Household insurance tips by Budget
Insurance Company.
Budget Insurance, one of South Africa’s most respected household insurance
companies, has some pointers for getting the most out of your household
insurance policy. According to Budget Insurance, keeping and frequently updating
a household inventory can prevent incorrect claims and strengthen your
case when you do actually need to submit an insurance claim.
Increasing numbers of South African consumers are realising that household
insurance is not a luxury, but a necessity. Although the chances of a
burglary is arguably a lot higher than the chances of a natural disaster like a
flood destroying your home, there is always the threat of destruction by fire.
If you do not
have a recently updated and complete household inventory, it is very hard
to establish exactly what was destroyed or stolen when a burglary or disaster
happens. In addition to this, the likelihood of establishing the exact value of
the damaged or stolen possession is equally slim.
The problem
with this is that it increases the chances that your claim won’t cover the full
value of your itemised losses or damages. Keeping a household inventory goes a
long way towards avoiding this situation. Seeing as burglaries and property
damage by fire or natural disaster can be very traumatic; you probably won’t
remember every single item in question. An updated written list will prove
invaluable in helping you compile a household insurance claim and
statement for the police.
Top Household Insurance Tips
Updating a
household content inventory
every six months or so will stand you in
good stead in terms of household insurance
and related claims. Keep track of all the
new items you buy, and place the purchase
receipts in safe place such as your office,
or a friend or family member’s house.Photograph every room and the inside of the
garage. Place all the most valuable insured
items in such a position as to be clearly
visible in the photograph.
Write down an
article list for each room, including the
articles stored in drawers, cupboards and
containers.
Collect and keep copies of the receipts
of large, valuable items such as
televisions, DVD players, fridges, cameras,
jewellery, etc. in safe place – preferably
not in your own house.
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