₦airaland Forum

Supermugu:
.... Your point

To educate.

They have come again. People must challenge this suspicious policy/law. It is capable of infringing the right to own property.

Call me to insure your property.

Insurance Broker- 08156348416- James.

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Nice one








I still sell affordable laptops.

Details on my signature

MondayOsunbor:
please one question


what are they insuring ?

what is this insurance or levy ?

They can only insure based on the value of the house. Let's even say 5% for example. So a house worth N30m, insurance will be 1.5m. For this same Lagos oh, imagine, which Landlord will pay that money on his own pocket without pushing the costs to the tenants indirectly by raising house rents? This same Lagos that ordinary dust bin Lawma money, or general things like cleaning the building, Landlords share the costs with tenants. Even the wealthy buildings on rent, they collect huge money for service charge

Openbusiness3:
how

....Atleast it will help to cover liabilities to certain levels and will also serve as a form of protection to home or house owners and even to the occupants depending on the policies one choose.

I CAN'T BREATHE, the LASG should remove their leg from my neck please. I can't be living near the Atlantic Ocean and still be looking for fresh air to breathe.

JONNYSPUTE:
....Atleast it will help to cover liabilities to certain levels and will also serve as a form of protection to home or house owners and even to the occupants depending on the policies one choose.

At whose expense? WHO BEARS THE COST?

Good call.
This will open up more market and business for the private sector; to those in the insurance industry.

It's not like the government is asking people to pay money to its coffers.
The only issue could be if government starts mandating people to patronise specific insurance companies.... Then we will know that they are set out to rip the masses again

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Openbusiness3:
At whose expense? WHO BEARS THE COST?

.....Ordinarily,the landlords are supposed to bear it but the problem is that after doing so,they will transfer the whole expenses to the Tennants by indirectly increasing the rents.

But if it is a country where things work,then no problems.
I do understand your worries though and I agree with you.

Openbusiness3:
At whose expense? WHO BEARS THE COST?

The people who stands to get insurance claim cheque when disaster happens

techmo:




Lagos State centre of excellence


God bless His Excellency Bola Ahmed Tinubu


.God bless His Excellency Babatunde Fashola SAN


God bless His Excellency Akinwunmi Ambode

Truly Lagos no be Edo, and can never be Edo

PS: to the dunce who don't get this, multi storey building are prone to collapse these days with ungrateful tenant dunce getting to lose life and properties without compensation, or mere payment of hospital bills, with this new policy every house is insured, insurance company would check the building for defects before undersigning any insurance cover

Lagos is not collecting any Kobo from you to insure your house, insure it anywhere you like just have it insured against disasters

.

Mumu who finally pays for the insurance..? Landlord or tenant..?

They should b serious about material and quality inspection of construction project sites and not put more misery on the already poor masses

Simplyleo:
Tinubu don come again.

He knows 98% of the best houses in Lagos belong to us. He has arranged with Buhari so he bring us down.

But whether he likes it or not, we will remain the most successful people all over the world.

Tinubu alone cannot bring down the global best people. Even Donald Trump tried, he couldn't achieve anything.

Your sarcasm is a folly

bigpicture001:
Mumu who finally pays for the insurance..? Landlord or tenant..?

They should b serious about material and quality inspection of construction project sites and not put more misery on the already poor masses

A dunce doesn't know he pays non refundable damages fee to his landlord which the landlord should ordinarily pay insurance company

techmo:
A dunce doesn't know he pays non refundable damages fee to his landlord which the landlord should ordinarily pay insurance company

Welcome to Lagos!.. JJC

JONNYSPUTE:
.....Ordinarily,the landlords are supposed to bear it but the problem is that after doing so,they will transfer the whole expenses to the Tennants by indirectly increasing the rents.

But if it is a country where things work,then no problems.
I do understand your worries though and I agree with you.

Since COVID enter Nigeria, there has been a steady inflation across the board. Food prices have increased. Garri I used to buy 1 paint for N500, now they are selling 1000. Transport has increased. General commodities, even services have been going up in private sector. Every now and then alert for stamp duty, VAT is there. Government too, are inflating and going to inflate MORE after the EDO and ONDO elections. They are just waiting so that the people won't get too frustrated and come out enmasse to vote them out and APC loose those states. Now, the critical question is HOW MANY COMPANIES HAVE INCREASE THE SALARIES OF THEIR WORKERS? HOW MANY LOW CLASS EARNERS GOT PALLIATIVE FROM GOVT. Yet you want to introduce policies that will only further squeeze the masses and impoverish them, then act surprised why many youths are turning into crimes and yahoo yahoo. I have never seen where govt is actively and persistently always creating policies that are heartless

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techmo:
The people who stands to get insurance claim cheque when disaster happens

the insurance is for the building and to be done by the owner of the building, so therefore, the claim is for the owner of the building. Or you want to tell me that they will do a inventory of all the personal properties and belongings of the tenants inside? Let's not be deceiving ourselves please. I'm not against insurance, my question is who bears the costs. Because that is how they create useless laws with loopholes that don't protect the masses. For example, My house 3 storey house is worth N100m, I have 8 tenants paying 2 million per year. Now, I must insure, insurance evaluates and slaps me a bill of N10m. I pay. Then I tell my 8 tenants. The new rent is 3.5m a year. Split the costs on their head. Pay up or pack out. They pay. One day fire occurs and destroys the BQ. I file claim with insurance and collect 3 million. Will the tenants that I increase rent on their head to cover the insurance money get part of that money? Did the law state that? Did the say that tenants can make a claim? NO!

how do you sell?

BilltheDON:
Ok

MANDIPUTIN:
To educate.

.. Teacher's Reward is in HEAVEN

Openbusiness3:
the insurance is for the building and to be done by the owner of the building, so therefore, the claim is for the owner of the building. Or you want to tell me that they will do a inventory of all the personal properties and belongings of the tenants inside? Let's not be deceiving ourselves please. I'm not against insurance, my question is who bears the costs. Because that is how they create useless laws with loopholes that don't protect the masses. For example, My house 3 storey house is worth N100m, I have 8 tenants paying 2 million per year. Now, I must insure, insurance evaluates and slaps me a bill of N10m. I pay. Then I tell my 8 tenants. The new rent is 3.5m a year. Split the costs on their head. Pay up or pack out. They pay. One day fire occurs and destroys the BQ. I file claim with insurance and collect 3 million. Will the tenants that I increase rent on their head to cover the insurance money get part of that money? Did the law state that? Did the say that tenants can make a claim? NO!

Insurance has lots of packages for a building, depending on what the owner wants it to cover

On a 1.5 million annual rent, you pay agent fee Atleast 200k , pay for agreement, and all Landlord charge something extra as non refundable damages fee, all this money you gain nothing back if you the house got destroyed before your rent expires, but with a comprehensive house insurance and other packages you also stand to gain

.

Laudable !
I sell Insurance pls ....
I work with Mutaul Benefits Assurance plc

pls link me up with anyone that will like to insure their properties ...

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techmo:
Insurance has lots of packages for a building, depending on what the owner wants it to cover

On a 1.5 million annual rent, you pay agent fee Atleast 200k , pay for agreement, and all Landlord charge something extra as non refundable damages fee, all this money you gain nothing back if you the house got destroyed before your rent expires, but with a comprehensive house insurance and other packages you also stand to gain

.

those charges are 1 time charges, not recurring and still due in part to govt inefficiency. But Insurance is recurring. When landlords will increase the rent because of the insurance, who bears the costs: is it the tenants, the govt or father Christmas? Tell me na, you're dodging the question since. And per insurance policy, is it not the person that does the insurance that can file a claim, and can benefit from the provisions of the insurance? Or you want to tell me that insurance claim is now transferable in this country? Do you want to tell me that a tenant will file a claim on the building owner's insurance and the insurance company will magically accept and approve the claim? It will thrown into the dustbin.

techmo:
Insurance has lots of packages for a building, depending on what the owner wants it to cover

On a 1.5 million annual rent, you pay agent fee Atleast 200k , pay for agreement, and all Landlord charge something extra as non refundable damages fee, all this money you gain nothing back if you the house got destroyed before your rent expires, but with a comprehensive house insurance and other packages you also stand to gain

.

You are right ..... in some cases , tenants insure their properties while Landlord didn't , if any unpleasant event happens , the tenants give refund while the landlords cry in silence

IN MY COMPANY

As a house owner , you pay 1% ( negotiable) of the total value as premium yearly on both FIRE AND SPECIAL PERIL ( flood, wind and other natural disaster)

You will be indemnified .


08133729507 for more info.

Mutaultope:
You are right ..... in some cases , telants insure their properties while Landlord didn't , if any unpleasant event happens , the telants give refund while the landlords cry in silence

Oga you can do personal insurance as a tenant and insure your properties or belongings or personal effects within the confines of your apartment, subject to the appraisal and evaluation of the insurance company before terms and provisions are given. But this is different, we are talking about the building itself. Can a tenant or tenants insure building on behalf of the building owner or landlord? Can an insurance company insure a property for you that you DO NOT own? No way! As part of their appraisal, they will demand proof of ownership documents and titles etc. So this building insurance is strictly a landlord or building owner affair. So my question still remains, who bears the costs of the insurance? For a landlord in Ikoyi or Lekki that charges 9m per annum, yet will still collect service charge and split it among the tenants, some service charge even reach as much as 2.5m ~ 3m. So you now magically believe that this same Landlord will pay the costs of the insurance and bear it alone? Then we are deceiving ourselves. They will increase house rents. That is the final bus stop. So the insurance costs will be hanged on the necks of tenants.