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What does the right home insurance cover look like?



Buying home insurance is easy, but identifying a policy that offers more than just a cushion against unforeseen events poses a challenge to most homeowners in Kenya and around the world.

Let’s say you’re sitting at your kitchen table, sifting through home insurance brochures or scrolling on your phone trying to pick the best insurance policy for your home. Everywhere you look, there are ads and recommendations. You compare rates, check for coverage against natural disasters and not forgetting theft, and maybe even ask a neighbor for reference. Once you’ve finally made your decision and picked the right cover for you, an afterthought often nags -“Did I pick the right choice for my home’s protection?”

To understand how Home Insurance works, here is what you need to know.

While many purchase insurance for legal compliance or peace of mind, we sometimes fail to notice some important aspects of insurance. In Kenya, the right policy considers your home’s value, its contents, your predominant concerns, and, importantly, your budget.

Here are three types of packages you should know as an owner:

Whether you are finally looking to build a house in Syokimau, or  invest in an Airbnb in Lamu, or have rentals in Kilimani, understanding these differences in insurance policies can make a significant difference in how you safeguard your assets.

  • Homeowners insurance:
    For most of us, owning a home is a monumental achievement, not only embodying a physical structure but also a place of memories and milestones. This package is for individuals with primary residences, offering in-depth protection for both the house and its contents. This insurance also covers a wide spectrum of risks, guarantees the security of domestic staff and manages potential third-party liabilities.
  • Renters insurance:
    The flexibility and freedom of renting come with its unique responsibilities. For individuals residing in rented properties, renters insurance becomes the shield against potential threats to their personal belongings. While it provides a comforting blanket of security for items from theft or damage, it’s essential to remember that the physical structure of the rented property remains outside its purview. That responsibility, typically, is the landlord’s to bear.
  • Furnished rental-apartment owners’ insurance:
    Diving into the world of furnished rentals, such as Airbnb, is a thrilling investment. Insurance tailored for owners of these spaces ensures they’re well-covered. It not only addresses the recovery of household items but also accounts for bodily injuries from accidental injuries or property damage caused by third parties.And importantly, it offers a protective layer for domestic employees, shielding them from unforeseen situations in compliance with the Work Injury Benefits Act.

In conclusion:
The type of home insurance policy that is right for you will depend on your individual needs and circumstances. By taking the time to choose the right home insurance policy, you are not only investing in your property but most importantly protecting your home and peace of mind.

We hope this article was insightful. If you are interested in getting a quote from us or would like to learn more about Madison Home Insurance, please feel free to contact us on 0709 922 616.

This article was written by the Digital Branch at Madison General Insurance Kenya.

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