Product Offerings
Our ranges of General Takaful products are as follows:
Goods-In-Transit Takaful Cover
Goods-In-Transit insurance is an all risk policy which covers loss or damage to goods whilst in transit by road, rail or inland waters within the geographical limit of Nigeria.
The policyholder will be indemnified if the insured goods are lost or damaged by fire, theft, collision or overturning of the conveying vehicle whilst in transit or whilst in course of loading or unloading from the point conveyance to the stated destination or whilst temporarily housed in ordinary course of transit subject to the limits of this Policy.
Third-Party Motor Cover
Third Party Motor Takaful provides cover for the following:
- Damage to third party property up to a limit of N3,000,000
- Unlimited (but reasonable) liability for death / bodily injury to third parties.
To buy product, you will need:
- Chassis Number
- Engine Number
- Vehicle Registration Number
Marine Takaful Cover
Marine cover is intended to indemnify the participant against loss or damage goods during transit by water or by air.
Key Features
- It provides cover for the loss or damage in the case of accident concerning the goods being transported.
- Speedy claim settlement.
- The goods been transported MUST be permissible (Halal) items.
- The scheme is based on the islamic principle of al-Tabarru.
Plant/Contractor-All-Risk Takaful Cover
This is a type of Islamic insurance (Takaful) that provides coverage for construction projects. It typically covers loss or damage to the construction site, materials, and machinery, as well as third-party liability arising from the construction activities. CAR Takaful aims to protect contractors and project owners against financial losses resulting from various risks such as fire, theft, natural disasters, and accidents during the construction period
Comprehensive Motor Cover
A comprehensive motor takaful scheme is a MUST for every owner of automoble (motor vehicle/motor vehicle/motorcycle)
Key Features
- It provides cover for the loss or damage in the case of accident concerning your vehicle.
- You have option to choose which type of cover that you think would suit you best.
- The Third Party type of cover (liability for damages to third party ONLY).
- Comprehensive type cover.
- The scheme is based on the islamic principle of al-Tabaru.
- Participants are eligible to share of surplus where no claim is recorded.
Fire/Burglary/Allied Peril Takaful Cover
Combined Fire and Burglary is a business inclined policy available to private individuals and corporate firms to provide cover for any loss resulting from fire and allied perils or burglary for their shops, warehouses, offices e.tc and thus serves to provide capital to fast-track immediate return to business in the event of any loss resulting from these insured contingencies on the insured property or goods of the policyholder
Takaful Fidelity Guarantee Cover
Fidelity Guarantee is a form of Islamic insurance designed to protect businesses or organizations against financial losses resulting from dishonest or fraudulent acts committed by their employees. This type of Takaful policy provides coverage for losses arising from theft, embezzlement, forgery, or any other fraudulent activities perpetrated by employees in the course of their employment duties. Fidelity Guarantee Takaful helps businesses mitigate the risk of financial harm caused by employee dishonesty while adhering to Islamic principles of mutual cooperation and shared responsibility among participants.
Money/Cash Takaful Cover
Money/Cash Takaful Policy is a type of Islamic insurance that provides coverage for cash and money-related assets against various risks such as theft, robbery, burglary, fire, natural disasters, and accidental damage. This policy is particularly designed to safeguard cash holdings, banknotes, coins, and other monetary instruments owned by individuals or businesses. In the event of covered losses or damages, the Takaful provider compensates the policyholder accordingly, helping them recover from financial setbacks while adhering to Islamic principles of risk-sharing and mutual cooperation among participants.
Takaful Public Liability Policy
Public Liability Policy Takaful is an Islamic insurance product designed to protect individuals and businesses against legal liabilities arising from third-party bodily injury or property damage claims. This Takaful policy provides coverage for legal costs, compensation payments, and other expenses incurred as a result of such claims made by members of the public. It helps individuals and businesses manage the financial risks associated with accidental injuries or damages to third parties that may occur on their premises or as a result of their operations. Public Liability Policy Takaful operates in accordance with Islamic principles, promoting fairness, risk-sharing, and mutual cooperation among participants.
Takaful Professional Indemnity Cover
Professional Indemnity Cover Takaful is an Islamic insurance product that offers protection to professionals against financial losses incurred as a result of claims made against them for professional negligence, errors, or omissions in the course of their professional services. This Takaful policy provides coverage for legal costs, settlements, or judgments that may arise from such claims, helping professionals safeguard their finances and reputation. It operates in accordance with Islamic principles, promoting fairness, risk-sharing, and mutual cooperation among participants.
Takaful Payment Bond Policy
Payment Bond Takaful is a form of Islamic insurance that provides financial protection to parties involved in construction projects, particularly contractors and subcontractors. This Takaful product ensures that subcontractors and suppliers are paid in the event that the principal contractor defaults on payment obligations. If the contractor fails to fulfill their payment obligations, the Payment Bond Takaful policy compensates the subcontractors and suppliers for the outstanding amounts owed to them. This helps mitigate financial risks associated with non-payment and ensures the continuity of the construction project.
Property Guard Takaful Cover
This is a special plan designed to protect homes, belongings and other personal assets of Participant against loss or damage. Among what is covered includes, Theft accompanied by actual forcible and violent breaking into or out of participant home or any attempt threat including larceny ; Fire, lightning, thunderbolt, explosion ; Riot, Strike, Civil Commotion, malicious Damages and Vandalism ; Storm and tempest, flood, wind and hail, earthquake, subterranean fire, tornado ; Aircraft and other aerial devices or articles dropped ; Impact damage to the buildings by any road etc. Contribution payable for this cover depends on the value of the property to be covered and values of various assets in the house.