MAKE
HAPPEN
INTRODUCTION
4
HOMEOWNER’S
INSURANCE
5
HOME CONTENTS
INSURANCE
6
AN INTRODUCTION
TO INSURANCE
There is a multitude of insurance policies available to you to cover almost anything imaginable.
While it’s important to cover you, your family and your assets, it can sometimes be hard to
determine which policies are actually essential to take out.
Some insurance protects your possessions, your income, or even provides for loved ones when
you’re gone, but which ones do you really need? This guide, the first in our series of eguides, sheds
some light on three of the most important insurance policies to have.
HOMEOWNER’S
INSURANCE
What does it cover?
Homeowner’s insurance will cover the structure of your home and property against any
of those unforeseen events that may happen, such as flooding, fire or lightning damage,
which can be pricey to pay for out of your own pocket if you’re not insured.
Here are some of the items it covers:
Geyser
Gate
motors
Fixed TV
aerials or
satellite
dishes
Boundary
wall or
fencing
cupboards and
Built-in
wall-to-wall
carpets
Security
systems
Swimming
pool and
pump
HOMEOWNER’S
INSURANCE (CONTINUED)
What to look for when buying a home
When looking at a home to purchase, you shouldn’t only think about how it makes you feel, you need to evaluate the workmanship too. It’s important to know what you’re in for if you’re purchasing the property, or whether you should purchase it at all.
Evaluation checklist:
Check the bathrooms for mould on the ceiling and around the bath.
Look out for deep cracks that appear on both sides of the wall or around doors and window frames, which could indicate severe structural problems.
Check the roof lines for any deformation, which can be a sign of structural failure.
Make sure water pipes drain water away from the
house to avoid damage to the foundation. Check that the pool pump and other pool equipment are in good working condition. Look out for water damage or rising damp, indicated
HOME CONTENTS
INSURANCE
The possessions in your home not only serve a functional purpose, they may mean more
than that to you and so you should protect the things you value.
Home contents insurance makes provision for these occurrences so you don’t ever have to be without the things that
make your house a home. In the unfortunate
event that your home is burgled or your valuables
are damaged due to fire, or perhaps if expensive electronic devices break, would you be able to afford
HOME CONTENTS
INSURANCE (CONTINUED)
What does it cover? Choosing the appropriate level of cover to suit you means that you can
opt for a basic cover option or select more comprehensive cover that may offer added benefits
such as covering the cost of data recovery if your computer crashed.
The important thing is to make sure that your valuable possessions are insured if you know that you would struggle to replace them on your own.
Items covered by home contents insurance include:
• Furniture
• Important documents
• Loose carpets
• Data recovery
HOME CONTENTS INSURANCE
ALL-RISKS COVER
As an added benefit to home contents insurance, all-risks cover protects those items that
you take out of your home as well.
All-risks cover protects some of the following items:
While home contents insurance acts as a safety net to protect some of the most expensive things in your home as well as those things you take out of it, it’s also there to protect what you value most, whether it’s jewellery, a kitchen appliance or a teddy bear.
• Sunglasses
• Clothing
• Briefcase • Laptop
• Handbag • Cameras
HOME CONTENTS INSURANCE
NOTES
Don’t leave anything out of your home contents cover.
Your mobility and independence is important and having your own vehicle provides you with
that privilege. If something were to happen to your car, such as being involved in an accident
or if it was stolen, losing that independence would be a difficult adjustment to make. Footing
the repair bill or replacing your vehicle is not an expense most people can easily afford, which
makes motor insurance essential to have if you’re a vehicle owner.
Depending on the amount of cover you opt to take out on your car, motor insurance often provides benefits beyond just covering accident damage or vehicle theft.
Added benefits such as covering the cost of breakdowns or emergency repairs, roadside assistance, or even replacing keys and locks, may apply, which means you have the peace of mind that you and your wheels are always protected.
MOTOR
MOTOR
INSURANCE (CONTINUED)
What to look for when buying a car
When purchasing a used car, make sure you evaluate the physical condition of the vehicle to ensure your safety and avoid expensive repairs once you’ve taken ownership of the vehicle.
Car evaluation checklist:
Check the condition of the tyres and ensure they have at least 3 mm tread (including the spare).
Check for sludge on the underside of the oil filler cap, which could indicate a poor servicing history.
Ensure all windscreen wipers and washers work correctly.
Is the jack and other tools present?
Do a test drive and be aware of any warning lights that appear, strange noises when braking, steering vibration or if the car pulls to one side.
Inspect the seat belts to check that they operate correctly and are not cut or frayed.
If airbags are fitted, check if any warning lights go on when you turn the ignition and look up what it means in the handbook.
UNDERSTANDING
THE EXCESS
When you make a claim against your insurance policy, you will pay an excess, which is the
amount that you contribute towards the loss or damage of the insured item. The excess covers
the first portion of the repair or replacement cost, the remainder of which is paid by your
insurance policy.
Your excess is usually a fixed amount. If our total claim amount is less than the value of your excess, you will cover the total claim and your insurance will not have to cover any costs. For instance, if your excess rate is R2 000 and the value of your claim is R10 000, then your insurance will cover R8 000 of that claim. If your claim is R2 000 or less, your insurance will not contribute anything, as the claim is too small.
It’s important to insure things such as your car, home and home contents, but make sure that the excess agreed on in your insurance policy is an amount you will be able to
