Submit a claim

Normally as an industry standard your premium is based on several factors, including the replacement value of your home, its location, the security measures in place, and the cover options you choose. In essence, an insurer determines the risk attached to your property and will determine the premium accordingly.

If you’ve taken a loan to buy your home, building insurance is a bank requirement in South Africa. You should have it in place from the day the property is registered in your name. This reassures the bank that damages to the structure of your home can be repaired, or the loan can be paid off if your home is totally destroyed. Even without a bond on your home, building insurance is valuable. It guards against unexpected incidents and covers repair costs to the structure of your home, providing you with peace of mind knowing your home is protected when needed.

You will be compensated for loss or damage to your insured property, on condition that you pay the monthly premium, comply with the policy terms and conditions and provide your insurer with true, accurate and correct information. Failure to adhere to these conditions means that your insurer may not accept your claim, cancel your policy or recover any compensation they have given you for previous claims.

The purpose of building insurance is to help you recover from a loss or damage that was caused to your insured property during an unexpected event. Building insurance normally cover a wide range of potential risks, including damage from fire, storms, theft, and even accidental damage like a burst geyser.