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The Differences Between Building Insurance and Household Insurance

 
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It’s a common misconception that household and building insurance are the same thing. Although you’d be excused for assuming this, it’s not advisable to skip getting a building combined insurance policy!

If you feel like you need to learn the differences between building and household insurance policies, look no further than below!

Building Insurance from Compendium:

  • It covers a building that is used mainly for business or residential purposes.
  • It involves the physical structure of a business or residential property.
  • It encompasses insurance against unexpected element-related events such as fires and floods that cause damage to your property.
  • It’s for you if you need to be covered against any theft experienced as a result of forced entry to your premises.
  • If you require insurance against potential loss of rental income experienced through damages to your property that may render it uninhabitable.

A Compendium Home Insurance policy:

  • Looks out for your valuable home contents.
  • Covers your possessions in the event of losses or damages as a result of theft, fires, floods, explosions, lightning strikes, wind, hail, storms, and even earthquakes!
  • It could extend to essential outdoor items such as garden furniture.
  • Your monthly premium could include accidental death, medical costs and veterinary and trauma counselling.
  • It covers damages or losses that are the direct result of the malicious behaviour of persons.
  • With today’s crime statistics on the rise, it makes sense to have this policy to safeguard yourself against the loss of your valued possessions.
  • This policy is fully customisable, and additional cover extensions and special endorsements are available.

Knowing the difference between these two policies is essential to ensuring that you have maximum cover and aren’t financially affected by thefts, damages, or losses. Compendium Insurance Brokers have a host of personnel ready to answer any questions that you may have. At Compendium, we strive to add as much value to the policies of our customers, assisting them every step of the way.

Whether it’s our building or household insurance policy, allow our comprehensive policies to give you peace of mind that your assets are covered. To arrange a short consultation with one of our brokers to discuss these essential and customisable policies, contact us today on 087 724 9390 or visit our website https://www.cig.co.za/building-combined-insurance.aspx.




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