Whether it’s your home or your business, you have probably invested a considerable amount of time, effort and money in your property. Fire insurance will protect your property and investments against loss or damage from perils such as fire, lightning and flooding.
What can Mawenzi policy offer me?
- Risk assessment and prevention
- Detailed property evaluation
- Independent loss adjusters
What is covered?
- Fire,
- Lightning
- Explosion
- Many additional perils such as:
- Earthquake,
- Riot and Strike,
- Malicious Damage,
- Flooding,
- Impact Damage,
- Aircraft,
- Burst Pipes etc.
Additional Clauses
- Claims preparations costs
- Escalation clause
Property found within the geographical limits (thus within the United Republic of Tanzania)
a) Limitations and exclusions
i) Average: the customary property insurance requirement for full insurance, with a penalty for under-insurance in the event of a claim applies.
ii) Excess: it is not usual to have an excess in respect of the basic cover, but one may apply with certain of the extra perils.
iii) Policy exceptions: the “standard” exclusions relating to war and nuclear events appear with a number of others, often relating, to perils which may be added as extras. It is not necessary for us to make a complete list of the policy limitations but it should be noted that theft during or after the occurrence of a fire is specifically excluded.
b) Premium basis
As with most property insurance, the premium is a rate (per cent or per mile) applied to the sum insured. Properties are classified according to relative for rating purposes, with loading or discounting of premium as appropriate to individual features.
