Also known as House Owners or Home Insurance… 

Building insurance is an insurance policy that covers the financial cost of repairing or rebuilding damage to the physical structure of a property in the event of damage caused by an insurable peril. This includes the roof, floors and walls, as well as any fitted or permanent fixtures (Garage and gate motors, air cons, stove, oven etc.)

The insured amount must calculated at the rebuild cost of the main building, carports and other “roof structures”, outbuildings, paving, swimming pool, ring wall etc.

Insurable perils under this extension on most policies are Fire, Explosion, Storm, Wind, Water, Floods, Snow, Hail, Earthquake, Lightning, Power surge, Burglary, Impact damage, Malicious damage.

Every insurer’s standard perils differ a little and can be extended by including other optional perils unique to each insurer. This allows that every policy can be tailored to your specific needs.