In Ghana, where small and medium-sized enterprises (SMEs) play a critical role in driving economic growth and employment, the risks faced by small business owners are significant and ever-present. From fires, floods, and theft to unexpected operational disruptions, these challenges can cause major financial setbacks. Business Protection Insurance provides a crucial safety net, helping businesses recover quickly and continue operating despite adversity.
It offers comprehensive coverage to mitigate losses and protect vital assets, making it an essential tool for business continuity. Through a partnership with MTN MoMo, Coronation Insurance Ghana LTD. has made this vital insurance easily accessible and convenient, empowering small business owners to secure their livelihoods with just a few taps on their mobile phones.
Understanding Business Protection Insurance: What it covers
Business Protection Insurance is designed to offer financial assistance when a business experiences a covered peril. These events can include fire, flood, storm, and its associated perils, theft and personal accident to the business owner and employees. Business Protection Insurance typically covers:
- Stock or inventory: reimburses businesses like retailers and manufacturers for losses due to damaged or stolen goods, enabling them to restock and continue operations without major financial disruption.
- Office contents or equipment are damaged due to a fire, floods and associated damage, theft, this product can help cover repair and replacement costs.
- Personal Accident Coverage: this policy extends additional benefit to include death, permanent or temporal disablement, medical expenses cover to owner and your employees who are injured during work.
With these benefits, Business Protection Insurance provides a strong foundation to help businesses withstand the financial impact of unforeseen events. For small businesses, this can be the difference between staying afloat and closing down permanently after a major disaster.
The importance of Business Protection Insurance for small businesses
Business Protection Insurance is very important for small businesses, especially in Ghana where many do not have extra savings for emergencies. When unexpected events like floods, fires, or theft happen, this insurance helps cover the cost of repairs and replacing damaged items, so the business can recover quickly.
It also supports business owners by covering medical expenses if a worker is injured on the job, and provides compensation in cases of death and permanent or temporal disability. In simple terms, it gives business owners peace of mind and lets them focus on growing their business, knowing they have support if something goes wrong.
How Coronation Insurance and MTN MoMo make Business Protection Insurance accessible
Traditionally, getting business insurance in Ghana has required going through lengthy paperwork, in-person visits to insurance offices, and often a complex claims process. Recognizing the need for more accessible solutions, Coronation Insurance Ghana LTD. has partnered with MTN Mobile Money (MoMo) to make Business Protection Insurance convenient, safe and accessible for SMEs across Ghana.
With MTN MoMo, business owners can sign up for Business Protection Insurance directly from their phones using the MTN MOMO code *170#.
Real-world example: How Business Protection Insurance can save your business
Imagine you run a retail shop in Accra or Kaneshie Market. During the rainy season, your shop experiences flooding, causing significant damage to your stock and equipment. In another scenario, you own a shop in Makola or Kejetia Market and a sudden fire destroys your goods.
Without insurance, you would need to cover the cost of replacing damaged goods and repairing your shop out of pocket, which could add up to thousands of cedis. For many small businesses, such an expense could mean closing down. With a Business Protection Insurance, the situation would look very different, Coronation Insurance Ghana LTD. will pay for the damage with limit as stated on your policy.
How to sign up for Business Protection Insurance through MTN MoMo
If you’re ready to protect your small business with Business Protection Insurance, here’s how you can sign up conveniently through MTN MoMo:
- Dial the MTN MoMo Code: Simply dial the designated USSD code (*170#) and follow the prompts to navigate to insurance services.
- Select Coronation Insurance: Look for the Business Protection Insurance product offered by Coronation Insurance.
- Choose Your Coverage: Select a coverage plan that suits your business needs and budget. Coronation offers various options, allowing you to tailor the insurance to your specific risks.
- Pay Your Premium: Use your MTN MoMo balance to pay the premium. Once completed, your coverage is activated, and you’re officially protected.
- Enjoy Peace of Mind: With your policy in place, you can focus on growing your business, knowing that you have a safety net should anything go wrong.
Conclusion
Every small business owner faces a challenge on the road to success, but with the right support, setbacks can be turned into opportunities for resilience. Business Protection Insurance offers a vital safety net, allowing entrepreneurs to focus on growth without the constant fear of unforeseen disasters.
Through a strategic partnership with MTN Mobile Money (MoMo), Insurance Ghana Ltd. has made accessing this protection easier and more convenient than ever. With just a few taps on a mobile phone, small business owners can secure comprehensive coverage to safeguard their assets, operations, and livelihoods—ensuring peace of mind and long-term stability.
To learn more about signing up a for the Business Protection Plan via the MoMo platform, you may contact us directly on 0302772606 / 0308249068 or send an email to [email protected]
Our expert team is available to help you with any guidance you need.
