Insurance South Africa
If you want
to insure the building of your private residence, outbuildings, swimming
pool etc. against fire, lightning, explosion, earthquake, water, wind,
storm damage etc, you need homeowners insurance cover.
When you have
a bond on your home, the bank will require that insure the building on a
homeowners insurance policy for the duration of the bond term.
insurance policies provides cover for more that just the walls and
roof of your home. Cover for broken windows, geysers, bursting of
water tanks and pipes (including the damage to it), malicious damage
etc. are usually included. Premiums are
based on the area you live in, construction of the roof and walls
(non-standard walls and thatched roofs increases the risk and premium),
the value of your home and the excess you agree to pay when you claim.
Ask the following questions
when you compare insurance quotes:
included and excluded in the policy.
benefits offered by the product or company.
excess amount you have to pay when you claim.
insurer guarantee your premium (e.g. 12 months).
any future premium increases planned.
of the company for paying claims.
Insure buildings and
contents for a more comprehensive cover.
Glossary of insurance terms
Short term insurance companies
Insurance Brokers (by
Ombudsman for short term
Hints & Tips
Homeowners Insurance Quotes: