Content Insurance - How to make the correct decision

"Your complete guide to everything concerning household contents insurance"

Your home is your haven. Everything that graces the inside of your home, your household contents, is a reflection of who you are. Your home is where you keep everything that you own, all of your worldly possessions that you have gathered from a lifetime of living. And in an instant you can lose it all in a freak act of nature or the negligence of someone else. But having a safety net can minimise the impact.

Have you heard that the world is going through a really rough El Nino period as well as climate change? With the change in weather patterns, the storms are becoming stronger and the possibility of flooding happening in your home or lightning destroying your computer are real possibilities. The damage and destruction that can happen in your home can be total, with your household goods needing replacing. But really, who has the money today to replace their household items? It can take 20 years to build up what you have in your home but only a moment to lose everything.

Take a moment out of your day. Think about this without distractions: how much value does all of your possessions add up to? Think about everything, from your snazzy new TV to your priceless family heirlooms. Can you put a price on the collective value of everything in your home? Can you put value on your hi tech computer?

You see, when we think about getting robbed, we think of the inconvenience, the anger of having our homes invaded or the pain of never being able to replace that meaningful piece of jewellery. What we don’t always think about is the financial loss that we experience when our household contents are stolen.

6 Tips How to Save on Contents Insurance!

  • Pay your premiums annually
  • Maintain Good Credit Score with your insurer
  • Bundle Your Insurance policies under one premium
  • Continuously ask for Discounts
  • Pay a bigger voluntary excess
  • Price Beat Your Insurance Premiums between insurance service providers

Only 12% of South Africans has comprehensive content insurance!

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What does house hold insurance cover?

The cover provided by house hold insurance is able to extend as far as cover for fire damage, accidents, theft and natural disasters. Should the contents in your home, which is covered by the insurance, be damaged, destroyed or stolen you will be able to claim that money back from your insurance. You can cover:

  • Your electronics and household appliances
  • Your curtains and carpeting
  • Your furniture
  • Your tools

The thing is, pretty much anything in your home can be insured. Animals caused damage to your home contents? Your insurance has got your back. Your geyser leaked and destroyed your carpet? Your insurance will pay out. Your computer was hit by lightning? Again your insurance will provide.

Having household contents insurance can provide you with the ultimate amount of protection. But before you buy your home content insurance, you should make a list of all of the contents within your home. Then do your research to find out just how much it will cost to replace each of those items.  What you will see is that the items you have in your home are not the same price today as they were when you bought them. So replacing them on your own, using your own money, is not always a feasible option.

By knowing how much your home contents costs these days you will go a long way in ensuring that you don’t under insure any of your contents. And when working with expert content insurances in South Africa you can be sure that you will be getting the cover that you need the most.

The types of household insurance

Contents insurance is part of home insurance. Your home insurance will consist of two parts, cover for your building and cover for your contents. The cover for your household goods not only covers the damage or destruction that can happen to your items but it also covers any liability. Should someone visiting your home be hurt by something in your home, you will be covered for liability and should a guest break something, you will also be covered.

If you have a lot of valuable things in your home, having household insurance for the contents within your home is a really good idea. You should never have to suffer with the financial implications of an event that is out of your hands, and with insurance for your home contents you will never have to worry again. Household contents insurance is very basic cover but it will make a world of difference when you are in need of the cover that it provides.

What is household insurance for contents?

Basically your household insurance is covering all of those items in your home that you want to give full financial protection in the event of them being stolen or broken. Insurance companies sell this type of insurance alongside home insurance but they can be bought separately.

What does house hold insurance cover?

The cover provided by house hold insurance is able to extend as far as cover for fire damage, accidents, theft and natural disasters. Should the contents in your home, which is covered by the insurance, be damaged, destroyed or stolen you will be able to claim that money back from your insurance. You can cover:

  • Your electronics and household appliances
  • Your curtains and carpeting
  • Your furniture
  • Your tools

 

The thing is, pretty much anything in your home can be insured. Animals caused damage to your home contents? Your insurance has got your back. Your geyser leaked and destroyed your carpet? Your insurance will pay out. Your computer was hit by lightning? Again your insurance will provide. Having household contents insurance can provide you with the ultimate amount of protection. But before you buy your home content insurance, you should make a list of all of the contents within your home. Then do your research to find out just how much it will cost to replace each of those items.  What you will see is that the items you have in your home are not the same price today as they were when you bought them. So replacing them on your own, using your own money, is not always a feasible option.

By knowing how much your home contents costs these days you will go a long way in ensuring that you don’t under insure any of your contents. And when working with expert content insurances in South Africa you can be sure that you will be getting the cover that you need the most.

 

"The types of household insurance"

Contents insurance is part of home insurance. Your home insurance will consist of two parts, cover for your building and cover for your contents. The cover for your household goods not only covers the damage or destruction that can happen to your items but it also covers any liability. Should someone visiting your home be hurt by something in your home, you will be covered for liability and should a guest break something, you will also be covered.

If you have a lot of valuable things in your home, having household insurance for the contents within your home is a really good idea. You should never have to suffer with the financial implications of an event that is out of your hands, and with insurance for your home contents you will never have to worry again. Household contents insurance is very basic cover but it will make a world of difference when you are in need of the cover that it provides.

"The types of Household Insurance and what they include"

 

Just as a car owner has a few options regarding what types of car insurance they can buy, homeowners also have a choice regarding their residence’s insurance policy.

The first question that they have to ask themselves is how much coverage they feel is necessary for their homes and their home’s contents. You need to decide if you need enough to cover your home and your belongings and self-protection to cover you in those cases when you are liable for damaging someone else’s property.

Financial protection of your biggest asset as a homeowner is essential in these uncertain financial times when things can go horribly wrong. And if you are a homeowner who has bought a home using a home loan you are going to need that insurance even more. Imagine you have just bought your first home and it burns to the ground, like Betty from the story above. 

Easy Tips for finding the right homehold insurance

Recently the South Africa Ombudsman of Short-Term insurance supplied South Africans with some very useful tips to be used when insuring household items.

According to Mr Dennis Jooste people are not taking proper stock of what they have in their homes when they are submitting a claim or when they are taking out cover. Because the value of goods fluctuates and the prices of your house hold items changes so often, you need to have an up to date inventory list that will include the value of the items you have in your home.

Here are the guidelines from the Ombudsman that you should follow:

  • Start off by creating an inventory of the items that you have insured. Keep them in a separate insurance file so that they are kept safe (sometimes it is also a good idea to make a copy and keep the copy somewhere off the property). Your list should include where you bought the items and how much you paid for them. Should you need to claim from your insurance for an item in your inventory you will be saving time as your insurer will want to have proof that you owned the item you are claiming for.
  • If you have recently bought something for your home make sure that you keep the receipt, this is especially important if that something you have bought is expensive. You can keep these with your inventory as some insurers will not reimburse your claim if you don’t provide a receipt. If you have many electrical appliances then you should keep a list of their serial numbers in a safe place.

  • Take numerous photographs of the items that you wish to have insured. While you are taking photographs of the items you should also take photographs of the rooms in which the items have been placed. This will provide proof for what exactly was in your home, having a visual record is as important as having a written record. Make sure that you keep these photographs safe.

  • Items that consist of treasured jewellery will sometimes need to be treated a little bit differently. Because your jewellery can be not only very expensive but also unique, your house hold contents insurance might require you to have valuation certificates for each piece of jewellery you keep in your home. It is equally important that you have the jewellery regularly valued.

The more complete and honest your information is, the more chances you have of making successful claims should something happen to your prized possessions.

When is the right time to buy household insurance?

  • In all honesty only you can answer such a question. If you feel as though those items in your home are worth being covered by insurance, you will need to start the processes towards finding the right insurance for your home. If your contents are pricey you should most definitely consider getting insurance for your home contents.

  • You will need to understand that as with almost everything in life there will be a limitation to the coverage that you will have for your contents. You have to make peace with the reality that you might not be able to provide coverage for each and every item in your home and that is why you will need to prioritise with the items that you have in your home. You need to be smart with your home contents insurance and you can start by making sure that you read all of the fine print that you will receive with your policy.

  • Don’t sign up for anything that you are not 100% happy with, rather head off in a new direction and find a few more insurance quotes to compare. What really matters is right there in your contract and once you have signed it you have made an agreement with the insurance company. Best to be sure that they are offering what you need before your make a legally binding agreement.

"What is household insurance for contents? Basically your household insurance is covering all of those items in your home that you want to give full financial protection in the event of them being stolen or broken. Insurance companies sell this type of insurance alongside home insurance but they can be bought separately."


When is it worth claiming on your insurance?

It is a question that you might find yourself asking should you go through the effort of making a claim when a household item has been damaged. You are of course going to feel that you should make that claim, no matter how small the damage is, because this is why you are spending so much money each month on insurance premiums. On the other hand you know that any claim can push up your monthly insurance rates and really if the damage is minimal you could possibly pay for it yourself.

Some experts say that the decision to make a claim or to not make a claim lies with how much damage or destruction you are facing. Even a small claim has the ability to push up your monthly premiums. And occasionally the excess that you have to pay in will mean it is not worth your while to make the claim. The amounts that you are looking at will depend on the amount which the item is insured for and the insurance companies policies regarding claim amounts.

 

Insurance is a big deal, not a luxury but most certainly a necessity. Even the most minimal cover just for the content in your home that is the most expensive or holds the most value to you will be enough to give you peace of mind. Your household items have been worked hard for and they should be included as a part of your home insurance. Insurers have set up such a variety of clauses with each policy they have on offer that finding the right insurance for your purposes is a breeze.

And if you are having trouble finding that all important home insurance to protect your household contents from the tree branch that threatens to fall on your home during every storm, it might be time to hit a website that will allow you to compare insurances. At Insurance Directory we have the ultimate list of insurances for you to browse through, for free. Here you can compare countless insurance companies, gain quotes and increase your knowledge of the various types of insurances that you have available to you.

Let us guide you through the complicated world of insurance and help you find the home insurance, car insurance, business insurance or life insurance that will conveniently fit into your life and your budget.

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Are you ready to save on your home insurance premiums?

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