Property Insurance

Our Property insurance services include but not limmited to the following;

FIRE AND SPECIAL PERILS: A standard fire insurance covers the risk of loss, destruction or damage of properties as a result of fire, lightning and explosion. This scope of cover can however be extended to insure allied perils such as flood, storm, tempest, tornado, earthquake, impact, aircraft damage, bursting and overflowing of water tanks, bushfire, riot and strike as well as malicious damage.

In general, properties insurable against the risk of fire and its allied perils can be broadly classified as follows:

  • Buildings including boundary walls and out buildings;
  • Plant, machinery, generators and spare parts;
  • Office contents and equipment of various description, furniture, fixtures & fittings;
  • Stock of raw materials, work in progress, packaging materials and finished goods;
  • Cost of removal of debris following a fire incident;
  • Loss of rent;
  • Tenant's improvement to the building;

BURGLARY AND HOUSEBREAKING INSURANCE: The cover provided under this class of insurance is for theft of the properties insured following a forcible and violent entry into or exit out of the premises or any attempt thereat. Cover is also given for damage to the building in course of entry and exit.

As it is apparent that a building cannot be subject to the risk of theft, it is recommended that the following properties be insured by yourselves:

  • Plant, machinery, generator and spare parts;
  • Office contents and equipment of various description, furniture, fixtures and fittings;
  • Stock of raw materials, work-in-progress, packaging materials and finished goods.

GOODS IN TRANSIT INSUSRANCE: The insurance covers the risk of loss or damage by accident or misfortune to the insurance's goods whilst in transit or whilst in course of loading onto or unloading from the conveyance or whilst temporarily housed in the ordinary course of transit within Nigeria.

HOUSEOWNERS/HOUSEHOLDERS COMPREHENSIVE INSURANCE: The insurance is designed to cover the risk of fire and special perils to both the buildings and contents of a private dwelling in addition to covering the risk of the contents. It is proposed that the insurance be taken up for the senior and management staff of an organization as an additional benefit and especially where the company's properties are contained in the residences. The policy which are incurred by the insured as a house owner or occupant up to a limit of N100, 000.00.

FIDELITY GUARANTEE INSURANCE: This covers the risk of loss of money and/or goods belonging to the insured or for which the insured is legally responsible committed by reason of fraud, embezzlement, larceny or dishonesty of employees.

MOTOR INSURANCE: The insurance can be affected on all types of vehicles. Where cover is on "COMPREHENSIVE" basis, the insurance covers the risk of fire, theft, accidental collision and malicious damage. It also covers liabilities to third parties for injuries sustained or damage to third party properties as well as cost of towing the vehicle to the nearest repairer following an accidental damage. A "THIRD PARTY" insurance however provides for both the risk of liability to third party for injury as well as damage to third party properties only.

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