25/06/2026
The Danger of "Under-Insurance"
Don't cut corners!
Imagine your business stock is worth P200,000, but to save on premiums, you only insure it for P100,000. If a fire destroys half your stock (worth P100,000), you might think the insurance will pay it all out.
Unfortunately, because you only insured 50% of your total value, the insurer will apply the "Average Condition" and only pay out 50% of your claim (P50,000).
Always declare the true, accurate value of your assets to avoid being caught out during a claim!
Itshwaraganye le rona
WhatsApp: +267 77 865 871 or 316 6176
Email: [email protected]
Letsema is proudly registered with the Non-Bank Financial Institutions Regulatory Authority.