In the spirit of Mother’s Day, Ami Underwriting Managers (Ami), encourages South African women to reflect on their own insurance needs amidst their busy lives of caring for others. In a society where women often place the needs of their families and loved ones first, Christelle Colman CEO at Ami, highlights the critical need for women to prioritize their own insurance coverage to safeguard against unforeseen risks.
“Amid the hustle of managing the risks associated with our loved ones’ belongings and safety, we women tend to neglect our own insurance needs,” Christelle reflects. From the daily essentials carried in our handbags to our most cherished jewellery, the oversight in insuring these personal belongings can have significant consequences.
Key Areas of Concern for Women’s Insurance:
1. The Contents of Your Handbag
The modern woman’s handbag is a treasure trove of valuable and indispensable items, from smartphones and tablets to designer accessories and essential medication. Yet, the contents of our handbags, including the bags themselves if they are of a designer brand, are often underinsured or not insured at all. Christelle points out the critical need for comprehensive insurance to cover these personal belongings, highlighting the risk of fraud and identity theft that accompanies the loss of such items.
2. Jewellery Insurance
The sentimental and financial value of jewellery, especially pieces that are antique or have been part of significant life events, cannot be overstated. Regular and accurate valuations are essential to ensure jewellery is insured for its true replacement value. “In an ever-changing economic landscape, it’s imperative to stay updated on the current valuation of your precious items,” advises Colman.
3. Understanding Your Coverage
There is a prevalent misconception among women that insuring high-value items like jewellery or designer goods for a fraction of their worth is sufficient. This approach can lead to inadequate coverage in the event of a loss. Christelle Colman stresses the importance of insuring for the maximum exposure value and consulting with insurance professionals to ensure that coverage accurately reflects the value of your possessions.
Moreover, it’s crucial for women to verify that they are recognized as the primary drivers on all relevant vehicle policies, potentially benefiting from discounts offered to female drivers.
“This Mother’s Day, let’s acknowledge the immense responsibility women bear in safeguarding the well-being of those around them. It’s time to extend that care and protection to ourselves,” Colman asserts. With the right insurance policies in place, women can secure not only their possessions but also their peace of mind.