Our homes are our pillar of identity and comfort. It takes alot of hard work and dedication to acquire, build and maintain the cumulative value that our homes represent . To have an ethical and trustworthy partner for the security and stability of our homes is critical.
The Takaful Domestic Package policy covers home owner or occupier against a wide range of perils and specified liabilities. The policy is divided into five main sections namely:
Section A : Building:Covers loss or damage to buildings.
Section B : Contents:Covers loss or damage to contents in the house.
Section C : All Risks:Covers loss or damage to valuable and movable items.
Section D : Workmen Injury Takaful: Covers domestic employees against injuries while working.
Section E : Owners Liability: Covers the liabilities of the owner of the home.
Section F : Occupiers Liability: Covers liability of the occupier of the home.
The long term effect of fire could be devastating and harmful to both the business and the premises.The Fire Consequential Loss Takaful provides security for our clients against loss of profit which would otherwise have been earned had the fire damage not occurred .This cover provides peace mind to our participants against such effects of fire.The policy indemnifies the participant against:
- Net profits which would otherwise have been earned
- Reimburse those charges which continue regardless of the reduction in turnover
- Meet such additional costs as are incurred to enable the business recover more quickly or reduce the loss
- This policy is given only where there is an existing fire material damage policy.
The standard Fire Policy provides indemnity against material loss to the property caused by:
Fire :To constitute a fire within the meaning of a fire Takaful policy three requirements must be complied with:
There must be actual ignition
There must be something on fire that ought not to be on fire
The fire must be accidental or fortuitous in origin
Lightning : This is covered whether a fire occurs or not. All the participant has to prove is that lightning caused the loss.
Explosion : This includes explosion of boilers and gas used for domestic purposes only.
The fire policy may also be extended at an additional contribution to cover losses arising out of the following special perils.
- Explosion other than the one mentioned above
- Riots, strikes and locked out workers
- Malicious damage
- Earthquake, Storm, tempest
- Flood, Escape of water from any tank, apparatus or pipes
- Impact by any road vehicles or animals
- Aircraft and other aerial devices
- Bush fire
- Spontaneous fermentation or heating
- Subterranean fire
- Subsidence, ground heave and landslip
This results in what is commonly known as Fire & Perils Takaful.