Do you need tips on how to cancel your Standard Bank home insurance? If yes, then this article will show you the steps for doing so. Standard Bank, South Africa’s biggest bank by market capitalization, offers a wide range of insurance products. If you have taken a bond from Standard Bank, you are actually required to have home insurance for the duration. However, they do allow you to get that insurance elsewhere. You are here because you had signed up for this product, but now you wish to cancel. How do you do that?
Standard Bank home insurance cancellation steps
The following is how to cancel Standard Bank home insurance;
- Forward your ID number/Policy number and contact details to ask.SBSA@standardbank.co.za.
- Include the subject line, “Cancellation of Homeowner Insurance.”
- You can also call 0860 123 112 to get help.
- Note that if you still have a bond with Standard Bank, you will need to provide proof that you have signed up for insurance on your home with another company. They will not allow you to go uninsured.
What does home insurance cover?
That’s how to cancel your Standard Bank home insurance. In this section, we are going to explain a bit more about home insurance. What does it cover?
There are actually two types of Standard Bank home insurance. The first is Home Owner’s insurance. It covers the physical structure of the building. You will get cover in the event that something untoward happens due to lightning, flooding and other mishaps.
Another version of home insurance is called Home contents insurance. With this, you get cover for whatever is inside your home. That includes things like your television and other pieces of furniture. You will be covered in the event of theft or some other misfortune.
Why cancel Standard Bank home insurance
We have already noted that Standard Bank home insurance is required as part of your bond with the bank. You can also get if even if you do not have a bond with the bank. So, why would you wish to know how to cancel Standard Bank home insurance?
There are a number of reasons why you may have decided to go down this route. Maybe you can no longer afford your premiums. It’s something that a number of people have stated as the reason for cancelling.
If you are on a bond, you will have to get cover from another company and you will need to provide proof of this to Standard Bank.
Another reason is if you have found a cheaper option. There are many insurance companies in South Africa, some of which are better than others in this regard.
In this post, we highlighted how to cancel your Standard Bank home insurance. It was noted that you may wish to cancel if you have found a cheaper option elsewhere. It was also noted that cancelling when on a bond with the bank can only be done if you present proof that you have signed up for insurance with another company.
Here is the home insurance telephone number