Home Insurance offers home owner compensation in case of a loss caused by risks that their properties are exposed to. It’s usually referred to as Domestic Package by most insurers in Kenya
Some of the risks that a home owner or dwellers face include:
- Fire & Perils (earthquake & lightning)
- Explosion due to domestic gas
- Impact by aerial devices or Animals
- Storms and floods
- Water damage due to bursting of water pipes and tanks
- Malicious damage
- Riots, strikes and civil commotion
- Burglary
- A great avenue for accumulating and keeping an emergency Fund
- A perfect opportunity for accumulating funds toward a future project
- A safe opportunity for custody of a lump sum fund
Is it necessary to take Home Insurance?
A house is an expensive and long term investment that one can own either by building or buying and furnishing it. Every day we are surrounded by risks which can bring down our investments in a matter of minutes. At Earnest insurance consultants, we are here to assist you safeguard your house by providing you with a comprehensive domestic package cover.
The domestic package covers your building including rental property. It also extends to cover your domestic servants for WIBA (Work Injury Benefit Act) and liabilities to other parties under the Owners and Occupier’s liability section.
Domestic Package Cover is classified to various sections to meet the needs of each client. Whether you are a Land Lord, a Tenant, a leasee, home owner or mortgagor, you need Home Insurance to safeguard your investment.
Insurable sections under Home Insurance/ Domestic package Include:
Section A-Building;
Under this section, the insurance covers loss of or damage caused by Fire to a private dwelling house including staff quarters, fixtures and fittings, walls, gates and any fences related to the insured building or homestead. This section also covers rental buildings that are purely dwelling apartments.
Apartments that have sections used for trade businesses purposes are insured under Commercial Fire insurance.
The risks under Fire & Perils
Fire covers damages caused by;
- Domestic gas explosion, other natural perils such as earthquakes, storms, lightning, and floods
- Human causes such as riots and strikes, damage from burglary, malicious damage
- Damage caused by overflowing or bursting of water tanks and pipes
- Impact by animals, motor vehicles and aerial devices
Section B- Contents;
This section covers loss or damage to household items such as furniture, beddings, clothing’s, kitchen ware, household appliances, fittings and artworks caused by fire or burglary (theft through forceful entry or exit from the building).
It is important to have a register of your house contents when taking a domestic Package insurance which should be updated regularly. Note at the time of loss, the insurance company will always refer to the list provided when proposing or renewing the cover.
Section C-All Risks
This section covers loss or damage to portable items such as jewelry, hand bags, laptops, mobile phones, IPad, Spectacles. It also covers items in the house which can be accidentally damaged such as TV screens, home theaters and other fragile items listed.
These items are covered against fire, theft, loss or damage while on transit, accidental damage within the house and any other risks unless excluded in the policy.
Because of the extensive risks covered under this section, it’s important to have all items and their values listed.
Section D- WIBA
Work Injury Benefit Act (WIBA) is an act of parliament which was enacted into law on 22nd October, 2007. This covers the domestic employees during working hours against death, medical expenses due to bodily injury or diseases contracted in relations to the work they do. Some insurance companies give this section for free for a specified number of workers (mostly two).
Section E and F- Owners and Occupier’s Liability
This protects the owner or the person occupying the premises (tenant) against any legal liabilities from third parties that may arise in connection with the use of the premise. This may be in respect to third party property damage or bodily injury.
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