Increased Crime Calls for Better Household Insurance

77% of South Africans with household insurance are underinsured by 61% Insurance groups urge South Africans to check household insurance policies.

Statistics released by Quantum Risk Assessments showed that an incredible 77% of South Africans who had household insurance were actually underinsured by around 61%.

With crime, unfortunately, on the increase, it is imperative for customers to be properly insured, say insurance groups.

The South African police revealed that robberies have increased by a whopping 27.3% in households around the land, and the number does not seem to be going anywhere but up.

"Too many people are under the impression that their homes are adequately covered, when this is actually not the case," said JonJon Smit, speaking for CIB Insurance Solutions.

"It is important that people don't underestimate the value of their contents, or the cost of replacing them," he warned. "In the event that you are a victim of theft, you can be left seriously out of pocket."

So what can South Africans do to ensure that they are properly protected?

Insurance groups say that consumers should regularly check to see that their household insurance covers all items, especially ones that are new and have been added after the policy was taken out.

"Very often, consumers keep the same policy in place without checking to see if the coverage is still adequate," said Smit.

"Given the rise in household robberies, it is increasingly important that people check their policy to make sure they are not under insured," he added.

Smit also said that it was important for consumers to understand the terms of their policies and any concerns should be raised with their brokers.

The idea that criminals only target the wealthy is pass?"It is clear from the police report that all types of households are targeted and therefore it is crucial that all South Africans ensure that they are adequately covered in the event of a possible theft," concluded Smit.