Homeowners’ insurance explained
Homeowners’ insurance is not a luxury, but a necessity.
Not only because it protects your home and possessions against fire, weather, earthquake, impact, leaks, flooding, malicious damage and theft, but also because virtually all mortgage companies require borrowers to have insurance coverage for the full or fair value of a property. These companies will not advance a loan or finance a residential real estate transaction without proof of it.
Note that many tenants also need insurance coverage as their landlords require it. Whether it is required or not, it is smart to have this kind of protection. Homeowners’ insurance will give you peace of mind and financial security when you need it most.
Some valuable tips when shopping for home insurance:
Compare the different insurance covers and benefits that fit your needs.
Make sure you know what excess you need to pay before you have a claim.
Update your home and household content values on an annual basis to make sure these are covered adequately in case of loss.
Familiarise yourself with the exclusions of your homeowner’s insurance policy.With Hollard Insurance, we provide you with the cover you need and more:
We also offer additional cover for:
- Accidental breakage of glass and sanitary ware
- Damage to gardens
- Demolition and professional fees
- Fire brigade charges
- Gate motor and garage-door motor
- Geyser repairs
- Increased house value through improvements
- Keys, locks and remote-control units
- Loss of water from underground pipes
- Public supply or mains connection
- Tracing of water leaks
- Liability to third parties
- Security guards
- Removal of fallen trees
- Rent or alternative accommodation
- Swimming pool, spa and borehole pumps
- Extended subsidence and landslip
- Mechanical and electrical breakdown
- Matching building materials
Enjoy your home with the peace of mind that the correct insurance cover offers.
If you have any questions or uncertainties, please do not hesitate to contact your insurance broker or Hollard Insurance Namibia.