Landlord’s Insurance
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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.
You must be a property owner
The policy provides the following cover options:
- Buildings and attached electrical installations
- Loss of rental income
- Contents for fully furnished rental apartments or homes
- Mortgage monthly loan payments
The policy offers the following features and benefits:
- Comprehensive cover for building, income, contents, mortgage and employees
- Deposit refund for tenants if the building becomes uninhabitable due to an insured peril
- Fire brigade charges covered up to KES 500,000
- Debris removal costs covered up to KES 500,000 after fire
- Replacement of keys or locks up to KES 5,000 after burglary or attempted theft
- Legal liability cover to third parties up to KES 1,000,000
- Free Work Injury Benefits Acts insurance for one caretaker
- 10% discount on landlord’s personal home insurance
- 10% discount on contractor all risk or construction insurance for future developments
- 10% cashback on prepaid premiums after three claim-free years
When reporting a claim, ensure the following requirements are met:
- Report the claim as soon as the client informs you
- Duly completed and signed claim form
- Police abstract report
- Receipts or invoices for contents or installations claimed
Consider the following tips to ensure proper cover and smooth claims:
- Ensure the property is registered under your name
- Keep proof of ownership documents secured in a safe place
