There are several reputable insurance companies in Ghana that offer different types of insurance policies, be it travel, car, health, and even funeral insurance. Some of these companies are Allianz, Hollard, Enterprise and Activa.
Before we go any further, let’s clear up what insurance is.
What is Insurance?
Insurance is a type of risk management tool that helps people to control the financial risks associated with different life events.
There are two main types of insurance: life and non-life. Non-life insurance is typically for property, personal injury, or liability while life insurance protects one’s family in the event of death.
Types of Insurance Services Offered in Ghana
Insurance companies offer different types of insurance services in Ghana such as life insurance, auto and home insurance, car insurance, and home insurance.
In general, the most common types of life insurance are term life and whole life. Term life is used when a person needs to cover a specific amount of time such as 20 years or 30 years. Whole life is used when a person needs to cover their entire lifetime.
Auto and home insurance are also popular among Ghanaians because they provide peace of mind for people who do not want to worry about an accident or theft at their property while away.
Insurance Companies in Ghana
The insurance industry is one of the most competitive industries in the world. With so many companies vying for your attention and business, it is difficult to find the best insurance company.
In Ghana, there are many home and car insurers that offer a variety of products and services. Below is a compilation of all the approved insurance companies by the National Insurance Commission to ensure you’re working with not only trustworthy companies, but insurance companies in good standing with the NIC.
Click here to satisfy your curiosity about how insurance companies started in Ghana.
Life Insurance
- Allianz Life Insurance
- Beige Assure
- Donewell Life Company
- Enterprise Life Assurance
- Esich Life Assurance
- Exceed Life Assurance
- First Insurance
- Ghana Life Insurance
- Glico Life Insurance
- GN Life Assurance
- Hollard Life Assurance
- Metropolitan Life Insurance
- MiLife Company
- Old Mutual Life Assurance
- Phoenix Life Assurance
- Prudential Life Insurance
- Quality Life Assurance
- Saham Life Insurance
- SIC Life
- Starlife Assurance
- Vanguard Life Assurance
Non-Life Insurance
- Activa International Insurance
- Allianz Insurance
- Bedrock Insurance
- Best Assurance
- Coronation Insurance
- Donewell Insurance
- Enterprise Insurance
- Ghana Union Assurance
- Glico General Insurance
- Heritage Energy Insurance
- Hollard Insurance
- Imperial General Assurance
- Loyalty Insurance
- Millenium Insurance
- Multi Insurance
- NSIA Insurance
- Phoenix Insurance
- Prime Insurance
- Priority Insurance
- Provident Insurance
- Quality Insurance
- Regency Nem Insurance
- Saham Insurance
- Serene Insurance
- SIC Insurance
- Star Assurance
- Sunu Assurances
- Unique Insurance
- Vanguard Assurance
Conclusion – The 4 Factors to Consider When Choosing the Right Insurance Company for You
Choosing the right insurance company is an important decision. You want to find a company that will offer you the best price, coverage, and service.
Finding the right insurance company for you can be a daunting task because there are so many options out there. When choosing an insurance company, there are four factors that you should consider:
1. The type of insurance you need
Be clear on what you need. You don’t want to sign up for something that’s not beneficial to you. What’s the point buying a car insurance policy if you still take trotros? 👀
2. The cost of the plan
Insurance is a great buffer for future emergencies. But there’s only so much you can afford now in preparation for tomorrow. You should check your compare your current economic standing before
3. The customer service
These guys are gonna be handling your money, your guarantees for a long time. It will suck if they’re rude, disrespectful and have horrible customer service when you need them to empathise with you. You’ve most likely heard the horror stories about claiming pension settlements and insurance claims, especially from state institutions like SSNIT. Be mindful when choosing.
4. Company reputation
This needs no explaining. You don’t want to work with any shady businesses. We’ve all seen the impact of the financial sector clean-up recently. People are still counting their losses and you do not want to experience the same thing with the insurance industry.
