Back to blogUpdated · 1 min read

Policyholder

A policyholder is the person who bought the insurance policy. They are the owner of the insurance contract and are responsible for paying the premiums on the cover and are the only ones who can make changes to the policy or cancel it.

Who protects my rights as a policyholder?

In South Africa, policyholders are protected by the Ombudsman for Short-Term Insurance (https://www.osti.co.za) and the Ombudsman for Long-Term Insurance (https://www.ombud.co.za). Your insurer generally lays out a step-by-step process that you can follow if you believe that your insurer has treated you unfairly. One of the steps being that you can complain to the Ombudsman, who will take a look at your case free of charge.

What are my rights as a policyholder?

In South Africa, all policyholders have the right to be treated fairly as set out by the Treating Customers Fairly (TCF) regulatory framework.

Get your quote in 90 seconds

You might also like

Definitions

Underinsurance

Underinsurance, in the context of home and contents insurance, is when the amount you’ve chosen to insure all your belongings for is less than their actual replacement value.

1 min read
Definitions

CoverPause®

Naked’s CoverPause allows you to downgrade your comprehensive cover to stationary cover on the days that you’re not driving. You can save up to 50% on your premium while still being covered for theft, fire, Mother Nature, or anything else that can happen to your car while it is parked.

1 min read
Definitions

Insurable interest

To have an insurable interest in something means you either own it or would suffer financially if it were damaged, destroyed or stolen. Insurable interest is needed before you can insure an item.

1 min read