Buying a home... undoubtedly one of the biggest steps in adulting. And with it comes a lot of admin. So much so, it’s often easy to overlook small details.
Take buildings insurance as an example. If your home is financed by a home loan, your bank may insist that you take up this type of insurance. Not only does this protect their interest in this massive asset, but you too. And, it’s a very good idea, because many incidents can happen – big and small.
Naturally, your bank (or home loan originator) will offer you a solution. But is this something to simply tick off the list? Or is it something to take a closer look at?
Let’s find out.
What is buildings insurance?
Put simply, it’s the insurance that covers the physical structure and fittings of the home from damage or total loss. This includes everything from the walls to the roof, geyser, pipes and electrical wiring… you get the picture. If a nasty event takes place, such as a fire or even a burst geyser, this insurance will pay out to replace or repair the affected part of your home.
Must I take up what’s offered by my bank?
The short answer is no. You see, you have the option to choose any licensed insurance company you wish. In fact, since you’re the one who will be responsible for paying the monthly premium, you should definitely shop around for a good deal.
Can I change my buildings insurer?
Another short answer – yes! Again, you have the right to shop around for a better deal whenever you feel like it.
OUTsurance Building Insurance
Whether you’re in the process of buying a home, or wish to relook your current home’s insurance, speak to us. Not only could we possibly save you money every month, but you also enjoy a range of benefits.
Help@OUT: emergency assistance when things go wrong, with access to plumbers, electricians, locksmiths and more.
Low flat excess: no matter the size of the claim, you know exactly what excess you’ll need to pay. No percentages of the overall claim, no nasty surprises!
Our legendary OUTbonus: Get 10% of your paid premiums back in cash after three claim-free years.
Glass cover and more: Get automatic cover for accidental damage to fixed glass and sanitaryware, plus utilities connections between your home and the municipal supply.
Time to get a buildings insurance quote from OUTsurance? We think so! Start now by clicking here.