What is a Building Insurance?
Buildings insurance is designed to provide financial protection if there’s damage to the structure of your home, such as the walls, roof and floors. It usually covers damage to fixtures and fittings too.
Best Building Insurance In Kenya
JIA is the top insurance agency in Kenya which offers protection against liabilities by offering good insurance coverage.
A home insurance policy in Kenya also offers protection in case of any liability that arises out of accidental damage occurring due to a third-party member within the boundaries of your property.
Which is the most profitable insurance company in Kenya?
Among insurers listed on the Nairobi Securities Exchange, Sanlam is the most profitable with a claims ratio of 59.4 percent. It is followed by Britam (63.2 percent), CIC (67.2 percent) and Jubilee 69.4 percent.
Which insurance makes the most money selling?
Life insurance
Insurance agent commission rates – policy type
| HOW MUCH DO INSURANCE AGENTS MAKE IN COMMISSIONS PER POLICY TYPE? | ||
|---|---|---|
| Car insurance | 5% to 15% | 2% to 5% |
| Home insurance | 5% to 15% | 2% to 5% |
| Health insurance | 5% to 10% | 1% to 2% |
| Life insurance | 40% to 120% | 1% to 2%, may end after the third year |
Do insurance companies make money?
Insurance companies make money primarily from premium income, but they also invest the accumulated premiums in financial instruments to generate investment income.
They also earn revenue from sources such as fees for policy services and commissions from partnering with agents and brokers.
How does insurance works?
Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses.
The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.