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Home Insurance Explained

By Ctrl 8 March 2022 3min read

Love it or hate it, at some point we all have to do it: Home insurance. And like the rest of life’s admin – tax, anyone? – taking care of it means you can return to doing the things you love.

Taking Care of Your Happy Place

Speaking of which, we love helping you achieve peace of mind when it comes to your happy place. We love getting you the best home insurance quotes, too. That’s why we’ve put together this nifty guide. Take a beat and get to know the ins and outs of home cover.

Home insurance is divided into building insurance and home content insurance. The first protects the structure of and permanent fixtures in your home. The second, whatever valuables you fill it with. Let’s unpack.

– Your Home

Fire, theft, bizarre natural disaster? Building insurance protects your home’s physical structure (floor to roof), and permanent fixtures like fitted cupboards, and built-in appliances, like geysers. If it’s immovable, it falls in this category.

– Your Stuff

Home-content insurance covers everything that makes a house a home. Your stuff. It provides cover against loss, theft, and damage of furniture, free-standing appliances, and even jewellery. Think about tipping your house upside-down. Whatever falls out would be covered by a home-content insurance policy.

Why Insure Your Home?

There are many good reasons to insure your home, but these are our top 5:

  1. This might be the biggest asset you own – the one you can’t ‘live’ without. So, what if it’s simply not there anymore?
  2. If you have a bond, the bank will require that your home is insured.
  3. You can get repairs done quickly if your house gets damaged, without having to wait until you’ve raked up the necessary funds.
  4. Home insurance will provide emergency repair services to protect and prevent your home from further damage.
  5. If you can’t live in your home because of a mandatory evacuation, your insurance policy will cover your temporary living expenses, depending on your policy.

Who Needs Home Insurance?

  1. Whether you own an existing home and the stuff inside, or a newly built house waiting to be filled – you need home insurance.
  2. If you’re leasing out a property – you definitely need insurance.
  3. You may not need building insurance if you own a sectional title home. In this case, the cost of the insurance will usually be included in your monthly levies, which means your body corporate will be responsible for it. You’ll still need to insure the contents.
  4. If you’re renting from someone else, the building insurance is typically for the owner’s account, so you don’t have to worry about it.

Good To Know

Get a property report and make a list of all the contents in your home before you request a quote. An accurate valuation will help you avoid being underinsured. Once you’ve selected a policy, make sure you know what it covers. Take your time, and read it thoroughly. Oh! And remember to update your policy whenever you treat yourself to something new and valuable. This includes renovations. 

Keen to tick home insurance off your to-do list? Let Ctrl help you. We’ve squeezed the whole process into one platform. You can get real quotes from trusted insurers, in real-time, and we’ll even help you choose the best one for your specific needs. No call centres, no paperwork, no wasted time. Visit our web app to get started.