This is an all-around package of Home Insurance that provides comprehensive protection for homeowners against Fire, Burglary, Employees, WIBA for employees, and any liabilities that may arise. Further, the policy allows an individual to incorporate a life insurance benefit.
Home Pack Insurance
What is Home Pack Insurance
Section A Buildings: These are the residential buildings where the Insured is the owner of the building, including landlords’ fixtures and fittings; walls, gates, fences, terraces, patios, drives, paths, carports, garages, and outbuildings as far as they form part of the property.
Section B Contents: The contents of the residence mean household goods and personal effects of every description, such as furniture, clothing, bedding, fixtures, and fittings belonging to the insured or members of the family.
Section C All Risks: The items insured under this risk are movables that are carried in and out of the building. Examples are mobile phones, laptops, jewelry, watches, cameras, gas cylinders, and golf equipment.
Section D Work Injury Benefits (Domestic Employees): Under this section of the policy, domestic employees are covered for injuries sustained in the course of their employment.
Section E Employer’s Liability: This section protects the insured if their domestic employee takes legal action against them for a work-related injury or illness.
Section F Owner’s Liability: This section covers the insured’s legal liability as the owner of a building for death, injury, or property damage to third parties.
Section G Occupier’s Liability: This section covers the insured’s legal liability as the occupier of a building for death, injury, or property damage to third parties.
- Life Rider Benefit –The life policy rider covers the insured, spouse and other named dependants in the event of death arising from either accident or illness. The life rider cover limit is the policy’s sum insured though not exceeding Kshs. 3 million per person.
- Personal accident cover -This extension provides compensation in the event of death or permanent disablement caused solely by violent, accidental, external, and visible events.
- Critical illness – This benefit pays the insured following the diagnosis of an illness covered like cancer (except those excluded in the policy document), major organ transplant (kidney, lung(s), liver, heart, and bone marrow), heart attack, stroke, renal failure e.t.c with a waiting period of 6 months
- Terrorism and political violence cover- This extension covers the insured against physical loss and damage to their property as a result of a terrorist act or acts of political violence such as riot, strike, civil commotion, revolution, rebellion, insurrection, sabotage, coup d’état, and malicious damage. The premium payable is as follows.
- Guest Effects -This extension covers loss or damage to effects of long-term guests at the insured residence subject to a minimum stay period of 1 month. The maximum benefit under this extension is Ksh 20,000.
FAQ
What is a policy excess?
This is the first amount payable by the insured in the event of a claim. The amount is either a stated amount or
a percentage of the item insured. In this policy, there are various excesses applicable under each section as as indicated below and in the policy document:
- Earthquake: 2% of the sum insured up to a maximum of Kshs. 5,000,000
- Contents: 10% of each and every loss minimum Ksh. 5,000
- All risks; Mobile phones:10% each & every loss minimum Ksh 1,000 & All others: 10% of each & every loss minimum Ksh 5,000
Why is it important to revise the policy schedule?
It is vital to update/ revise the policy schedule as well as to reinstate cover for claimed items. Any added items will attract an additional premium and any deleted item will result in a refund if no claim has been paid. The revisions
to the policy are done upon receipt of instructions.
Why is depreciation factored under this policy?
As you continue to use an item(s), their value goes down due to gradual deterioration or decrease in value that we take this into account when processing a claim.
What factors would impact the change in premium at renewal?
- Client’s claims history
- Changes in the industry pricing
- Revised sums insured
- Legal/regulatory charges that affect the insured premium
What will I need to do to cancel a policy?
A customer will be required to issue written instructions to us to cancel a policy. Upon receipt of instructions, we will
proceed to cancel the policy and refund the premium on a pro rata basis. Where there has been a claim, no refund premium is applicable.
Can the insurer cancel my policy?
Yes, if policy terms are breached or in the event fraud is detected. We will issue a cancellation notice as per the terms of the policy, effect cancellation upon expiry of the notice, and refund pro rata premium where applicable.
How will the insurer get in touch with me?
A customer will be required to issue written instructions to us to cancel a policy. Upon receipt of instructions, we will
proceed to cancel the policy and refund the premium on a pro-rata basis. Where there has been a claim, no refund premium is applicable.
What are the insurer’s requirements before onboarding a risk?
- Completed and signed proposal form
- Copy of KRA pin certificate
- For an individual, a copy of the proposer’s national identification card. For non-Kenyans, a copy of a passport or alien identification card is acceptable.
- For corporate, a copy of CR12 for corporates, certificate of incorporation.
- A schedule of items is proposed to be insured otherwise a single article limit of Ksh 50,000 will apply.
- For jewelry, a current valuation report for any item valued above Kshs. 50,000. Valuation report to be obtained from a professional jeweler.
- Full premium payment
