The Top 10 Insurance Companies in South Africa 2020


Everyone wants to live a risk-free life, but not everyone is willing or able to pay for one. Insurance is believed to be expensive but come to think of it, you are paying now so you don’t have to pay a huge amount later.

Apart from this, you are also paying to have your mind at rest. With insurance, you don’t have to worry about any risk of accident that can befall you or your insured property.

So, you have been persuaded and you agree to try out insurance. Now, you are wondering what insurance company in South Africa would be of benefit to you. Don’t worry, we have you covered, although we are not an insurance company. We have compiled a list of the top 10 best insurance companies in South Africa.

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Top 10 Insurance Companies in South Africa

1. Santam Insurance

This is one of the top insurance companies in South Africa. They have been offering insurance coverage since they were founded in 1918 and they have business interests in various countries in Africa.

They have established their expertise in different insurance coverage. If your home becomes uninhabitable due to accident, Santam Insurance will cover the storage costs for the moveable objects while the home undergoes repairs.

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2. Liberty Insurance

Founded in 1957, Liberty Insurance has established a presence in about 18 African countries. They offer investment, assets, and health insurance to millions of South Africa. they have a flexible life cover plan you can take out without medical tests.

3. Discovery Insurance

They are one of the top insurance companies in South Africa. they currently have over 5 million customers and they have packages designed to meet the needs and specifications of different budgets. They have been protecting people’s lives and valuables so well and have earned recognition.

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4. 1st For Women Insurance

As the name implies, this insurance company focuses on putting women first. They offer services named to this effect like “Guardian Angel on Call”, and “Handbag Cover”. At the 2017 Ask Afrika Orange Index Awards, they won the award for Service Excellence in the Short-term Insurance Industry. They are currently among the top ten insurance companies in South Africa.

5. King Price Insurance

Don’t panic, they don’t have this name because they have exorbitant prices. King Price aspires to be the king of insurance and this is evident in their very diverse insurance packages. They have insurance policies for everything ranging from car, home, golf clubs, even to mountain bikes.

6. Old Mutual Insurance

This company has over 160 years of operation and experience in the insurance industry. They also have a direct short0term insurance product called iWyze which gives a comprehensive cover for both car and home. They have also found their way to the list of top insurance companies in South Africa.

7. Outsurance Insurance

Sounds weird, right? They also stand out by providing new innovative ways to give the best insurance cover. They have a famous OUTbonus which rewards clients by giving them a cashback with certain terms and conditions. Now you see why the name “Outsurance”.

8. Budget Insurance

Budget insurance another top insurance company in South Africa. They offer plans aimed at covering all aspects of a client’s business including work vehicle, office, and money on the premises. Be it a small newspaper stand to a supermarket; Budget Insurance is tailored for you.

9. Miway Insurance

This insurance company offers a wide range of insurance covers. They offer comprehensive cover, they offer cover for the individual aspect of your business, and your plants and machinery. You can either insure the various aspects of your business individually or under one policy.

10. Affinity Health Insurance

Affinity Insurance offers medical insurance that is considered simple and yet effective. Their insurance cover is targeted at those who can’t seem to afford medical services for themselves. This gallant act has been a peculiar element to Affinity Health Insurance.


Have you seen the relevance of insurance and you are interested in trying it out? Why not go for the best. You have a full list of options to select from. If you have thoughts or comments on the list above, engage us in the comment section.


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