Domestic package insurance provides financial protection against misfortunes befalling your residential house. Domestic package insurance is a combined policy. This means that it covers damage to or loss of your property and your liability or liability of members of your family to other people. Damage caused by most misfortunes is covered but there are exceptions such as terrorism, destruction of buildings by government or local authority, poor maintenance, electrical or mechanical breakdown loss of cash etc which are excluded. 

How much does it cost?

the domestic policy covers are relatively cheap ranging from Kshs. 3,000.00 to about Kshs. 10,000.00. The cost is determined by the value of the house contents covered.
What does standard domestic package insurance cover? 

A standard domestic package insurance policy covers four sections 

They include: 
a) Cover for the structure of your home (often referred to as Section A). 
b) Cover for personal belongings and contents of the building (Section B and C). 
c) Liability (Sections D, E, and F). 

Additional living expenses in the event that you are temporarily unable to live in your home because of a fire or other insured event is covered. 

a) Buildings (Section A) 
This part of your policy pays to repair or rebuild your home if it is damaged or destroyed by fire, lighting, storm or other disaster listed in your policy.

b) Personal belongings (Section B & C) 
Under section B the policy covers loss or damage to personal longings like furniture, household goods, electrical equipment and other personal items if they are stolen,destroyed by fire or other insured event.
An All Risks cover under Section C is often provided to cater for items that are taken out of the house like jewellery, laptop computers, mobile phones, cameras etc.

c) Liability protection (Section D) 
The policy covers domestic workers for injury or death arising from domestic work. This cover ensures that an individual is indemnified against under the work injury benefit Act (WIBA). 
d) E & F- They cover owners & occupiers liability

So, make an informed decision to protect your property……..

Article by: Joseph Maina, B.com & AIIK

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