If you live in high risk areas, insurance companies will increase your premium accordingly. You would therefore pay a higher premium for the same amount than someone living in a lower risk area. In other words you will pay more when living in Cape Town and surrounding areas than those living in the country side.
Roof & Wall Constructions
A residence with a non-standard roof (e.g. thatched roof) or walls is a higher risk than a standard residence, and will be rated accordingly by an insurance company. Standard walls will be bricks and cement where a standard roof will be tiles, asbestos and so on. Wooden structures will be rated as non-standard structures.
Based on the area you live in, insurance companies will stipulate the minimum security measures required at your residence. You can get a discount on your insurance quote when your security exceeds the minimum requirement. The normal minimum requirement is burglar bars at all windows that can open, out buildings included and security gates at all exit doors including sliding doors and entrance leading doors leading from the garage to house.
Type of Cover
Generally, your house contents are covered against fire, theft, water, wind and storm damage. In order to reduce the rate on your insurance quote, you can exclude burglary and theft cover, or exclude flood damage (not recommended though).
No Claim Bonus (Claim-free Years)
Your insurance history will also have an influence on your insurance quote. First-time insurers pay more for insurance cover compared to someone with proof of insurance. The discount is calculated in accordance with the claim-free years you’ve been insured.
With most insurance companies, you can increase your excess in order to reduce your monthly premium. A voluntary excess refers to an additional amount you’re willing to pay when a claim arise. This amount will be added to the basic excess of the policy when you submit a claim. A higher voluntary excess will result in a lower insurance premium.