We understand that home (domestic) insurance is not something you would naturally talk about at the dinner table. However, it is an important conversation that each of us should have, whether you are a tenant or a home owner. You have probably wondered about your home and what would happen if your belongings were to be stolen, if your house flooded or if your home employees were injured while on duty. We have rounded up a few frequently asked questions that will give you a better understanding of ICEA LION’s Home Insurance.
Can I Take Up Home Insurance If I Am a Tenant?
Yes. The ICEA LION Home Insurance covers both home owners and tenants. The cover is designed as a package with categories (sections) which you select depending on your insurance needs
What Does The ICEA LION Home Insurance Policy Cover?
Our policy covers the residential building & the various contents (moveable & immovable) within your home against loss (such as fire, theft among others) or damage; provides compensation for your domestic employees in case of injury or in the unfortunate event of their demise while on duty. Our policy also takes care of any legal costs associated with any events that leave you liable in your capacity as an insured tenant/ home owner.
Am I Covered For Potential Damage/Loss While Moving Houses?
Yes. However, this is available on request (as an extension) before you move house and on condition that you engage the services of professional movers.
Is it Expensive To Take Up An ICEA LION Home Insurance Policy?
No. The cover is quite affordable and depends on the value of the items you want to insure. For example, for a tenant with immovable assets (furniture, kitchen appliances, electronics, etc) worth KES 500,000 and movable assets (phones, laptops, jewelry, etc.) worth KES 200,000, the annual premium will be approximately KES 5,500.
Are My Domestic Employees Covered Under My Home Insurance Plan?
Yes. The ICEA LION Home Insurance plan has an optional section, under the Work Injury Benefits Act (WIBA) for domestic employees which covers them against injuries while on duty. It is worth noting, that while this section is optional under the policy, not taking it up can be costly as the law requires employers to pay their home employees up to eight years’ worth of their annual earnings in case of injuries leading to their incapacitation.
What Happens If My Home Floods?
Any loss or damage as a result of flooding caused by burst water pipes, water tanks and other water apparatus as well as natural disasters is covered under ICEA LION’s Home Insurance policy.
What Will Happen To Me If My House Is Completely Uninhabitable?
In the unfortunate event that your house is destroyed and rendered uninhabitable by any of the insured perils, a free alternative accommodation benefit of up to a maximum limit of 10% of the building’s value will kick in automatically. This will enable you to find a place to shelter while your building is being restored.
Can I Insure My Phone As Part Of My Home Insurance Package?
Your phone, laptop & other movable items can be covered within your home insurance package under a section called “All Risks”. We do not have a stand-alone phone insurance policy.
Will My Home Insurance Package Compensate Me For The Loss of Money & Other Documents In My Home?
Unfortunately, our home insurance does not automatically cover deeds, bonds, bills of exchange, promissory notes, cheques, travellers cheques, securities for money, stamps, documents of any kind, cash, currency notes, manuscripts, medals and coins. However, cover can be extended in the policy schedule from the outset upon your request.
Your home, whether built or rented, is your haven, and the last place you would want affected by any loss or damage. With ICEA LION’s Home insurance, we make sure that while we may not bring back all the memories you treasured, you will have a place to start from in the event of any eventuality.
Talk to us on 0719 071 999 to find out more about ICEA LION’s Home insurance.