Home Insurance, unpacking Home Contents Insurance

Home Insurance consists of a combination of Home Contents Insurance and Buildings Insurance. Your home not only offers shelter, protection and a haven for you and your family, it’s also a place to keep all of your…stuff. Some of it is valuable and some of it sentimental. Then there’s those things you’ve been meaning to get rid of. Like ageing treadmills or a digital camera you just know you’ll find the charging cable for or even those clothes that you will wear one day. Perhaps after a few gym sessions.

What does Home Insurance Contents cover?

It essentially covers the movable stuff inside your home. You pay a monthly premium so your belongings are protected if there’s a theft, fire, or accidental damage. And more often than not, it’s not only theft to worry about. A burst geyser, a faulty plumbing line that floods the house, or an accidental fire can damage furniture, appliances, electronics, clothing, and all the everyday things you don’t really think about until they’re gone.

Why do I need Home Insurance Contents Cover?

According to a FinMark report, only 11% of South African adults report having short-term (car and or home) insurance, which means many South Africans are vulnerable when things go wrong.

Additionally, StatsSA reported in a 2023/24 survey that over a 5-year recall period, about 2.6 million households experienced housebreaking/burglary, an increase of 12% from the previous year. A claims snapshot from Moonstone highlights geyser-related claims including those that damage property contents at 27% and storms at 18% (plus pipes 9% and lightning 4%) as major contributors to home claims.

What is covered by Home Insurance Contents Cover?

Most home contents policies cover the broader Mzansi risks: theft, fire, and certain types of accidental damage. Depending on the insurer and the level of cover you choose, you may also be covered for storm-related damage to your belongings, like water getting in and damaging furniture or electronics. Some policies also include additional benefits or optional add-ons, but the core idea is cover for sudden, unexpected events that damage or destroy your contents.

What are “specified items” in a Home Insurance Contents policy?

High-value items are specified separately, with the value stipulated and sometimes the proof of purchase required.

These may include items like:

• Jewelry

• Computer

• Equipment

• Sunglasses

• Artwork

• Sporting equipment

• Cameras

• Collectibles

NOTE: As all policies vary, ensure you read the fine print to make sure you’re properly covered.

What’s not covered in a Home Insurance Contents policy?

Home Contents Insurance generally doesn’t cover the following:

• Wear and tear. Your belongings naturally age over time

• Gradual damage. Issues like unnoticed leaks that worsen over time.

• Poor maintenance. Looking after your things is usually a good idea.

In other words, insurance is designed for sudden incidents, not problems affecting your possessions that build up over time.

NOTE: Exact cover and exclusions differ by insurer, so always check your policy wording carefully.

FAQs about Home Insurance

Quick answers to common questions about Home Insurance Contents Cover.

Do I need Home Insurance Contents Cover if I have a bond?

In order to secure a bond, banks do require Building Insurance Cover, which protects the physical structure of the building like walls, the roof, tiles, plumbing and the geyser. Contents cover is your choice.

Do I need Home Insurance Contents Cover if I rent?

Yes, if you want your personal belongings covered by the policy. Your landlord’s insurance won’t cover that, they’re usually (hopefully - check the lease) only covered for unforeseen building specific damage.

How do I avoid being underinsured on contents?

Always insure for the item’s replacement cost. Do a quick room-by-room estimate and update your policy with your insurer when you buy big-ticket items.

Find better Home Insurance Contents Cover with Hippo

Make choosing the right Home Insurance Contents Cover easy with Hippo. We only work with top, accredited insurance companies, and it takes minutes to find not only the best price, but the best value for your Home Insurance Contents needs.

This article is for informational purposes only and does not constitute financial, legal, medical or insurance advice. Hippo is a comparison site helping you evaluate quotes from trusted South African insurers. Always review policy details before making changes. Quotes are risk profile dependent and subject to annual review. No fees are charged for using Hippo’s comparison service. HAS (Pty) Ltd and HCS (Pty) Ltd are authorised FSPs. Terms and conditions apply.