Does your insurance cover you properly as a South African worker?

The spotlight falls on workers during the month of May. There are few everyday necessities as connected to workers in both our personal and professional capacities as short-term insurance.

Insurance has historically been perceived by consumers as a grudge purchase. However, when you consider how hard you work every day to be able to afford your car, electronics, household appliances, clothes and luxury items, or to build your own business, why wouldn't you want to protect this at all costs?

Insurance is not self-serving. It is a safety net that allows you to continue enjoying the fruits of your labours no matter what curveballs life throws at you. It secures the assets you've worked for and ensures financial security in the face of accidents, theft or disaster to enable you to grow your assets, and your business, even further in the future.

If you think short-term insurance is just for salaried employees with cushy office jobs, think again. All workers, including employees at every level, remote workers, side-hustlers, SME owners, start-ups and entrepreneurs benefit from having the right insurance policies tailored to their needs.

• All employees, at every level: it's unlikely you can afford to cover the full costs of repairing your vehicle in an accident or replacing it in the case of theft. The same goes for your household items and luxury goods. So why take that chance? Your insurance policy carries that risk for you, so that the goods you've worked for remain safe and secure.
• Remote workers and side hustlers: your laptop, phone and vehicle aren't just lifestyle items, they are the tools that allow you to do business. Damage or theft of these business assets could derail your income or additional revenue streams, leaving it difficult for you to recover. Insurance allows for hassle-free hustling.
• SME owners, start-ups and entrepreneurs: if you are not able to run your business, all salaries dry up. Business interruption is a major concern when other people rely on you for their salary and livelihood. Insurance that protects your business continuity is an imperative, no matter the size of your business or sector you operate in.

Whatever category of 'worker' you fall into, there is no excuse not to have a sound insurance policy backing you, whether for your personal or business assets, your luxury items or your tools of the trade, or the business itself.

Paying your insurance premiums each month isn't a case of 'throwing good money after bad'. It protects everything you've worked for, makes getting back on your feet in case of theft, damage or disaster that much easier, protects your finances, and helps keep business doors open (and the payroll running).

Do a mid-year review of your policy to ensure you're correctly insured for all the important things in your life or business. Don't let all your hard work be for nothing, and risk losing assets or your business due to policy gaps or incorrect insurance.