Leadway Assurance Introduces Low Cost Householder Insurance Starting At 10,000 Naira To Shield Nigerian Homes

Leadway Assurance unveils a Householder Insurance plan starting at 10,000 Naira, covering fire, theft, and public liability for tenants and landlords.

By: AXL Media

Published: Apr 22, 2026, 4:31 AM EDT

Source: Information for this report was sourced from The Nation Newspaper

Broadening Access To Residential Property Protection

Leadway Assurance Company Limited has moved to increase insurance penetration in Nigeria by introducing a budget-friendly Householder Insurance plan. With an entry cost set at 10,000 Naira per year, the firm aims to make comprehensive home protection accessible to a wider demographic of Nigerian families. According to the company, the policy provides a financial safety net for residential buildings and their contents, addressing prevalent urban risks such as fire outbreaks, theft, and burglary.

Holistic Coverage For Tenants And Landlords

The offering is structured to accommodate the needs of both property owners and renters. Kikelomo Fischer, Executive Director of Retail and Partnership, explained that while tenants can utilize the plan to secure their personal belongings, landlords can use it to cover building structures. Furthermore, the plan includes a provision for alternative accommodation compensation, which supports policyholders if their primary residence becomes uninhabitable due to an insured peril. This holistic approach ensures that the immediate living needs of the family are met following a crisis.

Extensions For High Value Personal Assets

While the standard policy covers general household contents, Leadway has noted that high-value electronics and luxury items require specific consideration. Fischer highlighted that mobile phones, laptops, and jewellery are not automatically included in the base package. However, customers have the option to include an "all-risk" extension for an additional premium. This customization allows individuals with significant investments in portable technology or valuables to extend their protection beyond the physical boundaries of the home.