Adulting is hard enough. What’s the deal with insurance companies talking about Home Contents and All Risks? And on-demand insurance? Read on for some personal insurance 101.
Home Contents Insurance
This is insurance for the things inside your home. It is often explained as everything that would come tumbling out of your house if you had to flip it upside down. It includes cover for loss and damage, such as your flat screen face-planting, as well as theft.
When reading the fine print of your home contents insurance policy, take note of any limits for valuable items. For instance, jewellery may only get a percentage payout in the event of a claim. You can specify such items on your policy; your premium may increase, but so will your claim amount if something goes wrong.
All Risks Insurance
You can protect your valuables outside your house too – items such as laptops, cellphones, your Dr Dre Beats, a mountain bike best enjoyed on the trail. Cover includes accidental damage, loss and theft; worldwide for when life normalises again.
Unspecified All Risks includes personal belongings you carry around everyday, like clothing and handbags, and has a per item claim limit. There’s also Specified All Risks: as the name implies, you can specifically name and value items such as your camera and golf clubs. You typically require a Contents Insurance policy in order to get All Risks cover.
Not to be confused with home contents insurance, building insurance covers your actual house and outbuildings, including fixtures like geysers and carpets – think of a tree falling on your house during a storm, or your geyser falling through the roof when it bursts.
The newest kid on the block is on-demand insurance, gaining popularity worldwide for its flexibility and affordability. Choose what you want to insure, when you want to insure it. Simply switch on your cover when you need it – for weekends with your camera or an early morning cycle – and you’re covered. You’ll pay as you go, without having to commit to a long-term and pricey insurance policy.
And for the items you want to protect all the time, simply leave your cover on. It’s unbundled, so each item has its own terms. No surprise that we love this convenient insurance option! Check out the JaSure app to see how it’s done.
Please note that the views in this article are not intended to provide or constitute advice
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JaSure chatted to our brand ambassador, cycling enthusiast Oli Munnik to find out what positives he’s taking away from lockdown in SA.
A time like this really highlights the incredible savings benefits of JaSure, South Africa’s first truly on-demand, all risk insurance provider.