Insurance Companies in Zambia 2024

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Before we look at the most popular Insurance companies in Zambia, let’s start by understanding what really an insurance company is before we cover a list of insurance companies in Zambia. There are a number of insurance companies in Zambia to choose from.

The term insurance company means a company whose primary and predominant business activity during the taxable year is the issuing of insurance or annuity contracts or the re-insuring of risks underwritten by insurance companies. A person or an entity in charge of providing the knowledge and insurance is called the insurer, through an insurance company. Buying insurance policies from one of these insurance companies in Zambia qualifies to be called a policyholder.

4 types of insurance coverage available in Zambia

Below we’ve outlined the four insurance policies, you can use for that expensive car, house, property, or health insurance policy provided by these insurance companies Zambia. types of insurance companies in Zambia. provide the following policies:

Life Insurance

The first one on the list is life insurance. It takes care of your funeral and those relatives you leave behind. Life insurance is a form of policy that most people in Zambia go for and is important for those dependent and worried about who’s going to take care of them. It’s the best option to go for and cover your expenses, including the funeral, and covers more of the income spent each year.

Most Zambians, including musicians, opt to purchase a life insurance policy because it takes care of their needs after even the funeral. Below is a list of companies that provide life insurance in Zambia

Auto Insurance

19th JANUARY, 2022 – During the year 2021, a total number of 32,372 road traffic accidents were recorded countrywide, of which 1,757 were fatal road traffic accidents of which 2,163 persons were killed, 2,988 were serious road traffic accidents in which 5,307 persons were seriously injured, 6,231 were Slight road traffic accidents in which 9,182 persons were slightly injured while 21,396 were recorded as Damage Only road traffic accidents.

The auto insurance policy covers any additional expense arising from such an event and repairs the damaged vehicle involved in the accident. Below is a list of companies that provide motor vehicle insurance in Zambia

Health Insurance

This form of policy covers anything related to health and any family illness, that might cause bankruptcy. In Africa the biggest problems, experienced are to do with health and finance. More than “70% of people in Zambia alone lack proper health care, hospitals have no medicine and needed equipment for advanced treatment. Medical insurance policy takes care of common illnesses people are diagnosed with. Below is a list of health insurance companies in Zambia

Property Insurance

Owning a house in Zambia is everyone’s dream. People have come to understand property insurance is the most important policy to have. It covers the mortgage and insures any asset including land purchased after getting a bank loan. I personally, used the property insurance for my farm which I considered a vital asset and warehouse, in case of a fire or theft. Below is a list of companies in Zambia that provide property insurance