Get your most prized assets protected. The three most important things to protect are your family, your property and your belongings. Unforeseen events can and do happen, but with the right insurance you will be protected. Read on and find out what insurance you need.
Insurance products you need as a homeowner
We have insurance products to suite all your needs.
Protects your family in the event that something happens to you and you can no longer repay your home loan.
What it covers:
- Death (natural or accidental death).
- Permanent or temporary disability.
- Terminal illness (should you be diagnosed with this)
Some home loans require that you to take up a life insurance policy.
Homeowners comprehensive insurance
Protects the structure of your property and its permanent fixtures and fittings.
What it covers:
- Damage or loss caused by storms, floods, fire, explosion, earthquakes, bursting or overflowing geyser/s, malicious damage and break- ins.
- Damage caused by vehicles and falling trees..
- Rent you would lose should your tenant move out because of an event that’s covered by the policy
Homeowner’s insurance is often required for a home loan except for Sectional Titles.
Home contents insurance
Protects all your belongings in your house.
What it covers:
- Personal belongings.
- Damage or loss caused by fire, power surges, explosions, storms, bursting or overflowing geysers, theft or malicious damage
- Theft of garden furniture and/or washing
- Loss or damage to your domestic worker’s or a guest’s belongings because of a break- in.
Tips for you to keep top of mind
- Know what your policy covers and what it doesn’t. So, take the time to read through your policy document thoroughly.
- It’s your responsibility to ensure that you give your insurer the correct replacement value of all your property and fixtures. Use our online cost replacement calculator to easily work out the replacement value.
- You could save costs if your homeowner’s insurance is linked to your home loan.
- As time goes by the value of your property and possessions will likely increase as the cost of living goes up. An insurer will usually make changes to your sum insured to cater for these changes. You want to be sure that your insurance always covers the value of your property and possessions.
- Perhaps you have bought a new TV or kitchen appliances or made changes and extensions to your home that increased its value? They might not be covered under your existing contents or Homeowner policy - so always remember to contact your insurer and update your policy as soon as possible to make sure you are fully protected.
Insurance is a necessity
Your insurance helps protect the people and the belongings that are important to you. It covers you against unexpected events and gives you peace of mind. Having all your cover in one place could be cheaper and is always easier.
So be sure your insurance covers all your needs and offers you the assistance you might need to enjoy your home, your possessions and most importantly, your life!
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Battling to make home loan repayments: firstname.lastname@example.org
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Life insurance: firstname.lastname@example.org