Wynand Van Vuuren, client experience partner at King Price Insurance

So, you’re finally flying solo. Whether you’re buying a car, moving into your own apartment, or starting that dream job, welcome to the world of doing your own laundry, debit orders, and… Insurance.

Wynand van Vuuren, client experience partner at King Price Insurance, puts it like this: “Insurance isn’t just for ‘old people’. If you own anything of value – a car, a laptop, that all-important washing machine – and you wouldn’t be able to replace it tomorrow if disaster struck, then you need to cover it. It’s not about expecting bad things to happen. It’s about being ready when they do.”

Van Vuuren breaks down the insurance you need (and why):

Car insurance: You need to protect your car, and yourself, and there are many options to choose from. At the top end of the scale, comprehensive cover protects you against theft, hi-jacking, accidents, hail, and just about everything else. It’s essential if you’ve financed your car.

At the other end of the scale, third party only cover doesn’t cover accidental damage to your car, but it does cover damage you accidentally cause to someone else’s stuff. In the insurance world this is known as third party liability, and it’s so important that all car cover options include it.

Buildings insurance: This one’s critical if you’ve bought your own property. It covers the actual structures – walls, roof, geyser, and more – against damage from things like fires, storms, or burst pipes. If you rent, or you buy in a complex, it’s possible that the landlord or complex will take on this insurance responsibility. But always double-check, because assumptions and risks don’t mix well.

Home contents and portable possessions insurance: It doesn’t matter whether you rent or buy the building you live in, or who insures it, you’re responsible for covering your stuff.

• Home contents insurance covers the things in your home, like your clothes, couch, gaming console, and that coffee machine you love more than most people.
• Portable possessions insurance covers what leaves the property when you do… All the things that could get lost, stolen, or accidentally smashed when you’re out there living your best life.

Bear in mind that you can’t insure your home contents if you live in a commune or similar, and you can’t just insure your portable possessions if you don’t have car or buildings insurance.

Business insurance: If you’re an entrepreneur operating out of your home, your business assets and liability should be covered too. One small accident could mean a big financial loss, and you’re only covered under business insurance.

Tips for making wise insurance decisions include:

Understanding excess: This is the first amount you pay when you claim. Choosing a higher excess may mean a lower monthly premium, but you’ll need to be able to pay the excess amount when you claim.

Checking for exclusions: Not everything is automatically covered. Read the fine print.

Comparing all the details: Get quotes from different insurers; check what is and isn’t covered; and read reviews. Remember, cheap doesn’t always mean cheerful.

There’s also an onus on you to be honest. Everything you’re asked during a quote should be answered fully and correctly. If not, you risk claims not being paid, or losing your cover completely.

“Being independent means taking responsibility for your stuff, your space, and your life. Insurance is what helps keep things together when life tries to pull them apart,” says Van Vuuren.

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