Understand what your Business Cover includes

Your plan may combine three types of protection: iKhokha Device Cover, Stock, Equipment and Building Cover, and Personal Accident Cover. Your Policy Schedule sets the limits, insured items and people that apply to your cover.

iKhokha Device Cover

Device Cover protects insured iKhokha card devices against accidental and unforeseen physical loss or damage in South Africa. This can include theft, loss and liquid damage, subject to the policy conditions, limits and exclusions.

The insured iKhokha card device must be less than two years old when the policy starts, and you may need to prove its age when you claim. When you apply for cover, the device make, model and IMEI number are automatically inserted using the device information held on your iKhokha profile.

If a claim is accepted, the device may be repaired and restored to its original working condition or replaced with the same make and model, or a similar device with equivalent functionality.

Stock, Equipment and Building Cover

This cover protects stock, equipment and buildings against accidental physical damage caused by specified events such as fire, storms, lightning, explosions, wind, hail, snow and water damage.

The cover has a maximum overall limit for a single claim across stock, equipment and buildings. Once a claim has been assessed and validated, a lump-sum payment can be made up to the insured value stated in your cover.

Stock and equipment must be kept at a single secure risk address in a brick-and-mortar building with lockable doors and secure windows. Up to 20% of the overall limit can apply to offsite stock while you trade at recognised small-business markets, such as farmers or craft markets. Up to 20% of the overall limit can also apply to building damage caused by sudden and unforeseen events.

Personal Accident Cover

Personal Accident Cover can help with injury expenses after an accident and can provide a lump-sum benefit if an accident causes death or permanent total disability. Depending on the level of cover selected, it can apply to the policyholder and up to nine staff members.

The accident can happen at any time and in any location, not only at the business address. A valid death or permanent total disability benefit is paid according to the insured amount in your policy.

Your plan sets the limits

The plan you select determines details such as the number of insured devices, the stock, equipment and building limits, and the people or benefits included under Personal Accident Cover.

Check your Policy Schedule for the insured items, limits and covered lives. For waiting periods, excesses and exclusions, see Understand waiting periods, excesses and exclusions.

Your policy and who manages it

Who provides and administers the cover?

iKhokha is an authorised juristic representative and distributor of Aspis (Pty) Ltd, registration number 2011/005416/07. Aspis is an authorised Financial Services Provider, FSP 48407. An FSP is licensed by the Financial Sector Conduct Authority (FSCA) to provide financial services to the public.

Aspis supports the product's compliance with financial-services requirements and can give authorised advice about the insurance products and the terms of your Policy Schedule.

Auto & General Insurance Company Limited underwrites the insurance products offered by iKhokha. Auto & General is an international insurance group established in 1985 and operates in countries including South Africa, Australia and parts of Europe. As the underwriter, it assesses insurance risk, the premium for that risk, and the terms and conditions under which the policyholder is covered.

Monitor Administrators handles policy and claims administration on behalf of the insurer.

Find and read your policy documents

To read the policy information for your iKhokha profile, sign in to the iK Dashboard and open Business Cover.

Your policy information includes:

• Policy Schedule: customised information about the cover you selected;

• Policy wording: the full details of what is included and excluded; and

• Disclosure notice: contact details for the broker, administrator and insurer.

Your Policy Schedule and policy wording set the cover that applies to you. You can also read the full Business Cover policy wording.

How you are kept informed

You may receive communication from Aspis or Monitor Administrators about:

• the start of your policy;

• claims;

• changes to the policy terms and conditions;

• changes to the benefits or premiums you pay;

• the scheme under which your cover is provided being terminated; or

• the policy being cancelled because of actions such as missed payments or providing false information.

How your information is used

Your personal information may be used by iKhokha and the insurance parties, including the broker, administrator and insurer, to provide insurance services. This can include providing advice, products and services, assessing financial and insurance risk, and processing claims and complaints.

Your information may also be used to develop and improve services and products, carry out credit referencing and verification of personal details, prevent and detect fraud, complete audits and record keeping, and meet legal or regulatory requirements. Where there is a legitimate reason, such as fraud prevention or claim validation, insurance and claims information may also be shared with other insurers and industry bodies.

You can request access to the personal information held about you, ask for incorrect information to be changed, or request deletion where there is no valid reason for the information to be kept. If you believe your information is being processed unlawfully, you can complain to the Information Regulator.

Read the Business Cover data-sharing policy for the full explanation.