INSURED.CO.ZA

When you take out a bond for the purchase of your home, the banks will insist that whilst you have a bond in place you insure your home against any unforeseen catastrophe or accidental damage to the building. It is a policy which specifically covers the building structure of a home against accidental loss or damage caused by fire, theft or natural disasters like flood. This insurance is commonly called "HOC Insurance"... Even if you have paid off your bond, it is important that you keep your HOC Cover in place in case of any unforeseen circumstances. By insuring your home with HOC cover you have peace of mind, should an unforeseen catastrophe occur... Extra R70 000 to revamp a home for wheelchair access in the event of Disability.

Also known as: insured