Many property owners assume that home insurance, while it covers the bricks-and-mortar structure of their building in the event of a disaster, also covers the possessions within it. However, this is not the case. So, it is recommended that household contents insurance also be considered so your personal effects (like jewellery, furniture and even cutlery) are protected should an unforeseen event occur.
What’s different, what’s the same?
Household contents insurance:
Covers the items within the home e.g. furniture, electronics etc.
Covers possessions where damage is caused by faulty heaters, fire damage, floods and storms, natural disasters, vandalism or malicious damage, and theft
Does not cover self-inflicted damage or loss of items taken where there is no forcible entry into the property
As with home insurance, the policyholder must take adequate measures to protect his/her possessions, as will be stipulated in the insurance contract.
Covers the structure of the home
Covers the property where damage to the structure is caused by faulty heaters, burst or leaking pipes, fire, lightning, storm conditions, earthquakes etc.
Responsibility rests on the policyholder to ensure that the property is adequately protected and maintained, as will be stipulated in the insurance contract.
In the event of such disasters as listed above, the expense of recovering household items can add up quickly. Having an insurance plan that includes household contents insurance can help you replace your much-needed and loved family possessions while keeping your bank account intact.