By Mr. Salifu Abubakari
General Manager, Marketing and Business Development, Priority Insurance Company Ltd.
In recent years, Ghana has experienced a growing number of devastating events—from sudden floods in Accra to unexpected market fires in Kumasi. These incidents are no longer isolated or rare. They are a reminder that property risk in urban Ghana is real and increasing. Yet, very few homeowners, landlords, and small business owners are adequately protected. The time to take property insurance seriously is now.
Climate Change and Urban Risk: A Deadly Mix
The effects of climate change are already visible. Our cities were not built to withstand the intensity and frequency of rains we’re now experiencing. Combined with poor drainage and rapid urbanization, flooding has become a predictable annual disaster. Properties worth millions of cedis are lost, and recovery is often impossible for those without insurance.
Similarly, fires—whether electrical, accidental, or arson—continue to destroy homes, markets, and businesses across the country. Many victims are left to rely on donations or loans to rebuild. This cycle of vulnerability is preventable with the right insurance.
The Power of Property Insurance
Property insurance offers protection for your home, personal belongings, business premises, and even stock. Depending on the policy, it can cover losses from:
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Fire outbreaks
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Floods and storm damage
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Burglary and theft
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Structural collapse
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Earthquake or natural disasters
But insurance isn’t just about compensation—it’s about resilience. It ensures that your life or business doesn’t come to a standstill after a loss.
Real Stories. Real Support.
I have personally encountered countless cases that reaffirm the power of insurance. One that stands out is a small provision store owner in Kasoa whose shop was gutted by fire due to a nearby illegal connection. She had just recently been introduced to a basic fire and burglary insurance package. Her entire shop was rebuilt through her policy claim within 21 working days—and her stock replenished.
There was another case in Adabraka where a landlord was able to completely renovate a section of his property that was affected by flash floods, thanks to his building insurance cover. Without it, his tenants would have had to relocate, and he would have lost rental income for months.
Choose Insurance That Matches Your Risk
It’s not enough to just buy property insurance—you need the right cover. Here’s what I often advise:
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For homeowners: Consider a comprehensive building and contents policy that protects both the structure and your personal belongings.
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For landlords: Secure your rental investment with building and liability insurance.
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For shop and business owners: Choose a policy that combines fire, burglary, and business interruption coverage.
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For tenants: Yes, you can insure your personal property inside a rented apartment too.
At Priority Insurance, we guide clients through a simple risk assessment for Free to ensure that what matters most to them is well protected. We also educate them for free on how to file claims, renew policies on time, and avoid under-insurance, which is a common problem in our market.
Insurance is Peace of Mind
What property insurance really buys you is peace of mind. You can sleep well knowing that if disaster strikes, you won’t be starting from scratch. You will have a financial cushion to rebuild—swiftly and with dignity.
As someone leading marketing and business development in the insurance industry, I feel a deep responsibility to demystify insurance for the average Ghanaian. Protection should not be a privilege; it should be a plan.
Let us all take a step forward by learning about our risks, asking the right questions, and taking out policies that reflect the value we place on our homes and businesses. The rains may come, the fires may break out—but with insurance, recovery is always within reach.
Mr. Salifu Abubakari is the General Manager for Marketing and Business Development at Priority Insurance Company Ltd. He is passionate about insurance education and driving inclusive access to financial protection for all Ghanaians.
Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of The Accra Daily Mail, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
