Burnt by the dreaded 'average' clause
Be very careful about the value for which you insure your house. Losing it may seem a remote possibility, but if it does come about, the last thing you want is to find out your insurer will not cover your loss in full because you were underinsured.
When his Kuils River house was destroyed in a fire in September last year, Capetonian Brian Kewana was sure he was sufficiently insured. Having increased the sum insured on his homeowner's policy
every year in line with his renewal notices, he assumed he was adequately covered...