Motor Insurance is compulsory for all vehicle owners. The motor Comprehensive Insurance policy
protects the insured against loss or damage to the vehicle as a result of accident, fire, theft, and legal
liability to third parties including passengers and medical expenses for injury to the occupant of the car.
We presently offer two types of Motor Comprehensive Insurance cover namely.
The devastating effect which, a fire can have on a company’s assets such as its building, plants,
machinery and equipment etc., calls for Comprehensive Fire Insurance. This policy provides indemnity
against loss or material damage to properties occasioned by fire.
The rate of premium charged is in direct proportion to the risk and value of assets. The object fire insurance is to reinstate or replace property damaged or destroyed; or to compensate the insured for such a loss.
This ensures that, immediately after a loss, the organization is placed in the same financial. position it occupied before the loss. As a professional Insurance service provider, we ensure that you obtain the best available cover at the most competitive premium.
Fire and Allied perils as mentioned earlier compensate for material damage only. In other words, the
insurers restore the property destroyed to their pre-fire condition. However, the insured has lost in other
ways if such property was used for business purposes.
The business interruption policy compensates for loss of income so that payroll and other ongoing business expenses can be met. The reasonable additional cost of working incurred in minimizing the loss of income is included in the cover.
Broadly speaking, this form of cover applies to any form of machinery or plant subject to mechanical or
electrical stress. Engine turbine, generators, alternators, electric motors, transformer, switchgears and
other power units fall within the ambit of this cover. Other units such as crane compressors and pump
may also be insured.
The insurance is against sudden and unforeseen damage to the machinery from such causes as faulty materials construction or erection, vibration, maladjustment, misalignment, defective lubrication, loosening of parts, abnormal stress, fatigue, self-heating, centrifugal force, and excessive electrical pressure. The sums insured must represent the current replacement values of the insured items including installation costs and customs duty.
This form of cover applies to those who want to move goods from one location to another. This
insurance covers the goods that are being transported if anything such as an accident or theft occurs.
This insurance is done by organisations with 5 workers or more. The company takes the cover for their
staff in case of any injury or death. The rate charged by the insurance company is dependent on the
discipline of the staffs. For example, Workers on the field are charged more when compared to the
workers on that remain in the office.
This type of cover is done for the household properties of a client.
For example a client can decide to insure his Television set, Ornaments etc.
This form of insurance is compulsory. This is when a company insures every individual working with them. This is mostly done companies but an individual can decide to get this cover as it covers any injury sustained while at work or at home.
This type of insurance covers goods that are being transported by Ship.
There are two categories of this type of insurance, they are;
This is a cover for equipment and workers at a construction site. This is done in case an injury is sustained or the machine becomes faulty.
This is a type of insurance that all owners or occupiers of public buildings, whether private or public, are required to provide. This type of insurance is compulsory as it covers the occupiers of buildings.
This is a type of insurance policy that a bond issuer purchases that guarantees the repayment of the
principal and all associated interest payments to the contractor in the event of default. This insurance
policy has several types, which are:
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