Alexander Forbes Insurance offers to beat your residential cover or pay you R1000

Alexander Forbes Insurance (AFI) this week announced a R1000 payback incentive if they cannot beat your existing residential building cover. The offer is available to prospective clients who have an insurable interest in the building for which a quotation

To allow an AFI Sales Consultant to produce a quotation and present the quotation to the prospective client, information of the existing cover is required.  This includes:

• Current insurer / financial institution.

• Period of current insurance active on property to be quoted.

• Full physical address where property is situated.

• Value for which building is currently insured; (based on information on active schedule)

• Existing claim excess amount applicable on building insurance.

• Claims history on property.

• Information of any additional cover /benefits on existing policy related to building cover.

• Copy of existing policy schedule which clearly states all the benefits and fees in terms of the existing building insurance cover.
 
Alexander Forbes Insurance residential building cover provides full Accidental Damage cover rather than the usual Perils cover provided by most insurers.  (This accidental damage cover is up to the full sum insured and is not limited to a lower amount.)

All causes of damage are covered except those that are listed as exclusions.

For example, losses that are covered under this policy but not necessarily by other policies are:

• Damage to electrical installations by power surge; (not limited to lightning damage)

• Damage to fixtures such as fitted carpets by spillage of paint, oil or other liquid.

• Damage to roof or ceiling by foot traffic; (workman falls through roof)
 
• Someone falls off roof and pulls gutters off while falling.

• Sudden impact – not limited to aerial devices or falling trees - could be as simple as someone dropping something!

• Boulder rolling down hill demolishing or damaging building.

• Damage by falling trees / branches if they are being felled.

• Expensive fixture pulls out of wall and smashes.       
       
Other benefits

• Limited subsidence and landslip cover - matches what is normally offered by bondholder controlled insurance.  We also offer Wide Form subsidence cover as an option.

• The necessary costs of temporary protection measures to prevent further loss or damage if something is damaged – up to R10 000 (R15 000 Envoy)

• Essential alterations to buildings following permanent wheelchair disability of insured and family (not accumulative for more than one person) – up to  R50 000 (R100 000 Envoy)

• Removal of fallen trees where there is no damage to the buildings up to R5 000 per contract year (if there if damage to the buildings by fallen trees the removal is covered up to the 10% limit allowed for under the debris removal extension)

• Tracing of leaks – the reasonable cost to remove and replace part of your building in order to locate the source of a water leakage from water tanks or pipes.

• Rent receivable or Rent payable – up to 25% of your sum insured.

• Cost of preparing a claim – up to R5 000 (R10 000 Envoy)

• Free escalation of sum insured during the year of insurance.
 
“Applying for Alexander Forbes Insurance residential building cover is a win-win for all.  So if you have an insurable interest in a residential property, make sure to take advantage of the special promotion offering you real savings on your existing insurance or R1000 payback,” said Ilona Hilditch, Executive:  Marketing and Advertising.