Compendium News

Category: ‘Insurance News’
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Your home is your safe space, it's where you keep your most precious belongings and it's where the heart is. At Compendium, we know this and we want to help protect the things that are precious to you.
What does household insurance cover? We cover a long list of items. From garden furniture, the contents of your tool shed, garage, maid’s quarters and expensive jewellery – we want to ensure everything important to you is covered.
How would I go about calculating the sum insured? When taking out household contents insurance, you should insure your possessions for their new replacement value of the entire moveable contents of your home.
We offer comprehensive Household Contents Cover that will protect you from all possible fatalities What am I protected against? As a valued Compendium customer, with household contents insurance, you are covered against the following:
Weather conditions such as wind, rain, lightening, storms, snow, water damage, earthquakes and hail Fires Explosions Burst, leaking or overflowing pipes and geysers Theft and attempted theft Malicious damage carried out by someone other than you Impact from vehicles, falling trees and aircrafts There are also extended cover options and extensions which you can add to your household contents insurance. One of our brokers can help you set this up with the greatest of pleasure.
Call us today for a quote: 087 724 9390

10 Facts About Building Insurance

From engineering to building processes of construction, we've got you covered” The construction industry is a highly specialised one, full of its own sets of risks and hazards. That’s why we have a unique and specially developed construction insurance to ensure comprehensive cover. This will protect you against damage to or loss of a building during construction.
Here are 10 simple, easy-to- understand facts about construction insurance:
1. This category of insurance also covers engineering, civil and development industries.
2. This insurance is interested in minimising the financial risk to investors and builders, of an uncompleted building.
3. It covers the expensive machinery that is often used in the process of building and engineering. It protects against human error, accidents, general wear and tear and damage in severe weather.
4. Construction insurance will also cover any damage done to property from accidents or equipment failure.
5. Here at Compendium, we will also insure contractors, property owners and other liable parties against claims that may come from an injured worker.
6. Construction insurance covers all risks and liabilities during the construction of roads, bridges and dams.
Know that your machinery and livelihood is protected 7. There is also a contingency policy that covers loss or damage that may occur during dismantling, transit or erection.
8. Your plan can be extended to include cover for testing new machines and equipment. This can be a risky and unreliable task, but at Compendium, we make sure you're fully protected.
9. A building site can be dangerous and unpredictable. You never know when your machinery could break down. Construction insurance can be extended to incorporate the loss of profit you may experience when machinery and equipment breaks down.
10. Construction insurance also takes care of the hiring costs and charges for any equipment and machinery you may require.
Here at Compendium, we will tailor-make construction insurance packages specifically to your needs. If you have any questions, don't hesitate to contact us and speak to one of our brokers on 087 724 9390.

All Your Car Insurance Questions Answered!

Are you looking to take out car insurance? Well, you’ve come to the right place, as here at Compendium, we offer a wide range of car insurance tailored to suit your needs.
We know how daunting the thought of insurance can be, so we’ll keep it simple and straightforward as we outline everything you need to know about motor vehicle insurance.
Does Compendium only offer car insurance? The good news is we not only insure your car, but your motorcycle, trailer, quad bike, 4×4 and even your caravan! We will cover these against damage or theft and in addition to this, there are optional extensions to suit a more adventurous lifestyle.
Are there any extra services offered by Compendium to its clients? There are many additional benefits, one of which is Compendium Assist. This is an exclusive service available to our customers. We provide a 24/7, 365 days a year emergency assist, for which we’ve partnered with the Automobile Association of South Africa.
How does Compendium calculate the sum? Well, we insure your vehicle at its current retail value. This ensures that our clients are put in a place of strength, should anything happen to their vehicles. We obtain the value of your asset from the Auto Dealers Guide, so we’re sure it’s the best possible price.
Our bokers are always here to help you How should I define my vehicle when insuring it? Well, you need you to specify your car or leisure item under the right definition. These are the three different categories:
Private use, then secondly, business use and thirdly, business use with light delivery vehicles and motorcycles Business use for motor vehicles only Business use for light delivery vehicles and motorcycles only What type of cover can I get? There are three types of cover options. You can choose from the following:
Third Party Fire and Theft Comprehensive Cover Third Party Only – this is the most limiting cover option What kind of cover will these protect me from? You will be covered for the loss or damage of your vehicle that is stated on the schedule. We, at Compendium, will then assess the situation and choose to repair, replace or pay out the sum of the loss or damage for your vehicle, minus the first amount payable.
Do you insure all car brands? We insure a wide range of well-known. Some of which include:
Volvo Kia Honda Nissan Hyundai BMW Do you have any more questions? If so, fire away, we’re here to help. Visit www.cig.co.za for more info.

Benefits of Disability Insurance

Know your loved ones are taken care off As we go about our daily lives, we cannot plan for the unforeseen. Accidents and illnesses can happen, at any time, to anyone, so it is important to have disability insurance that safeguards you against the unpredictable.
Disability insurance is a necessity, particularly if you have loved ones and a family who depend on you. If anything should happen to you, would they be protected? These are some of the difficult questions we have to ask ourselves.
At Compendium, we want to help you as much as we can, tailoring our insurance to fit both your lifestyle and profession.
With this in mind, here are a few benefits offered by disability cover:
Following an illness or accident after which you are unable to work, we will see to it that your family’s basic needs are met. These include rent, school fees, utility bills and other monthly expenses. It is important to state your occupation so that we are able to remunerate you with maximum cover. If you are employed, and have exceeded your sick leave, with disability insurance, you can rest assured knowing it will pay out a monthly income to you. In addition to disability insurance, you can also take out further cover to be sure that any costs from a forced lifestyle change are taken care of. If you happen to have stand-alone policies for example: life insurance – claiming for life disability insurance will not affect these. You can also choose the cover option that best suits you. You can be paid in a lump sum, which is useful if there are large medical bills to pay. Or, if you prefer, you can request a smaller amount up front and thereafter receive monthly payments. This policy’s pay-out is also linked to inflation, which benefits you, as it ensures you don’t have to stress about how your disability insurance is going to last you as the cost of living increases.

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