Property Insurance Cover

Property Insurance Cover





Cope of Cover: The policy will provide indemnity for loss or damage to any of the properties insured resulting from fire, lightning, and the extraneous perils of tornado, flood, earthquake, explosion, riot, and strike, malicious damage, impact, aircraft damage, bursting and overflowing of water tanks, pipes and apparatus, bush fire.

It will cover all your assets, movable and immovable except Motor vehicles and Motorcycles.

Subject Matter: On your various properties or properties held in trust or on commission situate anywhere in Nigeria.

Discounts:  We will negotiate various discounts with the insurers to ensure you pay the minimum possible premium for the most comprehensive cover. These discounts includes Long Term Agreement Discount, Fire Extinguishing Appliance Discount and  Sprinkler Installation discount

Extensions: We recommend the following extensions to your Fire policy at no additional cost to you; Reinstatement Value Condition, Architects’, Surveyors’, Consultants’, Legal and Other Fees Clause, Temporary Removal Clause, Removal of Debris Clause, Property Acquisition Clause, All Other Contents Clause, Local authorities reinstatement Clause



Scope of Cover:  The policy will provide indemnity for loss or damage to the insured properties resulting from theft accompanied by actual forcible and violent breaking in or out of the premises or any attempt thereat or if there should arise any damage to the premises falling to be borne by you and which shall be due to any such theft or attempt thereat.

Subject Matter: On your various property or properties held in trust or on commission contained in your premises situate anywhere in Nigeria.

Discounts: Five -Year Long Term Agreement Discount.

Extensions: All other contents clause.


Scope of Cover: This policy will provide indemnity for loss or damage to Goods-in-Transit resulting from accidental collision or overturning of the conveying vehicles, fire, theft, riot and strike, loading and unloading risks.

Subject Matter: On various plants, machinery, equipment, and spare parts in transit anywhere in Nigeria.

Remarks: This Insurance will be on declaration basis and you have to submit at the end of each insurance period, the total value of Goods-in-Transit for premium adjustment purposes. If the actual premium earned is higher than the provisional premium paid, you will be required to pay an additional premium while a refund will be given if otherwise, subject to a maximum return premium of 25% of the provisional premium paid.



All Insurances covering loss by theft or burglary of property or cash exclude loss in which any of your employees is involved as principal or accessory. We recommend that you take out this Insurance to cover the infidelity of your staff that is in key positions with valuable items and large sums of money entrusted to their care.

The sums insured for each person would represent the total amount you think such a person can be responsible for at any given time or the maximum amount or value of goods which you feel any such individual can easily embezzle.

Defalcation by staff, even trusted ones has been known to occur and we therefore think you should avail yourselves of this protection.

Remarks:  Character Reference Clause: Kindly ensure that all employees to be insured under this policy have, at least, two satisfactory character references at the time of being employed. Whoever is to handle goods or money should be someone whose previous employers can vouch for. This is in compliance with the policy condition which stipulates that a minimum of two certified character references should be obtained prior to confirmation of the employee.

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