25 September 2019
House insurance, a homeowners safety net. It helps break an otherwise nasty, rib breaking fall.
Let’s say you put your house up for rent, and one of the tenants throws an elaborate birthday party that goes a little out of hand, so out of hand in fact that no one can explain how there is a giant hole in the living room wall. Or in trying to remodel your home, your brother-in-law says his new construction company can do it at a cheaper price; you’re not convinced, but he’s family, so you let him do the job and he ends up bursting a water pipe, now your house is flooded. From reckless human behaviour, theft and unforeseen circumstances, without house insurance, you’re left to cover for the entire devastation. Which will surely do more financial damage, it is now up to you to cover the entire cost to repair the home.
Having your house insured with Momentum Short Term Insurance gives you peace of mind in knowing that Momentum promises to bear the problem and fix it.
Johan Barnard, CEO of Momentum Short-Term Insurance, advises homeowners to speak to their brokers, “first and foremost make sure that your assets are correctly insured.”
Houseowners insurance protects not only your house and its belongings, it gives you repose in knowing your home is taken care of against any unexpected loss or damage.
Johan’s advice to new homeowners; “It’s important for any new house buyer to know that if you buy your house through the bank, they will most likely give you a house owners policy. It is a generic product, it is not specifically catered to insure your home. So don’t leave it thinking my bank will look after that, that’s not necessarily the case.”
The cost of paying for house insurance seems like a daunting task, so much so, that first time homeowners opt to either not have one at all (risky move) or opt for a cheap cover that barely insures the essentials. As we well know, "cheap (insurance) can be very expensive" in the long run.
“It’s always better to over insure than under insure. Most people over insure their phones, and under insure their homes. A good broker will guide you on the best cover for your assets, saving you time and money in the long run” he says.
Momentum Namibia offers homeowners essential types of coverage and insurance policies at a credible cost.
“More and more products are coming out on the market, for example leakage cover. All of a sudden you get a municipality bill of 50 000. All these covers are available nowadays.”
Johan further adds that, “it's important that on an annual basis you see your broker. Make sure you are insured correctly, and that the value is correct, the insured value, not the market value ...the ensured value being the price to replace it. Because whatever you don’t insure, won’t get paid out.”
No one ever sees a fall coming, but it sure helps when there's a safety net to catch you when it does.
Speak to your broker about insuring your home with the best safety net there is, Momentum Short Term Insurance.