South Africans Urged to Insure Valuable Festive Season Gifts

South Africans have been urged to insure the valuable gifts they have received during the festive season. 

The holiday season has become synonymous with spending big, particularly when it comes to gifts for family and friends. 

For those who are lucky enough to be the recipients of the most coveted, big ticket items, there is a financial aspect of receiving high-value gifts that is often neglected – short-term insurance. 

In a recent report by Google, some of the world’s most trending gifts for 2021 included high-value tech items including Apple AirPods and the Sony PlayStation 5, including  expensive kitchen equipment such as air fryers and coffee machines. 

Bertus Visser, Chief Executive of Distribution at PSG Insure said people often get caught up in the hype of receiving gifts and don’t stop to think about what would happen if those items get damaged, lost or stolen.

“Those unfortunate circumstances detract from the joys of receiving gifts so one way to be prepared for the unexpected is to make sure that those items are insured. Where short-term insurance is concerned, our advisers encourage individuals to ask questions and empower themselves with the knowledge they need to make informed decisions around their financial security.”

Visser said it is vital for those who take out short-term insurance to consider regular valuations of their household contents and other policies to make sure that the current value of the item insured covers both appreciation and depreciation of goods.