House-Owners Insurance

This insurance is compulsory at Bank Gaborone and provides cover for the property under the following conditions.

Cover includes

Fire, storm, hail, earthquake, lightning, flood, aircraft/ aerial devices, riot, strike, malicious damage, theft, damage to fixed glass and sanitary-ware/ theft (except for construction risks), public supply connections.

Cover excludes

Wear and tear, gradual deterioration, dampness of atmosphere and contamination, design defects, war, terrorism, fraud, theft by tenants, unless accompanied by forcible or violent entry/ exit, claims not reported within reasonable period, subsidence and landslip.

Important information

The property will be insured at the INSURANCE REPLACEMENT VALUE as stated in the valuation report
The client is to ALWAYS notify the insurer of any changes/alterations/modifications to the property
The property must ALWAYS be insured to its true value (not under or over insured)
The annual premium will be debited to the home loan account on the 1st of April every year
The insurance cover will be AUTOMATICALLY re-newed on the 1st of April annually, taking into account appreciation of the property

Claims Procedure

Penrich Insurance Brokers (PIB) handles all claims on behalf of Bank Gaborone

Claims forms are available at PIB and Bank Gaborone, Property Finance Division

PIB Contact: Mr Modise Kebadilwet Telephone Number : 3671566 and Fax Number : 3901125

Mortgage Insurance

This insurance is compulsory at Bank Gaborone and provides cover in the event of permanent disability or death.

Cover is provided by Regent Life, through Penrich Insurance Brokers.

Conditions about this cover may also be obtained from Regent Life Offices at 3188133