South Africa

Sasria will cover burned trucks if they were insured against civil unrest, public disorder, strikes, riots and terrorism

Nobody pays short term insurance premiums with a smile, but there are a few truck owners who are glad that they were insured when their trucks were attacked and burned recently.

This kind of damage is usually not covered by short term insurers, but adding Sasria insurance to your short term insurance can insure your possessions from damage during civil unrest, public disorder, strikes, riots and terrorism.

“Over the past five years we have paid out an average of R1 billion per year and received a record number of claims totalling over R1.5 billion for the year ending 31 March 2019. This was an increase from R662 million in the previous financial year. The causes were mainly service delivery protests which accounted for 80% of the claims, while labour strikes made up the balance,” says Cedric Masondo, MD of Sasria.

Sasria was started in 1997 to offer special risk insurance to individuals, government and businesses. Entrepreneurs can have the assets in their small businesses protected against strikes, riots, protests, public disorder and terrorism up to a value of R2 million.

With the burning of trucks in the news lately, Masondo says goods in transit is also covered by Sasria goods in transit cover, which covers all goods in transit on South African soil, whether on land, in the air or on the sea, such as marine cargo, marine hulls and inland water vessels.

The motor cover from Sasria covers business vehicles against damage or loss, including motor cars, light delivery vehicles, commercial vehicles, motor fleet vehicles, motor traders, mobile plants, buses, bus rapid transport (BRT) and trailers in an event of damage during strikes or riots. Business interruption cover from Sasria then also covers the loss of business.

Material damage cover covers your assets against losses or damage to domestic and commercial property, equipment, containers and aviation hulls, as well as harvests and livestock on farms caused by riots, strikes, public disorder, civil unrest and terrorism.

Sasria cover also insures the cash and cheques of businesses handling money when they experience a loss or damage due to a strike, riot or protest. Construction risk is also covered for loss or damage to a construction site, plant and tools due to strikes, riots, public disorder and terrorism.

Sasria cover cannot be taken out on its own and has to be added to your existing insurance policies, but Masondo says you have to make sure that it is added.

Premiums are low, with the cost of insuring a single car through Sasria only about R4 per month.

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