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The basic HOCI- Residential policy covers various sections as per details below

Section I – Fire

It provides indemnity against loss or damage to the residential buildings described, caused by fire, lightning and explosion. However, the policy has been extended to cover damage to the building resulting from; political violence and terrorism, riots, strike, malicious damage, storm, earthquake, and impact by vehicles, aircraft and other aerial devices, subterranean fire, spontaneous combustion, explosion of industrial boilers and economizers, flooding, water damage due to bursting or overflowing of water tanks, apparatus, and pipes.

Requirements for insurance value of building(s) and outbuildings

This insurance covers residential buildings under mortgage.

Section II – Contents

It provides indemnity against loss of the insured’s contents, furniture, fixtures and fittings, household appliances, clothing items and all other household contents against fire & allied perils and burglary.

Requirements for insurance – list of contents with their insured values. For electronics to indicate the serial numbers of these items.

Section III –  All Risk

It provides indemnity against loss, theft or accidental damage to valuables both within and without the confines of the residence. It provides cover for portable possessions including; jewelry, rings, spectacles, readings glasses, mobile phones, laptops, i-pads, tools, cameras, works of art, amongst other portable items.

Requirements for insurance – list of items to be insured with their respective values. For electronics to indicate the serial numbers of these items.

Section IV – Domestic Employees

It provides insurance cover to the insured’s employees, both indoor and outdoor workers, in the event of death, bodily injury, and any work injury related medical expenses as per the WIBA Act 2007.

Requirements for insurance – number of employees indicating which work indoor and outdoor.

Section V – Owner’s/ Occupier’s Liability

It provides indemnity to the policy holder, as owner or occupier, where they become legally liable to pay for damages arising from and in connection with;

  • Accidental bodily injury to any person other than a member of the policyholder’s household or a person in his service at the time of the occurrence giving rise to the injury or
  • Accidental loss of or damage to property not belonging to or in the custody or control of the policyholder or a member of his household or a person in his service occurring on or about the Residence during the currency of the policy

Requirements for insurance – indicate the limits of liability preferred for insurance.

This policy is ideal for Business Owners, property developers, real estate owners, individuals, chamas and other groups that have taken out a mortgage to purchase residential house(s). It protects the insured in the event of destruction of the residential property resulting from the above insured perils.

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