Providing You With The Vital Protection You Need For Your Property.
What Is HOC Cover?
When you take out a bond for the purchase of your home, the banks will insist that whilst you have a bond in place you insure your home against any unforeseen catastrophe or accidental damage to the building. It is a policy which specifically covers the building structure of a home against accidental loss or damage caused by fire, theft or natural disasters like flood. This insurance is commonly called “HOC Insurance”.
Accepted By All Major Banks (ABSA, FNB, Nedbank, Standard Bank)
Even if you have paid off your bond, it is important that you keep your HOC Cover in place in case of any unforeseen circumstances. By insuring your home with HOC cover you have peace of mind, should an unforeseen catastrophe occur.
What Makes This Product (Underwritten By Alexander Forbes) Unique?
The policy covers personal and extended liability cover for R10 million.
Extra R70 000 to revamp a home for wheelchair access in the event of Disability.
The policy covers for the tracing of water leaks.
The excess on the policy is R750 and there is no excess if the geyser is being repaired.
Covers damage to mechanical and electrical parts, such as alarms, gate motors etc.
All properties can be covered including non-standard (Wooden, Thatched roofs etc.)
Alternative accommodation if your home is uninhabitable due to unforeseen insurable events.
Against What Events Am I Covered?
Storm, hail, snow, floods, wind, earthquake
Fire Lightning or explosion
Malicious damage, Theft, Impact
Accidental breakage of fixed glass, mirrors or sanitary ware
Accidental damage to sewerage, water, gas, electricity
Riot and strike insurance (Sasria)
It is important to ensure that the property is adequately covered at the correct replacement value. Cover will also automatically escalate with inflation annually, however it is up to the insured to make sure that the replacement value is correct at all times.
The Shackleton Life policy has been designed in conjunction with Alexander Forbes who Underwrites the Shackleton Life HOC policy.