Protect Your Belongings with a Householder Policy

A householder policy, like a homeowner policy, covers loss or damage to your contents or movable possessions caused by the following perils:

Fire, lightning, and explosion caused by gas for domestic purposes

Aircraft

explosion (other than gas used for domestic purposes)

Road vehicles or animals

Bursting or overflowing of water tanks or pipes

Electrical Installations

Windstorm, tempest, earthquake, volcanic eruption, and flood

Theft with violent forcible entry or exit

Loss of rental

Liability to third parties for accidents in your property

Compensation for the death of the insured.

You may wish to cover the following perils which are excluded in a standard policy:

Subsidence and landslip

Riot, strike, and malicious damage

Please ensure that the sum insured is adequate. You should decide on the basis of compensation for your householder policy, whether it is on reinstatement or the replacement value. You will be compensated with the value of a brand new item under a reinstatement basis but on the depreciated value of the item lost under a replacement basis. Do extend selected coverage to perils excluded in a standard policy.

To facilitate claim in case of a fire or other perils, keep your bills and receipts together with photographs of all household items in a safe place. I would suggest that you back up your documents in the cloud using a cloud storage provider such as Google Drive or iCloud. If you keep your documents at home and save them in your hard drive, laptop or iPad, in the event of a fire, they may be destroyed and you cannot produce documentary evidence to substantiate your claim. According to an article, Top 20 reasons your insurance claims get rejected, At the claims stage, some insurers want proof of purchase, such as an invoice. Be aware that the onus is on you to prove your loss,” he says. Jooste advises that you take photographs of each item in your home and save them to a disc or external hard drive.

Conclusion: 

Cover your home and its contents with a house owner policy and householder policy respectively. Make sure the sum insured is adequate; get an extension to cover perils excluded in a standard policy and include such expenses like the removal of debris after a fire.