7 common home insurance claims in South Africa:
Earlier in the month we wrote about some of the considerations of home insurance coverage. Josh Muller and Roger Nicolin, inhouse broker experts, outline the top reasons to re-look your home insurance and ensure that your policies are updated with the correct amount of cover.
- Fire and Smoke Damage: Fires can cause significant destruction, with property insurance covering structural damage and home contents insurance protecting personal belongings.
- Theft and Burglary: As we are all well aware, home robbery and theft are major concerns in South Africa. Home contents insurance covers stolen items, while property insurance covers structural damage during a break-in. Josh reminds us that having a locked Safe as well as an Alarm system with beams are also typically imperative to ensure that you don’t have unnecessary issues or questions at the claims stage.
- Power and Electrical Issues: Josh explains that “load-shedding and power surges can damage electrical appliances. In fact, many insurers have added additional requirements to home insurance policies to mitigates such risks.” Josh also recommends home contents insurance with a power surge benefit to cover these damages, sometimes even compensating for spoiled food during long outages. This provides peace of mind when a longer vacation is taken.
- Lightning and Water Damage: Extreme weather events, like storms and flooding, often lead to damage. Roger reminds us that, “over the past three years, we have seen massive claims in Durban and the surrounding areas for all sorts of storm-related damage. Property and home contents insurance usually cover this, but long-neglected issues may not be covered – and this is where a home visit from one of our TIB brokers can be helpful.”
- Accidental Loss or Damage: Unintentional damage, such as breaking a TV or spilling wine over an expensive carpet, can be covered under property and contents insurance if accidental damage coverage is added.
- Forces of Nature: Natural disasters like hailstorms, floods, and wildfires can destroy homes. Property insurance usually covers these, but certain types of flood damage may be excluded.
- Water Tanks, Pipes, or Geyser Damage: Burst pipes, leaking geysers, or faulty appliances often cause water damage. Property insurance covers structural repairs, while contents insurance covers damage to belongings.
Don’t leave your policies to chance! Make sure you have the most suitable coverage for your home and circumstances before the business of the festive season hits us. Chat to one of our highly experienced TIB brokers today to review your home insurance policies.
