Motor & Home.

Families spend most of their hard-earned income on their homes, vehicles and the contents of their homes, so it is extremely important to protect those assets against financial loss. The best way to protect assets that are built up over the years, is to take out insurance cover that will cover the costs of repairs to or replacement of such assets when disaster strikes.

It is very important to note that motor and home insurance policies do not cover the maintenance of your property or wear and tear/gradual deterioration of your property. It provides cover against sudden unforeseen loss of or damage to your property.

Cover available

Building cover provides protection against financial loss to the owner of a building, generally a private home, if the building were to be damaged or destroyed due to any of the insured perils.
The insured perils include loss or damage caused by

• fire,
• lightning and explosion,
• storm, wind, water, hail, or snow,
• earthquake,
• bursting of geysers,
• impact by animals, vehicles, aircraft, or aerial devices,
• collapse or breakage of aerial systems and satellite dishes,
• theft or attempted theft, burglary,
• leakage of oil from oil heaters.

It is very important to note that insurance policies do not cover the maintenance of your property or wear and tear/gradual deterioration of your property. It provides cover against sudden unforeseen loss of or damage to your property.

Cover depends on the sum insured you choose, based on the replacement costs to repair, or restore your building to the condition before the loss or damage. Please note, that neither the municipal, nor the market value is relevant in establishing the value at which you need to insure your property.

The insured amount should always include the replacement value of your boundary walls and gates, outbuildings, swimming pool and pump, paving, borehole and pump, solar panels and accessories etc.

The principle of “average” or “under insurance” applies to building cover. It means that you, as the policyholder, are responsible for part of the replacement costs if the replacement value of your buildings is more than the insured amount.

This is a calculation:

Sum Insured
Value at Risk (At the time of loss)

Contents cover provides protection against financial or physical loss, or damage to your movable property inside your home. All movable items inside your home or on your property that you would take with you when you move to another house, would be considered as the contents of your home. Contents may be insured comprehensively (against all insured events described by the insurer in the policy wording) or on a limited basis which normally excludes theft or burglary cover.

Contents claims are settled on a “new for old” basis. This means that the damaged or lost item will be replaced with a brand new item, or you will receive the monetary value of the specific item in cases of items such as antiques. It is therefore important to insure your contents at the replacement value, the value based on the new price of insured items.

The principle of “average” or “under insurance” applies. It means that you, as the policyholder, are responsible for a part of the claim if the replacement value of your contents is more than the insured amount.

We urge you to prepare a proper inventory (list of items you own) and that you update your inventory once a year. If you need help, please download the inventory form that we prepared as a guide. You are welcome to send us the inventory information, backed up with photos of the most valuable items, so that we can keep it safe and available in the event of a claim.

This is a calculation:

Sum Insured
Value at Risk (At the time of loss)

All Risks cover provides protection for items of a personal nature that you regularly remove from your home. The cover is provided in two different subsections: unspecified cover, or specified cover.

Unspecified cover provides cover for clothing and personal effects that are carried on your person or that are designed to be carried on your person daily when you are away from your home. For this section, you choose a collective sum that will cover all the random items that you may carry with you, but that do not require specific individual insurance.

Insurers do exclude certain items under this section and require that the policyholder specify those items under the specified cover section. These items may differ from insurer to insurer. It is therefore important that you discuss your requirements with us. Under this section insurers limit the amount that you can claim, up to 50% of the sum insured per item (depending on the insurer), upon the understanding that the collective replacement value of all items claimed for cannot be more than the total sum insured for this section.

Specified cover provides cover for specific items that are listed individually in the section. These items include the items excluded under the unspecified cover section. Each of these items must be listed separately with a full description, make and model, serial numbers and value of each item.

Typical items to be covered under this section could include:

• Cellular phones
• Laptops or electronic data devices
• Photographic equipment
• Camping equipment
• Bicycles and sporting equipment
• Jewellery

Vehicle cover provides protection for all privately owned vehicles such as private type motorcars, LDVs with a Gross Vehicle Mass less than 3 500 kg, motorcycles, trailers, or caravans against loss of or damage to the insured item. Three options are available:

• Comprehensive cover – This provides cover for any loss or damage, unless specifically excluded, such as mechanical breakdown, wear and tear, unroadworthiness, driving without or invalid driving licence or driving whilst under the influence of drugs or intoxicating substances.
• Third party, fire and theft cover – This provides cover for all the above but excludes own damage to the insured vehicle. In the event of theft and/or hijacking, the insured vehicle would be covered comprehensively.
• Third party cover – This provides cover only for damage to the third party’s property. The insured’s vehicle is not covered at all.

We use the retail value of your vehicle as the basis for the comprehensive and/or limited cover. It is important to also add the value of non-standard accessories to the retail value.

It is important to name the regular driver of the vehicle and the registered owner. You must specify the address where the vehicle is kept and describe the class of use according to the policy requirements.

Watercraft cover provides protection against loss of or damage to watercrafts such as boats and jet skis. Cover of these items depends on the replacement value. Replacement value is affected by additional accessories and outboard motors fitted to these crafts.

Watercrafts for personal use, means that the hull must not exceed 6 metres in length, including inboard motors and all other fittings and/or accessories normally sold with the watercraft, including the trailer. Outboard motors, crew’s clothing, sextants, nautical books, oilskins, ski boots, yachting clothing and any other additional or special equipment must be insured separately.

All watercrafts with an engine size smaller or equal to 15 hp, do not require a skipper’s licence. For all other vessels, the skipper must have a licence and the skipper must provide a certificate of fitness, as well as a certificate of buoyancy for the vessel.

Watercrafts for business or commercial use, or vessels owned by a company, must be insured commercially.

Additional liability cover for skiers and third parties is available on request.

Liability cover provides protection for the insured person when a third party suffers financial loss due to an incident that could have or should have been prevented by the insured and the third party requires the insured to pay for the loss or damage. Possible claims include accidental death, bodily injury, or illness of any person, as well as accidental physical loss or damage to tangible property of any person, anywhere in the world.

Personal accident cover provides protection in case of death and/or disability because of any accident. This cover provides protection even in the event of partial physical bodily loss, such as the loss of a limb or a body part. The cover is provided as percentages of the total cover (sum insured). Details of the percentages based on the sum insured are available in the policy wording.

Car rental – This cover is provided if your comprehensively insured vehicle is involved in an accident or is stolen. In such event, you will be supplied with a rental vehicle while your claim is being finalised, up to a maximum period of 30 days. This cover provides various vehicle options to choose from. Such cover is provided as an additional section and an appropriate premium is charged based on the class of rental vehicle chosen.

All clients with a portfolio of over R3,5 million (Building and Home Contents Cover), qualify for one of our specialised HNI products. These products are designed for the specific needs of the HNI. There is a broad spectrum of cover and value-added benefits that are not available on standard insurance policies.

We take care of everything!