Owning a home is one of the biggest investments you’ll ever make. Protecting it against unforeseen risks such as fire, theft, storms, and accidents is not just wise—it’s essential. South Africa’s leading insurers offer a range of homeowner insurance solutions tailored to meet varying needs, lifestyles, and budgets.
In this guide, we’ll explore three top insurers—Old Mutual (Allsure), Santam, and King Price Insurance—breaking down their unique offerings, benefits, and what sets them apart.
1. Old Mutual – Allsure Comprehensive Policy
Old Mutual’s Allsure policy is designed for homeowners who want simplicity and convenience by consolidating multiple types of coverage into a single, all-in-one policy.
Key Features:
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Comprehensive Protection: Covers your home, car, personal liability, and other risks under one policy.
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Household Protection: Furniture, appliances, electronics, and even food in your freezer are insured.
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Emergency Assistance (Swiftcare): 24/7 emergency medical, roadside, and home assistance.
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Natural Disaster Coverage: Fires, explosions, lightning, hailstorms, falling trees, animals, and more.
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Household Contents Coverage: Includes liability cover, protecting contents inside your home, outbuildings, and even motorcycles, caravans, trailers, and boats.
At a glance:
| Coverage Area | Included in Allsure |
|---|---|
| Building Structure | ✅ |
| Home Contents | ✅ |
| Vehicles (optional) | ✅ |
| Natural Disasters | ✅ |
| Legal Liability | ✅ |
| Emergency Assistance | ✅ |
2. Santam – Flexible and Trusted Coverage
As South Africa’s largest short-term insurer, Santam has built its reputation on trust, flexibility, and a strong support network. Their policies can be tailored to fit individual homeowner needs.
Key Features:
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Customizable Plans: Core, Classic, and Executive options for different budgets.
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Building Insurance: Covers fire, explosions, floods, lightning, burglaries, theft, and damage to fixtures.
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Home Contents Insurance: Protects possessions against fire, storms, burglary, and theft—insured at replacement value.
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All-Risk Insurance: Covers valuable personal belongings like laptops, cameras, bicycles, cell phones, and jewelry, even when taken outside the home.
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24/7 Support: A nationwide support system ensures assistance in emergencies.
Santam Insurance Plans Overview
| Plan Type | Coverage Level | Best For |
|---|---|---|
| Core | Basic coverage | Budget-conscious homeowners |
| Classic | Mid-range | Balanced protection |
| Executive | Premium | High-net-worth individuals |
3. King Price Insurance – Innovative, Declining Premiums
King Price takes a unique, innovative approach with its decreasing premium model—your monthly premiums reduce as the insured value of your possessions naturally depreciates over time.
Key Features:
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Building Insurance: Protects structures, outbuildings, geysers, fixed glass, sanitary ware, and utility connections.
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Home Contents Insurance: Covers loss or damage of belongings inside your home, excluding tenants’ possessions.
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Portable Possessions Insurance: Insures jewelry, cameras, laptops, travel bags, and clothing against loss, theft, or damage while outside your home.
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Affordability: Transparent, fair pricing makes it appealing for cost-conscious homeowners.
Unique Feature Comparison
| Insurer | What Makes Them Unique |
|---|---|
| Old Mutual | All-in-one, consolidated policy |
| Santam | Wide range of flexible plans |
| King Price | Declining premiums with depreciation |
Comparing the Three Insurers
Coverage Comparison Chart
Here’s a side-by-side look at what each insurer offers:
| Feature / Benefit | Old Mutual (Allsure) | Santam | King Price |
|---|---|---|---|
| Building Insurance | ✅ | ✅ | ✅ |
| Household Contents | ✅ | ✅ | ✅ |
| Portable Possessions | Limited (boats, caravans, etc.) | ✅ | ✅ |
| Customizable Plans | ❌ | ✅ | ❌ |
| Declining Premiums | ❌ | ❌ | ✅ |
| Emergency Assistance 24/7 | ✅ | ✅ | ✅ |
| All-in-One Policy (Home + Car) | ✅ | ❌ | ❌ |
Conclusion
When it comes to protecting your home in South Africa, there’s no one-size-fits-all solution. Each insurer brings its own strengths:
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Old Mutual (Allsure) is ideal if you prefer the convenience of a single, consolidated policy.
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Santam is perfect if you value flexibility, reputation, and customizable plans.
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King Price is the go-to for homeowners looking for affordability and innovative declining premiums.
Final Tip: Before deciding, assess your home’s value, your possessions, and your budget. The right policy should balance comprehensive protection with financial peace of mind.