Having a home is a dream for every human being. Home is where we all belong. Home is where the whole story begins.
Co-operative Bank of Kenya (Co-op Bank) developed a cover that caters for your home and all that you love. This cover is the Co-op Bancasurrance Domestic Package.
Co-op Bancasurrance Domestic Package allows homeowners or tenants to benefit from several policies that are comprehensively packed in one package.
Overview of Co-op Bancasurrance Domestic Package
Buildings
This product covers building against loss resulting from fire lightning, earthquake, storm, flood, burglary, accidental impact to the building, bursting or overflowing of water tanks, escape of water from storage facilities, falling trees, riot and strike, an explosion from domestic gas cylinders, impact from aircrafts or other aerial devices.
Household Contents
The policy will provide insurance against loss or damage to furniture, electronics, cutlery, crockery and all other contents of all description against losses resulting from the perils in (buildings) above.
Cover for personal items
This part will provide cover for loss or damage to personal items against all risks unless specifically excluded.
Domestic employees
The policy provides for legal liability to employers under the Work Injury Benefits Act (WIBA) against:
- Accidental death or bodily injury in the course of duty.
- Medical expenses.
- Funeral expenses.
Third Party Liabilities
This will provide cover for legal liability that may arise from accidental bodily injury or damage to property in connection with the ownership and /or occupation or the residence by the insured or his household.
There is an optional Political, Violence and Terrorism extension to cover that covers against losses caused by terrorism or political violence.
Benefits under the package
- Free First aid kit for every household
- 1 free nanny training on safety and prevention, prompt detection when a child is ill, controlling bleeding, care of fractures, dealing with burns, common medical emergencies, your first aid kit, child abuse, detection and prevention, resuscitation and CPR and practical sessions.
- Emergency medical expenses the following assault during burglary up to 20,000/-
- One emergency ambulance rescue service per family per year following fire or burglary.
- 10 percent cash back for paid premiums after three years if the first three years are without a claim.
- Loss of personal money up to 5,000 shillings following fire or burglary.
- Cost of replacing damaged grilles following a burglary 5,000 shillings.
- Damage or loss of insured contents on transit while the insured is moving houses 20,000 shillings (following collision or overturning of conveying motor vehicle)
- Cost of replacement of keys/replacement of locks up to 5,000 shillings following an attempted theft or fire
- Cost of alternative accommodation following an insured event not exceeding 10 percent of the sum insured.
- Damage to contents in the freezer up to 5,000 shillings following continuous power failure for a period exceeding 12 hours.
- Mobilization (initial payment) up to 10 percent of a documented and valid claim for contents/building to the affected insured in the event of fire or theft.
- Cost of debris removal following a fire up to 200,000 shillings
- Fire brigade charges up to 200,000 shillings
- Damage to guest effects up to 20,000 shillings for any one event.
- Work injury benefits in insurance for the first two domestic workers- up to 2,000,000 shillings
- Owner/occupiers liability up to 2,000,000 shillings
Features and Benefits
- Comprehensively covers building, income, contents, mortgage, and employees
- Deposit refund for tenants in the event of an insured peril rendering the building inhabitable
- Fire brigade charges up to 200,000 shillings
- Cost of debris removal following a fire up to 200,000 shillings
- Cost of replacement of keys/replacement of locks up to 5,000 shillings following a burglary or attempted theft
- Legal liability to third parties for death, injury, or damage to their property arising out of ownership of property up to one million
- Free Work Injury Benefits Acts insurance for the building one caretaker
- 10 percent discount on the premium for the landlords personal home insurance
- 10 percent discount on Contractor all Risk/construction insurance for future developments
- 10 percent cash back for prepaid premiums after three years if the first three years are without a claim.
Cover Options
- Buildings as well as electrical installations attached to it
- Loss of rental income
- Contents for fully furnished rental apartments or homes
- Mortgage monthly loan payments
Claims
When reporting a claim, one should ensure to have the following in order:
- Report claim as soon as the client has informed you
- Duly executed claim form
- Police abstract
- Receipts/ invoice for contents/installations claimed