T he Householder Insurance Policy covers the insured’s building, fixtures and fittings, contents, jewellery and valuables, as well as public liability benefits.

Depending upon the property insured, the cover extends to protect the insured against:

Fire and allied perils
Burglary, housebreaking, larceny or theft
Loss or damage by accident or misfortune
Legal liability towards general public
All Risk Cover for selected valuable items
The exclusions under this policy are specific to the item or property insured.

Your business will be indemnified by payment, reinstatement or repair against pre-specified loss or damage sustained. As with other policies, this is subject to the terms, exceptions, limits and conditions contained or endorsed during the period of insurance.

The policy can also be extended to cover perils of storm, flood, burst pipes, overflowing of water tanks, impact by vehicles, malicious damage, earthquake damage, aircraft damage, bush fire, explosion, riot and strike.

It covers buildings, contents and stock-in-trade, plant and machinery and loss or rent.

This policy insures your company against loss or damage to property as a direct result of fire out break, lightning or explosion.

Other perils such as social disturbances like strikes and riots, and natural disasters like storm damages, floods and earthquakes can also be covered by an extension of the standard scope of the cover.

The items to be insured are usually made up of buildings, office furniture, electrical & electronic equipment, plants and machineries, stock of raw materials and finished goods, and loss of annual rent for alternative accommodation.

The policy also contains various other extensions that are granted at minimal extra cost to the policyholder.

Some losses are excluded and extra covers can be provided.

T his policy is designed to indemnify the insured against loss or damage resulting from theft or attempted theft which is accompanied with actual forceful or violent entry into or out of the premises or any attempt at that place or time.

The policy covers the insured against loss or damage to his property accompanied by actual forcible and violent breaking into or out of a building or any attempt thereat. It covers contents and stock whilst on the insured premises.

The items usually covered under this policy are similar to those under the Fire and Other Perils policy with the exception of Buildings and Loss of Rent.

Third Party Policy: This cover is restricted as it covers only indemnity for damage to the third party vehicle/property as well as third party person injury/death by the insured vehicle.

Third Party Fire & Theft Policy: This provides cover for accidental loss or damage to the insured vehicle arising out of fire or theft but does not cover accidental damage. The cover is also provided for all sums the insured vehicle shall be legally liable for causing accidental loss/damage to the third party property or injury /death to third party.

It protects all parties against the financial consequences of accident which may lead to loss or damage to properties, business interruption and injury to workmen and third parties.

A viation insurance is insurance coverage geared specifically to the operation of aircraft and the risks involved in aviation.

Marine Cargo: The marine cargo policy provides cover for loss or damage to imported goods being conveyed by sea or air and can be taken up either as an All Risk Policy (covers total or partial loss of goods) or as a Restricted Cover Policy (covers total loss only). The premium rate applied will depend upon the nature and value of goods being imported, the type of cover required as well as the country of origin.
Marine Hull: The marine hull policy provides cover on vessels and yachts against any loss, damage or liability that may arise from their use. The scope of cover provided is either an “all risks” or “total loss only” while the policy usually carries a deductible amount of about 10% of the value of the vessel or yacht. The premium rate applicable to this policy is based on the value of your vessel, nature of vessel, use and general seaworthiness. Annual cover or short period / voyage covers are available.

T his policy is designed to cover any loss or damage that could result while any computer and or equipment insured is working or at rest.

The cover under this policy also extends to include loss or damage to external data media such as diskettes and tapes containing processed information while such are kept within the premises.

Any increase in cost of working as a result of damage to the main computer equipment is also covered and compensation is provided for alternative means of carrying on operation.

With payment of an additional premium, this policy can be extended to cover the risk of theft.

In most cases, these plants work under extreme environmental conditions of e.g. dust, hard terrain, slippery or wet conditions etc.and are therefore exposed to severe wear and tear as well as highly hazardous working conditions.

The essence of the cover is to bridge the gap when the building or bridge sustains severe damage and to prevent such loss or damage from prolonging the construction time schedule thereby delaying the eventual completion date.

T his is the Insurance cover provided for the construction/erection of machinery, plant & steel structures involving very little civil engineering works.

There is a seeming similarity between the Contractors All Risk (CAR) and the Erection All Risk (EAR) but it is worthy of note that they are not similar.

While the CAR provides cover for civil works and mostly buildings needed to house or support the expensive machinery & equipment, the EAR covers the erection.

This could happen as a result of the operation of the Perils such as Accidental damage, Fire including Lightning & limited Explosion, Explosion (Industrial), Aircraft, Riots, Strikes, Lock-out, Malicious Damage, Earthquake or Volcanic Eruption.

F idelity Guarantee policy indemnifies against infidelity of an employee which leads to financial loss. It covers for the loss of money, goods and/or stock arising from dishonesty, embezzelment or misappropriation of company’s funds &/or property by employees.

In any of these cases, the number of persons and the limit of guarantee against any one loss would be advised as well as aggregate amount of guarantee in a given year.

T his policy is suitable for all industries where the need for compensation on account of defective product may arise.

The policy pays for damages that the insured is legally liable to pay in consequence of accidental death/injury or disease to third parties including damage to third party property due to any defect in the products manufactured.

Exports to other countries can also be covered provided domestic sales are also covered.

This form of policy is suitable for professionals such as engineers, architects, doctors, pharmacists, etc.

It covers them against the perils such as collapse, fire, storm, earthquake and flood.

The policy covers all business and office premises; residential buildings that are let out (in full or in part); recreational centers, club houses, cinema halls, etc.; schools and training institutions; and all other buildings where third parties have access as licensees, tenants, lodgers, or for educational, medical, business or recreational purposes.

The policy also provides cover on 24-hours basis and benefits are expressed as multiples of salaries. Cover extends to weekly benefits in the event of temporary disability resulting from bodily injury to the insured person as well as certain allowances for expenses incurred on medical treatment. Death, or injuries from natural causes are not covered.