Three insurance policies you'd be CRAZY to do without

These "can't do without" insurance policies are those that can protect you from disasters that could wreck your whole life, and the lives of your spouse, children and parents.

Motor vehicle

The first 'must have' insurance relates to your motor vehicle. You simply MUST have Third Party insurance.

Even if you choose not to, or can't afford to, insure your car against damage or theft you MUST insure yourself against the damage you COULD do to other vehicles and their drivers and passenengers.

Without such insurance you could find yourself sued for every cent you have , and everything you own.

If you don't have Third Party Insurance, at least, PLEASE go and arrange it today.

Medical insurance

The second 'must have' insurance relates to your health and that of you and your family, otherwise known as medical aid.

You may not be able to afford a full medical aid policy, that covers visits to the doctor, medications medical tests and everything else, but at least have a hospital plan that covers all, or most. of your hospital costs.

You have no idea of the cost of an extended hospital stay (together with procedures, tests and operations). Thousands a day!

Trust us. Unless you are very rich you cannot afford to pay the cost of hospitalisation of you or a member of your family.

Understand that the alternative is a public hospital.

Household contents insurance

The third 'must have' is household contents. Robbers can steal a lot. A fire can steal everything.

Make sure that everything is covered, that you have not underestimated values, and that you have photos to prove that you owned it all.

Home insurance

The fourth, if you own your own home, is home insurance. A fire can destroy everything. Without home insurance you would have to rebuild it from scratch.

Covered by bank arranged insurance? Ya, well, no fine! But make sure you cannot get a better deal elsewhere.

Essential insurance warning

In general, we advise you to shop around. Make sure that you are getting the best deal, whether it is for car, medical, household contents or home insurance.

The 'essential insurance' list above does not, in any way, suggest that these are the only insurances you should have. Nor should the list be taken as "financial advice". We recommend that, having shopped around, you get financial advice and consider consulting an insurance broker.