Many people are still not sure about the difference between homeowners insurance and insuring household contents. Homeowners insurance protects you against loss or damage to all the buildings that make up your home. But household contents insurance is for everything under your roof.
When you look at some of the super luxury items people have in their homes today, it can be concerning. There are crooks just dying to get their hands on your crystal chandeliers,64” TVs and other luxury items. They may even have their eyes on your priceless heirlooms.
Insuring Household Contents – Check out your Anti-Theft Devices
Home contents insurance is designed to cover all these household goods against theft but also loss or damage caused by the likes of storm damage or fire damage. When looking at insuring your home’s contents, the insurance provider will investigate some aspects of your home, such as whether it has anti-theft devices in place. This kind of factor will determine what premium you should pay.
When you do your research, you’ll find that most household contents insurance will cover your items from the following risks:
- Theft – we’re all very familiar with this in South Africa, and this cover is for loss and even damage to your goods after a forced entry.
- Natural disasters – thunderstorms, lightning, hail, wind, tornado and earthquake damage, will be covered.
- Fire and explosions.
- Impact by falling trees, animals or aircraft damage.
In South Africa, you can even get household contents insurance against the frequent power surges we experience from power failures. Make sure you get an automatic annual inflation-linked adjustment to your insurance so that your contents are never under-insured.
Insuring Household Contents – Do Your Research
Do research because there are household content insurers who provide customers with additional value-added benefits such as, among others.
Have you taken the time to consider the value of what’s all inside your home? Apart from your television sets, ovens, refrigerator and furniture, there are all those smaller items too such as wine racks and wine bottle, not to mention DVDs. One single box set can cost as much as R5 000 and even more.
When you start insuring the contents of your home, make sure you take into account the replacement value. People who cover their home contents for less than the replacement cost won’t get what they should when they do try to claim.
Conclusion About Insuring Household Contents
Don’t make the mistake of thinking that if you’ve got homeowners insurance, then you automatically have insurance for the contents of your home as well. Not at all. You need home contents insurance. If you require more details about insurance for your home, Old Mutual have all the answers, after all, they’ve been around since they started out in Cape Town in 1845.
Or get a FREE household insurance quote by completing the form on this page. Just click to send.