Buying your first home is one of the most life-changing events and for some, it's a major milestone as an adult. It’s an important asset that needs protecting in the form of home insurance.

How does home insurance work?

You pay an insurance company a regular amount, called a premium, to cover you against unforeseen events such as theft or a fire which can cause major setbacks. How much you pay depends on what you insure and the risk it will be exposed to. If anything you insured is damaged, lost or destroyed - and your claim is approved - then your insurance will help to replace it or pay for repairs.

What’s the difference between household contents insurance and homeowner’s insurance?

Household contents insurance covers everything in your home. Homeowner's insurance covers the structure of your house with the insured amount usually equal to the cost of rebuilding.

Wondering how much your house contents are worth? Use our Home Contents Insurance Calculator for assistance in estimating the total value of your contents. When you're ready you can request a quote here.

Include personal liability and all risks in your home insurance

Imagine a repairman at your home is bitten by your dog and decides to sue you for damages. Would you have the funds available to pay him out? Personal liability insurance provides cover in the event that you are sued.

All risks insurance protects items you could lose away from home, like cellphones, laptops, or jewellery. Personal accident insurance provides cover where you or family members become disabled or die as a result of an accident. Old Mutual allsure lets you cover personal liability  and all risks along with your home and car under one comprehensive policy.

Tips for home insurance

You can buy insurance from an insurer or through a specialist like a broker who will give you advice and provide you with quotes. Either way, be honest and accurate. If not, you might end up with a rejected claim. Insure for less than the real value of anything and the insurer might pay out only a percentage of your cover.

Pay premiums promptly so your policy doesn't lapse or get cancelled. With some insurers you may be able to obtain a lower premium by increasing your excess - the amount you're willing to pay yourself. Improve your home security - less risk means lower premiums.

If you have to claim, do it as soon as you can and report accidents or crimes within 24 hours.

There's a lot to consider before you insure. An Old Mutual adviser has the expertise to help you get the best possible cover. Speak to an adviser today to help you find out more and to get a home insurance quote.