You don’t need insurance… Until you do

We all like to believe that bad things won’t happen to us – and this sometimes causes us to question why we should have insurance. But the truth is that accidents happen, crime is a reality, and insurance is a necessity.

“People often only understand the true value of insurance when something goes wrong,” says Wynand van Vuuren, client experience partner at King Price Insurance. “But you can be sure-sure that, at some point, something is going to go wrong. Sometimes, your actions may accidentally cause loss and damage, and sometimes it may not be your fault. But, if your claim is valid, we’ll come to your rescue.”

The accident that wasn’t your fault: You’re driving home from work. You’re obeying the speed limit. You’re alert. But someone else isn’t. They skip a red light and bash into your car… It happens! Even if you’re doing everything right, someone else’s bad decisions could still affect your life.

The car that just… Disappeared: It was parked at the mall or outside the gym. Or even in your own driveway. And then it was gone… Car theft and hi-jacking happens so often that it doesn’t even make the news anymore. But here are the numbers: In the last three months of 2024, 8,597 cars were stolen and 5,477 were hijacked. The risk that your car might become a statistic this month is higher than you think.

The geyser that rained through your roof: You come home to the sound of rushing water. You open the bathroom door and it’s… Raining? Inside? Geyser failure can cause massive damage, not just to the geyser unit itself, but also to your ceilings, cupboards, furniture, and appliances. And, it’s the kind of damage that adds up quickly.

The lightning bolt that fried your electronics: Power surges are caused by spikes in electrical voltage when the power supply to your home is suddenly interrupted or switched back on, or if lightning strikes. Why is this important? Because they can blow your TV, fridge, computer, gate motor… Anything electrical. The kind of stuff we all use every day. And replacing it all at once? That’s likely to cause a massive surge in your stress levels.

The oopsie that didn’t just affect you: You forget to pull up your handbrake and your car rolls through someone’s wall, over their orchid garden, and into their pool… You don’t just have to pay for your car, you’re legally responsible for the wall, orchids, and pool as well. That makes it a pretty expensive accident! Luckily, if you have car insurance your legal liability for these costs is covered. In fact, third-party liability cover is one of the most important reasons for having car and buildings insurance.

“We get it. Insurance isn’t as fun as a new phone or as satisfying as a weekend away. But it’s peace of mind. It’s knowing that when life happens – and it will – you won’t face the financial fallout alone. Basically, if you can’t afford to replace your car, or your home and everything in it, then you need insurance,” says Van Vuuren.