When I first met Lerato, a friend of mine who runs a small coffee shop in Johannesburg, she laughed when I asked her if she had proper insurance for her business. “I barely survive load shedding and staff schedules,” she said, “insurance feels like a luxury.” I didn’t argue, because I’ve heard that same response from so many women running their own ventures. Yet, as the months went by, she faced a minor flood in her shop after a storm. Suddenly, the idea of having business cover wasn’t just an optional extra—it was the difference between closing her doors for good and keeping her dream alive.
That story captures the heart of why insurance for female entrepreneurs matters in South Africa. And this is where 1st for Women Insurance positions itself—not just as another insurer, but as one that understands the layered realities women face when running their own businesses. But let’s pause before we paint them as saviors. Insurance companies, after all, are still businesses. Their products need to be scrutinized, their promises weighed against real-world conditions.
The Landscape of Female Entrepreneurship in South Africa
Before unpacking 1st for Women’s offerings, it helps to take stock of the environment. South Africa has one of the highest rates of female entrepreneurship in sub-Saharan Africa, though not always for the reasons you might expect. Many women turn to business ownership not because it’s glamorous, but because formal employment opportunities are limited. Running a small salon, a catering company, or even a side hustle selling clothing can be a way to support families when corporate doors stay closed.
Yet female-owned businesses tend to be more vulnerable. Studies suggest that women are less likely to access formal financing, less likely to have extensive business networks, and more likely to juggle caregiving responsibilities alongside work. That cocktail of pressures makes them uniquely exposed to risk. A single uninsured disaster—a stolen delivery van, a fire in a small warehouse, even damage to stock during transport—can undo years of effort.
So, insurance doesn’t just become a bureaucratic checkbox. It becomes a cushion, a survival mechanism.
What 1st for Women Brings to the Table
1st for Women Insurance brands itself as understanding women’s needs, offering products tailored to the realities of women’s lives. For entrepreneurs, that can mean:
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Business vehicle cover: Think of a florist who depends on her van to deliver arrangements for weddings and funerals. If that van is hijacked or damaged, the whole chain of income collapses. Vehicle cover here is less about convenience and more about staying afloat.
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Office or shop cover: From small boutique spaces to home offices, policies can cover theft, fire, and even accidental damage.
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Liability insurance: Let’s say a client slips on a wet floor in a boutique. Liability cover can prevent that accident from spiraling into crippling financial strain.
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Portable possessions: Laptops, tablets, and mobile card machines—tools that keep businesses running—can be covered against loss or theft.
On the surface, these products don’t look radically different from what any other insurer might offer. The difference, at least in theory, is the framing. 1st for Women positions these not as generic products but as safety nets designed with women in mind.
Now, does marketing really make them unique? That’s debatable. Some critics may say the policies themselves aren’t drastically different from competitors, just packaged in a way that resonates with women’s branding. Still, perception matters. Many female entrepreneurs I’ve spoken with say they appreciate being addressed directly rather than as an afterthought in a male-centric market.
Balancing Caregiving and Business Risk
A subtle point often missed in discussions of insurance for female entrepreneurs is the double burden of caregiving. A woman running a catering business in Pretoria, for example, may also be the one picking up kids from school, caring for an elderly parent, or managing household responsibilities. That means downtime after an accident or business interruption isn’t just lost income—it can ripple into family survival.
Here’s where insurance becomes more than a business buffer. It’s a family lifeline. And 1st for Women, at least in its messaging, acknowledges this. Their campaigns often highlight empowerment not just in the boardroom but in the household, recognizing that the two worlds overlap.
That said, not everyone buys the idea that an insurer can “empower” women. Insurance doesn’t dismantle structural inequality, it doesn’t erase gender pay gaps, and it doesn’t solve access-to-finance barriers. What it can do—when used wisely—is shield against sudden, devastating setbacks. It’s one piece of a much larger puzzle.
A Personal Reflection
I’ll admit, when I started freelancing years ago, I didn’t bother with insurance either. I thought, “Who would even want to steal my beat-up laptop?” Until one day, on a train ride, my bag disappeared. Replacing my laptop, hard drive, and phone in one blow felt like being set back six months. No insurance payout was waiting. It was a painful but eye-opening lesson.
Female entrepreneurs often tell me similar stories, though on a larger scale. A stolen sewing machine in a small dressmaking business isn’t just a tool gone—it’s contracts missed, clients disappointed, and reputations damaged. Insurance won’t undo the stress, but it can replace the machine and give the business owner a fighting chance.
Critiques and Cautions
It’s tempting to treat 1st for Women’s model as flawless, but no insurance conversation should be that simple. There are caveats:
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Premiums can be steep: Small businesses with razor-thin margins may find monthly payments hard to justify.
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Exclusions exist: Not every risk is covered, and policyholders sometimes discover this the hard way. For instance, certain types of damage or loss may require add-ons.
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Claims can be stressful: As with any insurer, getting a payout may involve paperwork, assessments, and delays. Entrepreneurs who need cash flow urgently may find this frustrating.
Acknowledging these realities is crucial, because it prevents the conversation from slipping into glossy brochure territory. Insurance is valuable, but only when women go into it clear-eyed, asking the right questions and choosing policies that align with their actual risks.
Building a Culture of Preparedness
Insurance, on its own, won’t make South African female entrepreneurs thrive. But combined with financial literacy, mentorship networks, and supportive policies, it plays a part in creating resilience. A female entrepreneur with proper cover may recover faster from theft or disaster, allowing her to stay in the game while others fold. That continuity builds confidence, which, in turn, strengthens the broader entrepreneurial ecosystem.
Interestingly, some argue that the very act of buying insurance is symbolic. It signals that a woman sees her business as legitimate, worth protecting, and built to last. In that sense, it’s less about the paperwork and more about the mindset.
Final Thoughts
When I think back to Lerato’s coffee shop, I wonder how many other women out there are running on sheer grit without any backup plan. South African female entrepreneurs are, in many ways, the backbone of community-level economies. They are hairdressers, bakers, tech founders, wedding planners, and retailers. Their businesses put food on tables, employ neighbors, and build local pride.
Insurance from companies like 1st for Women isn’t a silver bullet. It won’t solve load shedding, bridge capital gaps, or erase the extra weight women carry at home. But it may keep a single bad day from wiping out years of hard work. That alone makes it worth serious consideration.
So, whether you’re running a side hustle from your garage or managing a growing company with a team of ten, it’s worth asking yourself: if disaster struck tomorrow, would you be able to rebuild? If the answer makes you pause, maybe it’s time to do what Lerato eventually did—sit down with an insurer, sift through the fine print, and invest in a safety net. Not because it’s glamorous, but because your dream deserves protection.