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Insurance news

Home insurance Cover; Resolution Kenya Insurance Services

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The Resolution Kenya home insurance cover is designed to cover the house, contents domestic employees as well as protects the owner against legal costs arising from incidents or accidents.

Benefits

Resolution Home Insurance Policy gives indemnity to restore/compensate you against losses or damage arising from any of the following causes:

  • Fire, lightning, earthquake, storm or floods,
  • Explosion of domestic appliances,
  • Riots & strikes and malicious damage,
  • Damage caused by falling aircraft or other aerial devices,
  • Bursting or overflowing or water tanks apparatus or pipes,
  • Impact by vehicles, animals and falling trees or branches,
  • Accidental death or injuries to domestic employees,
  • Legal costs arising out of acts or omissions of the owner of occupier,
  • Loss, accidental damage, and or theft of items covered.

Related Content:

What is covered?

A – Buildings

Covers a private dwelling house or private flat including domestic outbuildings, fixtures and fittings walls, gates and fences all on the same premises.

B – Contents

Covers loss or damage to personal belongings like furniture, household goods, electrical equipment and other personal items if they are stolen, destroyed by fire or other insured event.

C – All Risks

Covers items that are taken out of the house like jewellery, laptop computers, mobile phones, cameras etc.

D – Workmen Injury Benefit Act

WIBA cover for both indoor and outdoor domestic servants. 2 workers are covered for free.

E & F – Owners & Occupiers Liability

Covers legal liability in respect to third party injury or damage to property parties arising from the insured’s negligence as owner or occupier of the property insured under the policy.

How to Claim

  • Notify the nearest police station for all losses.
  • Notify Resolution Insurance of the claim and submit all relevant documents.
  • Resolution Insurance will then process the claim
  • Admissible Claims are paid within 7 days of signing discharge voucher.

Special Conditions / Exclusions

  • No one article shall be deemed of greater value than 5% of the Total Sum Insured on the Contents or Kshs. 50,000/= unless such article is specifically listed in the schedule.
  • The total value of Platinum, Gold and Silver articles, Jewellery and Furs shall not exceed ONE-THIRD of the Total Sum Insured on Contents unless specially agreed herein and accompanied by Valuation Certificates.
  • Un-occupancy – 7 days for contents, 30 days for buildings (Subject to the building being under the care of a caretaker at all times)
  • Terrorism & Political Risks Exclusion
  • Mechanical or Electrical Breakdown
  • Wear and Tear, Depreciation, Atmospheric Conditions
  • Breakage of Glass or Articles of Brittle Nature unless caused by Fire or Theft
  • Excess on Section C only: 10% each and every loss minimum KES. 2,000
Insurance news

Best top 5 Insurance Tips when buying a policy

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Insurance cannot prevent something bad from happening. But it helps us recover financially if something does happen to something we value.
There are essentially four types of insurance, namely: Car Insurance, Home Insurance, Travel Insurance and Funeral Insurance.

Here are five tips for buying insurance:

1). Shop smart.

When looking for insurance, your No. 1 priority should be to find adequate coverage. Price is important, but you’ll want to determine what kind of coverage you need first. Then you can fit that coverage into your budget and determine which carrier can provide you with the most comprehensive policy for your situation. You may be tempted to choose insurance with the lowest price tag, but if you don’t have enough coverage (or the right kind of coverage), you will see less financial benefit when it comes to filing a claim.

2). Look for discounts.

Once you evaluate your coverage needs, factor in your budget and find ways to save. Ask your insurance agent if there are any discounts on your coverage. Often, carriers offer discounts for things like paying your policy in full, staying auto accident-free or, if you’re in school, getting good grades. You also can save money by “bundling” multiple policies, such as purchasing a home and auto policy from the same carrier.

3). Fill in the gaps.

An average policy will cover the basics, but you may need to add extra coverage to meet your unique needs. For instance, you may have items like electronics or a nice piece of jewelry that would be financially difficult to replace, even with the assistance of your average renters or homeowners policy. You may want to add additional coverage for these items.

4). Purchase life insurance.

You aren’t too young. Life insurance is essential, no matter how young or old you are. And for millennials, buying now may be a smart move because it’s cheaper to buy a life insurance policy when you’re young and healthy. This kind of insurance can help your family cover unexpected costs in your absence, including student loan debt or a mortgage, in addition to end-of-life costs. And if you have kids, a life insurance policy can also support their education or childcare expenses. Additionally, every millennial should consider long-term disability coverage, which helps you stay afloat financially if an accident happens and you become disabled and unable to work.

5). Talk to an insurance agent.

An insurance agent is an essential resource when purchasing insurance, especially if this is your first time. An agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an insurance agent can help make sure that you are getting the best coverage, for the best price. You’ll also benefit from the agent’s insurance knowledge; they know how to talk you through your options and actually explain what each policy includes. An insurance agent will make sure all of your assets are covered, help you find discounts or other ways to save, and be a valuable resource. As your life changes, your insurance needs change too.

Insurance news

Best Car Insurance policies: The Housing Finance Car Insurance policy details

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Accidents happen! Your car could get damaged or you may end up losing it through theft. If you value this investment, why not protect it? The Housing Finance Corporation, HFC, motor insurance contains options for you, for both your private and motor commercial vehicles.

HFC’s comprehensive car insurance covers any type of motor vehicle against accidental damage or overturning, loss or damage by fire and theft, malicious damage, perils of nature e.g. floods, earthquake, storms, hurricanes and third party liabilities – which provides indemnity to the insured for death or bodily injuries to third-parties and/or passengers; and damage to property belonging to third-parties.

The following are also covered under the car insurance at an additional premium;

1). Accessories –These include windscreen and Radio cassettes. They will indemnify you against theft of accessories where declared.
2). On request HFC will provide an Excess protector cover– This means no excess payable in the event of a claim for all material damage claims
3). HFC will provide you on request a Political violence, terrorism & sabotage
4). They will also provide you with a-Courtesy car while your car is undergoing repairs in the garage

Benefits to the Insured

1). HFC will have your car Repaired/or pay cash in case of loss or damage to the vehicle
2). They shall follow through the Settlement of claims arising from third party Bodily injury and third party property damage.
This motor insurance includes provision of an alternative vehicle for use in case the insured is involved in an accident and it’s in the garage
Our auto insurance takes care of any expenses incurred in processing claims, including having an advocate appointed represent you in court for third party claims

Requirements

1). Duly completed and signed proposal form from you
2). A copy of PIN from you or Company certificate of registration for companies.
3). PIN certificate for the company
4). Copy of Log Book
Applicable Premium

HOW TO FILE A CLAIM

a) Motor Vehicle Accident

I). Accident Claim form to be filled by the insured
Original police abstract
II). Copy of the driver’s license
III). Statement by the insured on the circumstances of the loss.

b) Motor Vehicle Theft

I). Motor Theft claim form to be filled by the insured
II). Statement by the insured on the circumstances of the loss.
III). Copy of the log book in the insured name
IV). Original Police abstract
V). Copy of the driver’s License.
VI). Statement by the insured/Driver.

c) Windscreen claim

I). Windscreen claim form to be filled by the insured
II). Photo of the broken windscreen
III). ETR receipt for prior replacements of the windscreen
IV). Photo of the replaced windscreen