Looking for household insurance hacks that could help you make smarter choices about your cover? You’ve come to the right place.
If you’re one of the many South Africans who has insured their home and household contents, we salute you! After all, replacing a TV, laptop, furniture or other household belongings after something unexpected happens can put a serious dent in your bank account.
Having cover in place gives you a backup plan for the things that matter most. But that doesn’t mean you should take out a policy and never look at it again.
Your home changes. Your belongings change. Your needs change. And your cover might need a little check-up along the way too.
That’s why we’ve put together a few household insurance hacks to help you take a closer look at your cover, understand what you’re paying for and see whether there are areas worth reviewing.
And hey, if reviewing your cover happens to leave a little more room in the budget, we’re sure you can think of something fun to do with it!
Ready? Let’s get into it.
1. Shop around and know what you’re getting
First on our list of household insurance hacks is a simple one: do your homework.
Different insurers offer different cover options, benefits, limits, terms and conditions. Price is important, but it shouldn’t be the only thing you look at.
A cheaper premium might sound great, but not if the cover doesn’t suit what you actually need.
Take some time to compare your options and understand what is covered, what isn’t covered, what limits may apply and what you might need to contribute when you claim.
A little reading now could save you from a big surprise later.
2. Get to know your excess
Ah, the excess. It’s one of those insurance words you’ve probably heard before, but do you know exactly what yours is?
Your excess is the amount you may need to contribute when making a claim.
Depending on your policy, your excess and premium may be linked, so it’s worth understanding how yours works before making any changes.
The important thing is to choose cover that works for your budget now and that you can manage if you need to claim later.
Because saving on your premium sounds great. Getting a nasty surprise at claim time? Not so much.
3. Give your belongings an annual check-up
When was the last time you looked at everything you have insured?
And we mean really looked.
Maybe you sold that extra TV that was gathering dust. Perhaps you upgraded your laptop, bought a new couch or finally treated yourself to that fancy coffee machine.
The things inside our homes change all the time, so it makes sense to review your cover regularly too.
Check that the belongings you want covered and their values still reflect what you actually own. If you’ve made any big purchases or changes, check whether your cover needs to be updated.
Think of it as a spring clean for your insurance. No rubber gloves required!
Understand what underinsurance is.
4. Check in when life changes
Here’s another one of our household insurance hacks that’s easy to forget: your insurance shouldn’t necessarily stay exactly the same when your circumstances don’t.
Moved house? Bought new valuables? Changed your home security? Made other significant changes around the house?
It might be time to check in with your insurer.
Your cover is there for when the unexpected happens, so keeping your information up to date can help make sure your policy still reflects your circumstances and needs.
While you’re there, ask questions. Understand your cover. Check your limits. Find out whether anything has changed.
Insurance is much less intimidating when you actually know what you’re paying for.
Tips to spring clean your insurance.
5. Give your home security some love
This household insurance hack isn’t just about your policy. It’s about protecting your home too.
Good home security can help make your property a tougher target for thieves and give you a little extra peace of mind.
A few things worth checking include:
Your alarm system: Make sure it’s working properly and check whether your policy has any specific alarm or armed response requirements.
Your locks: Doors, windows and security gates should have secure, working locks. That lock you’ve been meaning to fix for six months? This is your sign.
Your safe: If you keep valuables at home, consider storing them securely and check whether your policy has specific requirements for certain high-value items.
Your home when you’re away: Heading off on holiday? Check your policy for any conditions that may apply when your home is left unoccupied for an extended period.
Your perimeter security: Gates, walls, electric fencing and other security measures can all play a role in keeping your property secure.
The key here is simple: check what your specific policy requires rather than assuming one security measure will automatically change your premium or cover.
A few household insurance hacks can go a long way
Insurance doesn’t have to be something you sign up for and then forget about until you need to claim.
Taking a little time to review your policy, understand your excess, check your insured belongings and keep your information up to date can help you better understand the cover you have.
And that’s really what these household insurance hacks are all about. Not cutting corners or chasing the cheapest possible premium, but being a little savvier about your insurance.
So, give your cover a check-up, ask questions and make sure it still suits your home, your belongings and your budget.
Your Insurance Family,
