There are fears that claims could rise as heavy summer rains and floods could cause more damage. There are also concerns that short-term insurers might hike premiums to make up for losses.
"We've received close to 2‚000 claims for hail damage to cars and homes in Gauteng primarily in the East Rand. There are almost 400 claims for storm damage in Port Elizabeth‚" Santam said this week.
"The total estimated value is R35m. We are working with our clients to effect assessments and repairs and process claims‚" it said.
Brand Pretorius‚ chief executive of Momentum Short-Term Insurance‚ said his company's claims' volumes on Monday were triple the normal daily average‚ making it one of the busiest days in the company's history.
Pretorius said Momentum guaranteed premiums for 12 months and would not immediately implement an increase.
"We will take these claims into account when considering premium adjustments as part of our normal policy renewal and re-rate process ‚" Pretorius said.
Bradley Du Chenne‚ senior executive of Dial Direct said his company had received over 3‚302 motor and non-motor claims within 12 hours of the severe storm in Gauteng, with more claims coming through.
Anton Ossip‚ chief executive of Discovery Insure said it was too early to comment on claims and the effect on premiums but the company had put processes in place to assist its clients.
Du Chenne said that in the Eastern Cape the floods had caused millions of rands worth of damage‚ especially in the buildings and home contents insurance categories.
Jacques Pretorius‚ managing director of Absa idirect‚ said the heavy summer rains were expected to drive up the number of car insurance claims.
"Rain and floods usually have an impact on driver ability and increase the potential for accidents while damage resulting from poor road conditions such as potholes also increases during these periods‚" Pretorius said.
"For the South African short-term insurance sector‚ the rainy season often results in a rise in the number of claims. Research and trends have shown that car insurance claims tend to increase by between 5% and 10% during the summer months. Most vehicle claims relate to accidents‚" he said.
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