TFG HOME COVER

TFG Home Cover is an optional non-life insurance product that is offered to TFG Money Account holders and TFG cash customers.

TFG Home Cover provides the policyholder (who is the TFG customer) with home contents cover against theft of up to R20 000 a year and damage of up to R50 000 a year and/or home building cover against damage of up to R50 000 a year.

HOME CONTENTS COVER OPTION: if the customer’s home contents are damaged or stolen and the customer’s claim is accepted, we may choose to either repair the customer’s home contents, replace the customer’s home contents or pay the customer a lump sum instead of repairing or replacing the insured home contents. The insurer will have the sole discretion (it may decide) whether to repair, replace or pay out cash for the customer’s home contents if it approves the customer’s claim.

A waiting period of three months from the policy start date applies to cover for theft of the customer’s home contents. There is no waiting period for cover for damage to the customer’s home contents.

The customer must either own or rent the building where the contents are kept. The insured home contents can be owned by the customer or his/her immediate family living with him/her, including the customer’s partner, parents, parents in law, children and siblings.

HOME BUILDING COVER OPTION: if the customer’s home building (which the customer owns) is damaged and the customer’s claim is accepted, the insurer may choose to either repair the building or pay the customer a cash lump sum instead of repairing his/her home building.

There is no waiting period for the home building cover.

The customer must own the home building that he/she is insuring under TFG Home Cover.

What are the cover and claim limits?

The customer can claim twice in a year for damage to his/her home contents up to
R50 000 a year for both claims combined, twice in a year for theft of his/her home contents up to R20 000 a year for both claims combined and twice in a year for damage to his/her home building up to R50 000 for both claims combined. On the anniversary of the start date of the policy, the cover and limits will automatically continue.

What is not covered?

• Contents not kept in the customer’s home (even if you don’t live there), and contents owned by your tenant;
• Contents not owned by the customer or his/her immediate family;
• Items left in the open, like washing on a washing line and garden tools;
• Cellphones, tablets and laptops;
• Damage caused by the customer, the customer’s tenant or immediate family;
• Damage caused by the customer’s failure to maintain his/her home and damage caused from wear and tear;
• Damage caused by failure of the electricity grid; and
• Damage caused by bursting, leaking, overflowing from tanks, geysers, roots or pipes.

Excess: If the customer’s claim is accepted and approved, the customer will have to pay an amount of money called an excess. The excess is R200 per claim and must be paid in cash before we will repair the customer’s home building or repair or replace the customer’s home contents. If the insurer pays the customer a cash lump sum, the excess will be deducted from the payment before it is made.

Foschini Retail Group (Pty) Ltd is an authorised financial services provider (FSP 32719).

Insurance is underwritten by Guardrisk Insurance Company Limited, an insurer licensed to conduct non-life insurance business in terms of the Insurance Act 18 of 2017, and an authorised financial services provider (FSP 75).