Many homeowners fall into the trap of thinking that in the event of a natural disaster or theft their building insurance covers the loss or damage of personal belongings inside their home. Truth is, this isn’t the case unless it’s packaged with household content insurance.
Let’s discuss the difference between building and content insurance and the importance of having both.
Whilst building insurance covers the structure of your home and its outbuildings, household content insurance covers more personal possessions and valuable objects like your furniture, appliances, cutlery, crockery, clothing, bedding, clothing and all loose items in your home.
Both types of insurance will cover instances where damage is caused by fire, lightning, explosion, storm, wind, rain, hail, snow, water or earthquake. They’ll even cover bursting and leaking pipes, overflowing of water and damage from faulty heat installations.
As a homeowner, you know that your home is one of your biggest assets. Having both building and household content insurance ensures that, should something go wrong, you will have money to rebuild your home and replace your belongings.
Having both these insurances doesn’t only cover you financially but also gives you peace of mind. You’ll know that you and your family will be taken care of in an event of theft or a natural disaster.
Another important factor to consider when looking for suitable insurance is to find one that covers not only for replacement of the structure and the contents, but one that includes the cost of living somewhere else whilst your damage is repaired.
At Compendium we will help you find insurance that will best suit your needs and to safeguard you in the event of damage to your property.
If you’d like to find out more about our building Insurance and household content insurance, you can speak to one of our brokers by contacting us on 031 242 6800, or visit our webpage at: http://www.cig.co.za/