How much SASRIA cover costs
How much does SASRIA cover cost in South Africa?
SASRIA cover is relatively cheap. It is added to your existing policy as a small extra premium, worked out from the value of the property you are insuring, so it costs a fraction of your main cover. The more valuable the asset and the higher the SASRIA limit, the more it costs, but for most people it is a small addition for meaningful protection.
Key takeaways
- SASRIA is added to your policy as a small extra premium.
- The cost is based on the value of the property insured.
- It is typically a fraction of your main insurance premium.
- Higher values and higher limits cost more.
- It is inexpensive relative to the protection it provides.
How SASRIA is priced
SASRIA cover is not a standalone policy you shop for separately; it is added to your underlying insurance as a coupon, and the premium is calculated from the value of the property you are insuring. Because the risk is pooled nationally through SASRIA, the rates are standardised, and the cost is usually a small percentage of the sum insured, far less than your main cover.
What affects the premium
The main driver is simple: the value of the asset and the SASRIA limit you need. A more valuable car, home or business property costs more to cover, and choosing additional cover above the standard limit adds to the premium. Beyond that, SASRIA pricing is largely uniform, so there is less variation between insurers than on your main policy.
Why it is worth the small cost
The value of SASRIA lies in the mismatch between its low premium and the large, unpredictable losses it covers. Events like the widespread unrest South Africa has seen can destroy vehicles, homes and businesses in hours, and normal insurance excludes that damage. For a small monthly addition, SASRIA turns that catastrophic risk into a covered one. See why normal insurance excludes it.
Adding SASRIA to your cover
Because SASRIA attaches to your existing policy, you add it through your insurer or broker rather than buying it separately. When you take out or review car, home or business cover, ask for SASRIA to be included and check the limit. To sort your underlying cover first, compare quotes. This is general information, not financial advice.