As you consider building your home in Ghana or buying a pre-built home you may be wondering if you need or even required to buy homeowner’s insurance in Ghana. The short answer is, No. Technically there is no law currently in Ghana that requires a residential home owner to have insurance. The Insurance Act, 2006 (Act 724) sections 183 and 184 requires that commercial buildings be insured during and after construction. Now, you may be thinking what happens in case of a natural disaster? The beauty of owning your home in Ghana and having it built, is that it can be built to resist certain natural disasters and/ or withstand it. The good news is that Ghana rarely if ever has hurricanes, earthquakes, volcano eruptions, or tornadoes.

Allowing you to build without the extra expense of insurance. Homeowner insurance is offered in Ghana, with the industry being in it’s infancy and very new to West Africa. There are several companies and insurance policies for you to choose from if you do your due diligence. If you decide to take a mortgage you will likely be required to purchase homeowners insurance to secure the bank’s investment in your home. The same is true if you go with a development company that requires you to obtain homeowners insurance to build your home. At BlackUnicorn properties we do not require our clients to have homeowner’s insurance in order to build with us. Learn more about our construction offerings by reaching out to us via call, email or whatsapp. 

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