Is your Home Insurance up to date? What to review each year

Home Insurance is too important to be treated as a “set and forget.” Whether you’ve bought new appliances, recently renovated, or seen increasing storm risks in your area, it’s vital to review your policy annually.

At Auto&General Insurance, we help South Africans just like you ensure their Home Insurance reflects their current needs – before disaster strikes. In this article, we’ll show you exactly what to check, why it matters, and how to avoid costly gaps in your Property Insurance cover. Unsure if your policy still protects what matters most? You’re in the right place.

More than a place – home is the heart of your story

Your home is more than bricks and mortar – it’s your haven. It’s where your life unfolds, where memories are made, and where your most treasured and valuable possessions are kept. From sentimental family heirlooms and pricey electronics to everyday essentials, your home keeps the things that matter the most. It’s also a reflection of your personality and priorities – your style, your layout, your lifestyle. In this way, your home becomes an extension of you.

It's also your safe place. In a constantly evolving and unpredictable world, your home is your sanctuary. But it’s not just about comfort – it’s about continuity. If something were to happen to your property, the effect on your lifestyle and security could be devastating.

Post-COVID, households have taken on more roles. According to IOL, 54% of South Africans either work in a hybrid model or fully from home, whether part-time or permanently. Many are also running side hustles or setting up small businesses from their living space. This growing trend means that our homes are no longer just places to live – they’ve become spaces where we build both income and futures.

That’s why it’s important to have the right Home Insurance through a trusted partner, like Auto&General Insurance. Regularly reviewing your policy ensures that your coverage keeps up with life’s changes, because when your property is properly protected, so is your story. To find out more about what Homeowner’s Insurance covers, read our helpful guide.

8 Items you need to review annually on your Home Insurance policy

Reviewing your House Insurance annually might not seem like an urgent task – until it is. Life changes, values increase, and your risk profile can change in ways you might not notice. A yearly check-in keeps your cover aligned with your current requirements. Here are eight key items to review each year:

1. Home contents value

Your home is constantly changing – upgraded appliances, new furniture, and expensive tech purchases add up. If your contents value isn’t updated, you risk being underinsured.

Example: You purchase a new smart TV and a 3-seater sofa worth R60,000. If your policy still reflects last year’s R200,000 contents value, your payout may not cover the full loss after a fire or theft. At least once a year, it's wise to recalculate the replacement value of your home contents.

2. Building replacement costs

Building costs and property values fluctuate. If your home has been extended, renovated, or if construction costs in your area have risen, your building sum insured may be outdated. Include all structural improvements, including solar panels, carports, and boundary walls in your updated value.

3. Specified high-value items

Insurers often require items like artwork, designer clothing, jewellery, or rare collectables to be itemised and valued separately. These need to be updated to reflect market values and new acquisitions. For example, failing to specify a newly purchased R80,000 engagement ring could leave you without cover if it’s stolen. 

4. Risk profile changes

Changes at home can affect your premium and the terms of your cover. , Installing a new alarm system, or even having a property vacant for extended periods, can all impact your risk.

Example: You install a CCTV system and electric fence—these security updates may qualify you for a reduced premium. Additionally, if you rent out your property as an Airbnb, failing to notify your insurer could void your claim.

5. Personal liability coverage

Personal liability protects you if someone is injured on your property or if you accidentally cause damage to a third party’s property. With increased activity at home, such as running a business or hosting guests, adequate liability cover is essential.

6. Exclusions and limits

Policies vary. Some may exclude claims such as flood damage or limit payouts for certain categories. Read the small print and check that the limits and exclusions meet your lifestyle and risk appetite.

A hypothetical scenario: Your policy only covers R30,000 for electronics, but your gaming setup exceeds that. You may need to increase your limits or take out additional cover.

7. Additional cover needs

Evaluate whether your lifestyle requires optional extras, including:

• Accidental damage cover

• Geyser and plumbing cover

• Portable possessions – handbags, laptops, phones

These are especially useful to have if you have kids or pets, travel often, or work from home.

8. Premiums and excess

Ask your insurer for a comparative review or shop around for good yet affordable insurance. If your risk profile has improved, you may find a more competitive premium or favourable excess terms with Auto&General.

7 Quick tips to complete your annual Home Insurance review

Keeping on top of your House Insurance doesn’t have to be time-consuming. These tips can ensure your policy matches your lifestyle and covers what’s most important so that you can enjoy the benefits of house insurance:

• Update your inventory: Log any new appliances, electronics, furniture, or valuables you’ve bought in the past year.

• Review policy documents: Revisit your policy to identify coverage gaps, exclusions, or outdated information you may have overlooked.

• Check cover amounts: Make sure your building and contents sums insured match today’s replacement costs.

• Note life changes: Let your insurer know about any renovations, added security systems, new tenants, or if you’ve started working from home.

• Document valuables: Take clear, date-stamped photos and store receipts for high-value items to simplify future claims.

•  Compare cover options: Look at similar policies from your provider or competitors to ensure you’re still getting the best deal.

• Speak to your insurer: A call can clarify any uncertainties, reveal savings, or find optional extras you didn’t know you needed.

Get a Home Insurance quotation

Want to protect your home with confidence? Get a personalised Home Insurance quotation from Auto&General Insurance. It only takes a few minutes, and you could save thousands in the long run. Get peace of mind today.

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Sources:

1 IOL: Less than half of SA workers have returned to the office

Disclaimer: The information in this article is provided for informational purposes only and should not be construed as financial, legal, or medical advice.