Home Insurance
Home insurance, also known as homeowners' insurance (HOI), is the type of property insurance
that covers private houses and flats. It typically combines diferent personal
insurance protections, including damages to one's home, its contents or loss of other personal belongings of the home owner, and also liability insurance for accidents
that happen on the premises.
The cost of home insurance varies depending on what it would cost to replace the house and on the likelihood of losses occuring. Policies often exclude cover for things like floods or damage caused by war. Additional insurance can be taken out for this though.
The home insurance policy is simply a contract that is in effect for a fixed length of time. The money the insured individual pays to the insurer is called a premium. The insured has to pay the insurer/isurance company the premium each term - usually monthly. Insurance companies charge a lower premium if there is less chance that the home will be damaged or destroyed e.g. a house with fire sprinklers and alarms wil have a lower premium than one without this equipment.
Get quotes from SA's leading insurance providers now with our easy to use quote request forms.
The cost of home insurance varies depending on what it would cost to replace the house and on the likelihood of losses occuring. Policies often exclude cover for things like floods or damage caused by war. Additional insurance can be taken out for this though.
The home insurance policy is simply a contract that is in effect for a fixed length of time. The money the insured individual pays to the insurer is called a premium. The insured has to pay the insurer/isurance company the premium each term - usually monthly. Insurance companies charge a lower premium if there is less chance that the home will be damaged or destroyed e.g. a house with fire sprinklers and alarms wil have a lower premium than one without this equipment.
Get quotes from SA's leading insurance providers now with our easy to use quote request forms.
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