BY NKECHI NAECHE-ESEZOBOR—At the weekend, a fire outbreak occurred at a residential building on Bola Street, Oyingbo, claiming the life of a 103-year-old woman and completely destroying her home.
The inferno also spread to six adjoining shops, destroying goods and properties estimated to be worth millions of naira.
For the affected shop owners, recovery will be a long and difficult journey, as many will be forced to start from scratch to rebuild their livelihoods. The homeowner faces even greater challenges, having lost her property at a time when building material costs have skyrocketed, with no insurance coverage to cushion the loss.
This tragic incident underscores the importance of insurance. Property insurance policies, such as those offered by Linkage Insurance Plc, are designed to protect individuals and businesses against losses or damage caused by fire, lightning, explosions, and other unforeseen events.
This heartbreaking event is a harsh reality that fire can strike without warning, and having adequate insurance cover is essential to safeguard homes, businesses, and livelihoods from devastating and irreparable losses.
Property insurance cover provides compensates if your building or belongings are damaged or destroyed due to covered risks.
According to Linkage Assurance, its property insurance policies provide comprehensive solutions for individuals, homeowners, and businesses, helping to protect valuable assets and ensure business continuity.
Key Property Insurance Solutions of the company are:
a) Fire & Allied Perils Insurance: Comprehensive protection for buildings, furniture, equipment, and electronics against fire, lightning, explosions, riots, floods, storms, earthquakes, impact damage, aircraft crashes, and other natural disasters.
b) Industrial All-Risk Insurance: Extensive coverage for industrial and commercial properties against multiple risks under a single policy.
b) Homeowners Insurance: Tailored protection for homeowners and tenants, covering residential property and household contents.
c) Theft & Burglary Insurance: Financial protection against losses arising from theft or forcible entry.
-All-Risk Insurance: Covers accidental loss or damage to valuable personal and business assets.
-Business Interruption Insurance: Protects cash flow by compensating for lost income following insured property damage.
These above products pay compensation on the following:
• Fire, lightning, and limited explosions
• Riots, strikes, lockouts, and civil commotion
• Malicious damage and vandalism
• Storms, floods, and bush fires
• Earthquakes and volcanic eruptions
• Aircraft, vehicle, or animal impact
• Escape of water from burst pipes or tanks
• Accidental damage under All-Risk covers
Other benefits attached to the products are:
-New-for-old replacement of damaged plant and machinery under the Industrial All-Risk Policy.
-Alternative rent coverage under Fire and Householders policies
-Risk management advisory services to help prevent losses before they occur
-Limited terrorism cover available as an extension under selected policies
Fire insurance cannot stop a fire from happening but it can give you financial support to start afresh. With Linkage Insurance Plc, you can secure your home, protect your business, and preserve your household items against the unexpected.
