Hollard Home Contents Insurance Review 2024

Hollard Home Contents Insurance is an insurance policy that covers the contents of a specific home. The product protects your […]

Hollard Home Contents Insurance

Hollard Home Contents Insurance is an insurance policy that covers the contents of a specific home. The product protects your home’s contents against loss or damage caused by insured events. Among these events are:

  • Fire, lightning, and explosion.
  • Weather, including storms, wind, snow, rain, hail, or flood.
  • Leaking or overflowing of water from geysers, tanks, pipes, or gutters.
  • Earthquake.
  • Impact on the building by external forces, for example, a vehicle.
  • Theft or attempted theft.
  • Malicious damage
  • Accidental damage

The policy also covers the cost of jewelry and watches kept at home by the policyholder. The policy does not cover jewelry or watches worn outside the home or while on vacation. Covered jewelry and watches must be insured for their full value or risk being underinsured under the policy.

The cost of jewelry and watches can be determined by using a South African Bureau of Standards (SABS) accredited evaluator. If the jewelry and watches are still new, the cost of those items can be used as the cover amount.

The Hollard Home Contents Insurance covers more than just jewelry and watches; the product also includes some free extras. We discuss the Hollard additional cover for its home contents below.

Hollard Home Contents Insurance Additional Benefits

Additional benefits are subject to the maximum cover that the policy specifies. The additional benefits that come with the home contents insurance are listed as follows.

Protection of the home

The Hollard Home Contents Insurance covers the cost of hiring a security guard as part of the home’s protection. Hollard pays a reasonable amount for the costs of hiring a security guard to guard the home if a covered event occurs, and security is required.

Keys, locks, and remote control units

Locks, keys, and remote control units are also covered by the Hollard Home Contents Insurance. Hollard covers the necessary and reasonable costs incurred due to the loss of keys and remote control units or damage to a home’s locks.

This coverage is also provided if the policyholder suspects that an unauthorized person has obtained duplicate keys.

Important documents

Important documents are covered by the plan and are covered for the actual costs of replacing them. Documents that are covered by the insurance plan include:

  • Identity document, driver’s license, and passport
  • Valuations for your home and home contents
  • Wills and the land title to your home
  • Marriage and birth certificates
  • Contracts and agreements
  • Education certificates
  • These documents are covered for any loss or damage.

Gifts

Items purchased by the policyholder for someone else are covered by the policy and must be kept inside the home. Hollard covers gifts for any loss or damage that occurs as a result of a covered incident.

Accidental Damage

The Hollard Home Contents Insurance protects any household valuable from loss or damage caused by incidents covered by the policy. However, television sets and other similar audio-visual equipment are not covered by the product. The policy also excludes any glass or mirror glass that is part of any furniture.

Power surge and Electrical Goods

Hollard provides coverage for electronic goods at a covered address against power surges. It covers accidental damage to all electrical and electronic equipment due to an electrical power surge on the distribution line of any authority.

Property of Guests and Domestic Employees

Hollard Home Contents Insurance covers the belongings of guests and full-time domestic employees. The cover is for loss of or damage to home contents caused by an insured event.

Aside from the policy’s additional benefits, there are optional benefits that the policyholder can add to the plan at an additional premium. These optional benefits are discussed below in detail.

Hollard Home Contents Insurance Optional Benefits

Optional benefits incur an additional premium when added to the policy. Here are the optional benefits that can be added to the Hollard Home Contents Insurance:

Accidental Damage to TVs and Glass: Cover for accidental damage to TVs and similar audio-visual equipment, glass, or mirror glass that forms part of any articles of furniture.

Home Improvement Bundle: Cover for the theft of power tools, temporary removal of fixtures, and theft of building materials and fittings.

Garden and Outdoor Bundle: Cover for gardening equipment, machinery, and generators against theft, even if due to forcible and violent entry that is not visible. Optional cover for garden furniture and playground equipment, including children’s play equipment, garden statues, furniture that is not attached to a building, ornaments, and plant containers.

Home Business Bundle: Suitable for those who work from home or run their business from home. This product can be made available to full-time or part-time home business owners. It covers loss or damage or legal liability or office furniture, office equipment, stock in trade, stock in transit, legal and contractual documents, VIP concierge desk, home business client’s liability, and business records and electronic data.

Advantages of Hollard Home Contents Insurance

  • Several optional benefits can be included in the cover, and additional benefits do not require an extra premium.
  • Policyholders can get the actual cover amount of the home contents insured, and valuables such as jewelry and watches can also be covered under the plan.

Disadvantages of Hollard Home Contents Insurance

  • The insurance product does not come with a cashback benefit, and there is no payment holiday for those who are financially struggling.

Conclusion

The Hollard Home Contents Insurance policy provides comprehensive coverage and includes some add-ons that the policyholder can use to enhance the product. Except for those related to negligence or contents intended for a business, the policy has few exclusions.