Let’s be honest. Buildings insurance (or homeowners insurance, which is the same thing) doesn’t always feel like a super necessary expense, because it doesn’t seem like you ever really have to put in a claim. That is, until a tree falls through a window or a break-in damages doors, or a massive wind wrecks your fixed and insured solar panels. Those things are stupidly expensive to pay for out of pocket and having buildings insurance gives you that financial protection against unexpected events, like theft, fire, accidents, and natural disasters.
Oh, and if you’re taking out a home loan then it’s necessary because the banks make it compulsory.
From our royal perspective, we’d say that buildings insurance is a vital part of your financial planning as a homeowner in South Africa. But that doesn’t mean that it has to cost the earth.
Here are a couple of ways you can reduce your homeowners insurance premium without sacrificing your cover.
-
Increase your home security
You probably know that your buildings insurance premium is calculated by some smarty pants humans using a variety of factors, including the risk factors associated with your property. Like the general safety of your home. This means that if you enhance the security of your home, such as installing burglar alarms, security gates, and CCTV cameras, you can reduce the risk of theft and vandalism. Additions like these have the real power to lower your homeowners insurance premium.
-
Maintain your home
Keeping your home in good condition also has the potential to help bring your homeowners insurance premiums down. We’re talking about regular maintenance, like fixing leaks, replacing broken windows, and repairing damaged roofs. These kinds of improvements can reduce the risk of damage to your home, which can result in lower premiums. Importantly, they can also help you log a successful buildings insurance claim.
-
Bundle your policies
Literally, 1 of the easiest ways to reduce your homeowners insurance premium is to bundle policies by insuring your home, car, or home contents with the same insurer. By keeping your insurance under 1 roof, you could quite possibly get a discount and save money on your premiums.
-
Review your cover
Reviewing your actual policy regularly may sound boring and like another piece of admin piled onto your plate. But in reality, it can help you identify areas where you can save money. For example, if you’ve paid off your bond, you may be able to reduce your insured value. Similarly, if you’ve made improvements to your home, you may need to increase your insured value to avoid being under-insured.
-
Also, chat to us
Let’s say that you’re struggling to maintain your premium payments and you’re at your wits end. Just pick up the phone or shoot us a WhatsApp on 0860 50 50 50 and talk to 1 of our consultants.
We want to make sure that you have uninterrupted cover, that you have the king’s backing for if (or when) things go pear-shaped, and that your insurance is affordable. So talk to us and let’s see what possible solutions there are available to you so that you can continue to protect your home.
Interested in King Price buildings insurance?
We know all too well how valuable your castle is to you, which is why our buildings insurance covers everything that’s part of your property, from the geysers, gate motors, and garages to boreholes, tennis courts, and even the pools and pipes. It’s comprehensive, it’s simple and cheap, and you get the benefit of our royal service… All under 1 roof!
Want to take a minute or 2 to see what our royal buildings insurance costs? Thankfully, it’s really easy. Get in touch with us either via WhatsApp on 0860 50 50 50 (or you can call us) or you can get the ball rolling by clicking here to get a commitment-free quote online.
