With more than a million visitors expected in South Africa during the 2010 FIFA World Cup, entrepreneurial citizens with an eye for a business opportunity are considering the implications of this influx.
These visitors will need accommodation and transport, and you may have the perfect home and car for them to use. Before undertaking such a venture, make sure to check your insurance policy.
This is the advice of Angelo Haggiyannes, director of Auto & General Insurance.
"A serious risk faced by homeowner's is that your guest is injured while on your property. Liability Cover, which is included with Home Contents Insurance, protects you if any person other than you or a member of your family who lives with you, or someone who works for you, is injured or dies accidentally. That said, make sure to check your policy book and schedule to ensure that you are adequately protected," says Haggiyannes.
Haggiyannes points out that if your tenants steal something from your home, you will not be covered, however, if there are noticeable signs of forced entry, you will be covered for theft.
"The safest option is for guests to have their own insurance cover in place for personal or portable possessions, for example, clothing, luggage, cameras and other valuables," says Haggiyannes.
If you plan to lend your car to a foreign guest you will be covered if the driver has a valid licence in the country in which it was issued, or an international driving permit (foreign drivers need the latter if they are visiting South Africa for more than three consecutive months).
If the visitor stays for a shorter time period, his/her driver's licence must be printed in English (a translated copy certified by the driver's embassy/consulate in English will be accepted); and his/her photo must appear on the licence.
"You may offer the exclusive use of your car to guests during the 2010 FIFA World Cup, but the guest driver will have to be specified as the regular driver of your car on your insurance policy, for the period the person is using it" says Haggiyannes.
"Being aware of the insurance risks when offering such services will ensure that fans will have a hassle-free 2010 FIFA World Cup experience. Make the most of this once-in-a-lifetime opportunity and give our visitors some great memories to take home with them" concludes Haggiyannes.
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