Paying for insurance, and I mean any kind of insurance, be it your home or car insurance seems like a waste of money. Well, until you actually need the cover. Insurance is very tricky; I have seen people who have survived without car insurance for years and have never been involved in any accident. I have also seen friends who cancel their insurance today, and a month later crash into a tree.

    Listen, it is always too heart-breaking to see a neighbour lose all their household valuables in a break-in, and they now must tap into their savings to purchase new household electronics. As I said, insurance seems like a useless, unnecessary expense until you need it. There are two kinds of people, us, the ones who will spend years paying for insurance and not claim a single dime, and the other ones, who refuse to pay for insurance and will pray for a miracle should an accident occur.

    The bottom line is insurance was designed to protect you and your family from any form of financial difficulty in times of loss or damage. It allows you to recover from loss instead of worrying about it while giving you the peace of mind that you are financially covered should something bad happen. There are many reasons one would take up insurance and these include incidents such as:

    • Loss of household income
    • Property or vehicle loss due to fire, theft, or damage
    • Illness or an accident, rendering you unfit to work
    • Death
    • Risk of overwhelming debt that you are not able to pay

    Top insurance companies in South Africa

    Here’s a list of insurance companies you should consider, depending on the kind of cover you are looking for:

    1. King Price

    King Price offers a range of insurance types. These include car and motorbike insurance, building insurance, and portable insurance, including trailer and caravan insurance just to name a few. Their most exciting product would be their R1 insurance, where they claim to cover some of your small valuables for just R1.

    1. Sanlam

    If you are looking for life insurance, disability cover, critical illness cover, income protection, funeral cover, or medical gap cover, Sanlam is your next best option. They offer comprehensive cover for unpredicted incidents and allow you to enjoy peace of mind when your health and finances are secured at one of South Africa’s best insurance companies.

    1. 1stFor Women

    1st for Women offers a range of comprehensive insurance such as car, home, and business insurance. In 2017, they were recognised by Ask Afrika Orange Index Awards as the winner of Service Excellence in the Short-term Insurance industry. Their aim has always been to put women first by offering services like Guardian Angel on Call and Handbag Cover, all with South African women in mind.

    1. Old Mutual

    Through their products, Old Mutual believes in making your financial journey a smooth one. They have a range of insurance types that include but are not limited to short-term insurance, life and disability cover, travel insurance, funeral cover, and so much more. Old Mutual has over 160 years of knowledge and experience within the insurance industry and with their expertise, you are guaranteed the best cover.

    1. OUTsurance

    If you are looking for car and motorcycle insurance, contents, and buildings, life insurance, funeral cover, business, or pet insurance, OUTsurance has a team of dedicated professionals to assist you. Their aim has always been to remain above their competition, and they strive to offer new and innovative ways for their clients to receive the best insurance cover.

    1. Budget Insurance

    Budget Insurance offers plans that cover all aspects of your business, including vehicle insurance, life, and household insurance.

    1. MiWay

    MiWay offers a range of insurance packages including comprehensive car cover, home and building insurance, as well as business insurance. They reward people for doing things online and they promise to pay you an average full month’s premium after 3 months full premiums are received if you take out an insurance policy online.

    1. Affinity Health

    If you are looking for simple medical insurance that provides cover to the few that cannot afford to pay for hefty medical aid fees, then get in touch with Affinity Health. The purpose is to make affordable healthcare available to all South Africans, with plans designed to suit every individual’s health and financial needs.

    1. Discovery

    Discovery offers car, home, and life insurance. Through their plans, they have continued to outsmart their competitors and are seen as one of the best insurers in South Africa. They have different packages for different budgets and needs and their shared-value insurance model delivers better health and value for clients, superior actuarial dynamics for the insurer, and a healthier society.

    1. Liberty

    Liberty offers a range of insurance plans that include critical illness, disability cover, funeral cover, income protection, life protection, and medical cover. Liberty provides a comprehensive range of solutions that not only focus on the financial, but the physical and emotional well-being of their clients

     I know insurance can be expensive, but should something happen, and you are not covered, the financial burden might be 10 folds worse. I hope this article helps with choosing a cover that meets your needs. If you have insurance, good for you! But, if you do not, it is time for you to be proactive, do research, and select a cover that meets your needs.



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