Devastating Cape Town fire serves as reminder for us to insure our possessions

The devastating fire that completely destroyed the University of Cape Town’s (UCT’s) Jagger Library which housed the institution’s African Studies collection serves as reminder to us all that we must insure our possessions. This is according to Old Mutual Insure Spokesperson, Christelle Coleman who tells the Business Hour that so far, the insurance company has only received about five claims from Cape Town residents, mainly for damage to vehicles etc. Coleman says the one thing the insurance company has noticed is that South Africans either do not have any insurance at all or they are severely under insured, which becomes problematic, in such an instance. She stresses that insurance helps claimants rebuild their lives following a tragedy like this one.