In Ghana, where small and medium-sized enterprises (SMEs) are essential in promoting economic development and creating jobs, the dangers that small business owners encounter are considerable and constant. These include incidents like fires, floods, and theft, as well as unforeseen operational issues, all of which can lead to substantial financial losses. Business Protection Insurance offers a vital shield, enabling companies to bounce back swiftly and maintain their operations amid difficult circumstances.
It provides thorough protection to reduce losses and safeguard critical assets, serving as a crucial instrument for maintaining business operations. By collaborating with MTN MoMo, Coronation Insurance Ghana LTD. has enabled easy and hassle-free access to this important insurance, allowing small business owners to protect their income with just a few touches on their mobile devices.
The Concept of Business Insurance: What It Includes
Business Safeguard Insurance is created to provide financial support when a company faces a qualifying risk. Such incidents may involve fire, water damage, severe weather, and related dangers, as well as theft and personal injury to the business owner and staff. Business Protection Insurance usually includes:
- Stock or inventory insurance: covers companies such as retailers and manufacturers for losses caused by damaged or stolen merchandise, allowing them to replenish supplies and maintain business activities with minimal financial impact.
- If office items or equipment are harmed by fire, flooding, and related damage, or stolen, this product can assist in paying for repairs and replacements.
- Personal Accident Insurance: this plan provides extra benefits that cover death, total or temporary disability, and medical costs for the owner and your employees who get injured while on the job.
Thanks to these advantages, Business Protection Insurance offers a solid base to assist companies in coping with the financial effects of unexpected situations. For small businesses, this can make the distinction between remaining operational and having to shut down permanently following a significant crisis.
The significance of Business Insurance for small enterprises
Businesses need protection insurance, which is crucial for small enterprises, particularly in Ghana, where numerous owners lack additional savings to handle unexpected situations. In the event of unforeseen incidents such as floods, fires, or theft, this type of insurance assists in covering repair expenses and replacing damaged goods, enabling the business to bounce back swiftly.
It also assists business owners by covering medical costs if an employee is injured at work, and offers compensation in situations involving death or permanent or temporary disability. In simpler terms, it provides business owners with reassurance, allowing them to concentrate on expanding their business, confident that they will have assistance if issues arise.
How Coronation Insurance and MTN MoMo are making Business Protection Insurance available
For a long time, obtaining business insurance in Ghana involved extensive documentation, physical visits to insurance offices, and typically a complicated claims procedure. Understanding the demand for more straightforward options, Coronation Insurance Ghana LTD. has collaborated with MTN Mobile Money (MoMo) to offer Business Protection Insurance that is easy, secure, and available to small and medium enterprises throughout Ghana.
Business proprietors can enroll in Business Protection Insurance via their mobile devices using the MTN MOMO code *170#.
Practical example: How Business Insurance Coverage can safeguard your company
Picture running a retail store in Accra or Kaneshie Market. During the rainy season, your shop faces flooding, leading to major losses of inventory and equipment. In another situation, you have a shop in Makola or Kejetia Market, and a sudden fire destroys your merchandise.
If you don't have insurance, you would have to pay for replacing damaged items and fixing your shop yourself, which might amount to thousands of cedis. For many small businesses, this kind of cost could lead to shutting down. With Business Protection Insurance, the scenario would be completely different. Coronation Insurance Ghana LTD. will cover the damage as per the limits outlined in your policy.
How to register for Business Protection Insurance via MTN MoMo
If you're prepared to safeguard your small business with Business Protection Insurance, here's how you can register easily via MTN MoMo:
- Call the MTN MoMo Code: Just enter the specific USSD code (*170#) and proceed with the instructions to access insurance options.
- Choose Coronation Insurance: Search for the Business Protection Insurance product provided by Coronation Insurance.
- Select Your Protection: Choose a coverage plan that aligns with your business requirements and financial constraints. Coronation provides multiple choices, enabling you to customize the insurance according to your particular risks.
- Settle Your Premium: Utilize your MTN MoMo balance to settle the premium. After finishing the process, your coverage will be activated, and you will be fully protected.
- Experience Tranquility: Having your policy set up allows you to concentrate on expanding your business, confident that you are protected in case of any issues.
Conclusion
Each small business owner encounters obstacles on the path to achievement, yet with proper assistance, difficulties can become chances to build strength. Business Protection Insurance provides a crucial shield, enabling business owners to concentrate on expansion without the ongoing worry of unexpected crises.
By forming a strategic collaboration with MTN Mobile Money (MoMo), Insurance Ghana Ltd. has simplified and enhanced the accessibility of this protection. With just a few touches on a mobile device, entrepreneurs can obtain thorough coverage to protect their assets, business activities, and income—providing reassurance and lasting security.
For further information on enrolling in the Business Protection Plan through the MoMo platform, please reach out to us directly at 0302772606 / 0308249068 or email us at infoghana@coronationinsurance.com.ng.
Our team of specialists is on hand to provide you with the assistance you require.
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