Car and home insurance

If you are lucky in life you will never be involved in a car accident… your house will never be damaged and you’ll never be the victim of a crime.  Unfortunately though, life’s not like that and chances are you will lose something that is valuable to you.  That’s why you need reliable car and home insurance to protect your biggest assets.

 

Insurance for your car

There are three basic types of Car Insurance available in South Africa:

  • Comprehensive car insurance covers your vehicle against accidents, fire and theft - and covers you against claims by third parties where you are liable for their damage.
  • Third Party, Fire and Theft covers your vehicle if it is lost or damaged as a result of fire or theft, and against third party claims, but does not include cover for accidents.
  • Third Party Only insurance covers third party claims where you are liable for the cost of damage or injury to others, but does not include cover for accidents, fire or theft.

Important: Your premium may be lower if you don’t choose Comprehensive cover, but if you damage or write-off your car in an accident you will have to cover the costs yourself.

Insurance for your home
Home insurance in South Africa is divided into two categories – Homeowners insurance,which covers loss or damage to the actual building, and Home Contents insurance which covers the items inside your home.

  • Homeowners Insurance gives you cover for your home and its related structures (like garage, walls, gates and fences) and insures your property against fire, lightning and explosions, natural disasters, theft and more.
  • Home Contents insurance covers everything inside your home… from your furniture to your carpets – your appliances to your books, CDs and artworks.  If any of your household contents are lost or damaged due to fire, theft or natural disaster, your Home Contents insurance will pay to repair or replace them.

Important: Many people believe that the contents of their home are automatically included in their Homeowners cover, but this is not the case. Your household contents have to be insured separately!

Next article: Other types of insurance