Home insurance is vital if you want to avoid a situation where you home and its contents have fallen victim to theft, or fire or water damage. If you are a home owner in South Africa, you need to consider two types of home insurance.
The first type is home-owner’s insurance, and the second type is household insurance. Home-owner’s insurance is in place to protect the structure of your property and home, including outbuildings and swimming pools, and relates to water and fire damage, and any other unexpected events. The second type is in place to cover all the household items, or the contents of your home.
Certain things can be considered important in order to lower the premiums you pay on a home insurance policy. In the case of household insurance, the area you live in, the security measures in place at your residence (alarm system, security gates, and an armed response contract), the construction of your home (walls and the roof), the number of claim-free years you have had, and the excess you agree to pay when do have a claim, can all affect the premium you pay on your insurance.
Quotes for home insurance can be obtained online where you are able to compare quotes, but it is advisable to contact a specialist in the field to discuss what is going to be the best home insurance policy for you and your specific needs. The South African banks offer home insurance policies, and then there are the other insurance companies to consider. Important to look at the inclusions and exclusions of a policy and not only what it is going to cost you every month. Another tip to remember is to make sure you do not take out home insurance based on the value of your bond. Rather choose cover equivalent to the replacement value of your home.
Get as many quotes as possible and as much advise as possible regarding the most appropriate home insurance policy to make sure you have complete and secure cover for your home.
