Does your insurance cover everything: fires, floods and protests?

PROPERTY NEWS - We live in a changing world where there are almost daily reports of natural disaster and service delivery protests and vandalism that may affect your property - not just your home, but your business, motor vehicle and life - in one way or another.

You might be driving to work or a meeting and the next moment, you are caught in a service delivery protest with objects flying from every angle.

The recent devastating fires on the Garden Route destroyed hundreds of homes and highlighted the stark reality of homeowners who lost not just the bricks and mortar, but their entire household contents and personal effects and in most cases, even their means of identification.

Steve van Wyk, MD of Seeff Centurion, says that it is prudent for homeowners to revisit their insurance policies and check that their cover is not just adequate, but sufficient for all eventualities. Most homeowners are unaware that they may need to add Sasria (South African Special Risks Insurance Association) to cover special risk associated with civil commotion, public disorder, strikes, riots and terrorism.

Start with your most valuable possession, your home, says Van Wyk. In addition to checking the cover on the actual bricks, mortar and structures on your property, check your fixtures and fittings. You may have expensive items that should be covered in case of accidental loss or catastrophe.

Be sure to also check the insurance on your household contents. Bear in mind, he says, that replacement cost can run into thousands upon thousands of rand as it adds up very quickly. Aside from checking that you are adequately insured for replacement value, check whether you need to add Sasria cover. The negligible cost may outweigh the peace of mind, especially if you live near high-risk protest areas. It is also advisable to file an inventory of goods and photographs with the insurer.

Be sure to check that valuables that you carry with you during the day such as your laptop, cellular phone, jewellery and the like are adequately covered. Don't forget about loss of income cover if you are self-employed or run a business. Gerhard van der Linde, MD of Seeff Pretoria East, also recommends that you store vital records and documents such as identification documents, insurance policies and bank accounts in a safe place, preferably a fireproof safe. Ensure that you have a record of the relevant operators and reference or account numbers handy to grab in case of an emergency or if you need to evacuate your home fast.

You may also want to ensure that keys and other necessities are always kept in a place that is quickly accessible in the event of emergency.

In today's digital world, he says, it is also advisable to make regular back-ups of vital business and financial records, as well as any other digital data that is valuable or sentimental, and to store these off-site, preferably with a security company. www.privateproperty.co.za

Be sure to also check the insurance on your household contents. Photo: www.nar.realtor