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With the rising incidence of fire outbreaks, burglary and home break-ins across Nigeria, insurance experts say business owners and homeowners can no longer afford to ignore asset protection. Mutual Benefits Assurance Plc says its Fire, Burglary and Home Breaking Insurance has become critical in helping individuals and businesses recover from unexpected losses.
Recent data from the National Bureau of Statistics (NBS) shows that over four million households, representing 4.8 per cent of Nigerian households, experienced home robberies between May 2023 and April 2024, a sharp increase that highlights Nigeria’s growing security challenges.
Further statistics from Opendataforafrica.org indicate that the reported burglary rate per 100,000 population rose from 1.2 in 2012 to 1.5 in 2013. While those figures were concerning, the latest NBS data reflects a 100 per cent increase compared to the 1.2 per cent and 1.3 per cent recorded in 2012 and 2013, reinforcing the urgency for adequate insurance coverage.
Against this backdrop, Mutual Benefits Assurance reaffirmed its commitment to providing insurance solutions that go beyond financial compensation to deliver security and peace of mind.
“At Mutual Benefits, we are committed to providing insurance solutions that not only offer financial protection but also help secure homes, businesses and livelihoods,” the company stated.
For many policyholders, the importance of Fire, Burglary and Home Breaking Insurance becomes evident only after disaster strikes.
One such beneficiary is Mrs. Esther Okoh, a young entrepreneur with a thriving hair business in Asaba, whose shop was burgled.
“Mutual Benefits have come through for me in ways I cannot explain. With the swift processing of my claim after my hair shop was burgled, I would have lost millions of naira and sunk into depression,” she said.
Another customer and business owner, Mr. Ikechukwu Edeh, the Managing Director of Blessed Iyke Global Electronic Nig. Ltd, also shared a harrowing experience that reinforced the value of insurance.
According to Ikechukwu, on July 20, 2025, he received a call from a neighbour informing him that his shop was on fire. By the time he arrived at the location, the shop and all the goods inside had been completely burnt down.
“It was a devastating moment,” he recalled. “Everything I worked for was gone. But thank God I had a combined Fire and Burglary Insurance with Mutual Benefits Assurance.”
He explained that contacting his account officer immediately after the incident brought him unexpected calm.
“I called my account officer, and he told me to calm down. The claims process started immediately, and today, I am happy,” Ikechukwu said.
WHY FIRE AND BURGLARY INSURANCE IS ESSENTIAL
Insurance analysts note that Fire, Burglary and Home Breaking Insurance plays a vital role in restoring stability after unforeseen events. The policy helps in the restoration of financial losses, enabling individuals and businesses to recover from damages or disruptions.
It also supports business continuity, allowing operations to resume without prolonged setbacks while preserving productivity and customer confidence. In addition, the policy covers the repair or replacement of damaged property, ensuring that affected premises can be reoccupied swiftly and safely.
For business owners like Mrs. Esther Okoh, Mr. Ikechukwu Edeh, and many others on the Fire, Burglary and Home Breaking Insurance policy, Mutual Benefits Assurance Plc is not just an insurer but a dependable partner that guarantees peace of mind.
For more information on Fire, Burglary and Home Breaking Insurance, visit www.mutualng.com
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