5 Tips on Choosing the Right Home Insurance in South Africa

Story Highlights
  • 1) Decide on what you want the home insurance plan to cover
  • 2) Have a home evaluation done before choosing a home insurance plan
  • 3) Install a security system
  • 4) Research different home insurance companies
  • 5) Choose the right home insurance plan

Choosing the right home insurance can cause a lot of headaches. Where do you start? How do you know what you need? Can you get away with choosing the cheapest home insurance plan? 

These are questions that thousands of South Africans face when deciding on home insurance. Whilst it is by no means a simple process, there are a few things to keep in mind whilst hunting for the best plan with the most affordable premiums. 

Here are a few tips to follow when choosing the right home insurance in South Africa. 

1) Decide on what you want the home insurance plan to cover

If you’ve already started your home insurance journey, then you know that there are many different plans out there. It can be quite overwhelming! 

To narrow your choices down, first, decide on what you want to be covered. You can start by calculating the replacement cost of your home, the value of your personal belongings, and the value of your assets. 

You should also consider whether you would like to take out cover for unexpected emergencies like floods that can damage the structure of the house. By determining what you need or don’t need, it becomes that much easier to choose the right home insurance plan. 

2) Have a home evaluation done before choosing a home insurance plan

The value of your home is an important factor for home insurance companies to consider when they work out your premium per month. This is why a home evaluation is helpful when you are looking for the right plan. 

Having a home evaluation done before you choose a home insurance plan can show you the true value of your house as well as give you a more accurate idea of what you’ll be paying every month. 

Every homeowner should have their home evaluated once a year to keep their insurance up to date. As the years pass, you might decide to build a room or install a pool and all this contributes to the insurance premium every month. 

3) Install a security system

Another thing home insurance companies look at is whether or not you have a security system. The more ‘at risk’ you are of danger, the more your premiums will be. If you don’t have a security system yet, now is the perfect time to have one installed. 

Security companies have a few budget-friendly plans for you to choose from. Make sure that you at least have an alarm system and one or two panic buttons around the house. This won’t cost you a lot in monthly payments but it will definitely reduce the amount you’re going to pay in monthly home insurance premiums. 

4) Research different home insurance companies

As we already said, there are many options available, which is why it can be confusing when choosing the right home insurance plan. You need to choose the plan that is best for you. This is why research is an important step in your journey. 

Take some time to research different home insurance companies and read the reviews online. Then you can create a shortlist of potential companies that stood out and ask them for quotes. Once you have received the quotes, compare them and read all their fine print before you make a decision. 

If something confuses you or you are unsure about a certain aspect of their offer, phone or email them to gain clarity. You don’t want them to spring any surprises when you claim from them in the future. 

5) Choose the right home insurance plan

Once you start contacting the different home insurance companies, you will have a choice between two different types of plans. One is home contents insurance and the other is building insurance. 

Building insurance is usually the plan that the majority of homeowners opt for. This plan covers only the structure of the house. It typically includes coverage of doors, windows, and the roof as well as damage against adverse weather conditions. 

Home contents insurance, on the other hand, covers all your personal belongings. The list that you made when you decided you wanted home insurance will help you with this. You can include furniture, jewellery, appliances – practically everything under the sun! You can choose to take one or the other or both as many homeowners often do.

Final thoughts

South Africans face a conundrum when choosing the right home insurance plan because there is such a wide variety out there. If you do enough research and compare as many companies as you can, it becomes less of a problem. Then choosing home insurance is an absolute breeze! 

More useful resources related to home insurance:

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