State Insurance Company (SIC) Ghana Fire & Allied Perils Insurance

State Insurance Company (SIC) Ghana Fire & Allied Perils Insurance

Fire insurance gives the insured the requisite financial protection against assets acquired during his/her lifetime so that in the event of any misfortune the insured would be put in the same financial position he/she enjoyed just before the loss.

There are two (2) main potential buyers of fire insurance

  • the individual and
  • the entity (organization).
The Individuals need Fire Insurance as protection against his/her property including buildings, household goods and personal effects. The Organization including Commercial and Industrial entity could insure its buildings, plant, machinery and equipment, stock of raw materials, finished goods and profits.
  • Domestic Fire Policy (Private Premises)

This is our standard Fire Policy which pays for loss of or damage to insured items as a result of Fire, Lightning and Limited Explosion. i.e. Explosions from boilers used for domestic purposes.

This policy may be extended to cover the following Extra or Additional Perils at very low rates.

  • Commercial / Industrial Fire Policy (Business Premises

Commercial Insurance Fire covers the buildings, plant, machinery and equipment, stock of raw materials, finished goods and profits.

The perils covered are mainly as outlined under “Private Premises” except for;


This is usually exclusion under the policy but cover may be considered on the payment of additional premium. This extension covers destruction or damage to property resulting from explosion.



We normally inspect premises/contents to be insured under our Commercial Policies before cover is granted.

  • Business Interruption Or Loss Of Profits Insurance

Fire covers granted huge Industrial / Commercial concerns can be extended to cover consequential loss or Loss of Profits upon request.

A Fire causes not only material damage to property but a loss through interruption of turnover causing a business to cease earning profits. Our Loss of Profits Insurance makes good this type of loss.

Information required for Commercial Policy to be issued:

  1. Name & Address of Business Concern
  2. Type of Business / Occupation
  3. Construction of Building etc. (Please see details under Private Dwelling House)
  4. Values of Stock-in-Trade as ffs:
  5. Finished Goods
  6. Semi Finished Goods
  7. Raw Materials
  8. Fixtures, Fittings and Utensils-in-trade
  9. Office Equipment
  10. Other property to be insured

Types of Businesses Covered under our Policy for Business Premises include:

  1. Shops (Retail / Wholesale) & Contents
  2. Warehouses & Contents
  3. Manufacturing Concerns
  4. Petrol / Gas Filling Stations
  5. Printing Press & Contents
  6. Office Buildings & Contents etc.
  • Home Package Policy (For Houseowners)

This is a specially packaged policy that combines both Fire and Allied Perils and Burglary Insurance for House Owners who live in their own houses at a very moderate price.


In the event that it becomes necessary for the house owner to arrange alternative accommodation because his/her building is damaged, the company offers to pay ¢100,000 per month alternative accommodation for a period of six (6) months.


The Company offers to indemnify the Insured in respect of all sums, which the insured shall become legally liable to pay as damages consequent upon:

a) Accidental bodily injury to or illness of any person (whether fatal or not).

b) Accidental loss of or damage to property occurring in Ghana during the period of insurance.

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