By: Momentum

Momentum Short-term Insurance (MSTI) reviews its Policy Wording document regularly to ensure it continues to offer premium cover options that are competitive and serve its clients better. 

MSTI Chief Actuary, Rudolf Britz, says several factors are taken into consideration to either match industry standards or enhance cover options. “This year, we made eight material changes to the policy wording in our Building-, Home Contents-, Personal belongings- and Vehicle cover options. 

“Three of these material changes, in particular, are underpinned by our two pillars of safety and convenience and showcase our commitment to not only covering our clients’ possessions, but to covering their personal safety too.”

One material change relates to the employment of security guards under the Building and Home Contents cover. If clients’ properties suffer incidents for which they can claim, MSTI will compensate them for the employment of security guards to protect their property, if necessary, until they are securely protected again. 

Britz says this benefit offers clients peace of mind if their properties are compromised. “Knowing someone has been deployed to watch over their property while repairs are being conducted, will make our clients feel less vulnerable.” 

Many South Africans enjoy taking household items with them when they go on holiday. Another material change under Home Contents refers to loss of damage to household goods temporarily removed from an address listed on the client’s schedule. 

This could be items such as coffee machines or satellite decoders, but excludes items such as cell phones and jewellery, which are specifically covered under the Personal Belongings section. 

A third material change, which falls under Personal Belongings cover, refers to the cover of items inside a vehicle when there is no one in the vehicle, and the vehicle, by design, does not have a concealed or enclosed section area such as a cubbyhole, boot or no retractable or removable boot covers. 

“Cover for loss or damage caused by theft of these items is provided as long as windows of the vehicle are covered with smash and grab safety film of at least 100 micron and with visibility of 35% or less and there are visible signs that the vehicle has been broken into,” says Britz. 

Britz says MSTI is committed to being there for clients on their journey to success. “While our product is primarily concerned with our client’s possessions, MSTI truly cares about our clients. The changes made to our product offering were designed with the improvement of our clients’ safety and convenience in mind.”