Compendium News

Category: ‘Insurance News’
What Types of Disability Insurance Are There?

With so many different insurance options out there, it can be difficult to choose the right policies for you and your family. Disability insurance is one of those covers that people often dismiss, wrongly assuming that their life insurance or dread disease insurance will provide the same level of protection. In actuality, if you are a provider in your family, or have dependents, disability cover is a necessary policy to invest in.
Get disability cover that works for you and your loved ones with Compendium. Accidents and illnesses can happen at any time, and leave you struggling financially. The last thing you need when you’re trying to recover is extra stress. Compendium’s disability insurance safeguards you by providing you with an income if you are unable to work. You can tailor your disability insurance to suit your needs: for example, you can specify monthly payments that will cover your expenses like rent or a bond, bills, or school fees. If you speak to one of our experienced brokers on 087 724 9390 they can discuss all the options, and help you choose the right policy for you.
Compendium’s disability policy is highly flexible. It offers income protection at a time when the last thing you want to be doing is worrying about money. When you take out your policy, you can specify that you simply want to receive a large lump sum payment, or choose a smaller immediate pay-out and get a monthly income in addition. It’s important to inform your broker of your profession and monthly income, so that your policy can be calculated to have the optimum benefit in case you need to claim. If your position changes, or your income is altered, make sure to call and update your policy.
Trust Compendium to help you get back on your feet. This cover is linked to inflation, so you won’t lose out if you have to claim. If you are unlucky enough to be injured unexpectedly, our sympathetic and professional experts will help you to claim your compensation quickly and easily. Once your claim is processed, you can use your compensation in the way that suits you best; this includes paying medical bills, hiring a nurse, and covering your everyday expenses.
To get a 360 degree level of cover, and protection against an uncertain future, Compendium recommends you combine your disability policy with a number of others, such as dread disease cover and life insurance. Dread disease insurance covers you if you are diagnosed with a terminal illness, helping to cover medical expenses and lost income. Life insurance pays out a lump sum to your next of kin, or a specified recipient, on the event of your death.
It’s natural to want to avoid thinking about being hurt, injured, or unable to work, but preparing for the unthinkable could make your future so much easier. A short phone call with one of Compendium’s expert advisors could help you futureproof your life, and protect your family in case the worst happens.
Speak to one of our experts today on 087 724 9390 and discuss your options. It’s time to safeguard your future.

Do You Need to Insure Your Bicycle?

Bicycle insurance might seem like another unnecessary expense, but could you afford to lose your bike? And if your bicycle was ever lost, damaged, or stolen, would you be able to cover the expense of a replacement that matched the standard of your previous bike?
You might think bicycle insurance is only important for professional cyclists, but if you own an expensive bicycle, mountain bike insurance could protect you from an expensive loss. Whether you’re a weekend cyclist, bicycle enthusiastic, or professional competitor, bike cover could come in very useful.
Compendium offers more than the average bicycle cover, too – amongst other benefits, bike cover will keep you protected wherever in the world you are, so if you’re tackling the Munda Biddi Trail in Australia, or the Cape Argus ride, you and your bike will be covered.
Compendium's bicycle insurance covers you around the world. Compendium’s bicycle cover is fully comprehensive, too. Our policy will cover your bike when it’s in transit, and when it is in use, so you’ll never be left without protection. We know that accidents happen, especially when you’re racing around corners or navigating dirt tracks, so we’ll make sure you don’t have to pay out of your own pocket for cracked frames or dodgy derailleurs. Keeping your bike in tip-top condition means you’re less likely to suffer an accident too, proving that investing money can really pay off.
If you’re a professional cyclist you’ll be able to concentrate on the competition, knowing that Compendium has your back. Our bike insurance covers you during events and races. With our policy, your bike is protected, and so is your person. So if you take a nasty spill, we’ll help get you back in the saddle with our personal accident and all risk cover.
As a passionate cyclist, we’re sure you’ve upgraded your bike. If you’ve invested in expensive tyres or a snazzy new set of gearing, the loss or damage of your bicycle is going to hurt that little bit more. Don’t panic though, Compendium covers accessories and upgrades as well. All you need to do is make sure you give Compendium a full list of all your accessories and modifications, and if you splash out on something after you’ve taken out your policy, give us a call so we can update your coverage.
Compendium also offers extensive cover to your person, with our all-risks policy offering thorough and comprehensive cover, including medical evacuations and personal accidents. This means that if you’re hurt or injured in an isolated location, Compendium will cover the cost of your rescue, and contribute towards the medical bills. And remember, you’re covered anywhere in the world, so if you have an accident in the Alps or the Rockies, you’ll still be protected.
Included in our bicycle policy are personal liability cover and legal costs. So if your accident involves other people, or their property, Compendium will help you to avoid a lengthy and expensive legal battle. Nobody wants to think of injuring somebody else, but competitive races can often become a battle between many cyclists, making crashes unavoidable. Put your mind at rest and keep yourself and others safe with our extended mountain bike cover, which comes as standard with Compendium, unlike many other insurers.
Ready to cycle without stress? Get your comprehensive bike insurance from Compendium today! Call one of our expert brokers for a quote 087 724 9390.

A Beginners Guide To Motorcycle Insurance

You’ve bought your first motorbike, and you’re ready to hit the road and show it off – but before you do, make sure you’ve taken out bike insurance. It’s normal to want to start revving straight away, but it’s crucial to have comprehensive motorbike insurance, just in case.
Compendium’s bike insurance is specially designed for motorbike enthusiasts. Designed in conjunction with bike owners, our policy covers you for the things you really need, offering flexible and affordable cover, so that you can get the perfect policy for you. Compendium motorbike insurance also covers motor scooters, quad bikes and mopeds, so however you like to roll, we’ll provide the right cover to keep you and your bike safe.
From mountains to beaches, Compendium bike insurance has you covered. What level of bike cover do you want? Compendium’s bike cover is available at three different levels, much like car insurance. You can take out Comprehensive Cover, Third Party Fire & Theft, or the most limited, Third Party cover. As the most basic policy, Third Party does not cover your own loss, but will compensate third parties if you’re in an accident. Third Party insurance is best if your bike is worth very little, and if you could afford to replace it if it was damaged.
Third Party Fire and Theft will provide compensation if your bike is stolen or damaged in a fire, but won’t cover you if you’re in an accident of your own making. With both Third Party and Third Party Fire & Theft, you will be able to claim against the other party’s insurance for damages, if you’re in an accident that is their fault.
Comprehensive is the most thorough of all the insurance policies. Unlike the other policies, you’re covered even if the accident is your fault, and are insured against a broad range of accidents and incidents. You can even get extended health cover, so why not speak to one of our brokers on 087 724 9390 to discuss customising your policy?
If you’re a regular motorcyclist, you’ll know that many drivers do not maneuver safely around motorbikes – that’s why it’s so important to have the right bike cover for you.
How much do you want to insure your bike for? Compendium insures vehicles according to their current retail value, according to the Auto Dealers Guide. This means that if you’re in an accident and need to claim compensation for the cost of replacing your bike, the sum will be calculated according to how much your bike was worth at the time, not how much you paid for it. If you want to insure your vehicle to a specific sum, you should speak to one of our experienced brokers on 087 724 9390.
Whether you’re a hobbyist or a competitor, Compendium has the perfect insurance for you. What do you use your bike for? When you take out bike cover, you’ll be asked how regularly you use your bike, and for what purpose. This means that you’ll never have to pay for more than you use. So if you’re a regular motorbike commuter, weekend rider or long-haul holiday biker, Compendium has the perfect policy for you! Just make sure to declare your usage when you speak to one of our brokers 087 724 9390.
What if you’re in an accident? We know that South Africa’s roads can be tricky, especially if you’re navigating on two wheels. That’s why our claims lines are manned by sympathetic, professional and expert staff, making your claims process as easy as possible. Depending on the Compendium policy you choose, you could have medical cover, personal liability cover, legal cover and more. This means that all you need to worry about is getting better, or choosing your next bike!
Hit the road with peace of mind – fill in this easy online form for a quick quote here, or call one of our expert brokers to get the perfect level of cover for you 087 724 9390.

A Beginners Guide To Home Insurance

Congratulations! You now own your first home. Buying a house is a stressful and exciting experience – there’s much to remember and arrange, but most important is taking out a comprehensive home insurance policy.
When you’ve just moved into a new home, it’s normal to focus on the potential of your house, and your future in it. It’s also normal to want to focus only on the positive, but unfortunately accidents do happen and it pays to be prepared. Your house is not only your home, it’s an investment, and as such it’s crucial to protect it.
Your home is your castle. Protect it with home insurance. Home insurance is a policy that specifically applies to the structure of your building, and all outbuildings on your premises; including swimming pools, ponds, driveways, air conditioning, fences, security systems and more. It also covers the fixtures and fittings in the building, but it does not cover the contents of your home. To protect your possessions you must take out a household contents insurance policy – find out more about household contents here [LINK]. You should always have home cover to cover the building, as well as a contents one to cover your possessions.
Home insurance will cover damage to your building, meaning that you can pay for repairs with the compensation, rather than digging into your own pocket. The range of damages that a home policy covers is fairly wide, and includes natural disasters, impact, theft, and malicious damage.
In times of drought, fires become more likely. House fires have become more and more frequent across South Africa, particularly in the Western Cape, and can be one of the most destructive forces that threaten your home. Even if the fire-fighters arrive in time to quench the fire, the water damage is often as extreme as the fire damage. Fitting your home with a smoke alarm is an excellent precautionary measure to take for your own safety, but having a home policy will enable you to rebuild your home if the worst happens.
From theft to natural disasters, ensure that you are always covered. Weather patterns have also become more and more unpredictable, around the world and in South Africa. Dramatic storms bring risks such as lightning strikes, giant hail, powerful winds and flash flooding, all of which can do considerable hurt to your home. Flash flooding is unpredictable, rapid, and violent, and can cause significant structural damage as well as the obvious water destruction. You can claim on your policy for small repairs and even large ones, so if you need to rebuild foundations or fix a supporting wall, your policy will cover it.
South Africa is a country of many contrasts and risks. Stunning natural beauty comes with the extreme weather. Crime rates are also very high, which means you’re that bit more likely to encounter theft or malicious damage in your home. Compendium’s home insurance not only covers you against theft or malicious damage, but also covers your security systems, so if your gate, fence, or intercom is damaged, we’ll help you secure your home again.
At Compendium, we want you to enjoy your new house without worrying – make sure your home is safeguarded so you can be stress-free. Speak to one of our expert brokers today on 087 724 9390 and get a quote to help protect your most precious possession.