Your house is likely the single most valuable thing you own. Whether it is a two‑bedroom self‑contained house, a compound house with tenants, or a small building you rent out for extra income, losing it to fire, flood, or storm would be devastating. Yet many Ghanaian house owners have no protection at all. That is why Oxbridge Insurance Brokers Ltd offers the House Owners Policy: a simple, low‑cost policy that covers the structure of your building—not just the contents. Premiums start from just GHS 150 per year.
What Is a House Owners Policy?
A House Owners Policy is different from a Householders Comprehensive Policy. The Householders policy covers both building and contents (your furniture, electronics, etc.). The House Owners Policy covers only the physical building structure—walls, roof, doors, windows, fixed plumbing, electrical wiring, and permanent fixtures.
This policy is ideal for:
-
Landlords who rent out property (tenants insure their own contents)
-
Homeowners who want affordable building cover without paying for contents
-
People with a separate contents policy (or few valuable belongings)
-
Low‑income earners who want to protect their biggest asset first
At Oxbridge Insurance Brokers Ltd, we designed this policy for Ghanaian house owners who need serious protection on a small budget.
Why Every Ghanaian House Owner Needs This Policy
| Your Situation | Risk | Without Cover | With House Owners Policy |
|---|---|---|---|
| You live in your own house | Fire from faulty wiring | Lose GHS 50,000–200,000 building | Receive rebuild cost up to sum insured |
| You rent out rooms to tenants | Tenant accidentally starts fire | You pay for repairs yourself | Insurance pays |
| Your area floods every 2–3 years | Storm or flood damage | Pay GHS 5,000–20,000 for repairs | Claim covers repair costs |
| Burglars break in and damage doors/windows | Forced entry damage | Pay GHS 500–2,000 for new doors/locks | Damage to building structure covered |
| Neighbour’s tree falls on your roof | Impact damage | Pay GHS 3,000–10,000 for roof replacement | Covered as “impact by falling object” |
For as little as GHS 150 per year (about GHS 12.50 per month), you protect a building worth GHS 20,000–50,000. That is less than the cost of one bag of cement per month.
What Does a House Owners Policy Cover? (Perils Included)
The standard House Owners Policy covers the following events (called “perils”) that damage your building:
| Peril | Example |
|---|---|
| Fire | Electrical short circuit, cooking fire, arson |
| Lightning | Direct strike damages roof or electrical system |
| Explosion | Gas cylinder explosion, boiler blast |
| Storm | Wind rips off roofing sheets |
| Flood | Heavy rain causes water to enter and weaken walls |
| Earthquake | Cracks in walls, foundation shift |
| Impact | Vehicle crashes into wall, falling tree, falling billboard |
| Riots & strikes | Damage during public disorder (optional on basic, included on most plans) |
| Malicious damage | Someone deliberately breaks windows or doors |
| Burglary damage | Forced entry damages locks, frames, grilles (pay for repair of structure, not stolen items) |
| Burst pipes or water tank | Water overflows and damages ceiling or walls |
What Is NOT Covered (Exclusions – Read Carefully)
To keep premiums affordable for low‑level clients, we exclude certain things. At Oxbridge Insurance Brokers Ltd, we explain these openly.
| Situation | Covered? |
|---|---|
| Wear and tear (old roof leaking, cracked paint) | ❌ No – maintenance is owner’s responsibility |
| Termites, rats, or other pests | ❌ No |
| Gradual flooding (e.g., poor drainage over months) | ❌ No – only sudden and accidental flood |
| War, terrorism, or nuclear risks | ❌ No |
| Your own contents (TV, bed, fridge, phone) | ❌ No – that requires Householders or Contents policy |
| Tenants’ belongings (their furniture, electronics) | ❌ No – tenant needs their own contents policy |
| Landscaping, fences, gates (unless specified as add‑on) | ❌ No on basic policy |
| Buildings under construction | ❌ No – separate contractor’s policy required |
Quoted Examples for Low Level & SME Clients (Ghana Cedis)
Below are real, affordable House Owners Policy plans available through Oxbridge Insurance Brokers Ltd. Premiums are annual and depend on your building’s rebuilding value (not market price).
| Building Type | Estimated Rebuilding Value (GHS) | Annual Premium (GHS) | Best For |
|---|---|---|---|
| Single room (chamber and hall) | 15,000 – 25,000 | 150 – 250 | Low‑income earner, small house |
| Two‑bedroom self‑contained | 40,000 – 60,000 | 350 – 500 | Small family home |
| Three‑bedroom house | 80,000 – 120,000 | 650 – 900 | Middle‑income homeowner |
| Compound house (4–6 units) | 100,000 – 200,000 | 850 – 1,600 | Landlord with tenants |
| Small shop + living quarters | 30,000 – 50,000 | 280 – 420 | SME owner living on premises |
Example: A teacher in Tema has a two‑bedroom self‑contained house with rebuilding value GHS 50,000. He pays GHS 420 per year (about GHS 35 per month). One night, a storm rips off half his roof. Repair cost: GHS 6,000. Claim pays GHS 5,500 (after GHS 500 excess). He saved himself GHS 5,500 by paying GHS 420.
Optional Add‑Ons for Extra Protection (Low Cost)
You can add these coverages to your House Owners Policy for a small extra premium.
| Add‑On | What It Covers | Extra Premium (approx.) |
|---|---|---|
| Landlord’s contents | Items you keep in rented property (e.g., water heater, ceiling fans, curtains) | +20–30% |
| Rent loss | If fire makes house uninhabitable, policy pays lost rent for up to 12 months | +15–25% |
| Alternative accommodation | You live in the house; fire damages it – policy pays for hotel/rental for up to 6 months | +10–15% |
| Fences, gates, outbuildings | Protects external structures | +10–15% |
| Terrorism cover | Damage from bomb, attack | +5–10% |
Example with add‑on: Two‑bedroom house (GHS 50,000 rebuild value) + landlord’s contents (GHS 5,000) + rent loss (GHS 500 per month for 6 months). Total premium: GHS 420 (building) + GHS 100 (contents) + GHS 80 (rent loss) = GHS 600 per year.
How to Calculate Your Rebuilding Value (Not Market Price!)
Many people over‑insure or under‑insure because they use market price. Market price includes land value. For insurance, you need rebuilding cost – what it would cost to demolish and rebuild exactly the same building today.
| Building Type | Estimated Rebuilding Cost per Square Metre (GHS) – Ghana |
|---|---|
| Basic finish (floor, paint, simple roof) | 800 – 1,200 |
| Standard finish (tiles, ceiling, good windows) | 1,200 – 1,800 |
| High finish (marble, imported fittings) | 2,000 – 3,000 |
Simple formula: Measure floor area (length × width) × number of floors × cost per square metre.
Example: 2‑bedroom house – 70 square metres × 1 floor × GHS 1,500 = GHS 105,000 rebuilding value.
Penalty for underinsurance: If you insure GHS 50,000 but actual rebuilding is GHS 100,000, you are 50% underinsured. Any claim will be cut by 50%. Always insure correctly. Oxbridge Insurance Brokers Ltd will help you calculate for free.
How to Keep Your Premium Very Low (For Lower Level Clients)
| Tip | Saving |
|---|---|
| Choose a higher excess (the amount you pay first) | 10–20% lower premium |
| Exclude optional perils (e.g., remove flood cover if you are on high ground) | 5–10% lower |
| Insure only for rebuilding cost – not market value | Prevents overpayment |
| Install basic security (burglar bars, good locks, external light) | 5% discount |
| Pay annually instead of monthly | 5% discount |
| Excess Option | Effect on Premium (GHS 50,000 building) |
|---|---|
| GHS 200 excess | Standard price (e.g., GHS 450) |
| GHS 500 excess | Save ~15% (pay GHS 382) |
| GHS 1,000 excess | Save ~25% (pay GHS 337) |
Advice for low budget: Take GHS 500 or GHS 1,000 excess. You save on premium every year. Only pay the excess if you claim – which may be once in 10 years.
How to Claim After Damage to Your House (Simple Steps for Ghana Clients)
-
Make the area safe – Stop further damage (e.g., cover hole in roof with tarpaulin). Keep receipts for materials.
-
Take clear photos and videos – Show the damage from different angles.
-
Report to Oxbridge Insurance Brokers Ltd within 7 days – Call or WhatsApp us.
-
Get an estimate from a local builder – We can recommend someone if you do not know one.
-
Submit your claim form – We will help you complete it if needed.
-
Claim paid within 10–20 working days – Direct transfer to your bank or mobile money.
Real‑Life Scenario – Ghana House Owner Client
Madam Grace owns a three‑bedroom house in Cape Coast. Rebuilding value: GHS 90,000. Her annual premium: GHS 780 through Oxbridge Insurance Brokers Ltd.
During a heavy storm, a large branch from a neighbour’s tree fell onto her roof. Two roofing sheets were destroyed, and the ceiling in one bedroom collapsed. Repair cost: GHS 3,800.
Claim outcome:
Roof replacement: GHS 2,500 paid
Ceiling repair: GHS 1,300 paid
Total paid: GHS 3,800
Her excess: GHS 500
Net received: GHS 3,300
“I paid GHS 780 and received GHS 3,300. Without insurance, I would have borrowed from my children.” – Madam Grace, Cape Coast.
House Owners Policy vs. Householders Comprehensive Policy (Which One for You?)
| Feature | House Owners Policy (GHS 150–1,600/year) | Householders Comprehensive (GHS 500–3,000+/year) |
|---|---|---|
| Covers building structure | ✅ Yes | ✅ Yes |
| Covers contents (TV, bed, phone, furniture) | ❌ No (except add‑on) | ✅ Yes |
| Covers theft of items | ❌ No | ✅ Yes |
| Covers third‑party liability (visitor injury) | ❌ No (can add separately) | ✅ Yes |
| Premium cost | Lower | Higher |
| Best for … | Landlords, homeowners with few contents, low budget | Homeowners who want everything in one policy |
Our advice for low‑level clients: Start with House Owners Policy to protect your building – your biggest asset. Later, add a separate Burglary Policy (from GHS 120) or Personal Accident (from GHS 50) for other needs. That combination is often cheaper than a full Householders Comprehensive.
Why Oxbridge Insurance Brokers Ltd for Your House Owners Policy in Ghana?
-
We operate in Ghana – We know local building costs, weather patterns, and claim realities.
-
Lowest entry – GHS 150 per year – Affordable for teachers, traders, drivers, and small landlords.
-
Free rebuilding cost calculation – We help you avoid underinsurance without paying a surveyor.
-
Simple claim process – No lawyers, no endless forms.
-
Mobile money payments and payouts – No bank account required.
-
We speak Twi, Ewe, Ga, and English – Ask us in your language.
Final Word – Your House Is Your Legacy. Protect It.
You worked hard to build or buy your house. Do not let one fire, one storm, or one accident undo years of effort. For less than the cost of a few phone credit recharges per month, Oxbridge Insurance Brokers Ltd can protect your building with a House Owners Policy tailored to Ghanaian budgets.
Call us today for a free quote in Ghana Cedis. Get covered in under 15 minutes.
Oxbridge Insurance Brokers Ltd – Protecting Ghanaian homes, one house at a time.
