What can you expect from your home insurance coverage?

Home insurance indemnifies the homeowner (the insured) against loss or damage sustained during the period stated in the schedule of their insurance policy.

If the home sustains damage from a flood or fire, the homeowner can expect to receive reimbursement for the financial loss incurred up to the value of the sum assured, above the excess stated in the schedule. 

The reimbursements will cover loss or damage to the walls, floors, roofs and other permanent fixtures of the house if the homeowner has a Building cover. It will also cover fatal injury to the insured or their house in the event of burglary, larceny or fire. If the building is rented, the reimbursements will also cover loss of rent and if not, additional costs of up to twelve months of alternative accommodation. 

If the homeowner opts for the Content cover or adds it to their Building cover, the insured can expect to receive reimbursements for loss or damage to the household goods and all other personal property owned by or are the legal responsibility of the insured or of any permanent member of their household.

The policy also covers the legal liability of the insured

  • as OWNER where the BUILDINGS are insured herein;
  • as OCCUPIER where the CONTENTS ONLY are insured herein;
  • as OWNER or OCCUPIER where both the BUILDINGS AND CONTENTS are insured herein.

This covers the legal cost for defence as well as damage payments, not exceeding the limit set out in the schedule.

The homeowner can also expect reimbursements for physical loss or damage to jewelry, furs and personal effects while contained in the insured private dwelling stated in the schedule, limited to the sum insured.

All of the above are subject to specific and general terms and exclusions of the policy.

If home insurance meets your expectation, send us an email at general@sacos.sc or call us on 249 5000.

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