The Zimbabwean Gardener Issue 12 Autumn 2015 High res | Page 49

Advertorial

Homeowners Insurance
Many properties in Zimbabwe today
remain uninsured or insured at the wrong
value. Many people take a chance thinking
that their house will never burn down, but
burn they do, and consequences of not
being insured correctly are disastrous.
Burning is rare but what is very common is theft of gate
and borehole motors, trees falling and damaging walls,
and water damage from taps that have been left on. It is
surprisingly simple and inexpensive to insure one’s house
correctly.
Irrespective of location, which is important for resale,
rebuild values are generally the same wherever you live.
Fancy finishes can greatly increase rebuild value, but
we have been advised by reputable builders, the correct
rebuild value is $1,250 per square metre for a house.
Domestics’ quarters, garages and so on are much less than
that but need to be included. For example, a home of 275
square meters at $1,250 per meter should be insured for
$343,750.

Does the homeowners insurance cover include
furniture and other objects of value?

On the same policy, you can also insure your contents for
the same perils as your building. For example, $30,000
is enough to cover your furniture, but every home, like
the owners, are different, we will come to your house to
establish the correct replacement value. Jewellery needs to
have a recent valuation, and if you insure with us, we can
arrange a free valuation for you, then explain the options on
how best to insure it. Other expensive objects in the house
need to have ‘proof of value’, and can be specifically noted
or excluded on the policy. The choice is yours.

How often should you get your house revalued for
the insurance?
Once we have the correct ‘size’ of your house we will not
need to see it again unless you add to it, so once we get it
right, it stays right. If you buy a new TV or new lounge suite,
you should let us know so we can increase home contents
cover if nec