Homeowners Insurance
Our Reassurance • Your Shelter
Protect your family from the cost of unforeseen damages to your home by taking out a Monarch Insurance Homeowners Policy.
This is a short guide for your quick reference. The detailed terms and conditions of your contract with Monarch Insurance Company Limited are set out in your policy document and schedule of microinsurance.
As insurance is a financial service, we are required by the FAIS Act to make the following disclosures:
- Lewis Stores, a registered financial service provider, wholly owns Monarch Insurance and receives commission and fees from Monarch Insurance.
- Lewis's insurance agents are registered with the Financial Sector Conduct Authority (FSCA) and are required to use a script to inform you of Monarch Insurance's insurance products. While they are authorised to share information on the insurance products, they cannot offer advice.
What are the benefits?
You are covered for loss or damage to your home caused by the following:
- Fire, weather, earthquake, and flooding or leaks
- Accidental impact by falling trees, vehicles, or aircraft and malicious damage
- Sinking, sliding, or upward movement of land under your home
*Your home includes foundations, floors, walls, ceilings, roofs, and all solid infrastructure, such as geysers, gates, swimming pools, pipes, fixtures, and fittings.
How much can I claim for?
We will pay your claim in cash into your bank account, based on the repair cost of your damaged building, limited to the sum insured you selected when you took out cover (R100,000, R200,000, or R300,000), less the excess of R1,000. Please see below for benefit options.
Will you grant me cover?
We will consider your application if:
- You live in South Africa in a solidly built house of brick, stone, or concrete with a roof made of slate, tile, concrete, asbestos, or metal.
- You have the legal right to permanently reside in South Africa
What are the additional benefits?
Additionally, we will pay for:
- Accidental damage (limited to R7,500) to your:
- Fixed sanitaryware such as toilets, baths, and basins, except for damage as a result of chipping, scratching, dents, or disfiguration, which is excluded
- Water, sewerage, electricity, or telephone connections between your building and the public supply
- Damage to trees, plants, shrubs, and irrigation systems on your grounds resulting from an insured event, up to R5,000
- The cost of demolition, debris removal, and professional and regulatory fees resulting from an insured event, up to R10,000
- The costs charged by the fire brigade for responding to a fire or other insured event, up to R1,000
- The cost of replacing keys, locks, or remote controls lost or damaged from an insured event, up to R1,500
- The cost of replacing or repairing your damaged geyser, up to R3,500
- The additional charges on your municipal water bill that result from a leak as a result of an insured event, up to R2,500. The additional charges must exceed the average of the last 12 months by at least 50%
- The cost of tracing the source of a water leak, up to R1,500
- The cost of renting alternative similar accommodation if your house becomes uninhabitable as a result of an insured event, or lost rental income as a result of an insured event, up to R6,000
What is not covered?
- Loss or damage before your cover start date, buildings with thatched roofs, and temporary structures
- Causes such as rust, mildew, moth, corrosion, or decay, vermin, insects, or the actions of pets, and weeds or roots
- Alteration, misuse, mechanical or electrical breakdowns, breakages, etc. and fluctuations in atmospheric or climatic conditions or the effects of light
- Failure to take reasonable care to protect and maintain the insured property, loss or damage from any building work, renovations, or building alterations of any kind, and the cost of creating a uniform effect if matching building materials are unavailable
- War, nuclear explosion, and any radioactive contamination
How do I pay for my cover?
The policy premium payable is collected by monthly debit order in advance on or before the first of each month you are covered.
For what period am I covered?
You are covered from the Cover Start Date reflected in the Schedule of Microinsurance once the first premium has been received and each month thereafter for which a premium has been paid.
Your policy is renewed annually at which time premiums and benefits may be adjusted if product risks change. You will be given one month’s written notice of any adjustments. If you fail to pay the monthly premium at the start of any month, Monarch will notify you and you will only be covered until the 15th of that month; thereafter, you will not be covered until your premium is paid.
Monarch Insurance offers a three-month grace period to restart your policy from the date of non-payment of your premium. Your policy will be cancelled if no payment is received within those three months.
You must inform our claims manager of any potential claim within 30 days of the insured event.
How do I claim?
You can contact the claims manager at claims@monarchinsurance.co.za or on our toll-free number, 0800 243 675.
The claims manager will send you a claim form to complete and sign. This form must be true, accurate, complete, and submitted with
the requested supporting documents and information.
Is there a cooling off period?
You have 14 days from the Cover Start Date to cancel your policy and request a refund of any premiums paid if you have not submitted a claim.
When will my cover be cancelled?
- If you miss a premium payment or cancel your debit order and do not pay another monthly premium within the three-month Grace Period.
- If you cancel your policy, giving Monarch Insurance 31 days' written notice.
- If we cancel the policy, giving you 31 days' written notice.
What must I do for assistance?
If you have any questions about your insurance cover, the status of your claim or complaint, or need assistance, please contact the insurance call centre toll-free on 0800 243 675.
