Knysna highlights value of insurance

THE RECENT storms in the Western Cape and fires in Knysna have brought the critical issue of home insurance into the spotlight: it is vital to make sure your property and its contents are adequately insured.

“The storms and devastating fires were a painful reminder of the importance of having adequate insurance cover,” says Bertus Visser, chief executive of distribution, PSG Insure.

“Whether you might face heavy rains that could damage your roof and gutters, or fires – from wildfires to those caused at the office or at home by faulty heaters and kitchen appliances – these are real risks to prepare against.

“It is also important to maintain your property – business premises or home – to make sure you are fully covered,” he says.

Hollard’s Deanne van Doesburgh says your home is probably your most substantial investment.

“It is also the absolute cornerstone of your lifestyle and family. That is why insuring it correctly is so important.”

If your home is lost in a fire, or all your possessions are “carried off by the local crime syndicate”, and you do not have insurance, Van Doesburgh says you will still be liable for any outstanding debt on the bond or contents, despite no longer having them.

“Paying off the existing debt and trying to fund your replacement digs at the same time would be pretty impossible.”

This is where insurance comes in.

By paying insurance premiums every month, reviewing and updating policies every year, and sticking to basic risk-prevention strategies, homeowners can better protect themselves, Van Doesburgh says.