Get all the help you might need at home or in a medical emergency with our Assist Benefits when you have Budget Building Insurance.
Your house is covered for a wide range of natural occurrences, including floods, storms, earthquakes, fires, lightning, falling trees, and more.
Extend your homeowners liability cover to R5 million, R10 million, or R20 million if our standard cover amount isn’t quite enough for you.
When you take out a home loan, the last thing on your mind is what might happen if you were to pass away. But in between all the excitement and terror of taking on such a big responsibility, it’s important to consider who will make the repayments if you no longer can. That’s where mortgage protection cover comes in.
Unlike many other types of insurance, mortgage protection is very specific. It covers just one thing – your home loan.
Most people take out their home loans over a period of 20 years. A lot can happen in that time! It’s important to make provisions for your loved ones in the event you pass away or become disabled and can’t work.
Mortgage protection will settle the outstanding debt on your home loan so your loved ones aren’t suddenly burdened with this extra financial commitment. This also leaves them with an incredibly valuable asset that belongs entirely to them – it’s a roof over their heads no matter what happens.
If you don’t want to add yet another type of insurance to your monthly expenses, there is another option for you – increase your life cover. If your life insurance can cover your bond and provide enough monthly income to your loved ones to live comfortably, you don’t need to take out mortgage protection cover.
Life insurance is also more appealing to many people because their loved ones can use it to pay off numerous debts – not just the home loan.
When would I need Mortgage Protection Cover?
If you own a home and have any dependents at all, whether it’s a spouse, children, or a parent, we recommend you take out insurance that will cover your outstanding home loan should you pass away or become permanently disabled. It’s comforting knowing that if something happens to you, your family will be OK.
Being held liable for an accident in your home could leave you in financial ruin. Luckily, there’s homeowners liability insurance.
We can give you an accurate Building Insurance quote in minutes. Find out how we assess your risk when you use our building insurance calculator.
Your home and office buildings might seem like they’d need similar insurance, but there are fundamental differences between the two.
Add Ons
You can choose to add your geysers, boilers, and solar panels to your Budget Building Insurance so you’re covered if they burst or break.
One Budget Policy
Take away the admin in your life and make one payment by insuring your home and the contents within it under one Budget policy.
Our Home Contents Cover pays to replace the food in your fridge and freezer if load-shedding strikes and your food deteriorates.