Many household insurance claims are being rejected by some of South African insurance companies due to a lack of consumer education by the insurer…
When taking out a household insurance policy, you need to make sure you specify all your valuables. The way you can define home contents insurance is, if you were to turn your house upside down, all the things that would fall down, are what should be covered. Contents insurance covers the financial cost of repairing or replacing your household personal valuables and furnishings. This includes carpets, furniture, white goods, stereos, TVs, computers and other electrical appliances, clothing, jewellery, sporting equipment and even toys. Know what you are insured for before it’s too late.
Recognizing the underinsurance of your household after a loss is a very common problem. So often you will try claim and the insurer says something towards the lines of “You didn’t state that item in your policy”, and you find yourself having to pay for expensive items even though you have a household insurance policy. For example, your home gets struck by lightning, which is a common occurrence in South Africa and blows your DSTV decoder, which you have not stated as one of your items in your policy. You will now have to spoon out the money to pay for that yourself. If you find yourself in this position or are luckily reading this before, it’s time to get educated so next time you can enforce your rights. The promise of security that insurers advertise and sell is part of the contract you paid for. It is up to you to enforce your rights under that contract.
You need to establish contact with a reputable insurance company that you can find on LikeMoney.co.za so that you can be contacted by a reputable representative from a good home insurance company. The advice you’ll get from an agent that only represents one insurance company will be different from the advice you’ll get from an “independent” agent or broker that represents several competing companies. LikeMoney.co.za allows you to compare various insurance companies based on your Facebook friends and other user recommendations, so that you can find the best and most liked home insurance policies to suit you.