What is Home Insurance?
Home insurance protects you financially in the event of circumstance that could make you lose your property. It is a type of insurance that covers the residence and various items one can lose to theft, fire, lawsuits, etc.
Home Insurance in Nigeria: How it Works
Generally, in Nigeria, home insurance covers personal items that are usually present in the home. These include TV, computers, phones, documents, etc.
Typically, you might not insure these items as a single cover. Except the sellers or manufacturers cover them directly.
So if you want to insure your TV, it will fall under Home Insurance. Depending on the company, you’ll have to protect at least two or three items in the house for home insurance to be activated. This type of insurance can also cover accidents that may happen in the home.
Home Insurance Coverage
- Liability for third party losses
- Cover on items you take out and about, whether you’re at home or on holiday
- Death
- Bodily Injury
- Fire
- Burglary & Theft
- Environmental damage (rain, lightning, and wind)