How to limit your losses from storms and floods

As the recent heavy storms and flooding have shown, nature can be unpredictable and unforgiving. These events serve as a stark reminder of the importance of ensuring that your homeowners' insurance coverage (HoC) is adequate and up to date.

"With climate change contributing to an increase in extreme weather events, it is crucial for homeowners to review their insurance policies and make any adjustments that may be needed," says Gerhard Kotzé, CEO of the RealNet property group.

"For a start, you need to take a close look at what your policy currently does and does not cover, and make sure you will have adequate cover in the event of your home being damaged by flooding, high winds, fire, earthquakes or other natural disasters. Events that are common in certain areas are sometimes excluded from standard HOC policies.

"And if that is the case with your policy, you should contact your insurance broker as soon as possible to discuss your concerns and explore your options for additional coverage. This may increase your premium, but it will give you peace of mind that you will at least be compensated if disaster strikes."

It is also important, he says, for those whose homes have been paid off and no longer have a bond to ensure that their HOC is regularly updated and revised to provide proper protection. "Once your bond is paid off, it is easy to get out of the habit of thinking about your HOC, but home values rise continuously, and your insurance needs to be updated to reflect this, or you could find yourself being under-insured at a critical time." 

Meanwhile, as most of SA goes into the summer rainy season, homeowners may want to take some proactive steps to protect their properties and families against potential disaster.

"These include installing sump pumps, elevating electrical systems and generators and sealing foundations," says Kotzé, "but it is also vital to create an emergency plan for your family and ensure that everyone knows how to shut off utilities and would have access to essential supplies such as food, water and first aid kits.

"It is also really worthwhile to document all your belongings and keep a digital inventory on your laptop or cellphone. Add photos and purchase receipts wherever possible, as this can really help to expedite an insurance claim after an emergency event."

He says that if a storm or flood is imminent, homeowners must stay informed via radio or cellphone and be prepared to evacuate if the emergency response services deem it necessary. If possible, they should get an emergency kit ready to take with them that contains essential medicines, bottled water, important documents such as IDs and passports and your title deed if you have it, a spare cellphone, a good torch, some cash and a waterproof jacket for each member of the family.

"In the unfortunate event that your area and home are flooded, swift action can minimize losses, although your safety and that or your family must come first, and you should never re-enter a flooded area until the authorities say it is safe to do so."

As soon as you can, though, you should do the following:

- Contact your insurance company and start the claims process.

- Document the damage by taking photos and videos of your property before starting any cleanup or repairs.

- Mitigate further damage by drying out affected areas, for example, and removing water-damaged items from inside your home.

- Keep detailed records of all expenses related to the cleanup and repair process, as these may also be reimbursable by your insurance company.