A roadmap to short-term insurance cover
Whether you’re searching for a new car or ready to purchase your first home, one of the most crucial things you need to take into consideration is finding an insurer that will protect your assets.

There is a diverse range of different insurance products available and navigating through them can be complex.

What is short-term insurance?
Short-term insurance is a financial safety net against unforeseen events where your insurer will reimburse you for repairs or replacement of damaged belongings. Short-term insurance is a policy that gives you protection for a period of time. It is a policy of insurance that is taken out for a specific period, normally 12 months. Do not assume that it is automatically renewed. The policy is designed to give temporary protection against loss or damage to your private or business property when certain insured events such as vehicle accidents vehicle accidents, theft, or damage caused by lightning, fire, or water, etc. occur.

In essence, a short-term insurance policy is an agreement between a policyholder and an insurer that is in place for a limited time. Your insurance requirements will change over time simply because life is dynamic, and a person’s lifestyle changes with age. The policy can be flexible enough to make provision for different conditions.

Types of short-term insurance
Vehicle Insurance
Vehicle or auto insurance covers you financially should you suffer damage, theft or loss of your car, motorbike, trailer, or caravan. It also includes third-party insurance (for damage caused to another vehicle in an accident where you are at fault.

Household and home contents Insurance
This covers damage caused by fire, flooding, hail, wind, natural disasters, leaks, or structural integrity issues to your property. This insurance also protects you against loss, theft or damage to your home contents such as electrical equipment, jewellery, clothing, geysers, etc. In short anything that is inside your home.

All Risks Insurance
This covers items that you may take out of the house with you. An example of this is your belongings that you take on holiday with you or take out the house on a daily basis. Some of it such as expensive watches, jewellery, cameras, or bicycles may have to be specified in the policy.

Commercial or Business Insurance
This protects your business from common risks such as damages to your property caused by theft, fire, water, etc. and even injuries to customer or employees.

Benefits of having short-term insurance cover
Reduced financial burden: Accidents or incidents come at a cost that you may not be able to afford at the time. Short-term insurance helps you to replace possessions and pay for repairs, legal fees, vehicle towing and even storage- without having to go into debt.

Rewards and cashbacks/ no claims benefits: Some insurers offer benefits such as receiving a portion of your premium back should you have no claims over certain period of time. For instance, if you haven’t claimed for some time, the insurer may have extra money that they can share with you to add more value to your cover and overall experience.

Emergency Assistance: Most short-term insurance policies include added benefits such as emergency assistance: roadside assistance, tracker, electrical, water or locksmith repairs. Sometimes you may not be able to call for help yourself- you may be badly injured after an accident or a hijacking. Telematics- based insurance cover can help, as it offers tracking capabilities to pick up vehicle-related emergencies and send the required assistance.

Considerations when taking out short-term insurance

• Clearly identify what your needs are.
• Evaluate your budget.
• Do your research.
• Know what short-term insurance is about.
• Get expert advice.

Morebo can assist you with all your short-term insurance needs. Our professional consultants will tailor-make a solution to your specific household, vehicle or business requirements and will ensure that you have the best products for your specific needs. We are committed to creating a comfortable experience for our clients.