This policy covers the building structure of your home.
We conduct regular cover and rate comparisons to ensure that the Standard Insurance Limited homeowner's policy remains competitive. Your premiums are calculated based on the type of construction and may be automatically debited to your home loan.
Your policy includes value-added benefits
Home assistance services
This is a range of services that will help you sort out emergencies in your home. It covers you for leaks, malfunctions of geysers, broken windows, electrical problems, pest control and appliance repairs, to name but a few.
Call out and the first hour's labour is free.
An extensive list of referral services is also provided giving you access to manufacturers' guidelines, information and referrals to experts in pool care, pet care, cleaning services, security, DIY, decorating, gardening, painting and communications.
You are also covered for normal wear and tear to your geyser. This service is extended to all geysers in your home, no matter how many you have.
Domestic employees' compensation plan
Provides personal accident cover for all of your full- or part-time domestic workers, while in your employ and on duty. Cover includes R15 000 in the event of accidental death, up to R15 000 accidental disablement, hospital cover of up to R13 000 as well as medical transportation costs.
Legal assistance for employers
As well as covering your domestic workers, the plan gives you legal assistance cover in the event of a dispute with your domestic worker, including telephone assistance, free consultation with an attorney, access to advice on legal document requirements and access to representation.
Settlement cover for employers
Gives you up to R10 000 settlement cover should the CCMA award in favour of your domestic worker in a dispute.
The above added-value benefits make our policy one of the best in the market at no extra cost to you.
Important Telephone Numbers
0860 123 444
0860 123 112
Service and Administration
0860 121 141
0860 123 445
Limitations of cover are included for storm, rain, hail, wind, snow or flood.
Limited cover - subsidence and landslip
Limited subsidence and landslip cover is automatically included in the Home Loans Homeowner's Policy and covers destruction or damage to the dwelling caused by subsidence or heave of the land supporting the dwelling or landslip. This is provided that the destruction or damage is not caused by or does not arise from:
- Excavation other than mining excavation.
- Alterations, additions or repairs to the dwelling.
- Compaction of infill or consolidation of the soils.
- Defective design, materials or workmanship.
- Settlement, shrinking or expansion of the dwelling.
The following are also specifically excluded:
- Foundations and solid floor slabs up to ground level.
- Swimming pools, tennis courts, patios, terraces, driveways, paths, septic or conservancy tanks, drains, water courses, walls, gates, posts and fences.
Optional cover for full subsidence and extended to cover the above instances can be arranged.
We are not be liable for
the work necessary to prevent further destruction or damage due to subsidence, heave or landslip except where appropriate design precautions were implemented during the original construction of the dwelling and any subsequent additions.
Losses not covered
- Structural defects or any pre-existing damage to private residence and domestic outbuildings.
- Wear and tear, rust, gradual deterioration, damage caused by vermin or insect infestation.
- Loss, destruction or damage caused by defective workmanship, materials and design.
- Damage to geyser valves and all pipes and other water apparatus (excluding geysers) caused by bursting or leaking.
- Cracking of the dwelling unless resulting from an external cause which is not excluded.
- Consequential or indirect loss of any kind including the unavailability of matching materials.
- Any loss or damage where the cost of repairs or replacement is within the policy excess.
Q: What is the procedure to lodge a claim?
A: If a claim arises due to an insured peril, you can contact our Claims Fulfilment Centre on 0860 123 444 Monday to Friday between 8am to 5pm.
Q: Who do I contact if I have an emergency outside of office hours?
A: Contact Home Assistance Services on share call number 0860 626 160. They are open 365 days a year, 7 days a week.
Q: What is the procedure to cancel the Homeowners Insurance Policy?
A: The policy must remain in force for the duration of the bond. If you require alternative Homeowners Insurance (to be insured elsewhere), you can request Home Loans to cancel the Home owners policy. However, you will be required to provide proof of your alternative homeowners cover to the Home Loans department.
Alternatively call us 0860 123 112 for assistance.
Q: What does the policy cover?
A: Damage to the physical structure of your private residence and domestic outbuildings, identified as the risk situation in your certificate, and where the structure is built in accordance with the National Building Regulations and constructed as indicated in your certificate. Note: This definition refers to a â€œprivate residenceâ€� and if the building/s is/are occupied for purposes other than domestic use, you should notify Standard Bank Insurance Brokers for the appropriate cover to be arranged.
Q: What is subsidence and landslip cover?
A: Subsidence is the gradual movement of the land from causes unconnected with the buildings. Landslip is the downward or sideways movement of slopping ground resulting from stresses and loadings exceeding the available strength of the ground. We offer limited subsidence and landslip cover, which cover you for any damages from ground floor level upwards.
Q: What is the procedure if the bond is cancelled and they want to continue with our Insurance?
A: If the bond is cancelled, please contact our Servicing and Administration department on 0860 121 141 from Monday to Friday between 8:00 am to 5:00 pm in order to issue a policy debited to your current account.
Q: How is the sum insured calculated?
A: The Sum Insured is based on the current replacement cost and not market value. The Sum Insured is increased annually based on information from Bureau of Economics Research as well as increases in materials and labour costs of various fixtures and fittings. However, it is your responsibility to ensure that you are adequately insured at all times. If you have made any renovations to your property, please inform us immediately on 0860 121 141, Monday to Friday between 8:00 am to 5:00 pm.
Q: Why are there 2 excesses for the geyser?
A: The first R500 is in respect of loss of damage to the geyser.
- Additional excess (accumulative to geysers)
- Additional R500 for loss or resultant damage, that is, loss or damage to the dwelling following the bursting, leaking or overflowing of the geyser.
The Homeowner's Comprehensive policy is not a maintenance contract. A claim will not be considered if the loss or damage was a direct cause of the property not being adequately maintained.
The following are some potential problem areas you should be looking out for in your home.
- IBR and corrugated metal roofs are secured by roof-screws and washers. With continual expansion and contraction these screws become loose. Periodic inspection and re-securing can prevent problems.
- Tile and slate roofs often slip out of position and have to be repositioned and secured.
- Ensure the gutters and valleys are clear of debris to allow the free flow of water, so that it does not wash back under the eaves and penetrate the building causing damage to walls and ceilings.
Pipes and geysers
- If you have ceiling insulation and you are situated in an area where the temperature could drop to zero, ensure that any pipes in the roof cavity are also insulated.
- In winter the insulation, to a large degree, prevents interior warmth from escaping into the roof cavity, thus increasing the chance of freezing. Insulating the pipes in your roof can prevent bursting and keep the water warmer for longer.
- Geyser expansion pipes and overflow pipes need to be protected from the elements to avoid freezing, which could result in a burst geyser.
- Know where the geyser stop-cock (control valve) is and ensure that it is accessible so that you can switch it off in an emergency.
- Check all exterior and interior walls and tiles for cracking. Exterior cracks allow water to penetrate, which can result in the paint peeling from the walls.
- Inspect all drainage systems on a regular basis to ensure the free flow of water and effluent.