Ensure your home insurance covers the contents before you go on holiday

With the Easter break just around the corner, many South Africans are preparing to head out on well-deserved getaways. But before you pack your bags and lock up, have you checked whether your household insurance is up to date and covers your belongings while you’re away?

In light of the wave of house robberies and burglaries across the country, reviewing and updating your household contents insurance is more important than ever. Criminals often take advantage of holidays to target homes that are left empty or have fewer occupants.

Dr Hardy Ncube, head of personal products at Standard Bank Insurance, urges families to include “review home contents policy” on their vacation prep list.

“While your homeowner’s insurance may protect the physical structure of your property in the event of a disaster, it doesn’t necessarily cover what’s inside,” Ncube said. “It’s a common mistake to assume that having insurance automatically means your belongings are protected. That’s why it’s essential to ensure your home contents are specifically included in your policy.”

Taking a few minutes now to review your coverage could save you from significant financial loss and stress later.

“I would recommend that you get advice from your broker or your insurer. Should you need extra cover, make sure to arrange this before you leave for your holiday, Ncube added.

While insurance can give one peace of mind, the best-case scenario is not having to come back from your holiday to find your home broken into or damaged and having to file a claim.  

Sharon Paterson, CEO of Infiniti Insurance, says people must note that the cost of household content insurance is influenced by a myriad factors, including location-specific elements like natural disasters, crime rates and claims volumes.

“The size of your home and the desired level of coverage also play a significant role in determining the final cost,” she said. “The value of your belongings is another key factor affecting premiums. For particularly valuable items, insurers may require them to be specified on the policy and may request a valuation certificate to ascertain their worth.”

What you need to know about home content insurance:

• Underinsurance occurs when your contents are insured for less than their replacement value. In the event of a claim, you’ll only receive a payout proportionate to the insured amount, leaving you to cover the shortfall.
• High-risk items: Certain items, such as jewellery, art, and electronics, may require additional coverage or may be subject to specific limits in your policy.
• Compare quotes: Don’t accept the first quote you receive. Shop around and compare quotes from multiple insurers to find the best cover you can afford.
• Policy wording: Read the policy wording carefully to properly understand the coverage, exclusions, and limitations.
• Consult a broker: Don’t hesitate to ask your insurer or broker any questions you may have about the policy.

By taking these factors into account and following these tips, you can ensure that you have the right home content insurance to protect your belongings and give you peace of mind while you are away.

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