The MiWay Home Contents Insurance protects household belongings from theft, water, wind, and storm damage, covering not only the contents of a house but also outbuildings. Outbuildings, such as domestic quarters, garages, garden cottages, and storerooms, are covered by the home contents insurance. The covered home contents are valued based on their perceived value, with the policyholder bearing the burden of covering the actual cost.
The MiWay policy covers home contents at a registered address, and coverage against theft may require the installation of required devices within a specific time frame. To file a theft claim, the installed devices must be operational. The MiWay Home Contents Insurance offers policyholders comprehensive coverage for belongings in a home and outbuildings for the amounts they deem appropriate.
Individuals can obtain coverage for a variety of incidents after successfully subscribing to the product.
What the MiWay Home Contents Insurance Cover
The MiWay Home Contents Insurance covers the following incidents:
- Loss or damage to household contents caused by fire, explosion, or earthquake. If an explosion occurs while the property is vacant, illegally occupied, or abandoned, the coverage becomes null and void.
- Loss or damage to home contents caused by theft or other intentional acts. Money stolen from home is covered up to a maximum of R300.00, coins up to R750.00, and personal documents up to R300.00.
- Loss or damage to home contents caused by wind, hail, flood, or snow.
- Damage or loss to home contents caused by the leaking and bursting of geysers, water supply tanks, cisterns, heating installations, and water pipes that are a permanent part of the building.
- Damage or loss of home contents caused by aircraft and articles dropped from them, vehicle impact, impact of falling trees cut by a professional tree cutter, and animals other than domestic animals.
- Accidental damage to television sets, mirrors used as furniture, and glass used as furniture.
- Any damage to household contents caused by a sudden, unexpected shift in the land beneath the buildings.
- Personal liability where the policyholder or members of the household are legally responsible for accidental death or accidental damage to third-party property.
- Personal liability extends if the policyholder is a tenant and covers the policyholder for any amount that he/she is legally liable to pay a landlord arising from accidental loss or damage to the rented building property.
When purchasing MiWay Home Contents Insurance, the policyholder can also get additional coverage at no additional cost. Additional benefits include:
MiWay Home Contents Insurance Additional Cover
- Food deterioration caused by an unplanned power outage or breakdown of a fridge or freezer as a result of an insured event is covered for R2,000.00.
- Fraudulent use of a credit card, cash, or account card is covered up to R1,000.00.
- If a domestic pet is injured in a car accident, veterinarian costs are covered up to R600.00.
- Locks and remote keys are insured for R1,000.00 if lost or damaged.
- Guest belongings and garden furniture theft are each covered for R3,000.00.
- Theft of laundry from the washing line and domestic employees’ belongings are covered for R2,000.00 and R1,500.00, respectively.
- MiWay Home Contents Insurance provides policyholders with comprehensive coverage for a wide range of incidents and additional benefits at no extra cost.
Aside from additional covers, the MiWay Home Contents Insurance also comes with optional benefits, which are detailed below.
MiWay Home Contents Insurance Optional Add-Ons
Optional add-ons cost money and are intended to supplement home contents insurance coverage. Here are some optional extras that can be added to your home contents insurance policy:
Extended Theft Cover
Extended theft cover provides coverage for home contents if the building remains unoccupied for more than 60 consecutive days. This option provides cover if there was visible forced entry to the building when making a claim for theft.
Garden and Leisure Equipment
The garden and leisure equipment cover items designed to be left outside a home, such as braai equipment, garden furniture, and pool cleaning equipment. These items are covered for loss or damage when left outside the main house or outbuildings.
Advantages of MiWay Home Contents Insurance
- The cover can be subscribed to fully online.
- Premiums for the product are reasonable and very competitive.
- Add-ons can be added to the product to enhance it.
- Additional cover for home contents does not require an additional premium.
- The product covers fire-related damages and explosions.
- There is no age restriction when obtaining this insurance product.
- Money and documents can be covered up to a certain maximum.
- The policyholder can choose the cover amount that best resembles the value of the belongings.
Disadvantages of MiWay Home Contents Insurance
- There is no cashback benefit for being claim-free.
- The plan does not provide cover if the house is used as a commune for three or more unrelated people living together.
The MiWay Home Contents Insurance offers comprehensive coverage for personal belongings, as well as optional add-ons. This product covers the majority of the incidents that a home contents insurance policy would cover, as well as money and documents, which is a plus. The only drawback of the policy is that there is no cashback benefit for the policyholder.