Mutual Benefits Assurance highlights benefits of Fire and Special Perils cover
Mutual Benefits Assurance Plc
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Mutual Benefits Assurance Plc creates insurance awareness on Fire and Special Perils Insurance Policy, designed to protect individuals and businesses against unexpected losses arising from fire and related risks.
The company says the initiative is part of its commitment to safeguarding assets and ensuring financial stability for policyholders in the face of rising incidents of fire outbreaks and environmental hazards across Nigeria.
According to the insurer, the policy provides comprehensive cover for damage to insured property caused by fire, lightning, and explosion. It also extends protection to a range of allied perils, including storms, floods, earthquakes, malicious damage, and impact by vehicles or animals.
Mutual Benefits Assurance notes that the cover is applicable within Nigeria and is structured to support both residential and commercial property owners. The company emphasised that policyholders are required to disclose all material facts, pay premiums promptly, and notify the insurer immediately in the event of any incident.
“In the event of fire, insured parties are expected to take reasonable steps to minimise losses and cooperate with claims adjusters to ensure a smooth settlement process,” the company states.
The insurer further explains that coverage becomes effective immediately after the issuance of the policy document, subject to terms and conditions, and runs until 4:00 p.m. on the policy’s expiry date.
Highlighting the benefits, Mutual Benefits Assurance says the policy guarantees restoration of financial loss, continuity of business operations, and repair or replacement of damaged property.
Industry observers note that such policies are increasingly critical as businesses and homeowners seek to mitigate risks and ensure resilience against unforeseen disasters.
For more information on Mutual Benefits Assurance Plc products, visit any of the nationwide branches, call 2348169042592, or email info@mutualng.com.
