What is House Insurance?
Home insurance, also commonly called homeowner’s insurance, is a type of property insurance that covers a private residence.
Best House Insurance In South Africa
- OUTsurance
OUTsurance is a renowned South African insurance provider offering comprehensive building coverage. Their policies cover various types of buildings, including residential, commercial, and industrial properties. Some of the benefits include a fixed excess, a 12-month premium guarantee, and a Help@OUT emergency home assistance. Fees vary depending on the property and coverage but start at around R150 per month.
- Santam
- Old Mutual Insure
Old Mutual Insure provides comprehensive building insurance policies with customizable coverage options. They cover damage from natural disasters, fire, theft, and more. Policy fees start at around R180 per month.
- Absa Insurance
Absa Insurance, a division of Absa Bank, offers building insurance policies with various coverage options. Their policies cover damage from fire, natural disasters, theft, and more. Fees for Absa Insurance policies start at approximately R170 per month.
- King Price Insurance
Known for its decreasing premium model, King Price Insurance offers comprehensive building insurance policies. Coverage includes damage from natural disasters, fire, theft, and more. Policy fees start at around R150 per month and decrease over time.
- MiWay
MiWay is a popular insurance provider that offers to build insurance policies with customizable coverage options. Their policies cover damage from fire, natural disasters, theft, and more. Fees start at approximately R160 per month.
- Momentum Insurance
Momentum Insurance provides comprehensive building insurance policies with customizable coverage options. They cover damage from natural disasters, fire, theft, and more. Policy fees start at around R180 per month.
What is homeowners insurance in South Africa?
Homeowners’ comprehensive insurance covers the property, its permanent fixtures, and fittings. This implies everything that forms the structure of the property, which includes but is not limited to the building, domestic quarters, outbuildings, garages, carports, paving, and property walls.
What is the most popular form of homeowners insurance?
The HO-3, also known as a “special form,” is the most common homeowners insurance policy form, says the National Association of Insurance Commissioners. An HO-3 offers “open peril” coverage for the structure of your home.