What is Property Insurance

Property insurance provides protection against risks to property, such as fire, theft and some weather damage. Home insurance is designed to protect your home and possessions from high expenses related to disasters. It’s an essential piece in protecting your finances from potential disasters, such as fire, windstorms, floods or others. A major benefit of getting your property insured is that it covers the replacement value.

Types of Marine Insurance Policies

A person who wishes to enhance his existing health cover should definitely opt for the health insurance plan. Anyone at any age can fall prey to any critical illness. Having a health insurance plan provides a sense of relief without disturbing your hard-earned savings. Also employers can take this for their employees & group health plan.

• Householders Insurance Policy
• Time Policy
• Homeowners Insurance Policy

To get property insurance with ease, visit your chosen property insurance provider and get your policy proposal form. This is after you have chosen a policy that is best for you. After this, you will be required to fill out and submit the form, and your premium will be calculated based on the details you have given. You would then be required to present other documents like a valid identification, proof of property ownership and an evidence of premium payment before your certificate of insurance will be issued.
Proposal forms can be gotten online or offline, based on your insurer’s available services. Make sure to choose the covers that will benefit you. Also, note that getting more insurance coverage will increase the annual premium, but it will also reduce the premium for each policy category you have chosen.

Benefits Of Marine Insurance Plans in Nigeria

• All properties, landed or not, are prone to certain risks, human or natural. Getting a property insurance cover will give you protection from any of such related risks.
• The premium for property insurance doesn’t come at a fixed cost. If your home or building is situated close to a fire station for instance, or if fire alarms and sprinklers have already been installed in the buildings, premium charge annually or periodically will be considerably lower.
• Depending on your insurance plan, building insurance for one is designed to give cover for the total cost of repairs and rebuilding as a result of fire, vandalism, explosions or other natural disasters. Some plans also provide alternative accommodation if the state of damage does not make the house fit to live in for some time, while some others like the liability plan cover personal property damages that have in one way or another, affected a third party (e.g. the neighbors).
• Not only buildings but properties inside can be covered with a property insurance plan. In case of burglary or theft, for instance, a content insurance plan will give compensation for portable and moveable items that were lost during mishap.