Personal insurance
All about buildings insurance
Looking for top-notch cover for your home and outbuildings? The king’s royal buildings insurance has you covered.
All about buildings insurance
Looking for top-notch cover for your home and outbuildings? The king’s royal buildings insurance has you covered.
King Price buildings insurance: In a nutshell
Buildings insurance protects the physical structures on your property. That means your home, outbuildings, and other fixtures are covered against damage.
What’s covered under buildings insurance
With buildings insurance, you’re covered for:
King Price buildings insurance: In a nutshell
Buildings insurance protects the physical structures on your property. That means your home, outbuildings, and other fixtures are covered against damage.
What’s covered under buildings insurance
With buildings insurance, you’re covered for:
Fire
Explosion
Acts of nature
Malicious damage
Animals (not domestic animals & pets)
Aircraft and articles dropped from them
Cars
Falling trees (but not while being felled)
Power surges and dips
Theft and other intentional acts
The king offers a little more
The king offers a little more
Geysers and water pipes
Fire brigade charges
Temporary accommodation
Subsidence
Geysers and water pipes
Fire brigade charges
Temporary accommodation
Subsidence
Understanding under-insurance
If you insure the building for an amount less than its replacement value, we’ll then pay your claim out proportionately.
So, if the value of your building is N$400,000 and you only insure it for N$200,000, then you’ll only be compensated for 50% of your loss.
Understanding under-insurance
If you insure the building for an amount less than its replacement value, we’ll then pay your claim out proportionately.
So, if the value of your building is N$400,000 and you only insure it for N$200,000, then you’ll only be compensated for 50% of your loss.
What's not covered under buildings insurance
Unfortunately, cover doesn’t extend to:
What's not covered under buildings insurance
Unfortunately, cover doesn’t extend to:
Non-compliance with building regulations
Scorching
Thatch roofs
Sewerage/waste pipes
Unoccupied buildings
Non-compliance with building regulations
Scorching
Thatch roofs
Sewerage/waste pipes
Unoccupied buildings
Insure your buildings for their true value
The insured value on your schedule is the maximum payout for a buildings insurance claim, less your excess and any dual or under insurance.
That’s why your buildings need to be insured for their replacement value. This is what it would cost to repair or rebuild with new materials right now, including extras like outbuildings, walls, and your swimming pool.
The replacement value needs to include these possible extra costs:
Insure your buildings for their true value
The insured value on your schedule is the maximum payout for a buildings insurance claim, less your excess and any dual or under insurance.
That’s why your buildings need to be insured for their replacement value. This is what it would cost to repair or rebuild with new materials right now, including extras like outbuildings, walls, and your swimming pool.
The replacement value needs to include these possible extra costs:
Professional and municipal fees