What is Building Insurance?
Buildings insurance is designed to provide financial protection if there’s damage to the structure of your home, such as the walls, roof, and floors. It usually covers damage to fixtures and fittings too.
Best Building 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 Help@OUT emergency home assistance. Fees vary depending on the property and coverage but start at around R150 per month.
Santam
As one of the largest and most respected insurers in South Africa, Santam offers flexible building insurance policies tailored to each client’s needs.
Their policies cover natural disasters, fire, theft, and liability. Fees start at approximately R200 per month, depending on the property and coverage.
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.
Budget Insurance
Budget Insurance offers affordable building insurance policies with flexible coverage options. Their policies cover damage from fire, natural disasters, theft, and more. Fees start at approximately R130 per month.
Auto & General
Auto & General provides comprehensive building insurance policies with customizable coverage options. They cover damage from natural disasters, fire, theft, and more. Policy fees start at around R170 per month.
Hollard Insurance
Hollard Insurance is a leading insurance provider offering to build insurance policies with various coverage options.
Their policies cover damage from fire, natural disasters, theft, and more. Fees for Hollard Insurance policies start at approximately R190 per month.
What does building insurance cover in South Africa?
Most policies cover Fire, water, and storm damage. Malicious harm to your property. Limited subsidence and landslip cover.
What insurance do I need when buying a house in South Africa?
The law doesn’t require you to have property insurance, but most financial institutions will only give home loans on the condition that buildings insurance is taken out on the property.
What is the biggest insurance company in South Africa?
Sanlam
Top insurance companies in Africa
| rank | Companies | Country |
|---|---|---|
| 1 | Sanlam | South Africa |
| 2 | Old Mutual Life | South Africa |
| 3 | Liberty Group | South Africa |