Senior adjudicator at a home insurance company has revealed that 80 of South African homeowners are underinsured. As extreme weather events become more frequent and more destructive, there are growing concerns that many homeowners remain financially exposed when disaster hits.
Recent industry reports show weather-related damage is now amongst the leading drivers of insurance claims in the country with flooding, storm damage, and water-related losses rising sharply.
Experts are also warning that many homeowners only discover gaps in their cover after suffering major damage.
