Best Institutions for Property Insurance in Pakistan

Highlights of the Post:
Perks of Property Insurance in Pakistan
Askari General Insurance
Jubilee Life Insurance
IGI General Insurance
Alfalah Insurance

Some accidents in life like fire accidents, car accidents, and other natural catastrophes are inevitable. It doesn’t mean that you’ll stop partaking in the daily activities of life. The damage might be irreversible  and unavoidable, but you can provide a guard against unforeseen circumstances. So, we have compiled a list of some popular institutions providing property insurance in Pakistan. 

The list of the insurance companies in Pakistan is quite extensive. And, very few of them actually focus on property insurance. In order to reduce the legwork for you, we have compiled a list of top insurance companies that offer home insurance plans along with commercial property insurance. 

Let’s begin!

Property Insurance in Pakistan 

As discussed in our earlier post on how to get your home insured in Pakistan, the need for property insurance is just as essential as regular life insurance. Property insurance provides guard against accidents and damages. 

Property insurance and its basic purpose is to set a few policies that help keep your property protected in case of incalculable risks and incidents. There are a number of accidents that can take place within a property, for example a fire could break out, a robbery could take place, a natural calamity could occur, etc. With property insurance you can insure your homes and businesses fairly easily. 

Additionally, property insurance not only covers personal property, but also includes renter’s insurance for those living on rent. ‘

On a side note, if you need help for financing property investment, take a look at our recent post where we have compiled the list of banks providing home loans in Pakistan

Reasons for Choosing Property Insurance in Pakistan

Reasons for investing in Property Insurance in Pakistan
Benefits of property insurance in Pakistan

Like life insurance, there are a number of benefits of opting for property insurance in Pakistan. Although the idea of property insurance might not make sense to many people in Pakistan, it still remains just as important as any other form of insurance. All in all, property insurance is not less than an investment – the best thing is that it involves no risk and offers utmost security to your belongings. 

Nobody can deny the fact that house, jewellery, and cash are some of the most important assets for a person. They are also subjected to get stolen, damaged, or missing; this is where property insurance plays its vital role. Some of the reasons for getting property insurance include: 

  • It offers a sense of security to the owner against their property.
  • It compensates for loss and damage of property. 
  • It covers the cost of temporary living in unseen circumstances.
  • It offers protection for your property and its belongings. 

Now that we know of the advantages of property insurance, let’s take a look into all the available insurance companies in Pakistan that offer property insurance. 

Popular Property Insurance Companies in Pakistan 

Here are some of the insurance companies in Pakistan that offer to help you keep your property protected: 

  • Askari General Insurance Company Ltd 
  • Jubilee Insurance
  • IGI General Insurance
  • Alfalah Insurance

Askari General Insurance Company Ltd.
Askari General Insurance Company

Askari General Insurance Company (AGICO) was established in 1995 and is one of the leading insurance companies in Pakistan. It has branches all over the country. It is popular for having some of the most client-friendly services. They function under the Army Welfare Trust which makes their services top-notch.  They have the most responsive customer services and are available to answer queries from their existing and potential clients. 

The company has a number of pre-set insurance policies and products; one such insurance plan in their pre-set policies covers harms caused by fire, earthquake, explosion, impact damage, atmospheric disturbance, water damage, and burglary. The policy is called “Fire Insurance”. 

The contact details for the company are mentioned below: 

Jubilee Life Insurance
Jubilee Life Insurance

Established in 1953, Jubilee Insurance is one of the most popular and reliable insurance companies in the insurance industry of Pakistan. The company provides insurance for various degrees of risk attached to life and property. 

In their property insurance coverage, they offer guard against several incidents such as fire-led damage, natural disasters, and other similar unforeseen accidents that may occur to your property. 

There are two plans: 

  • Fire and Allied Perils: Property can be exposed to several hazards in a course of its lifetime whether it is a house or a commercial property. The destruction to property can incur huge losses to finances and human life. This category at Jubilee covers all damages incurred by fire and other such incidents. 
  • Property All Risk: This plan at Jubilee Insurance covers a wider range of incidents in comparison with the plan mentioned above, which only covers fire-led damages. 

The details for Jubilee Insurance are stated below: 

IGI General Insurance
IGI General Insurance Company, Pakistan

Established in 1953, the IGI General Insurance continues to perform exceptionally in the insurance industry. The company has continuously launched various services to keep their clients updated as per global standards. They have exceptional customer service and are consistent in making improvements in every aspect. 

In terms of property insurance, the company offers affordable property insurance plans for their clients under the name of “Home Cover” or “Home Content”. In the afore-mentioned policies, the rules suggest that the beneficiary will be receiving a complete reimbursement against accidental damage, lighting, explosion, or robbery. The plan includes compensation for the loss of things at home including money & valuables. 

The contact details for IGI General Insurance are as follows: 

Alfalah Insurance Company

Bank Alfalah Insurance Company

Alfalah Insurance company is a prominent name in the insurance market. It offers competitive and customised plans to their customers according to the needs and requirements of their property. The company has also been working endlessly to create awareness about insurance to facilitate the general public. 

It provides one of the most reliable and updated home insurance policies to its clients, making it one of the best decisions for homeowners to invest into property insurance. Their policies cover a plethora of damages caused by fire, natural perils, burglary, and other such scenarios. 

The contact details for Alfalah Insurance are as follows: 

Now that we’ve listed several of the companies that offer property insurance in Pakistan, you can make an informed decision. Since you’re here reading about property management, you might want to take a look at Jagah Online Blog for similar property-related articles. Also read our recent posts where we have listed some considerations before selling a house. 

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