MENU
FAQ’s
TFG HOME COVER

TFG HOME COVER FAQ’S

down arrow

 

  1. What cover does TFG Home Cover provide?

TFG Home Cover covers:

  • your home against damage with up to R50 000 cover a year for R40 a month under the home building benefit option; and
  • your home contents against damage with up to R50 000 cover a year and theft with up to R20 000 a year for R90 per month under the home contents benefit option.

 

  1. Under TFG Home Cover, what is a ‘home building’?

A home building is your home which you either own or rent and which is occupied by you or by your tenant or immediate family (immediate family must reside with you at your home). The home building, including any outbuildings must:

  • be a permanent structure of standard construction situated in the Republic of South Africa;
  • be at least 50 (fifty) metres away from the floodwater level of a river, stream or dam;
  • have walls separating it from surrounding structures; and
  • be at the address which you provide when you take up TFG Home Cover, which is confirmed on the schedule.

For the home building benefit option, you must own your home and for the home contents benefit option, you must either own or rent your home.

 

  1. Are there a waiting periods applicable to TFG Home Cover?

There is no waiting period for the home building cover option or for the home contents cover option for damage.

There is a 3 month waiting period for the home contents cover option for theft.

The waiting period is calculated from the starting date of the cover, which is the date on your schedule.

 

  1. Can I take up TFG Home Cover if I live in a flat?

Yes, as long as the flat meets the requirements of a “home building” as defined in your policy terms and conditions (see 2 above).

 

  1. Does TFG Home Cover, cover my geyser?

No, we do not cover any damage caused by bursting, leaking, overflowing from tanks, geysers, roots or pipes.

 

  1. Can I insure my home contents or home building against damage and/or theft with more than one insurer?

It is your responsibility to tell us or the insurer (Guardrisk) if you have other insurance covering damage or theft of your home contents and/or home building.

 

If you have other insurance covering your home contents or home building against theft and/or damage, you may only claim from one insurer for each insured event. If you claim from more than one insurer for the same insured event, we will only be liable for cover which is not approved by the other insurer, subject to the limits of your TFG Home Cover policy.

 

  1. Are there any claim limits under TFG Home Cover?

Yes, you can claim twice a year for damage to your home contents up to R50 000 a year for both claims combined, twice a year for theft of your home contents up to R20 000 a year for both claims combined and twice a year for damage to your home building up to R50 000 for both claims combined.

 

If you reach your claim limit under a cover option (either in respect of the number of claims or in respect of the monetary limit), you will not:

  • have cover;
  • be able to claim; and
  • be billed for the cover that he/she does not have.

 

On the anniversary of the start date of your policy, cover and limits will automatically continue.

 

  1. Will I still be billed for a cover option if I reach my claim limit for a cover option?

No, if you reach your claim limit for a cover option, you will not be billed for the cover you do not have.

 

  1. Are there any monetary limits applicable to the cover?

Yes, cover is limited to a maximum of the insured amount each year as per the table below. When the insured amount has been paid out in full in a year for a cover option, regardless of how many claims have been approved in that year, you will not have cover and you will not be able to claim. You will not be billed for the premium while you do not have cover.

 

Cover limits for each option will be reinstated on the anniversary date of your policy, up to the insured amount.

 

COVER OPTION

INSURED AMOUNT (per year)

HOME CONTENTS (THEFT)

R20 000.00

HOME CONTENTS (DAMAGE)

R50 000.00

HOME BUILDING

R50 000.00

 

 

  1. If I submit a claim for an amount that is less than the insured amount, how will this affect my second claim?

If you submit a claim for an amount that is less than the insured amount, you will be covered for the difference between the insured amount and approved first claim amount when you submit a second claim in any one year under the same cover option as the first claim. For example, if you submit a successful claim under your home building option for R30 000 and you submit a second claim within the same year under your home building option, the limit of cover for the second claim will be R20 000.

 

  1. How will I receive my benefit(s) under TFG Home Cover?

If your home contents are damaged or stolen and your claim is accepted, the insurer may choose to either repair your home contents, replace your home contents or pay you a lump sum instead of repairing or replacing your home contents.

 

If your home building is damaged and your claim is accepted, the insurer may choose to either repair the building or pay you a cash lump sum instead of repairing your home building.

 

The insurer will have the sole discretion (it may decide) whether to repair, replace or pay out cash in respect of your home contents or home building if it approves your claim.

 

  1. How will my home building or home contents be repaired if my claim is successful?

If the insurer chooses to repair your home building or home contents, your home building or home contents will be repaired by a service provider that the insurer chooses to the same condition as it was immediately before it was damaged.

 

  1. How will my home contents be replaced if my claim is successful?

If the insurer chooses to replace your home contents, the replacement item/items will be delivered to you. The replacement item will be similar, but not always identical, to the damaged or stolen item.

 

  1. How will I receive a cash payout for my home building or home contents?

If the insurer chooses to pay you a cash lump sum instead of carrying out repairs or issuing a replacement, payouts up to the available insured amount will be made by EFT.

 

If you receive a cash payout and claim again for the same home building or home contents in respect of which you received the cash payout, you will have to prove the repair or replacement to the satisfaction of the insurer before any further claim for your same home building or same home contents is considered.

 

  1. Are there any special requirements to claim?

Yes, claims must be made within 30 days of the claim event (the damage or theft). If a claim is for theft, you must report the matter to the police within 48 hours of the theft.

 

  1. What type of damage is covered by TFG Home Cover?

Damage to your home contents or home building caused by:

  • fire;
  • lightning, explosion, storm, wind, hail, snow or a natural flood;
  • theft or burglary; and
  • impact by trees, animals, aerials and vehicles. Vehicles include cars, trucks, buses, carts and any attached wagon, caravan or trailer.

 

Please refer to the policy terms and conditions for all inclusions and exclusions.

 

  1. If my immediate family move into my home and live with me in my home, will their belongings also be covered under my home contents cover option under my TFG Home Cover policy?

Yes, the home contents belonging to your partner, parent(s), parents in law, children and siblings residing with you in your home, will be covered subject to the policy terms and conditions.

 

  1. Are there any exclusions under the TFG Home Cover?

Yes, contents that are not kept in your home, contents owned by your tenant, cell phones, tablets, laptops, items that are left in the open, e.g. washing on a washing line and garden tools and contents that are not owned by you or your immediate family are not covered.

 

Damage to your home building if your home building is not of standard construction, damage caused by you, your tenant or immediate family, and damage caused due to you failing to maintain your home building and wear and tear are not covered.

 

Failure of electricity grid and damage caused by bursting, leaking, overflowing from tanks, geysers, roots or pipes are not covered under TFG Home Cover.

 

Please refer to clause 5 of the policy terms and conditions for all exclusions.

 

  1. Must I pay an excess if my claim is approved?

Yes, if your claim is accepted and approved, you will have to pay an excess of R200 for a claim for damage to your home building or damage or theft of your home contents in cash before we will repair your home building or repair or replace your home contents.

 

If we pay the benefit in a cash lump sum, the excess will be deducted from the payment before it is made to you.

 

  1. What payment options do I have?

TFG Home Cover can be billed to your TFG Money Account or debited from your personal bank account monthly.

 

  1. How can I cancel my policy or a cover option?

You can call TFG’s Customer Service Department on 0860 834 834. You can also send an email to tfginsure@tfg.co.za.  

 

  1. When will my cover end?

Your cover will end if:

  • you cancel the policy - you must give 31 days’ notice of cancellation;
  • your TFG Money Account is terminated (if the premium is billed to your TFG Money Account);
  • the premium, which is debited from your personal bank account, is not paid within 30 days of the date it was due because you stopped the debit order; or if the premium is not paid when it is double-debited (after a debit order is missed); and
  • you die.

 

  1. Can I cancel only one benefit option?

Yes, if you have taken up home building cover and home contents cover, you can choose to cancel either the home building cover or the home contents cover, and the policy will still be in force for the option that you require cover for and that you do not cancel cover for. The premium will be adjusted for the option still covered.

 

  1. What are my cooling off rights?

You may cancel TFG Home Cover within 14 (fourteen) days of receiving the policy and disclosure notice (as long as no benefit has yet been paid or claimed or a claim event has not yet occurred) by giving notice in writing to the insurer, care of TFG. If cover is cancelled within this 14 (fourteen) day cooling off period, you will receive a refund of your paid premium.

 

  1. When will my cover suspend?

Your cover will suspend if:

  • you have not paid the monthly amount required by TFG on your TFG Money Account for 2 (two) consecutive months. You may contact TFG’s customer services on 0860 834 834 if you would like to know what this amount is;
  • there is any amount on your TFG Money Account that is outstanding for 60 days or more. This means that, in order for you to have cover, the 60 day indicator and the 90 day indicator on the bottom of your account statement each month must be zero;
  • you are under administration or debt review or become insolvent;
  • your TFG Money Account credit limit is reached; or
  • you reach the claim limit or insured amount under a cover option.

Cover will be reinstated on the anniversary date of the policy (which is every 12 months after the starting date).