Residental estate homeowners urged to not ignore theft risks

San-Mare Van Zyl, Head of Insurance Operations at MUA Insurance Acceptances.

Considered as the wealthiest private residential estate in South Africa, the majestic Val die Vie security estate in Paarl, Cape Town, was recently listed at the top of New World Wealth’s annual luxury estate survey, with Steyn City in Johannesburg coming in a close second. While many of these exclusive estates offer great security, it is important for residential estate homeowners to not neglect the risk of theft.

This is according to San-Mare Van Zyl, Head of Insurance Operations at MUA Insurance Acceptances, who says that one of the biggest risks for South Africans living in these residential estates is being too relaxed about security. “Sometimes these homeowners tend to not focus on the theft portion of the risk as they feel they are not exposed at all due to the estate’s security.” 

Val de Vie residential estate, for example, is the first residential estate in South Africa that uses biometric-access control measures, like thermal cameras that are less intrusive but still ensuring residents are safe and secure, she says. 

However, it is still important for residential estate homeowners to lock their doors and close their windows when they are not home and to ensure that cover for theft is included in their homeowners insurance policy.” 

Some of these estates are huge with big open spaces in between the houses, she says. “While you may feel safe in these estates, you are still living in South African where crime is a big problem. No matter where you live, criminals will always be on the lookout for an opportunity and any weak spot in the security system will be explored by them.” 

Criminals either gain access through insider information or they just find one spot in the perimeter fence which is not properly secured and they make their way in, she says. “Once they are inside the estate it is very difficult to catch them.” 

Furthermore, most of these estates give access to the public when big events are hosted there, such as polo events or golf days, says van Zyl. “This is a massive exposure in terms of security as crowds are entering the property and is it sometimes difficult to monitor security with more people on the property.” 

By having the appropriate security measures in place, homeowners can mitigate the risk of having an insurance claim rejected, she says. “Therefore, a thorough risk assessment should be conducted at the inception of the insurance policy. Not only does this allow for areas of weakness to be identified upfront, giving the client time to address these areas to enjoy full cover, but also it ensures the assets are fully covered for the correct value.’’ 

She continues to add that there is no difference in the underlying cover of the insurance when it comes to residential estates. “However, some insurance companies do offer tailor made products for those living in estates which will include products featuring additional cover or higher limits. In addition, some insurers might be more relaxed regarding security protections (burglar bars and alarm systems) when it comes to insure risks in security estates.” 

Van Zyl concludes by saying that it is important for residential estate homeowners to always be on the lookout to ensure that their home will not be a target for burglars and to ensure they are covered against theft, despite having great security measures.