Insurance Flashcards
1
Q
What is bond protection insurance?
A
- life assurance to settle the home loan if something unexpected should happen to the buyer
2
Q
What does bond protection insurance cover?
A
- repayments if the bondholder is unable to pay
- as a result of death, retrenchment or disability
3
Q
What does bond protection insurance mean for the homeowner’s family?
A
- they retain ownership of the home
4
Q
What does homeowner’s insurance cover?
A
- covers any losses
- should the home structure suffer damage
- as a result of a natural disaster, accident, burst geyser, political unrest, fire
5
Q
What does homeowner’s insurance not cover?
A
- damage owing to a lack of maintenance
- furniture inside the house
