Short Term Insurance

The Basics

Short term insurance is an agreement between a policy holder and an insurer. This agreement is binding for a limited amount of time or is flexible according to the individual circumstances. You are able to insure your car, your property, your household possessions on a short term basis.

How it Works

The amount of money that you will pay to your insurer at prearranged intervals is called a premium. This amount will be worked out according to your individual risk profile.

For example, if you’re looking to insure your car, an insurance provider will generally investigate your age, gender, previous claims history and driving record; the value of the car; where the car is parked and whether it has anti-theft devices in place. These factors will determine what premium you should pay. The greater your risk profile, the higher your premium will be.

Conclusion

Overall, short term insurance is a valuable method of ensuring the security of your wealth and possessions without long-term commitment and large premiums

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© Raddix Group (Pty) Ltd is the holding company of its subsidiaries. Raddix Wealth (Pty) Ltd, FSP no: 44458 Raddix Life (Pty) Ltd, FSP no: 44747 | National Risk Specialist (Pty) Ltd, FSP no: 43832