Home insurance is a type of property insurance that protects a person’s house, furniture, and other possessions from theft and damage. We’ll talk about a few of the home insurance plans that are offered in Kenya in this article. Therefore, we need to understand: Content coverages, companies offering home insurance coverage, and home insurance cost
Home items insurance/content coverages
This insurance provides coverage in the event that your personal belongings or household items are stolen, damaged, or destroyed. Your television, computer, refrigerator, clothes, jewelry, and appliances might all fall under this category. If you own your home, you can include your goods insurance in your homeowner’s policy. This typically costs less than having separate policies. Remember to consider the value of your possessions while selecting this insurance. Consider what you could replace or lose if anything unfortunate happened. It is important to note that they exclude the following from their cover: Documents of various kinds, including securities for money, stamps, deeds, bonds, promissory notes, and manuscripts
Home insurance costs in Kenya
Home insurance protects against loss in this situation if the home or building is harmed by one of the aforementioned risks. A cover for contents with a KES 600,000 value can be purchased for between KES 6,000 and KES 10,000. You might anticipate a cost of KES 30,000 per year for a building valued at KES 30,000,000.
Companies offering home insurance in Kenya
There are several companies offering home insurance in Kenya, each with its own uniqueness, as follows:
Safaricom Home Insurance
It provides an annual home insurance package in collaboration with Jubilee Home Insurance Company of Kenya. By dialing *400#, choosing “House Insurance,” and carrying out the necessary processes, you can sign up for the service. The package makes sure that your home and belongings are protected, among other things, from burglary and damage brought on by domestic assistants as well as fire, electrical issues, floods, and other natural catastrophes. The benefit of paying for their packages in monthly installments is another benefit for customers.
It protects residential structures, including the landlord’s fixtures, fittings, perimeter wall, gate, and fences, against fire, human activity such as riot, strike, and malicious damage, explosions such as explosions of domestic gas cylinders, etc., and other causes such as bursting and overflowing of water tanks, equipment, and pipes, impacts by vehicles, and animal and human contact.
It is accompanied by three advantages:
- 7% off if you pay your premiums three years in advance.
- Discounted house painting Bonus for staying with us for three years; no claim fees
- Monetary compensation for lost rent while your building is being renovated.
Jubilee home insurance
They offer your housekeeper personal accident insurance, shielding you from any unintentional liability. They assert that they will protect all you cherish and have toiled to erect and permanently guarantee that your house will always serve as a haven for you and your family.
They cover: fire and associated dangers; coverage for electrical and electrical equipment;
home accident involving oneself (which can be extended to members of the family) and
settlement of the repair cost claim.
It includes both your individual liability and that of the others living in your household. The coverage also includes any costs and expenses you may incur should your domestic helper pass away, suffer an injury, or contract a disease while working for you, as specified by the Work Injuries Benefits Act.