Ensure you have appropriate home insurance for 2010 if you are planning to let out your house in order to profit from the FIFA World Cup Football Tournament.
Make no mistake, you COULD make quite a lot of money from letting out your house or houses for the World Cup. Accommodation will be at a premium and letting prices will be high.
Home insurance covers damage?But make sure that you have home insurance for the 2010 World Cup period that will cover damage that may be done to your home by those who you let it to.
The fact that you have insurance that cover your home and its contents DOES NOT mean that it is covered for damage that occurs whilst you are letting it to other people for profit.
Your current home insurance MAY cover such an eventuality, but it MAY not.
Get the answers in writingCheck with your insurance company or broker and get the answers in writing. Verbal assurances from a call centre may not count for much in the event of a dispute. Check that there are no exclusions. Take out additional 2010 letting insurance cover if necessary.
Make it clear that you are planning to let your home to visitors coming to South Africa for the World Cup, and that you want to check that your current insurance policies cover damage or loss that may result from, or be caused to, the house and contents, as a result of such letting.
We are not trying to be alarmist. Most soccer fans can be expected to be perfectly well behaved. But there are exceptions - and you don't want your letting experience to turn into a 2010 home insurance nightmare.
Take picturesFinal point: use a digital camera to take pictures of your home - inside, outside and everything of value. If you need to claim, you will be glad that you did.
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