Sasria provides short-term protection against special risks that the broader insurance industry doesn't cover. Examples of these special risks include civil commotion, strike, riot, public disorder and terrorism. Your Sasria policy does not cover war and war-related activities.
To be insured against the special risks mentioned above, you must have an underlying policy that includes Sasria cover at the time of the event giving rise to a loss.
If you choose to only take out Sasria cover, there must be a pro forma underlying policy as a formality. The pro forma policy can be issued by any underlying insurer. The underlying insurer is obliged to give you Sasria cover regardless of your risk profile.
An insurer cannot refuse to underwrite a risk because they deem it to be high risk, similarly they cannot cancel a policy because there have been numerous claims.
COVID-19 food insecurity and recent incidents of looting show this special-risk insurance is both critical and necessary. Speak to us about adding Sasria cover to your existing business or personal policy, or about securing a stand-alone policy.
Cover Included with Sasria
- Cover for accidental or deliberate damage done to your personal property by individuals or a crowd who are taking part in a strike, riot or protest.
- Cover for deliberate or accidental damage caused by an individual or a group who are involved in a political or social protest, aimed to induce fear among the public or overthrow/influence any sector of the government.
- Loss or damage which is consequential or not directly related to the above-mentioned events.
- You will not be compensated if your property is confiscated lawfully by the relevant authorities.
- Loss or damage as a result of theft or looting, unless it involves a protest, riot or strike.
Cover NOT Included with Sasria Insurance
SASRIA COVER & COVID-19
SASRIA cover is not directly impacted by the COVID-19 pandemic, however, the indirect impact could result in
riots and looting, in which case SASRIA cover could be
asked to respond.
If your property or assets are damaged as a result of civil commotion, public disorder, strikes, riots and/or terrorism (whether on a personal or commercial policy), it's important
to understand that your standard insurance policy will
not cover this damage and if you don't have a SASRIA
extension in place, your claim will be rejected.
Don’t have regrets, speak to us so to confirm that you have the appropriate cover in place - especially if you're a business owner.
What you need to know in terms of your existing insurance cover:
Business Assets (buildings, contents and stock)
Business Interruption cover (Loss of income)
There are 4 different methods of arranging this cover:
1. Standing charges – client must provide a list of their standing charges. 2. Working expenses – The formula used to determine the sum insured is: Gross Profit less Net Profit = Working Expenses. The list of uninsured working expenses must be provided.
3. Net Profit – the net profit can be insured on its own or with the Standing charges or Working expenses policy.
4. Gross Profit – insurance gross profit is defined as Turnover less purchases, bad debts and any other expense deemed variable.
What you need to know ... These are just some of the most frequently asked questions we receive about SASRIA Insurance.
In order to claim through SASRIA, the incident must be reported as soon as possible to the South African Police. You must then inform us about the claim and we'll send the details to SASRIA on your behalf. If the claim is approved by SASRIA, they'll send us the payment and we'll ensure the payment is made to you.
Here’s the maths:
Sasria has a reciprocal agreement with NASRIA (a Sasria like institution in Namibia) whereby if the insured has a Sasria Policy/Coupon and is temporally in Namibia the Sasria Policy/Coupon will respond to any Sasria type claims and vice – verse.
Sasria cover will NOT cover your vehicle or goods in any other country.