure Your Portable Possessions

Ensure your portable possessions cover is up to date and sufficient for the valuable items you carry with you, such as phones, laptops, jewellery, and other gadgets. Double-check that they’re insured for their correct, current value. This ensures you’re covered every day and gives you extra peace of mind when you go on holiday.

3. Car Check: Prepare for the Holiday Road Chaos

Get your car's tyres, lights, and fluids checked. Ensure you have comprehensive car insurance with built-in Roadside Assistance in case you break down mid-trip. Securing your car is critical, as the festive season brings increased risks related to travel.

4. Digital Silence: Secure Your Unoccupied Home

Test your home alarm system, inform a trusted neighbour you'll be gone, and avoid posting holiday details on social media until you are safely back home. Houses are often empty for weeks, which is a prime time for opportunistic criminals to strike.

• Critical Policy Detail: Some insurance policies have a limit on how long your home can be unoccupied, typically between 30 to 60 days. If you're going to be gone longer than that, you absolutely must tell your insurer. If you don't, you could jeopardise your claim.
  

"Insurance is all about peace of mind. Take a quick minute now to adjust your cover, and you can fully enjoy the excitement of shopping, the spirit of the holidays, and the joy of your new belongings, knowing you’ve made the smart choice,” Gutierrez concludes.

The information presented herein is for informational purposes only and does not constitute financial advice. iWYZE is underwritten by Old Mutual Insure Limited, a licensed FSP and Non-life Insurer.