OUTsurance buildings insurance covers buildings and their fixtures and offers a 10% cash back on premiums after 3 claim-free years. The premiums for OUTsurance buildings insurance are guaranteed to stay the same for the first 12 months. Even if you make a claim during the period, your premiums are guaranteed.

The OUTsurance buildings insurance allows policyholders to supplement their buildings insurance with personal liability insurance. Personal liability insurance protects the policyholder and anyone between the ages of 14 and 70 who lives in the insured buildings. The product provides R25,000.00 in coverage for accidents that result in death or disablement.

The excess payment on OUTsurance buildings insurance is a fixed amount. The excess amount is the same whether the claim is high or low in value. Cover also include accidental damage to glass, sanitaryware, and utility connections between the home and the municipal supply.

OUTsurance buildings insurance allows policyholders to supplement their buildings insurance with additional coverage. Extras available for purchase include:

• Home Contents Insurance, 
• Portable Possessions Insurance, 
• Legal and medical assistance, and
• Exclusive extras for women

The OUTsurance buildings insurance covers a wide range of events and has its own set of limitations. Below, we discuss what the insurance product does and does not cover.

What the OUTsurance Buildings Insurance  Covers

Loss or damage caused by

• fire 
• Explosion and earthquake 
• downward movement of land resulting from natural shifts or human activity causing structural damage to the building insured. 
• wind, thunder, lightning, storm, hail, flood, or snow. 
• bursting or overflowing of water heating systems, water supply tanks, cisterns, and pressurised water pipes forming a permanent part of the buildings.
• Accidental damage to fixed glass and sanitaryware, sewerage, gas, electricity, and telephone connections between the building and the public supply or main. 
• theft and intentional acts. 
• a power surge and dips. 
• Loss or damage occurring during construction or alteration caused by an incident that is claimable.
•  Temporarily accommodation
• Personal liability as a homeowner and liability to domestic employees. 

What the OUTsurance Buildings Insurance doesn’t cover

Loss or damage 

• Due to intentionally by the policy owner or any member of their household or their tenant or a lawful occupant, 
• Which occurs with the policy owner’s knowledge or consent. 
• Loss or damage caused by scorching. 
• Damage to retaining walls unless the design and construction is according to structural engineering specifications. 
• Structural damage due to:
  • Scratching, chipping, cracking, denting, biting, tearing or dirtying, 
  • A lack of maintenance, 
  • Construction, alteration or repairs, defective workmanship or materials,
  • Defects in design or construction of the building, 
• There is no cover for theft, attempted theft, fire and explosion loss or damage, and if accidental damage of home contents were stored in an illegally occupied building.
•  The cover doesn’t include theft, accidental damage, and loss or damage of home contents due to fire or explosions in an empty or vacant buildings. 
• Damage directly or indirectly caused by settlement, shrinkage, or expansion of soil due to change in moisture content caused by extreme weather conditions. 

OUTsurance Buildings Insurance Benefits

Clients who purchase OUTsurance Buildings Insurance receive a cash refund of 10% of their premiums. Customers must not skip premium payments for three consecutive years and must be claim-free to be eligible for the cashback bonus.

 OUTsurance covers emergency roadside and home assistance at no extra cost. Home and roadside assistance are available 24 hours a day, 7 days a week throughout South Africa. Clients receive assistance with car breakdowns caused by a flat battery, a flat tire, or other minor issues. OUTsurance will cover the cost of towing and vehicle storage. 

If the breakdown occurred more than 50 kilometres from home, overnight accommodations are provided. The annual limit for roadside assistance is R5,000.00, with a maximum of two incidents per vehicle. If your limits have been exceeded, assistance can be dispatched to you; however, any costs incurred will be your responsibility.

Help@Out will allocate qualified locksmiths, electricians, plumbers, tree fellers, beekeepers, builders, or glaziers to your location as soon as possible. If an insured incident compromises your security, a security guard will be dispatched to your home. Home assistance provides R5,000.00 per year of coverage and a maximum of two incidents per noted address.

The OUTsurance Buildings Insurance premiums are guaranteed not to change for a period of 12 months. Even if you file a claim with your building insurance, the 12-month period will not be altered. OUTsurance will fix your excess amount regardless of the size or value of your claim.

Advantages

• There is cashback when you are claim-free for a certain period.
• With help@out, clients can get access to professional services should they require help at home such as locksmith services, plumbers, etc.
• The product offers cover for different types of occurrences.
• Temporary accommodation is given if a coverable incident affects your dwelling.
• Cover amounts can be optimised according to your individual cover needs.
• Benefits can be added to enhance the selected product.

Disadvantages

• There is only one product available to choose from.

Conclusion 

Besides the Buildings Insurance Benefits discussed in the benefits section, the product further comes with the following benefits:

• Approved partners benefit – that provides a list of services providers so that repairs can be done ASAP, 
• Glass cover – cover for accidental damage to fixed glass and sanitaryware. 
• Lightning surge protection – protects home devices from the effects of power surges. 

The buildings insurance from OUTsurance offers more wins than losses to clients. The product is surely there to benefit both the client and the business which makes it a win-win situation for both parties involved.