Building insurance calculator

While neither over-or under-insuring is ideal, in the case of your building, we would recommend you rather be more cautious and insuring for too much than insuring for too little.

Building insurance claims can amount to a lot of money. Under-insuring can leave you with a much lower payout than you need to get your house back to its previous condition if it’s damaged. You would rather pay a few extra Rands every month than be short hundreds of thousands if you ever need to rebuild your home or a portion of it.

This depends on the situation. We don’t cover damage caused by wear and tear. If your roof leaks every time there is a rainstorm, you won’t be able to claim for this as it’s a normal part of home upkeep and maintenance. 

However, if your roof is perfectly intact and a hail storm with stones the size of soccer balls rips through it, we will cover the cost to repair the damage. This is considered an unforeseen event and no amount of home maintenance would have prevented this from happening.

Unless you’re an expert in home renovations, you might never know if your home is under-insured. The best way to make sure you have adequate cover is to get in touch with a specialist. There are valuations companies that specialise in determining how much the replacement value of a home should be. 

Also, remember to call us annually to make sure your policy still adequately covers your home on an old-for-new basis. This is when your older fittings and fixtures can be replaced with new ones in the event of a claim.

Yes, you can still enjoy the same affordable Buildings Insurance if your home is rented out, along with all of our benefits. However, be sure to tell us the home is leased. 

It’s also your responsibility to make sure the tenants don’t break any of the agreements in your policy schedule, like making unapproved renovations. If this happens, your cover will be void and if something happens to your home, whether as a result of those renovations or not, you won’t be covered.

Definitely! In fact, it’s more important than ever to use an affordable home insurance calculator in South Africa if you have a home loan. Imagine if your home burned down and you couldn’t afford to rebuild it. You would be paying off a house, possibly for the next 20 years, that no longer exists. Few people could recover from this financially.

Banks and other financial institutions that provide mortgages agree; most of them will only offer a home loan if you commit to having buildings cover for this exact reason.