FAQs and Knowledge Hub
FAQs
Have questions? Check if we have already answered it below.
An insurance brokerage company serves as an intermediary between individuals and insurance providers. Unlike insurance companies, which sell their own policies, we work with multiple insurance companies to help clients find the most suitable coverage at the best price.
Selecting an insurance broker provides several advantages. We offer a wide array of insurance options from various providers, ensuring you have choices to meet your specific needs. Additionally, we provide expert advice and personalized service to help you navigate the complex world of insurance.
We specialize in offering various types of insurance, including life insurance to protect your loved ones, health insurance to cover medical expenses, auto insurance for your vehicles, property insurance for your home or business, and many more. Our goal is to provide comprehensive coverage tailored to your unique requirements.
Obtaining an insurance quote is simple. Just reach out to our team with some basic information about your needs, and we’ll collect the necessary details to provide you with a personalized quote. Our experts are here to guide you through the process.
Yes, we maintain partnerships with several reputable insurance companies. This collaboration allows us to offer you a diverse range of insurance options and ensures that you can find the coverage that best fits your circumstances and budget.
The cost of insurance premiums can be affected by various factors, including your age, the level of coverage you select, your driving history (for auto insurance), and other personal details. We will work with you to understand these factors and find affordable coverage options.
Absolutely, our specialty is tailoring insurance plans to align with your unique requirements. Whether you have specific coverage needs or preferences, we are here to ensure that your insurance plan suits you perfectly.
Filing a claim is a straightforward process. You can contact us, and our experienced team will assist you in initiating the claim with the insurance provider. We will continue to support you throughout the claims process, acting as your advocate to ensure a smooth resolution.
Our services do not cost the policyholder anything extra. We are compensated through commissions paid by insurance companies. Rest assured that you won’t incur any additional charges for our expert guidance and assistance in finding and managing your insurance coverage. We believe in transparent and client-friendly fee structures.
You can easily reach out to us for assistance through various means. You can call us at +251115526033, send us an email at info@aib.com.et, or visit our office at Mesquel Square, CETU Building, 1st Floor. We’re available during our office hours to address your questions and concerns. Additionally, our website features online contact forms for your convenience.
An insurance broker assists you in filing and managing claims with the insurance company, acting as your advocate to ensure a smooth resolution.
The time required to process a claim varies depending on the complexity of the claim and the insurance company. We work to expedite the process while ensuring fair outcomes.
Yes, you can make changes to your policy mid-term. Contact us, and we will assist you in making the necessary adjustments to your coverage.
Yes, we specialize in providing insurance solutions for businesses and commercial properties, tailored to your industry and specific needs.
Missing a premium payment can result in a lapse in coverage. We advise clients on how to avoid this and work to reinstate policies when possible.
We offer strategies to help you manage premiums effectively, such as adjusting coverage levels and exploring available discounts.
A deductible is the amount you pay out of pocket before insurance coverage kicks in, while the premium is the regular payment you make for your insurance policy.
Contact us immediately if you encounter a dispute with your insurer. We can provide guidance and help resolve the issue through negotiation or mediation.
Yes, we have expertise in securing coverage for specialized and niche industries, ensuring that they receive tailored protection specific to their unique requirements.
It’s a good practice to review your insurance coverage annually or whenever you experience significant life changes, such as marriage, the birth of a child, or a major purchase. We can help you assess when updates are needed.
Policies Explained
Short Explanation of Different Policies for your Reference
Agriculture insurance is designed to protect farmers and agricultural businesses from financial losses related to farming operations. It can cover crop loss due to natural disasters, livestock, and farm equipment.
Auto insurance provides coverage for vehicles and drivers in case of accidents, theft, or damage. It typically includes liability coverage (for damage to others), collision coverage (for your vehicle), and comprehensive coverage (for non-collision incidents).
Bonds insurance, often referred to as surety bonds, guarantees the performance of a contract or the fulfilment of specific obligations. It ensures that one party is compensated if the other party fails to meet their contractual duties.
Business insurance encompasses various policies tailored to protect businesses from different risks. Common types include commercial property insurance, business liability insurance, and workers’ compensation insurance.
Engineering insurance provides coverage for construction projects and engineering works. It protects against losses resulting from construction defects, damage to equipment, and project delays.
Flood insurance provides coverage for damage caused by flooding, which is typically not included in standard homeowners’ insurance policies.
Health insurance covers medical expenses, including doctor visits, hospitalization, prescription drugs, and preventive care. It helps you manage healthcare costs and ensures you have access to necessary medical services.
Homeowners insurance protects your home and its contents from damage or loss due to events like fires, theft, or natural disasters. It also includes liability coverage for accidents that occur on your property.
Liability insurance protects individuals and businesses from legal claims and financial responsibilities arising from injuries or damage to others. It includes various forms, such as general liability, professional liability (errors and omissions insurance), and product liability insurance.
Life insurance provides financial protection for your loved ones in the event of your death. There are two primary types: term life insurance, which provides coverage for a specified term, and whole life insurance, which offers coverage for your entire life and often includes a cash value component.
Marine insurance covers the transportation of goods and cargo by sea, air, or land. It protects against loss or damage to cargo, vessels, and related liabilities during transit.
Pecuniary insurance typically refers to insurance policies that protect against financial losses. This can include various types of coverage, such as business interruption insurance and fidelity insurance.
Property insurance covers physical assets, including buildings, equipment, and inventory. It is essential for businesses to protect their property from various risks, such as fire, theft, or vandalism.
Renters insurance is similar to homeowners’ insurance but is designed for tenants. It covers personal belongings and provides liability coverage in case of accidents in a rented property.
Travel insurance covers unexpected events when traveling, including trip cancellations, medical emergencies abroad, lost luggage, and more.