Your personal scenario planning tool when it comes to homeowners or household content insurance.
We all insure our homes and goods for peace of mind.
Importantly, different insurers will have different restrictions. It is critical you read the
fine-print and ask your advisor your “what if” questions, so you fully understand your restrictions or exclusions when it comes to claiming.
Also, different clients have different needs. There is no “one size fits all” solution. So, you should consider all your risks and potential threats in your unique world. These are some of the frequently asked questions we get asked and you should consider these when checking your policy schedule.
What if, my specified valuables are not kept in a safe?
Most insurers require you to keep specified valuables in a SABS accredited safe, when not in use.
What if, my alarm is not activated at the time of a break-in?
When activating your policy one of the questions asked are the security features that are present at your property. If one of the security features that you have is an alarm system, then your premium and cover will be according to the fact that you advised that you had an alarm system. With some insurers, depending on the area that you are in, it is a requirement that you have an alarm system in place in order for theft cover to be effective.
The insurer has the right to request an alarm activation report to check that the insured put all measures in place in order to prevent a loss (i.e theft). At claim stage, the insurer has to find that the insured did take all possible preventative measures as possible in order to prevent a loss. If they determine that you did not take the necessary measures, activating your alarm, then they have the right to repudiate the claim based on the fact that this would be a condition on your policy
What if, I have not provided an updated register of my assets?
If you have not provided an updated asset register, this affects your claim in 2 ways. The first being that you might not be adequately insured, and average might be applied on the claim. The second being that some serial numbers might be missing on the policy and you have to provide those serial numbers at claim stage. At claim stage you are unable to provide serial numbers, as the items have already been burned or stolen. It is also stressing to have to put up a list at claim stage, you might also overlook some items which are missing. The asset register helps you be able to determine what is missing at your property.
What if, I have not updated my jewellery valuation certificate?
You should provide an updated valuation certificate annually to insure you are covered for the current value.
What if, there is no forced entry and a domestic worker or maintenance person on site is responsible for the theft or loss?
If there is no forced entry and items are stolen by someone whom you have given authority to be at your property, there is no claimable event and thus the claim is repudiated. Your policy will ordinarily, clearly state that there is no cover for, loss or damage, by someone whom you have given authority to the property.