We started a new discussion last week on Fire insurance and we pointed out that what is operational in the Nigeria insurance market is a standardized cover referred to as Fire & Special Peril Insurance. This encompasses other perils that were hitherto subject to request and payment of additional premiums.
We will continue our discussion by looking at this additional perils and the extent of their covers while not boring you with technical details. Continue reading UNDERSTANDING THE EXTENDED PROTECTION FIRE INSURANCE POLICY PROVIDES
There is a level of risk attached to every human activity. And when it comes to physical assets, the possibility of loss should never be overlooked. Events in the recent pasts all round the world and especially in our part has awakened us to the destructive potential of fire. And while homes, organisations and governments are making tremendous effort at preventing its occurrence and effective management (should it occur), insurance provides an adequate avenue for a soft-landing. Continue reading WHAT DOES FIRE INSURANCE COVERS?
A claim is the occurrence of an insured peril upon which the liability of an insurance policy is engaged. In other words, you have suffered a loss covered by your insurance policy and which now qualifies you to seek indemnity (compensation).
Many unfulfilled claims expectations are as a result of not knowing what is required of you in the event of a claim, how best to seek compensation and poor understanding of one’s insurance policy.
What should you do following a burglary incident? Continue reading HOW TO CLAIM UNDER YOUR BURGLARY INSURANCE POLICY
The uncertainty of a loss and its associated cost proves the relevance of an adequate insurance protection. However, just obtaining an insurance policy would not ensure that you are adequately compensated in the event of a loss. The need for you to know what your insurance policy covers can not be overemphasized. Continue reading HOW TO MAXIMIZE YOUR BURGLARY INSURANCE POLICY