Category Archives: Flood insurance

THE RELEVANCE OF FLOOD EXTENSION IN MOTOR INSURANCE

Flood damage is a standard exclusion in a Motor Insurance Policy.

Meaning that your motor insurance cover is not likely to have damages caused by flood as one of the items it would provide compensation against in the event of an occurrence.

The implication is that in the event where you car was damaged by a flood, your insurance company is not under any obligation to cover your losses should you file for a claim.

You are left stranded, disappointed, and you end up feeling defrauded. Probably the policy was oversold to you, or you just didn’t remember to ask necessary questions.

Continue reading THE RELEVANCE OF FLOOD EXTENSION IN MOTOR INSURANCE

YOU DON’T NEED A SEPERATE FLOOD INSURANCE COVER!

fld
Flood damage to properties in Lagos state.

The protection against flood damage is an integral part of any Fire & Special Peril Insurance Policy, Material Damage Insurance Policy and a Home Insurance Policy on a building and or its content.

This is often not amplified unlike the fire risk probably due to the fact that fire tends to create a more vivid image of danger and urgency than flood. Therefore many policy holders do not know that they can recover under their policy should they suffer a flood damage. Continue reading YOU DON’T NEED A SEPERATE FLOOD INSURANCE COVER!