Why renters don’t get home contents insurance (but should)
It’s a generally understood concept that home contents insurance is what you get to insure the stuff that you put into your house.
Image Supplied by King Price via Shutterstock
Things like rugs, clothes, furniture, TVs, kitchen appliances, and even garden furniture. But what is less understood, particularly among those who rent their homes, is that this isn’t an insurance policy solely for homeowners. It’s available to anyone who lives in a home (flat, apartment, bungalow, house, and the like) and puts stuff into their home and wants to protect themselves from the costs of replacing or repairing their possessions after an accident or theft.
Be an Anonymous Angel, donate HERE
Unfortunately, most renters in South Africa don’t know that they can (or should) get their own home contents insurance policy. In fact, according to our research there are 4 main reasons why renters opt not to get this cover and we’re going to reveal the truth behind these fallacies. Right here, right now.
It’s more complicated to get home contents insurance if you’re a renter
This might be the biggest barrier to renters exploring their own home contents insurance… The good news is that it’s not true. You can absolutely get home contents insurance as a renter and it’s no more complicated than if you were the homeowner. What matters more when it comes to the hassle factor, is which insurance company you go through. That’s why it’s so important to choose 3 reputable insurers to get quotes from and go with the most affordable option that was easy to get and offers you the level of cover and care that you require.
If you want to quickly get the ball rolling, then just click here, fill in a few details, and a team of experts will create a quote for you in a matter of minutes.
My landlord has insurance, so I don’t need my own
You’re half right. A lot of the time, landlords do have insurance for the property they’re renting out to you, however this is generally buildings insurance. This policy covers damage to the building and its fixtures but not your actual belongings that are in the property that you call home. If you want your own stuff covered against a break-in, geyser flooding, a fire, a felled tree that’s accidentally crashed into your home, and a heap of other risks that can (and do) happen, you’re going to have to get your own policy.
Advertise HERE
It only covers my stuff and I don’t own anything of real value
Right, so first of all… Collectively speaking, your stuff is worth a larger sum of money than you’d think. Maybe individually each item is budget-friendly, but damage and theft are things that happen to more than 1 item per incident. So, you’d be left with a larger total bill to cough up for than you’d expect.
Secondly, theft, fire, and water damage aren’t the only threats covered by home contents insurance. There’s also the question of liability, which is included in most policies and typically covers possible damage done to other people or their things on your rental property. By way of example, if you had a policy like this 1 here, you’d be covered for the legal costs related to damage caused by your negligence that results in your landlord suing you. And yes, these things happen.
It’s far too expensive and I need to keep costs down
While there are some expensive options out there, home contents insurance doesn’t have to be super pricey. For starters, the cost can come down by a percentage if you get your home contents cover from the same insurer who’s insuring your car. There’s also a rise of new products on the market to help people get insurance on a budget, such as this more affordable fire and fury option. This policy covers loss and damage to your possessions except if it was the result of theft or attempted theft, and it’s perfect for security conscious renters who are statistically less likely to be burgled. For example, if you live in a securely gated complex or estate.
Obviously insurance isn’t the most thrilling topic, but you need to know the truth. As a renter in South Africa, you absolutely can, and should, get home contents insurance that’s affordable and protects you against relevant risks.
|
Like What You've Read ? Be an Anonymous Angel
CLICK HERE for the latest News & Trends
Keep up to date with all that is happening in South Africa
with iloveza.com
Subscribe to our Newsletter
Subscribe to our Weekly Digital Advert Only Pamphlet
Follow @ilovezacom on
#iloveza❤️🇿🇦 #AfterFajrGrind
|
