Property Insurance - News & More - Nigeria Property Centre

Posts with tag "property insurance"

A new synergy that is aimed at increasing maintenance culture within the nation’s construction industry as well as protecting homes from burglary and fire incidences has been formed, courtesy of Portland Paints and Products Nigeria Plc and Mutual Benefits Assurance Plc.

At the signing of a Memorandum of Understanding (MOU) last week in Lagos between the two firms, it was said that the strategic partnership would provide a platform to encourage house-owners to paint their houses, make their dwelling environment neat and hygienic, as well as have them insured at no extra cost, thereby providing the peace of mind incase of any unforeseen incident.

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The thought of moving into a new house you just rented or bought is usually exciting. Its fun knowing you’re about to make a new home and a new nest for yourself and family. But at the same time moving into a new place can be very challenging. And tiring too!

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Property prices are expected to increase following the commencement of an Insurance Act that makes it mandatory for property owners or contractors to insure buildings with more than two floors in respect of construction risks. The enforcement of this law commenced on the 1st of March.

The law makes it compulsory for occupiers and owners of public buildings such as tenement houses, hostels, hotels, hospitals, offices and schools to insure against hazards of collapse, fire, earth quacks, storms and floods.

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