BY Donald Chidoori
It is often a nightmare for people when thieves get away with your valuables, and you lodge a police report in the hope that the police will nab the culprits and recover your valuables. Most often than not police fail to trace the valuables leaving most people in a lurch. However, householders insurance can come to your rescue and lower the financial pain associated with replacing your valuables.
Householders insurance is an arrangement in which you pay a registered insurance company money to cover moveable contents of the home, and they pay you money when your household goods are stolen or damaged.
To help understand householders insurance and to arm the public with proper information to simplify their decision making process and to have a peace of mind, here are 6 things you absolutely need to know about householders Insurance.
# 1 It pays for rental in alternative accommodation
After the devastating floods that hit most parts of the country, residents in Chitungwiza, some parts of Harare and in various parts of the country had their properties destroyed. As a result many people were forced to move out of their homes. Floods are some of the things we don’t think about until they happen, however with householders insurance even if you are renting, if something happens to your property inside the house and or you are forced to move out some insurance companies will pay rental in alternative similar accommodation.
At least you will have an alternative place to stay rather than moving back into your mother’s or father’s house.
# 2 It Pays for theft of clothes from your washing line
A lot of people go to the police to report about clothes stolen from the washing line in the hope that they will be able to recover them. However, more often than not the clothes are not recovered. Actually not so long ago my friend of many years was depressed after thieves nipped from the washing line the shirt his wife bought him for their fifth wedding anniversary together with a number of trousers and shirts. While Householders insurance could not have helped him recover the wedding anniversary gift it would definitely have lessened the financial cost that was associated with replacing the clothes stolen from the washing line because Householders insurance covers theft of clothes from your washing line.
# 3 Pays out Money lost due to burglary
Nowadays with the liquidity crunch, many people are keeping cash in their homes. This has seen an increase in cases of home burglary. Even before that there were thieves who were notorious of ‘fishing wallets and cell phones’ through windows when people were asleep or even in the midst of the day such that popular Dancehall Artist King Shaddy, even composed a song ‘Danmore’ to highlight this social ill. Householders Insurance brings some relief to people who lose money due to burglary, the policy will actually payout money lost due to burglary in the insured residence.
# 4 It pays for deterioration of foodstuff in the fridge due to power cuts
With the introduction of the prepaid electricity by ZESA there was an improvement in the supply of electricity. However there is still load shedding and some places might go for days without electricity. When this happens, people are then forced to move their perishable products from their fridges to their relatives ‘and friends’ places. Those without these alternatives see helplessly their food stuffs going bad, and are forced to throw them away and go off budget trying to replace the food. But under Householders insurance cover if your stuff goes bad in your refrigerator due to power cuts you can actually claim and get a payout of a percentage of the total sum insured.
# 5 It replaces lost keys
Most people lose their house keys due to burglary or misplacing them. A few years ago my wife was a victim of a robbery at Chicken Inn, Angwa Street. While she was busy packing the food she had bought her Hand Bag was stolen together with the keys and the cash we had. We had to go out of our way to find a lock smith at around 7pm, had to borrow funds to pay the locksmith and after that we were left with an unplanned debt. With householders insurance if you lose your keys which sometimes happens the policy pays out 1% of total sum insured.
# 6 makes cash payouts in cases of accidental death in your insured residence
A lot of people, have lost their lives due to accidental death like fire in the House, not so long ago there was a song which went viral about a mystrerous explosion which killed 5 people in Chitungwiza. Speculation was that the explosion was caused by some supernatural powers associated with goblins and lightning-manufacturing. So if there is a death relating to an event for example your house goes up in flames and unfortunately someone dies, your child dies or you die the policy actually pays out to a minimum of US$5000 for someone over 18 years and US$2500 for someone below 18 years.