You can take advantage of several add-on options when it comes to household
contents insurance.
Legal cover
The first one, which we've already alluded to above, is legal cover. This
pays for your legal costs when faced with a lawsuit relating to something that
has happened to you, or that you have been implicated in (this only covers
non-criminal cases, of course).
There are a number of different policy options here. Some of the most common
events that you can take out legal cover for include the costs of claiming
compensation from another person if you have been in an accident that you were
not responsible for causing; consumer disputes, where you have bought something
that is faulty and the seller refuses to replace the item of refund you; and
disputes with neighbours that turn really sour - like suing for compensation for
damage to a shared wall.
New for old replacement cover
Then there is so-called new for old replacement cover. This is a way of
ensuring that an item that you lose is replaced with the equivalent new version
and that you are paid out enough money to buy it. It often happens that items
that you bought a while ago go off the market or are superseded by newer models.
This could pose a problem when it comes to replacing items that you lose. This
option allows you to specify upfront that you are insuring the items for the
amount it will cost to replace them with the latest equivalent model.
All risks cover
This type of cover is specifically designed to protect you against the loss
of individual possessions that you regularly take with you when you leave your
home. Typical examples are cell phones, jewellery and laptops.
Not all comprehensive household insurance policies include this type of
cover, so you may have to take it out as an add-on.
Fridge and freezer contents cover
This is a particularly pertinent form of insurance add-on in these days of
power cuts and load shedding in South Africa. It will pay out a fixed amount
should the contents of your fridge or freezer go off as a result of a power
outage.
Sports equipment cover
While your sports equipment is covered by your normal household insurance, it
often isn't covered while you're using it. So if your golf clubs get stolen from
your house, you'll be paid out, but if you break one while you're playing it
probably won't be. This add-on allows you to cover your sports equipment when
you're using them.
Garden equipment cover
Not all insurance policies automatically cover your garden equipment outside
your house. It's therefore possible to cover these items specifically by means
of an add-on insurance option.
Accidental damage cover
A further add-on that you can avail yourself of is one that covers your
possession against accidental damage. Many policies have this as standard, but
if the one you particularly want doesn't, you can take it out in addition to
your main policy. It's particularly useful in covering you against those DIY
accidents in the home, where you destroy a perfectly good dresser because you
were trying to re-varnish it or something.
Remember to always check you final policy schedule to ensure that all your
add-on options have been accurately included. There's nothing worse than
believing you have cover when you actually don't.
Combining buildings & contents insurance
It's always possible to take out one comprehensive home insurance policy that
combines building insurance with household contents insurance. Often you will be
able to get a discount on your insurance premiums this way.
A new trend is also to have household contents insurance offered to you with
your car insurance - again at a discounted rate. Make sure you investigate the
ins and outs of this - because insurance companies will often give you cheaper
car insurance if you take household insurance with it.
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