14 500 wild fires were tackled in 2018 in the Western Cape alone. This seasons fires were more fierce than last years, with fire lines up to 180km long. Since 2012 the fire department has upped its firefighting aerial support from 8 to 26 firefighting aircraft.
According to Pieter Visser, a catastrophe analyst at Aon South Africa – the combined catastrophe insured losses for South Africa in 2017 was the highest ever recorded, with the Knysna fires and the Durban floods driving the report.
“Reinsurers do not regard South Africa as a low catastrophe risk region anymore, with the country having experienced a high frequency of large loss events in the last five years,” said Visser.
With these scary statistics we want to take a look into the importance of fire insurance and ensuring that you are not under insured.
Fire Insurance policies provide payment for the loss of property as a result of a fire, or additional living expenses that were made necessary by uninhabitable conditions as well as damage to personal property and nearby structures.
In the Knysna Fires of June 2017 more than 50% of the homes damaged were NOT insured or underinsured, With the initial report estimating a loss of R4bn, however the total loss reached over R6bn with only R2.9bn being insured.
When the insured value is less than the actual value of the insured goods, the amount claimed will be reduced in proportion to the under insured goods. Therefore ensuring that your property and home contents is NOT under insured is vitally important.
With Discovery Insure you receive a Non – Average Guarantee, meaning valid claims will be paid out in full and, within three days of plan activation Discovery Insure will automatically contact clients who have house hold contents insured for more than R1.5 million to arrange inventory assessment at no further costs.
Some valuable benefits from discovery insure include:
- Fire brigade charges
Discovery will cover reasonable costs charged by authorised individuals for extinguishing a fire to prevent loss or damage to your property and household contents.
- Damage to Gardens
Discovery will cover damage to trees, plants, shrubs and irrigation systems on the grounds of the building that arises from a fire explosion, the result of extinguishing a fire or damage caused by the impact of a vehicle or aircraft
- Trauma Counselling And Concierge
Discovery will cover you or your domestic staff for professional conceding after the fire.
If you would like to find out more about Discovery Insure, feel free to contact us here.