Insurance, a legal contract, has been advertised as a commodity lately, like the utensils we use in the kitchen. Even the conclusion period of an important contract is measured in minutes, with no regard to the details of the contract conditions.

Consumers need to be aware of and understand the specific warranty clauses in their insurance policies, particularly those related to valuables such as jewellery. These clauses often have strict requirements, such as keeping items in a locked safe when not being worn, and failure to comply can result in a reduced claim payout, says the Office of the FAIS Ombud.