Santam Business Insurance

Who is Santam?

Santam is one of the leading insurers in the country and the insurer of choice for many of South Africa’s top companies. It’s no wonder that this insurance giant is South Africa’s largest short-term insurer and registered financial services provider. The company has more than 22% of the market share and also has interests in Tanzania, Malawi, Uganda, Zambia, and Zimbabwe.

Santam is associated with brands such as MiWay, Centriq, and other niche companies in the industry. Their ethos is “insurance good and proper”, which emphasizes responsible and ethical insurance. They have received praise from both the Sunday Times Top Brands survey and the annual Loerie Awards.

Who Owns Santam?

Santam (The Suid-Afrikaanse Nasionale Trust en Assuransie Maatskappy  or South African National Trust and Assurance Company Limited) is owned by a board of executive management members.

What Do Their Corporate Insurance Plans Cover?

Santam offers their clients and customers tailored insurance for their enterprise, no matter what size or industry. Whether your company forms part of the hospitality sector or service providers such as plumbers, carpenters, and even civil engineers, you can get cover for potential risks your company may face.

Remember that the cheapest products and premiums don’t necessarily offer sufficient cover when it comes to replacing valuable assets. Sudden damage and losses can cause restrictions in cash flow or financial constraints. With cover from the Santam Group, you can have certainty that your business is safe from financial disaster.

Types of Cover

You can get comprehensive cover for all your interests and assets in one insurance portfolio. Along with insurance cover, they also offer their business clients business insurance expertise from advisors who provide expert opinions to alleviate financial stress. You can also use the simple tools they offer to find solutions to your corporate challenges, such as online calculators, business marketing, business news, Santam quotes, and more.

Commercial Cover

Santam offers plans from the basic third-party only cover to comprehensive car insurance for business vehicles. You can get fleet cover for your entire fleet of trucks, cars, or other vehicles with them. Their vehicle cover usually forms part of a commercial insurance portfolio that also includes cover for:

• business assets, interruption, theft, and fire;
• buildings, contents, glass, and money;
• goods in transit, all risk, fidelity, and accidental damage;
• public liability, employer’s liability, group personal accident cover, and electronic equipment;
• umbrella liability, machinery breakdown, deterioration of stock, and interruption due to machinery breakdown.

Hospitality Cover

Hospitality businesses can purchase their tourism, leisure, and entertainment policy or their guesthouse policy to cover risks unique to their industry. Santam’s insurance solutions are flexible enough to fit all your insurance needs, including your entire staff complement.

They have committed to fulfilling all valid business interruption claims due to COVID-19 after losing court cases, such as the one against Café Chameleon. This court case has set the precedent for South African insurance companies and how they pay out COVID relief claims to organisations who could not operate during national lockdown.

Santam Business Insurance Benefits

1. 1. They Are Large-Scale Insurers

   As South Africa’s largest short-term insurer, Santam has the financial backbone to fulfill any claims you may need to make. They’ve insured risks of over R4 trillion in value, and over 85 of the country’s largest companies who are listed on the JSE’s top 100 trust them to insure their risks.

2. 2. A Smoother Claims Process

   They claim to look for reasons to pay out your claims rather than looking for reasons to deny them. Their excellence guides and claims philosophy underpin this commitment to their customers. This means when you claim, the process should be easier.

3. 3. Free Emergency Assistance Services and Support

   They promise to be there for you 24 hours a day, seven days a week. All their clients have access to free emergency services and a call centre for emergencies and claims.

4. 4. Safety Support Services

   All Santam’s customers can get free weather warnings and safety tips by following their social media channels. Customers can also access a free home-drive chauffeur service up to six times a year when their alcohol consumption levels are over the legal limit.

Is Santam a Good Insurance Company?

Different clients have had differing experiences with this insurer. Many would say they are a good company based on the facts provided. If you are considering them as your insurance provider, you can look at online reviews and ratings to decide how they compare to other insurers when it comes to common pitfalls.

Their trust rating on Hellopeter’s Trust Index is 5.7 out of 10, for example. When considering this insurance company, you can also look at policy wording, the benefits they offer, their claims process and reputation, exclusions, and points of contention such as business interruption cover due to the pandemic.

Do you want to enjoy cover for your staff, building, assets, and insurable risks with an insurance giant that is committed to paying out your claims and giving you the cover you need? Simply fill in the form at the top of this page, and the ideal insurer for you will contact you shortly.