UNDERSTANDING SHORT TERM INSURANCE

Diversity Casual People Insurance Policy Benefits Help Concept

Alpha Direct Insurance currently offers short term insurance only. First things first, what is short term insurance? With short term insurance you are covering possessions for the shorter term. Remember that with any type of insurance cover, you are covering either a specific item or a specific eventuality for a period of time.
A short term insurance policy provides cover against loss, damage, liabilities and more.

To compensate coverage of a loss you suffered on your insured items, you will pay a monthly or annual premium to an insurance company providing you with cover. Calculation of your premium is based on your risk profile (age, gender, where you live, security measures, item insured, value of the item, claims history of the insured etc.)

High risk = high premium and low risk = reduced premium. Consideration of risk profiles is super important so as to avoid instances where low risk profiles end up subsidizing high risk profiles. You as the client deserve so much better and you most definitely need not to spend more than you should, hence Alpha Direct’s sophisticated underwriting system.

Alpha Direct’s short term insurance products include of the following;

• Household Contents
With this cover, we will cover your household contents against theft, as well as damage caused by a power surge or a burs geyser. Even damage to your contents due to fire, lightning storm, hail and flood is covered.

• House owner’s Insurance
This policy will cover the replacement cost of your house including outbuildings, fixtures & fittings, Swimming pools, perimeter walls against loss, destruction or damage arising from or caused by storm, fire, lightning, and flood.

• Personal All Risks Insurance
You’ll receive cover for items you take or use outside your house such as laptops, cell phones and any other valuables.

• Motor insurance
With this cover, you vehicle is protected from damage caused by accidents, theft and fire. Also, accidents caused by your actions to third parties are covered for.

• Fire insurance
Covers damage done to property, buildings and structures by fire, lightning or fire bolt & explosion.

• Workman’s compensation
This policy covers the legal liability owed to employees in terms of the Worker’s Compensation Act of Botswana arising out of and in the course of their employment.

And so much more including but not limited to;
• Third party liability
• Personal liability
• Fidelity insurance

As for the policy wording, it is analysed in conjunction with the policy schedule to determine cover, excesses, extensions, conditions and exclusions.

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