Insuring your Property Pro's and Con's


1. Having insurance on your property gives you a peace of mind should you suffer, be it a big loss or total loss to your property. For example, if your property suffers loss from a fire, having insurance covers large damage that you may not otherwise be able to cover as the financial implication of such a loss could be huge.

2. Not only does having insurance ensure cover for huge losses but also minor accidents that could occur are covered ensuring peace of mind should you find, for example, your gate motor not working as a result of a lightning incident.

3. Having insurance eliminates some stress from worrying about things that you can enjoy cover from and lets you breathe easy knowing your insurance cover can help for some losses in life.

4. Paying an insurance premium is a low deductible, in most cases, compared to the cost of repair or replacement of an item that is not insured.

5. Having property insurance gives you a peace of mind should you suffer a loss which could be disastrous if you are not prepared for it.


1. Having insurance for your property does not cover all losses. Property insurance is very basic and in most cases additional coverage is required for you to be adequately insured and this could be expensive. For example, certain items should be specified in order to be covered in full, and an additional premium is charged for this.

2. Does not cover damage as a result of wear and tear and any damages or losses caused as a result of your property being old are not covered, so you need to ensure that your property is well maintained.

3. Insurance is an extra Monthly Payment, and you will only see the benefit once you have a loss.

4. High excesses may be charged, thus rendering some items to be paid directly from your pocket as they would fall within an excess should you claim for them.

5. You will need proper record keeping of your purchases, as most insurers require proof of ownership in an event of a claim and this can be burdensome to people as this requires a level of organization and record keeping.


When you acquire property, get insurance and make sure that you are adequately covered, it is great not to have to worry about unforeseen disasters as your property insurance will take care of these disasters.

Maintain your property so that you don’t get a nasty surprise when you claim on your insurance.

Contact one of our advisors for more information.

Phone: 011 803 9686

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