In simple terms, a ROA is a document that outlines the advice given by an insurance broker to their client. It’s a record of the discussion that took place between the broker and client, detailing the client’s needs, what products were recommended, and the reasons behind those recommendations.

For more Details on how to Complete a ROA visit: https://umacons.co.za/knowledge-base/how-to-complete-a-record-of-advice-and-the-importance-of-a-client-record-of-advice-and-financial-needs-analysis/

Replacement Value is the current cost to replace the item (E.g. Building – to reinstate a property to its original state if destroyed). Market Value is the price a willing buyer and seller agree to or would agree to.

No, At Uma Underwriting Consultants we are all about customer service, and what better way than to provide free quotes, Quick and east. Should you want to request a quote from us, Simply contact us via the usual channels to obtain a quote for your Clients

The Average Clause means that the insurance require you to bear a proportion of any loss if your assets were insured for less than their full replacement value Let’s make use of an Example: Let’s say John’s apartment is insured for R 500 000 But is worth R 1 000 000. One day while at work an electrical fault causes the apartment block to burn down. John submits a claim, John’s Claim is successful but he receives only R 500 000 as the sum insured was only 50% of the actual value of his property. ​ How do you prevent this? Well, it is important to take into account the cost of inflation and how it will affect the overall value of your property from one year to the next. Most homeowners’ insurance policies are automatically adjusted each year to accommodate increases in building material costs. However, these adjustments may not always be enough to cover the actual cost of rebuilding your property or a particular part thereof. We, therefore, recommend that you reevaluate your property from time to time to be sure that you are adequately insured against any potential risks.

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You can contact support@umacons.co.za for assistance.

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