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Geyser Cover and Claims
Wednesday, 09 September 2009 21:48
The difference between home insurance and household insurance (also known as contents insurance), is the difference between the structure itself and your possessions inside your home. While household insurance covers your possessions, it doesn’t cover your geyser.

Losses as a result of geyser damage are among the highest causes for claiming that insurance companies have to deal with. In 2006, insurance companies replaced more than 30,000 geysers. Many consumers are under the mistaken impression that geysers are covered under household or contents insurance when they’re catered for in homeowners insurance.

While most homeowners have both policies the problem with the division is that geysers cause damage to household contents when they burst. This means that you will need to make a claim on both policies when claiming for the geyser and its damage. This means that you will, depending on your insurer, pay two excess amounts. You may also be able to claim for the geyser but not the damage it caused to the surrounding structure, such as walls and ceilings.

As part of your home insurance policy, you are under obligation to maintain the good repair of your home. If the assessor determines that your home is in a bad state – gutters blocked, water damage from leaks, poor waterproofing etc – they can reject your claim to replace the geyser based on poor maintenance. Best read the fine print on your homeowner’s insurance policy to know where you stand and check your gutters for leaves.
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