Get It sat down with Gideon Galloway, CEO at King Price Insurance and if you think you don’t have enough ching-ching to dish on insurance, he suggests you think again.

1.       YOU NEED IT
A big reason people do not take out short-term insurance is because of the false belief that ‘it won’t happen to me’, but this is an avoidance mind-set. Even if you are a terrific driver, you can’t account for the behaviour of everyone on the road. Nor can you guarantee that nothing will ever damage your home or its contents.

Paying an insurance premium every month can seem like a hassle, and if you are lucky enough not to need to claim, you may feel that you have wasted your money for no reason. However, when you get into that expensive fender bender, or your geyser bursts all over your home office, having insurance will help you cope with the situation and give you the comfort of covering the expenses without straining your finances.

2.       YOU CAN AFFORD IT
Let’s face it, for most people insurance isn’t sexy, and when it comes down to deciding between a great pair of shoes and a monthly premium, insurance is the first thing to get the boot. With the rand weakening and expenses rising, many people believe they simply do not have the extra money to pay for insurance.

The key is to stop seeing insurance as an option, and to recognise it as a necessity and to budget accordingly. What’s more expensive; paying a monthly premium, or writing your car off and having to buy a new one out of your own pocket?

3.       PAY NOW, SAVE LATER
The biggest danger of being uninsured is finding yourself in a situation where something has gone wrong and you need to pay out huge amounts of money to fix the damage.