What is Household / Home Contents Insurance?
A home contents insurance policy provides protective cover for your personal belongings against damage or loss caused by fire, theft, accidents, natural disasters such as storms and floods, water leaks, and the like. Whether you rent or own your house, even if you have security measures in place, such as burglar bars, security gates and alarm systems, it is always a good idea to take out home contents insurance. Regardless of how good your security measures are, every house is still susceptible to theft and this is only one of the risks to your belongings.
Your home and its contents face a variety of risks which may cause damage to your property and possessions. The replacement value of household contents due to damage or loss can be extensive. Home contents insurance protects your wealth against these unforeseen expenses. In exchange for a monthly premium, home insurance companies agree to take on the risk to protect your home and its contents.
What is the difference between House Insurance and Home Contents Insurance Insurance?
House insurance or home owner's provides protection against risks to your property. Your property consists of the actual buildings of your private residents, including any outbuildings and swimming pools. The risks to your house may include fire, lightning, wind, flood, earthquake, theft, vandalism and other risks specified in your house insurance policy. If you have a bond it is compulsory to have house insurance for the duration of the term.
House insurance and home contents are not mutually exclusive and household insurance policies often have cover for both the buildings and its contents. However, the type of house or household cover depends largely on the replacement value of the building or your possessions.
What does Hoeme Insurance cost?
House insurance or home contents premiums, like all insurance premiums, are determined based on risk and are calculated to reflect the probability that you will make a claim. Those who are unlikely to claim will have lower premiums than those more likely to make a claim.
Home insurance companies take many factors into consideration to determine the likelihood that you will make a claim. The factors home insurance companies use to determine premiums include: The sum insured, where you live, the excess amount, the oldest person living in the house, home security, your statistical group and other factors.
Who provides the service and which home insurance options are available?
IHN Konsult financial advisors offer flexible home and household contents insurance to cover losses such as theft, accident and liability. In addition, house insurance products also cover losses due to fire and explosion, and natural disasters like earth quakes, hail and floods.
Household insurance policies consist of the following cover:
- Household contents insurance
- House owner's insurance
- All risks insurance
- Personal liability insurance