Why do you need Homeowner's Comprehensive Insurance?
A home is the most precious asset that a person possesses. A total loss of your property, as a result of unforeseen incidents, could result in you no longer being able to live in your home, possibly leaving you in financial distress. Homeowner's Comprehensive (HOC) Insurance provides cover against sudden and unforeseen events. HOC covers the structure of your residential home, its permanent fixtures and fittings.
Home insurance is compulsory if your home is financed through a home loan. Even if your home is not financed, you don’t want to be uninsured when unforeseen events happen.
More details about our Homeowner’s Comprehensive Insurance
Things to remember
As a homeowner, you are required to keep your home in good condition by doing regular maintenance such as clearing leaves, vegetation and debris from your gutters and house valleys.
Our policy documents give you all your terms and conditions, provide examples and clear explainations of some of the insurance terminology that you need to know.
The policy is intended to protect you against sudden and unforeseen events. Therefore, a claim will not be considered if:
- The loss or damage is a direct result of the property not being adequately maintained.
- The damage is due to wear and tear.
- Damage due to gradual deterioration.
Your insurance policy requires the sum insured to be equal to the full replacement value of your property, its permanent fixtures and fittings, to provide full cover in the event of a loss. It is your responsibility to ensure that the insurer has been provided with the correct replacement value.