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Flood Damage Can Be Devastating – Are You Fully Covered?
Should I insure my older vehicle?
5th September 2017
The dilemma of being under-insured in the event of a disaster.
26th September 2017Flood Damage Can Be Devastating – Are You Fully Covered?
The events taking place in Houston, Texas at the moment are devastating to watch and shocking for all involved. The massive Hurricane Harvey that swept through Texas on Friday the 29th of August has left thousands of people stranded with nowhere to go. The damage from this hurricane is estimated to cost about $35 billion, similar to what hurricane Katrina cost in 2005.
This financial damage is massive and will leave many in debt for years to come, with an estimated two out every 10 homeowners being insured for flood damage. This leaves a vast amount of people without proper cover and little way to get back what has been lost, financially.
This leads us to this article in which we discuss the importance of household insurance, particularly in the event of natural disaster. The chance of hurricanes and dramatic natural disaster taking place is South Africa is certainly not as high as other countries, but the threat is still there. Read our article on the fires in Knysna and the effect of this.
Natural disasters occur in various different forms, and not necessarily always on a large scale. Heavy rains can very easily result in a flooded home or building. The smallest fire can turn into a large-scale disaster if not managed correctly. Heavy winds and hail can leave thousands of Rands worth of damage to cars and homes. All of these are very real occurrences in South Africa.
According to a 2015 South African Disaster and Risk Profile stats report, the frequency of flooding in South Africa sits at 37.9%, followed closely by heavy storms at 33.3% and wildfires at 13.6%.
There is never any guarantee for our future and what could happen. Our only guarantee is having the correct insurance measures in place to cover us against any natural or unnatural disasters that occur.
Our household insurance gives you the financial cover for the cost of replacing items that have been lost or damaged through acts of nature, as well as through theft.
Don’t be left stranded or unable to replace valuable goods because of a flood or other natural elements. Chat to one of our qualified consultants today about the right cover for you and your family.