When you have a bond on your home, the bank will require that insure the building on a homeowners insurance policy for the duration of the bond term.
Most homeowners insurance policies provides cover for more than just the walls and roof of your home.
Cover for broken windows, geysers, bursting of water tanks and pipes (including the damage to it), malicious damage etc. are usually included.
Premiums are based on:
- The area you live in, construction of the roof and walls (non-standard walls and thatched roofs increases the risk and premium)
- The value of your home
- The excess you agree to pay when you claim..
Protect your home against:
- Water, Wind, Storm Damage