Despite the tough economic times in Nigeria and even South Africa, report shows that South Africa’s luxury brand market totalled $2.3 billion (about R30 billion) in 2016.
While this extravagant spending represents a tiny per centage of the total population, the number of international brands entering the country, as well as the increasing availability of expensive electronic devices means that the average value of consumers’s assets are also generally rising.
As a population that lives in a high-tech global village, people are accumulating assets and wealth at a rapid pace. It is important to protect against the risk of losing these assets to avoid financial loss but sometimes funding short-term insurance cover that is specifically tailored to suit one’s unique needs can be time-consuming and rather confusing task to tackle.
Most people are looking to obatin a competitive premium, they need to ensure that they have the right level of cover and understand the terms and conditions of their insurance policy. This is where the value of an Insurance Broker comes to play.