Your Pineapple insurance policy may run month to month, but there’s one date that plays a starring role every year: your Anniversary Date. Think of it as your policy’s “birthday”; a checkpoint where your cover is reviewed and adjusted to keep pace with inflation, costs, and real-world risks.
The Significance of the Anniversary Date
The Anniversary Date falls 12 months after your Cover Start Date.
While your policy renews automatically each month (as long as your premium is paid), this is the point where Pineapple performs a comprehensive review of your policy.
It’s also the moment when any adjustments to your Compensation Limits and premiums are applied.
Annual Premium Adjustments: Staying in Sync with Value
On your policy’s Anniversary Date, Pineapple will automatically adjust:
Compensation Limits for Buildings, Household Contents, and General Items, usually in line with the rate of inflation.
This ensures that if replacing your belongings suddenly costs more (thanks, inflation), your cover doesn’t fall behind.
Example: If inflation is at 6% and your household contents are insured for R300,000, your Compensation Limit may increase to around R318,000 and your premium will also increase to reflect the higher cover.
Why This Matters
Without these updates, your cover could lag behind reality, leaving you underinsured.
Insurance is about restoring your financial position, and restoration only works if the values on your policy are accurate and current.
Your Responsibility
Pineapple’s automatic adjustments handle inflation, but you need to check the numbers, too. It’s your responsibility to make sure that the Compensation Limit represents the full value of your insured items in all Policy Sections at all times.
For Household Contents and General Items especially, it’s your responsibility to ensure the Compensation Limit actually reflects the full replacement value of what you own.
Example: If you buy a new 65” smart TV and never update your contents value, you might end up underinsured.
Regular reviews = fairer cover and smoother claims.
What Happens After a Claim
Compensation Limits usually won’t change immediately after a claim.
But Pineapple may adjust your premiums, either at the next Anniversary Date or, in some cases, from the date of the loss.
Policy terms and conditions can also be amended after a claim, to reflect the updated risk profile.
Key Takeaways
The Anniversary Date is your policy’s annual “reset button.”
Pineapple updates Compensation Limits (and premiums) in line with inflation.
You must ensure your cover truly reflects the replacement value of your stuff.
After claims, premiums, or terms may shift so always review carefully.
Treat your Anniversary Date as a chance to re-check and refresh. You’ll keep your Pineapple policy aligned with reality and avoid the nasty shock of underinsurance when you need it most.
*The information provided here is for informational purposes only. For the full terms and conditions, please consult your policy wording.