Policy Summary
Also known as Domestic Package, this policy provides cover to homeowners or occupiers for accidental loss or damage to the private home/buildings, household contents/ belongings resulting from fire, theft, riot and strike, malicious damage, theft, floods, explosion, earthquake, storm and tempest, lightning and thunderbolt, spontaneous combustion, bursting and overflowing of water tanks, apparatus, pipes, impact by road vehicles and animals not belonging to or under control of the insured or their agents, aircraft and other aerial devices. Cover may be extended to include Political Violence and terrorism. It also covers occupational (work-related) death, injuries or illness to domestic servants and personal liability for third party injury or damage/loss to third party property attributable to insured’s negligence.
Cover is normally extended to include cover for personal effects during short-term travel.
Client profile
This policy is ideal for homeowners occupying their own houses, Home or residential property owners who have rented out their houses to tenants, tenants who need to insure their contents, workers and liabilities e.t.c
What does one require to buy the product?
In order to place a Home insurance Package, the client will ideally need to complete a proposal form which contains the undernoted details:-
- Full Name of the client /proposer for insurance, physical residential address, Postal Address, Telephone Contact, PIN Number, Occupation (from which client derives his income).
- Value (s) of the property to be insured – Residential Building, Home contents, Number of domestic Employees, List and values of movable items and desired limits of liability.
Main Features
Section A (Buildings)
This section covers loss of or damage to a private dwelling house or residential flat including outbuildings, land lord’s fixtures and fittings, walls, gates and fences on the same premises caused by the perils under the policy summary above.
The cover is optionally extended to cover reasonable additional expenses incurred in alternative accommodation and Loss of rent payable to the client as a result of loss.
Section B (Contents)
This section covers loss of or damage to household contents/belongings, furniture, fixtures and fittings, household appliances, clothing items and personal effects of every description the property of the insured or any member of his family normally residing with the insured. The cover can be extended to cover temporary removal for contents specified in the schedule while temporarily removed from the premises/buildings on visit to any private dwelling residence, hotel, boarding house, nursing home or hospital or in a laundry etc. and reasonable additional expenses of alternative accommodation and loss of rent.
The policy covers the insured’s contents against all perils listed above under the buildings section and theft. Any item whose value constitutes over 5% of the total sum insured on contents must specifically listed when taking up cover
Section C (All risks)
This section covers loss, theft or accidental damage to valuables both within and outside the precincts of the residence. It provides cover for portable possessions including; jewelry, rings, spectacles, readings glasses, mobile phones, laptops, i-pads, projectors, tools, cameras, sports kits, works of art and clothing during travel etc., by any cause or peril not specifically excluded. The policy has a wide scope of cover and therefore the items covered must be specifically listed with the corresponding replacement value indicated against each item.
Section D (Work Injury Benefits Act)
This section provides compensation with respect to the insured’s employees both indoor and outdoor workers, in the event of death, bodily injury and any work injury related medical expenses including liability under the Work Injury Benefits Act (WIBA). The WIBA compensates any domestic servant who has sustained bodily injury or death by accident or diseases arising out of and in the course of his/her employment by the insured in the connection with the insured’s employment
The policy covers domestic servants like house help, watchmen/ guards, grounds men, gardeners and drivers.
Section E – Owner’s/ Occupier’s Liability
It provides indemnity to the policy holder, as owner or occupier where they become legally liable to pay for damages arising from and in connection with;
- Accidental bodily injury to any person other than a member of the policyholder’s household or a person in his service at the time of the occurrence giving rise to the injury or
- Accidental loss of or damage to property not belonging to or in the custody or control of the insured or a member of his household or a person in his service occurring on or about the premises /home during the currency of the policy
An example of a situation where liability can arise is where a dog attacks a passersby causing injury. The home owner or occupier will be legally liable to compensate the third party.
The cover is for liability occurring in the premises for which the insured is legally liable as the owner or occupier of the premises and is extended to include personal liability to the insured.
