Insure the valuable things in your home with our comprehensive household insurance.
Household insurance mean different things to different people. Most importantly it might mean peace of mind. We at ALPHA believe in the philosophy of an informed client. Household insurance, just like car insurance, falls under the short term insurance category. This simply means the Short Term Insurance Act is applicable to these type of insurances. There are a number of insurances that fall under short term insurances category, but we will not deal with them for the purpose of this paragraph.
Household insurance, just like car insurance, might include a variety of things, for example: house contents, which are loose items like furniture and accessories, it can also include fixed assets such as the building itself, the geysers, heaters, however most clients confuse house insurance for the building and for the household with that which is mostly sold by banks, which is a credit life assurance. This leads to a lot of confusion because when there is a break in into the house, and one wants to submit a claim, that claim will not be paid because the insurance is not for household but it is for the credit itself, which means the debt that the customer owes the bank.
Most of these credit life assurances are sold to clients without medical underwriting and most of them are called term policies, which means after the life of the bond comes to an end, the policy also ceases. Or put differently, they are also sold as decreasing life policies, where the policy will only pay the outstanding amount of the liability. These credit life assurances are also and applicable to car insurances. Hence we at ALPHA believe that buying any insurance product without proper understanding or having received qualified financial advice, leads to misfortunes and misery.
- Credit life assurance
- Building insurance
- Household contents insurance
- Third party liability