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Article by Ntando Thusi

House Insurance commonly called homeowner’s Insurance is a kind of Insurance that covers private Homes. it combines different personal insurance protection. which include losses occurring to one’s home. It also covers as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory. It mostly admire that at least one of the named insureds occupies the home. The cost of homeowner insurance depends on what it would cost to replace the house and additional items to be insured.Different Types Of House Insurance Companies in South Africa

Dial direct : Dial Directs simple, smart Home Contents insurance makes sure you can replace most of those items should anything happen to them ‘ at today’s prices. For example, if you bought a top of the range TV for R5 000 six years ago, you probably insured it for R5 000, however at today’s prices, a TV of the same caliber would probably cost about R10 000. If something happened to that TV and you submitted a claim without updating its replacement value, you would only be paid out the R5 000 insured value. Mi way Home Insurance : Mi Way Buildings Insurance product covers the permanent structures on your property as well as all permanent fixtures, fittings and improvements to your property. Buildings Insurance will cover your borehole and swimming pool pumps, gate motor as well as underground pipes and cables. Standard Bank : A comprehensive homeowner’s insurance policy protects your home from the risk of structural damage, including fire damage, storm damage or a burst geyser. Standard Bank Insurance Limited comprehensive insurance policy provides hassle free, reliable cover with excellent value-added benefits. OutSurance : We’ll cover your household contents against theft, intentional damage to your valuables, as well as damage caused by a power surge or a burst geyser. Even damage to your contents due to fire, lightning storm, hail and flood is covered. We’ll apply an automatic annual inflation-linked adjustment to ensure that your contents won’t be under-insured. Our standard household insurance package also takes care of personal liability which covers you if your domestic worker gets injured while on duty or where you may be held responsible for causing death or injury to someone else or damage to their property. Don’t forget to add our OUT-and-About product where you’ll receive cover for items you take or use outside your house. To insure the structure of your building or any permanent fixtures or fittings, read more about our buildings insurance product. I Hound: covers physical damage to a person’s property. When taking out a bond, the financial institution will only approve the mortgage if house insurance has been taken out. House insurance will cover the insured against damage caused by fire, flood, earthquake and much more. House insurance policies will usually have additional benefits for the policy holder such as cover for accommodation costs for the duration of rebuilding or repairs to their property. This will alleviate some of the severe stress experienced in situations where a person’s home is severely damaged or completely destroyed. Due to there being a much lower risk of claiming from a house insurance policy, the premiums are generally lower. Factors that influence your risk profile include whether you have a thatched roof, live near a river or dam and geological considerations. House insurance policies usually do not cover damage due to political unrest, civil disturbance or war.

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