If you’re from South Africa, chances are you’ve seen SASRIA listed as a line item on your insurance policy. But what exactly is SASRIA, and why should you care about it? In this article, we’ll break down everything you need to know about SASRIA insurance.

What is SASRIA?

SASRIA, or the South African Special Risks Insurance Association, is a short-term insurer that provides cover to government departments, businesses, and individuals who own property within South Africa’s borders. It covers damage to property caused by special risks, such as civil commotion, public disorder, strikes, riots, and terrorism.

What Does SASRIA Cover?

SASRIA provides insurance cover that protects businesses against financial loss due to uncontrollable factors, such as damage to property caused by civil unrest or riots. The cover can range from R50 to R200 per year and can insure up to R500 million, depending on the level of cover and resulting premium. However, it’s important to note that SASRIA doesn’t cover losses resulting from other events, such as theft, confiscation by lawfully established authority, or deliberate slowing down of work due to strike action.

When Should You Call SASRIA?

If your business suffers losses due to looting or other forms of civil unrest, you should call SASRIA. However, if you have a fender bender in your delivery vehicle, you should call your regular insurance company. To file a claim with SASRIA, the company must receive a written claim within 30 days of the event. The claim can be submitted by the business or through your insurance broker. SASRIA will require documentation from the business, including proof of payment of premiums. The claim will then be assessed by a loss adjustor, who will also manage any salvage. Any repairs must be approved by SASRIA, who will issue a clearance certificate. Finally, an agreement of loss must be concluded between SASRIA and the insured.

In conclusion, SASRIA is an important insurance policy to consider if you own property or a business in South Africa. It provides coverage for specific events that are not typically covered by other insurance policies. However, it’s important to understand the limitations of the coverage and to know when to call SASRIA in the event of a claim.

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