It goes without saying that all prudent homeowners (landlords included) should have some form of insurance against their home.
At Sacos, homeowners have the choice between two options – the Householder Policy and the Fire Only Policy. Today, we lay out why the Householder Policy is the better option.
1. It is more comprehensive
In addition to providing cover against loss or damage caused byfire, lightning and explosion, the Householder Policy provides a more comprehensive cover against loss or damage caused by other types of perils, including:
- Storm, tempest and flood
- Aircraft and other aerial device dropped therefrom
- Bursting or overflowing of watertanks, apparatus or pipes
- Burglary, housebreaking, theft or larceny
- Impact by any vehicle or animal
- Malicious damage
- Accidental breakage of fixed glass or sanitary fixtures forming part of the building
- Accidental damage to supply pipes and cables
- Loss of income on rented buildings
- Alternative accommodation
2. Building and Content OR Building or Content?
The Householder Policy is flexible in nature. The homeowner can make a choice between taking out a Building cover, a Content cover or both. The Building cover will provide cover against the building only such as walls, floors, roofs and even certain fixtures and fittings.
The content cover will provide cover against personal items of the household. Many tenants do not realise that they too can take out a home insurance as it protects their assets. Most of the perils mentioned under 1. also apply to the Content cover. In addition, it also applies to accidental breakage of mirror.
The sensible homeowner takes both covers if they reside in their own home.
3. Legal liability to the public
Although rare but not unheard of, home owners (and even tenants) can be liable to injuries caused to others, accidental loss or damage to property which occur within or on their property. In these instances, the policy covers legal defence and damage, not exceeding the amount agreed upon in the schedule of the insurance contract.
4. Jewellery, Fur and Personal Effects
The policy provides a specific cover for special tems in the household which includes, jewellery, fur and personal effects. The cover provides compensation (limited to the sum insured) against physical loss or damage from any cause, except those listed in the the insurance contract.
Disclaimer: All covers included above are subject to specific exclusions, as well as to the General Conditions and Exclusions of the insurance contract signed by the policyholder.
To find out more about the Householder Insurance, call us on 429 5000 or send an email to info@sacos.sc.
