A house is our pride and the owner's delight. It is one of the most valuable property owned by an individual. Even the owning of a small apartment brings immense pleasure to an individual. It is not necessary to own luxurious bungalows or lavish palatial palaces. Each individual knows his/her capacity and buys a house accordingly. Standard bank realizes how special is your house for you and that is why it offers protection program called the Standard bank home loan insurance to protect you and your house from any kind of damage. The bank offers a number of insurance programs in order to ensure peace of mind and unstrained burden of unforeseen events.
Standard Bank Insurance Policy
The insurance is automatically arranged by the Standard bank after you register a bond with the bank. The property is completely insured for the time period agreed in the bond and written in the agreement. This duration is chosen by the customer and agreed upon by the insurer or the brokers. After completion of each year the value of the house will be increased and calculated by the bank. You have to keep in mind the exact dates agreed by both the parties as the increase in the property value will also cause an increase in the insured value. The bank officials however, will let you know the payments as the price increases. Lets look at the events against which insurance policy will be acceptable.
Standard Bank Home loan protection plan
Standard Bank Home loan protection plan cover the debt on your home loan upto R810 000 in the event of :-
- Dread Disease
- Permanent Disability
Standard Bank Insurance Claims
The Standard bank insurance can claim against any of the following damages or destructions caused to your property.
- Fire, explosions, lightning
- Storm, hail, wind, flood, snow
- Theft or robbery of any kind
- Riots or strike insurance
- Leakage, bursting, overflowing of water tanks
- Accidental breakage of fixed equipments such as glasses, satellite dishes, mirrors
- Removal of trees and a compensation of R2,000 if they have fallen on your property damaging your assets
- Public authority requirements
- Building operations
Standard Bank Insurance Contact Details
You may contact the bank officials directly in order to apply for an insurance program. The insurance officials can be contacted on their contact numbers 0860 121 141 and 0860 123 444. The emergency helpline number of the bank is +27 11 541 1390.
Standard Bank Insurance Services,
4 Ellis Street,
Gauteng – 1709.
You can log on to their official website for more information on Standard bank home loan insurance