Its Your Choice When It Comes To Choosing An Insurance Company

There is a series on TV at the moment, it's called Hustle. The general premise of the show sees con artists pull off intricate 'stings' to swindle money from innocent 'marks'. The 'mark' is the intended victim of the planned con. You get the picture.

Unfortunately, many consumers are conned, like this, on a daily basis in South Africa. The con itself is not all that complex, nor does it involve a professional conman. But the principle is the same, and so is the result. Fabian Angiers, general manager of Dial Direct Insurance explains: "For too long the South African public have been forced to take out mandatory, hefty and overpriced insurance policies by banks, micro lenders and retailers. Not only does this lead to confusion, but sometimes consumers are subjected to non-disclosure and are being sold products they do not necessarily need or products they need but pay too much for." Say you purchase a new cellphone for example. Many cell phone providers will insist on you taking out an insurance policy, with their preferred insurance supplier, so that if the cell phone goes missing, you, and they, are covered for the loss. "What many people don't know," says Angiers, "is that your regular insurer may offer the same package under its portable possessions policies, and they can save you from paying double for your cell phone insurance. The same rule applies to homes that are bonded to a bank, vehicle leasing and HP agreements and funeral policies." Times are a-changing though and soon, with the introduction of the National Credit Bill, these companies will no longer be able to impose their own 'compulsory' insurance, giving consumers the right to opt for an insurer of their own choice. Mandatory insurance will be a thing of the past and will not only allow consumers to save money, but also to be in a position to make an informed decision as per the terms of the Financial Advisory and Intermediary Services (FAIS) Act. "The National Credit Bill will allow the South African public to make an informed, personal choice with regards to their vehicle, cell phone and home insurance. It has to be said though, insurance is still essential, which insurance company you choose to buy it from is up to you," concludes Angiers. For more information on Dial Direct Insurance, visit

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