Your home is your biggest investment (even if you rent) and you probably pay more each month on that than on anything else.

1. Renters need coverage too

If you rent, there is no coverage at all for your personal property unless you take out an insurance policy. That could mean losing everything with no compensation.

 2. You’re covered away from home

Your home contents policy covers your personal property everywhere you go, so if you get robbed on vacation, you are still covered.  Before you go on holiday, check with your insurer that you have the right cover for items you take with you on holiday such as clothes, camping gear and sports goods.

 3. Home insurance includes liability coverage

This is one of the most important things to have in today’s litigious society. It will protect you if you find yourself facing a negligence lawsuit.  Your home insurance cover can also give you access to legal advice so you can speak to a qualified lawyer when required.

4. Your lender requires it

Although it’s not legally required (like auto insurance), your lender will require you to protect the home they have invested in with a home insurance policy. If you don’t, they’ll obtain one for you – which could cost more than if you had taken one out through your insurer.

5. Home insurance is based on reconstruction cost, not market value

You don’t pay insurance on the market value of your home, because that value includes the land that your home is on which will not need to be included in the cost to rebuild your home.

Do you have the right cover for your home and household goods?  We pride ourselves on the professional advice we provide to our clients.  Speak to Indwe Risk Services today or visit www.indwerisk.co.za for more information.