Insurance Category: General Insurance

Your home and the assets in your home are some of the most important belongings to your family.

Cover your home and the contents you so love with the Co-op Bancasurrance Domestic Package.

This product allows you as the homeowner or the tenant to benefit from several policies that are comprehensively packed in one package.

Overview

1. Buildings

Covers building against loss resulting from fire lightning, earthquake, storm, flood, burglary, accidental impact to the building, bursting or overflowing of water tanks, escape of water from storage facilities, falling trees, riot and strike, explosionS from domestic gas cylinders, impact from aircraft or other aerial devices.

2. Household contents

The policy will provide insurance against loss or damage to furniture, electronics, cutlery, crockery and all other contents of all description against losses resulting from the perils in (buildings) above.

3. Cover for personal items

This part will provide cover for loss or damage to the following specified personal effects against all risks unless specifically excluded.

• Mobile phones
• Laptops
• Ipads
• Jewelry
• Spectacles
• LED and Plasma TVs
• Hearing aids
• Electrical installations e.g. DSTV, alarm systems etc
• Camera

4. Domestic employees

This will provide cover for legal liability to you as the employer under the Work Injury Benefits Act (WIBA) against:

• Accidental death or bodily injury in the course of duty.
• Medical expenses.
• Funeral expenses.

5. Third-party liabilities

This will provide cover for legal liability that may arise from accidental bodily injury or damage to property in connection with the ownership and /or occupation or the residence by the insured or his household.

There is an optional political, violence and terrorism extension to cover that covers against losses caused by terrorism or political violence.

Whether it’s your home or your business, you have probably invested a considerable amount of time, effort and money in your property. Fire insurance will protect your property and investments against loss or damage from perils such as fire, lightning and flooding

This policy covers projects on-site during the construction period, and, if required during the maintenance period.

This is a property insurance cover for any building or civil engineering project. Legal liabilities to third parties can be included as well.

The project is exposed to risks beyond the control of the contractor. The policy covers projects such as:

• Residential, commercial, office buildings, hospitals schools e.t.c
• Factories, power plants
• Roads and railway facilities, airports
• Bridges, dams, tunnels, water supply and drainage systems, canals, harbors (county projects)

NB:- Target the above projects for business)

Rate

Machinery

• 1% minimum Kshs.20,000/=(Inclusive of riot & strike)
• PVT = 0.3% minimum Kshs.6,000/=
• T.P.O. 5,000/= (For road risks)

Constructions/Projects

• 0.15% of contract value, with a maximum sum insured of Kshs.299 million.
• Third party property liability – 5M per event & 100M per year

Excesses:-

• Acts of God: 5% of loss minimum Kshs.250,000/= for contracts above Kshs.10M.
• 5% of loss minimum Kshs.50,000/= for contracts below 10M
• All other claims: 10% of loss minimum Kshs.50,000/=

Extensions

• Professional fees: 5% of contract value maximum Kshs.500,000/=
• Debris Removal: 5%of contract value maximum Kshs.500,000/=

NB:- All projects/machinery above Kshs.300 million seek separate quotation)

Parties to be covered

• The principal
• The contractor

Exclusions

• War and war-like risks
• Nuclear risks
• Gross negligence of insured
• Cessation of work, total or partial
• Deductible
• Consequential losses
• Faulty design
• Defective material and or workmanship
• Wear and tear, etc.
• Files, drawings, etc.
• Losses discovered at the time of taking inventory
• Vehicles licensed for general road use

This is an affordable comprehensive, tailor-made cover that enables landlords to benefit from several policies in a single package. Subject to the terms and conditions, the policy is offered upon the fact that the buildings are owned solely for rental purposes only.

Buildings

This policy provides insurance coverage for the building against losses resulting from fire, lightning, earthquake, storm, floods, burglary, accidental impact to the building, bursting or overflowing of water tanks, escape of water from storage facilities, falling trees, riots and strikes, explosions from gas cylinders, impact from aircraft or other aerial devices.

Electrical Installations

This policy covers the following named electrical installations – CCTV /alarm systems, dishes e.g for DSTV and, water pumps and electric fences against all risks unless specifically excluded. This forms part of the sum insured but needs to be captured separately at the proposal stage.

Loss of Rental Income – Optional

The policy covers for loss of rental income to a maximum of 12 months following loss occasioned by the perils in (buildings) above.

Contents For Fully Furnished Rental Apartments /Homes – Optional

This policy provides cover against loss or damage to furniture, electronics and other contents as described in the schedule against losses in (buildings) above. In addition, this section also covers thefts occasioned by the tenants.

Mortgage Monthly Loan Installments – Optional

This policy covers loan repayment following an occurrence of an insured event that leads to total loss of rent for a period not exceeding three months subject. It is anticipated that within three months the adjustment report should have reached the company and a final position on the loss will be known. There are two options available:

• With a time excess of 30 days
• With a time excess of 60 days

Cover For Building Caretaker – Wiba Act 2007

This policy provides cover against legal liability to you as the employer under the Work Injury Benefits Act (WIBA). The cover available is for:

• Accidental death or bodily injury in the course of duty
• Medical expenses
• Funeral expenses

Third Parties Liabilities

This policy provides cover for legal liability that may arise from accidental bodily injury or damage to property in connection with the ownership of the building.

This policy is designed to provide financial help if the insured has an accident or injury or if they suffer a fatal injury.

The principle member should be between 18-85 years. Children and legal spouses are included as dependents.

This cover can be annual or short-term. The short-term cover is designed for students who require the cover while on their industrial attachment. It can also be taken by schools to cover students against accidents while at school in the school bus or where they are at school-based activities like sports.

This policy covers goods in shipment is to protect the damage caused to goods and the related expenses.

Whether you are buying or selling goods from or to the international market, there is always a risk that they may be delayed, damaged, or lost in transit.

Cover your goods from uncertainties

This policy is designed to provide cover against unforeseen and sudden physical loss or damage to the machinery by any cause subject to excepted risks.

Machines are an integral part of all manufacturing and industrial units engaged in production of industrial/household goods. These may be large industrial establishments or small and medium enterprises and any unexpected accident/breakdown to their critical machinery brings production to a standstill adversely affecting business and causing a financial strain towards repair or replacement of the affected machinery.

The Machinery Breakdown Insurance offers coverage to your organization against these sudden unforeseen accidents/events.

This policy provided financial compensation against loss or damage to property contained in your premises by acts of Burglary or housebreaking.

Whether it’s your home or your business, you have probably invested a considerable amount of time, effort and money in your property. Fire insurance will protect your property and investments against loss or damage from perils such as fire, lightning and flooding

This policy can also be extended to cover riots, strike, malicious damage, storm, earthquake, and impact by vehicles, aircraft and other aerial devices, subterranean fire, spontaneous combustion, explosion of industrial boilers and economizers, flooding, water damage due to bursting or overflowing of water tanks, apparatus, and pipes.

Wherever your global trading operations may take you, don’t stress. Talk to us about our Marine Insurance Cover today!

Golf is a popular sport and offers a range of health benefits. Play the sport with confidence knowing that you are covered against injuries that may occur in the field while playing golf.