Understanding the hidden dangers of “underinsurance”

When did you last check if your assets are insured for the right value? Here’s why you should!

When it comes to insurance claims, the small details can make all the difference. In episode three of our four-part On The Money series in partnership with Old Mutual Insure, Mpumelelo Mashinini, Regional Development Manager for Commercial Insurance, joins Old Mutual’s Financial Education Programme Manager, Thabo Hollo, to unpack some of the hidden risks that many policyholders overlook. From making sure your home, vehicles, personal or business assets are insured for the correct value to reviewing your cover as circumstances change, Mpumelelo explains why keeping your information up to date is essential if you want your claim to reflect the real value of what you’ve lost. It’s a practical conversation about understanding your policy, staying aligned with current market values, and avoiding unpleasant surprises when it’s time to claim. On the Money is Old Mutual’s financial education podcast, where public figures and everyday people share their real stories about money – the good, the bad, and the unexpected.

Understanding the hidden dangers of “underinsurance”

You’ve probably heard of the term “underinsurance”, but what does it actually mean – and why does it matter so much? In the final episode of our four-part On The Money series with Old Mutual Insure, Regional Development Manager for Commercial Insurance Mpumelelo Mashinini joins Old Mutual’s Financial Education Programme Manager, Thabo Hollo, to unpack one of the most common and misunderstood risks in insurance. Underinsurance happens when assets are insured for less than their true value. It can seem harmless at first – and in some cases it may even lower your premium – but it can create a serious shortfall when it’s time to claim. Through practical examples and simple explanations, Mpumelelo and Thabo explore why keeping the value of your assets up to date is crucial, and how regularly reviewing your insurance can help you avoid unpleasant surprises when you need to claim. On the Money is Old Mutual’s financial education podcast, where public figures and everyday people share their real stories about money – the good, the bad, and the unexpected.

Is theft by family or employees covered by your insurance? Our latest episode investigates.

Insurance is designed to protect you against the unexpected. But what happens when the risk isn’t a stranger breaking in, but someone you know and trust? In episode one of our four-part On the Money series in partnership with Old Mutual Insure, Sales Manager Luke Abrahams joins Old Mutual’s Financial Education Programme Manager, Thabo Hollo, to unpack a complex but very real scenario faced by many South Africans. From theft by a family member living at home to losses caused by a sticky-fingered employee in your business, Luke explains how short-term insurance policies typically respond, where general exclusions apply, and why understanding the difference between the unforeseen and the foreseeable matters. It’s a practical conversation about expectations, responsibility, and understanding what your policy really covers before you need to claim.

What is business interruption cover, and could your company survive without it?

If your business was unexpectedly brought to a halt tomorrow, would it survive the financial impact? In episode two of our four-part On the Money series in partnership with Old Mutual Insure, Schaun van den Berg, Executive: Alternative Channel Solutions for Old Mutual Insure, joins Old Mutual’s Financial Education Programme Manager, Thabo Hollo, to unpack what business interruption cover is and why it’s so important for South African businesses – especially SMMEs. From fires and forced shutdowns to unexpected events that prevent you from operating, Schaun explains how interruption cover can help protect lost income, safeguard salaries, and support the long-term sustainability of your company while you get back on your feet. It’s a practical conversation about continuity, consequences, and making sure your business can keep moving – even when the unexpected happens.

Moloko Mongalo on how childhood experiences shaped his views on managing money

Our experiences with money growing up can influence how we think about and manage it for the rest of our lives – often without us even realising it. In this episode of On the Money, renowned businessman Moloko Mongalo joins Old Mutual’s Financial Education Programme Manager, Thabo Hollo, to reflect on how his childhood experiences shaped the way he built his businesses and how he approaches spending, saving, and investing today. Moloko reflects on growing up around debt, public humiliation, and financial loss, and how those early experiences became a defining force in his outlook on finances.  Don’t miss this open and honest look at how your past can influence your financial future – and how understanding those influences can turn negative experiences from the past into tools to build a brighter future. Thanks for listening! Interested in getting more financial education? Visit our website for free resources. You can follow us on X, Facebook, Instagram, TikTok, and YouTube.