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Householder’s insurance policies are made up of coverages that can help pay to repair or replace your home and belongings if they are damaged by certain perils. A peril is an event that may damage your home or belongings.

Sacos’ Home Insurance consists of two elements: building insurance and home contents insurance. We also have a separate, more basic fire policy.

What is the difference between a householder and fire policy?

A standard householder’s policy provides coverage against a number of perils:

• Fire and smoke: Your home, its structure, and your belongings will usually be covered for fire as well as smoke damage.
• Water Damage: Homeowner’s insurance policy does not cover flooding, but they may cover water damage from burst pipes or water heaters when the cause is sudden and accidental. It will not cover damages from defect and wear and tear.
• Theft: If an intruder breaks a window or door to gain access to your home, insurance will likely cover the damage. Items that are actually stolen are generally also protected by your contents insurance. Most policies have limits on how much they’ll pay out for specific types of personal property.
• Falling objects: If your home is damaged by a falling object, whether it’s a meteor or a healthy tree that topples in a storm, homeowners insurance may help pay for the damage.

A fire policy however provides coverage against a specific type of risk namely fire, lightning and explosion. You also have more flexibility in terms of coverage with a householder’s policy as you can cover your building, fixtures and fittings whereas a fire policy can only provide you coverage against your building.

What does the Building insurance cover?

Building insurance would cover permanent fixtures. For example, it would normally consider fitted wardrobes, fitted kitchens and built-in appliances, as well as the bricks and mortar to be covered under a buildings policy.

What does the Contents insurance cover?

Contents policy would cover items of furniture and appliances that are free-standing or, if screwed to a wall, easily removable, TV and other electrical goods, clothing, furnishings, jewellery and art, etc.

Home insurance is about protecting the home you love and the contents that matter to you most.

For more information, visit us at our new location in town or call us on 429 5000 or send an email to info@sacos.sc to learn how you can protect your home.

Being the victim of a burglary can be devastating, and in the midst of all the chaos it is easy to forget what to do under the circumstance. We’ve compiled a short list of thing you may need to remember, if ever you’re in the unfortunate position of being the victim of a commercial burglary.

Call the police
This goes without saying, but as soon as you discover your property has been burgled, call the police! Not only will it start the investigation, but also you will need the police report if you are going to file a claim with your insurance company.

Don’t touch anything
While it may be tempting to start cleaning up, fight the impulse to. The police need to see everything first, just as you found it. It’s always a good idea to take some photos of the damage and the places where things have gone missing to show your insurer.

Once the police have visited the crime scene and recorded any evidence they need, you can start putting things away.

Make an inventory
Make an inventory of everything that is missing, and where possible collect any evidence you have about the items that have been taken from your property. These could include receipts, valuations and even photographs.

Contact your bank
 Check to see if any financial documents have been stolen. If they have, you should inform the bank(s) you hold accounts with so they may monitor any suspicious account activities. Ensure that you can conduct business without worrying that the criminals will bankrupt you by freezing any accounts which you suspect have been targeted.

Contact your insurance company
If you had the forethought to take out a fire and special perils comprehensive policy, then contact us! Note that your claim will only be valid if there is proof of forcible entry against your property and your premises was properly secured. Remember to submit a police report alongside your claim.

Do not wait to become a victim before you decide that business insurance in necessary.

Pay us a visit at our new location in town, call us on 429 5000 or send an email to info@sacos.sc; we’d be more than happy to help you determine which policy cover is suitable for your business.

When deciding on buying an insurance policy, one of the big questions that looms in your mind is “how much premium will I have to pay?” (A premium is the amount you pay on a monthly or yearly basis for your insurance policy.)

We have made this process easier for you. Now, at your own convenience, you can calculate the premium on your Junior Plan policy.

Our new online calculator takes the guesswork out of your planning, giving you an answer: right here, right now!

Where can I access the calculator?

 You can find access it on our website under the Junior Plan section (https://www.sacos.sc/here-for-you/life-assurance-plans/)

What does it do, exactly?

 It calculates the premium you will have to pay based on the information you provide on the following:

• Sum assured (the amount you want your child to receive upon maturity)
• term years (the length of time of the policy until maturity)
• age (your current age if you are over 35 years of age; everyone below 36 years can enter the number 35 as it carries the same rate)
• premium option (you can decide between a monthly, quarterly, biannually or yearly payment)

 What happens next?

The calculator will instantly calculate your premium! That easy!

The calculator is not a ploy to redirect you to our agents. You can contact our agents and officers afterwards to get the process started for the Junior Plan. When you meet with us, there are other underwriting conditions which can affect the final quotation you receive, as well as taxes and processing fees:

 Why is this necessary?

 We figure that since you have spent all that time doing your research, and have finally come to the conclusion that buying the Junior Plan is a huge step towards getting essential protection for your children, then the least that we can do is provide you with information in real time. We are always looking for ways to improve our services and bring our services closer to you.

If you would like more information on our Junior Plans you can download the brochure on our website, pay us a visit at our branches (Maison Esplanade – Victoria, Pension Complex –Baie St. Anne Praslin, Green Corner –Providence)  or call us on 429 5000 or send an email to info@sacos.sc.

As an employer and business owner, one of your top priorities should be to safeguard your most important asset – your employees. The Group Personal Accident Insurance offers you the possibility to do so.

What is Group Personal Accident Insurance?

It is cheaper for a business to purchase one policy than several, and this is where a Group Personal Accident Insurance cover comes into play. Rather than individuals covering themselves under separate policies, Group Personal Accident Insurance covers everyone under the same policy.

A Group Personal Accident Insurance Policy has the following characteristics:

• Issued to a group of people with similar risk profile
• Group can be formed by an employer (of employees), organisation, travel company, banks, and other service providers (for customers), etc.
• The insurance covers the expenses and compensates the insured group members for any injury sustained in the course of their lives (except injuries obtained due to excluded causes)

What does it cover?

The general benefit includes the following:

• Accidental Death
• Medical Expenses arising out of accidents
• Permanent total disability due to an accident
• Permanent partial disability due to an accident

How do I, as a business, benefit from this?

Other than proving that your business cares about your employees, the Group Personal Accident Insurance covers medical expenses for your employees in case of injury. It also helps to mitigate the financial effects of the loss of your employee’s services if they suffer an accident. Additionally, it assists your business in attracting new recruits.

What else do I need to know?

To provide coverage for your employees under this insurance, you should submit the name and ID of all the persons to be covered. As an employer, you’re also eligible to be insured under this policy! Accidents do not come with a prior announcement, hence why it is always best to be prepared.

We’ll be happy to answer any additional questions that you may have. Simply call us on 429 5000 or send an email to info@sacos.sc. Or better yet, pay us a visit at our branches (Maison Esplanade – Victoria, Pension Complex –Baie St. Anne Praslin, Green Corner –Providence)

When you operate a vehicle, you should be prepared to expect the unexpected. Kids darting across the road without looking, a bus swerving towards your lane in a bend and the sometimes inevitable – hit and run careless driver.

What to do as a victim of a hit and run accident

Being the victim of a hit and run can add to the stress of being in an accident; the shock can slow down your reaction and you may not know what to do under the circumstance. If you ever find yourself in this situation , here are things you need to remember to do.

1. Note down as much information as you can

Record as much information as you can to relay to the police. This information can help the police to locate the other driver and ensure you don’t get stuck paying for damages. Quickly take note of the following:

• License plate number
• Make, model and colour of the car
• Time and location of accident
• Contact information of potential witnesses
• Direction the driver was heading
• Pictures of the scene and damage to your car

2. Report the Incident to Police

Call or head to the nearest police station as soon as possible and file an accident report. You will be asked to give a statement. Share all the information you took note of.

3. Contact Your Insurance Company

Alert your insurance company of the accident and bring a copy of the police report and your statement so that they may begin the claims process. If you have been lucky and can identify the driver that hit you and they’re insured, their insurance policy will cover the cost of damage to your car.

What should you do if you hit someone’s car?

Don’t run. Stop and assess the damage you may have caused. Check to see if the person requires medical assistance. Call emergency or police assistance, if the circumstance requires. If it is a minor incident, offer your insurance details and accept liability for the damage you caused.

Remember, operating an uninsured vehicle on the road is illegal. If you get into an accident, you will have to incur the full cost of damage to your vehicle and damage caused to third parties.

Contact us today to renew your insurance policy.