Have you signed on the dotted line and picked up the keys to your first home? Well, then you’ve probably spent a small fortune on takeaway coffees, late-night Pinterest scrolls, and arguing about paint swatches. But before you settle in too deeply, there’s 1 thing left to sort out… Your home insurance.
Whether you’re still figuring out how to bleed a geyser or wondering why there’s a random key that opens absolutely nothing, here’s what your insurer needs to know about your brand-new home.
The kind of property you’ve bought
We’re not after your life story, although we’re sure it’s interesting and if you want to chat about that at some point, call us. But we do want just a few details about you and your new home, like what kind of property you’ve bought. Is it a freestanding house, townhouse, or sectional title unit?
This detail in particular matters, because these different property types come with different insurance needs.
Here’s a little look:
- Freestanding home: You’re responsible for both the structure and the contents, so you’ll need both building and home contents insurance.
- Sectional title or townhouse: The body corporate often takes care of building insurance, but you’re still responsible for what’s inside (that means home contents).
- New development or estate home: You might need to insure the building from transfer date, even if you haven’t moved in yet. Home contents is still a good idea, but you might want to look at our fire and fury home contents, which takes into account your secure living choices and covers everything our comprehensive home contents insurance covers… Except theft or attempted theft.
The value of your building and contents
Don’t guess. Seriously. If you underestimate the cost of rebuilding your home or replacing your stuff, you could end up underinsured, and that’s a nasty surprise at claim time.
Our advice is that for your building insurance, make sure that this value is based on the cost to rebuild the property, not its market value. When it comes to your home contents insurance, you should base this on how much it would cost to replace everything you own, room by room. Yes, even the mystery drawer in the kitchen.
Security measures
Insurers love security almost as much as your overly alert neighbour. We see you, Marge, we see you. Basically, the more you’ve done to protect your property, the better.
Be prepared to answer questions like:
- Do you have burglar bars or security gates?
- Is there an alarm system linked to a response company?
- Does the complex or estate have access control?
Better security can reduce your premium, and in some cases, it’s a condition for cover.
Oh, and again, we should mention that our comprehensive home contents insurance covers you for the loss of, or damage to, items in your home, which belong to you or to any members of your household who live with you (not tenants, though). But if you’ve chosen to live in a super secure estate or invested heavily into home security, then our fire and fury option covers everything our comprehensive home contents insurance covers… Except theft or attempted theft. So, fire? Covered. Storm damage? Covered. Robbery? Afraid not.
Who lives there and how it’s used
It’s not being nosy, it’s about understanding the risk. Basically, we need to know a few details, in addition to the type of property you’ve bought.
We’ll check with you if the property is:
- Your primary residence or a rental?
- Home to how many people living there?
- Used for business, like running a salon from the spare room or listing it on a short-term rental platform?
Any non-disclosure here could affect your claim, so honesty is key.
Your past insurance history
If you’ve had home contents or building insurance before (even at your rental) share that info with us. A good track record of having insurance, paying your premiums, and looking after your assets really does work in your favour. If you’ve never had cover before, no worries.
Everyone starts somewhere.
Add-ons that make sense
Think about extras that match your lifestyle and location, such as power surge protection. We give you the option to add cover for power surges and dips to your home insurance policy. With this add-on, you’re covered for the insured value as noted on your policy schedule, within a 12-month period of cover with the king.
Welcome to grown-up life
Buying your first home is a big milestone. Getting the right insurance cover? That’s how you protect it. A good insurer will walk you through your options, help you value your assets correctly, and make sure you’re covered for the ‘what ifs’ that come with homeownership.
Click here for a commitment-free insurance quote or you can WhatsApp us on 0860 50 50 50