Guiding consumers since 2009

Claiming for protest damage

By Jessica Anne Wood

Following the most recent spate of protests at universities around the country, Justmoney looked into the application of Sasria on the relevant insurance claims lodged by the universities.

Thokozile Ntshiqa, executive manager of stakeholder management at Sasria, explained: “Sasria has a unique business model, since we do not sell Sasria’s products directly to the end-customers. We enter into agreements with other short-term insurance companies who then sell our products to the end-customer. The insurance companies also handle the day-to-day administration of the business and collect premiums on Sasria’s behalf. Therefore once the client has a Sasria related claim, they can submit the claim to the broker or insurance company that issued their policy, who will then collect all required documents and then submit the claim to Sasria.”

The Sasria website further clarifies the type of insurance cover it offers. “Sasria is a state-owned company and the only short-term insurer that provides cover to all the people and businesses that have assets in South Africa, as well as to government entities, against special risks such as civil commotion, public disorder, strikes, riots and terrorism. South Africa is one of the few countries in the world where anyone is able to buy extremely affordable insurance to protect their assets against these kinds of special, and potentially catastrophic, risks.”

As of yet, Sasria has not received any claims for damages from the most recent student protests at universities across South Africa. Ntshiqa noted: “Once a claim has been received by Sasria, it will be investigated to establish the nature and cause of damage, should such a claim fall fully within our perils, Sasria will then settle the claim accordingly.”

University of Cape Town

Justmoney contacted the University of Cape Town (UCT) about its insurance. “The University of Cape Town has an insurance policy with Sasria, which is a state-owned company and the only short-term insurer that provides cover against special risks such as civil commotion, public disorder, strikes, riots and terrorism.”

When asked about the cost of damages to the university, UCT responded: “An independent assessor assesses all damage and submits a report to our brokers. The brokers then submit all necessary documents to Sasria for their consideration. UCT has made an estimate claim amounting to R3 080 623.00 excluding VAT.”

 

 Handy tip: Do you need insurance? You can apply for various insurance products on Justmoney, click here.

 

Recent Articles

Featured Raise a deposit for your house in 5 steps

If you’re a first-time home buyer, you could be lucky enough to be  approved for a 100% bond, but if you aren’t, a 10% deposit might be required. This  could be a daunting prospect.  However, a few financial tweaks to your lifestyle and spending habits could get you a foot in the property door and, once you’ve purchased a property, significantly reduce your long-term bond repayments.

Get personal with your finances – and tie the knot

As time passes, your financial products may not live up to your needs. Therefore, it’s important to take stock of what you’re paying for and adjust where necessary. We got in touch with financial advisers to find out how you can get your finances in order, and what you should do to ensure you’re financially stable.

Personal loan or business loan? The best way to finance your business

When starting your own business, you may have to rely on external funding. Perhaps you qualify for a personal loan, but would it be better to take out a business loan instead? We got in touch with a specialist to find out whether it’s best to take out a business loan or a personal loan to assist you with your ongoing business or start-up.

What to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?

Deals

Cash Rewards up to 20% when you swipe your Absa Card at Spar

Price: Available on request
When: Daily
Where: Nationwide

The Royal Elephant Hotel Valentine's Day Special

Price: Available on request
When: 14 February 2020
Where: Centurion

Takealot January Big Sale

Price: Available on request
When: Until 31 January 2020
Where: Online