Business Products

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Motor Insurance

Get motor insurance that is flexible, as well as affordable

Motor Third Party

In terms of Ghanaian Law, the Motor Third Party Act 1958 stipulates that all vehicles must be covered for unlimited bodily injury and death compensation to third parties, such as fare paying passengers and pedestrians. Our Motor Third Party cover also offers you emergency treatment and provides personal accident cover for the insured or driver and occupants of the vehicle - so you know your employees will be taken care of. Damage to third party property is also covered.

Third Party Fire and Theft

This type of motor insurance provides cover for loss of or damage to your vehicles as a result of theft or fire, as well as third party liability.


Our most extensive type of motor insurance for your business, our comprehensive insurance provides protection to your vehicle/s against the following:

  • Accidental collision or overturning
  • Fire, external explosion, self-ignition or lightning
  • Theft, burglary, house-breaking and malicious acts
  • Floods, storms, earthquakes, riots, strikes and civil commotion while property is being carried by road, rail, inland waterway, lift or elevator
  • Third party property damage, injury and death for which the insured is legally liable


Security in the midst of uncertainty

Customs Bond

If you import or export goods to or from Ghana, you are legally required to pay customs duty immediately as the goods enter or leave the country. The Ghana Revenue Authority, acting on behalf of the Government of Ghana, will allow duty payments to be deferred if there is a guarantee in place from a reputable insurance company.

A Customs Bond from Provident is a guarantee against any loss of revenue arising from the failure, default or non-compliance by your company in terms of your obligations to Customs when it comes to export/import duties.

These are the types of customs bonds we offer:

  • Customs Agents House
    This bond is granted to Clearing Agents as a guarantee to Customs that should their misconduct result in loss of revenue to the state, the guarantor will pay Customs up to the value of the bond.
  • Temporary Importation
    Sometimes you may need to import goods into Ghana for a fixed period of time before re-exporting these goods to their final destination. Since all goods imported into the country need to be taxed, importers use this bond to guarantee that they will pay their taxes even if these goods are not re-exported.
  • Transit Bonds
    This is a guarantee given to transporters of imported goods destined for a neighbouring country where the transporter has not paid their custom duties. It covers them if the goods do not reach the stated destination, which can lead to loss of revenue for the state.
  • Warehousing/Security Bonds
    This bond is granted to importers whose goods are kept at a licensed bonded warehouse(s), pending payment of their import duties. If the importer defaults or fails to pay customs duties and taxes eligible on these goods at the bonded warehouse, the guarantor will pay Customs these lost duties.
  • Removal Bonds
    These are guarantees to Customs that should the goods being removed from a given warehouse(s) not reach their destination, and this leads to a loss of duty to the State, the guarantor will pay this amount to Customs.

Bid Bond

A written guaranty from a third party guarantor (usually an insurance company) submitted to a principal (client or customer) by a contractor (bidder) with a bid.

A bid bond ensures that on acceptance or winning of a bid by the customer or contractor they will proceed with the contract and will furnish the obligee with a performance bond. In the absence of this the guarantor will pay the customer the difference between the contractor's bid and the next highest bid.

Advance Mobilization

This guarantee is given out to contractors only when the principal wishes to advance an amount of money to the contractor to mobilize resources to work on the project.

The bond is an undertaking to the owner of the project to refund monies advanced to the contractor to mobilize resources to work on the project should the contractor after collecting the mobilization fund default in the performance of the project.

If however the contractor utilizes the money in the performance of the project successfully then the bond becomes void.

Performance Bond

A written guaranty from a third party guarantor (usually an insurance company) submitted to a principal (client or customer) by a contractor on winning the bid. A performance bond ensures payment of a sum (not exceeding a stated maximum) of money in case the contractor fails in the full performance of the contract. Performance bonds usually cover 100 percent of the contract price and replace the bid bonds on award of the contract.

Commercial/Industrial Fire Policy

Compulsory Commercial Fire Insurance

Assets All Risks

Your business assets play a vital role in the success of your operations. Our Assets All Risk insurance provides protection for business property that is accidentally physically lost, destroyed or damaged by anything other than the excluded causes listed below. This means that you are covered for almost every eventuality, which makes your coverage broader and easier to understand too.

Combined Fire and Burglary

As a small or medium sized business, you may face a range of risks when it comes to your assets and so you may be looking for wider coverage than our single insurance packages offer.

Our Combined Fire & Burglary insurance covers you for a wide range of business risks such as fire, allied perils and burglary all in one convenient umbrella package.

With this insurance, you will be financially compensated if your business is affected by fire, lightning, floods, impacts, explosions, earthquakes, windstorms, riots, strikes and civil commotion. You will also be covered for any loss of or damage to your insured property if someone was attempting to enter or exit your property during a burglary.

Business Interruption Insurance

Natural events such as floods, lightening or even fire can happen unexpectedly and negatively impact on your business operations. Your factory may have to be shut down after a blaze or some of your equipment may be faulty after being struck by lightening.

Our business interruption insurance will pay your business for income lost should your operations be interrupted by the events listed in our fire damage policy. These could be fire, lightning and allied perils such as floods, impacts, explosions, earthquakes, windstorms, riots, strikes and civil commotion.

Office Comprehensive Insurance

If you are a professional or consultant working from an office, this protects you against damage to your office furniture and utensils of trade as a result of fire and allied perils, theft and accidental breakage of glass. You can also get coverage for liability, loss of rent, out of pocket expenses, temporary removal, public liability, cash-in-safe and on the premises.

As part of this policy, you can also take out personal accident insurance for your employees.

Engineering/Project Insurance

Shield your business from all eventualities

Contractors' All Risk (CAR)

Our CAR policy offers comprehensive protection against loss or damage relating to the contract works, construction plant, equipment and machinery. It also covers third-party claims regarding property damage or bodily injury that have occurred because of a construction project.

Erection All Risks (EAR)

Our EAR policy offers protection against all the risks involved in the erection of machinery, plant and steel structures of any kind. It also covers any third-party claims linked to property damage or bodily injury that have arisen in connection with the execution of an erection project.

Contractor's Plant and Machinery

CPM insurance covers all plants or machinery that provide a service only when moving and under the control of an operator.

Machinery Breakdown Insurance

This policy provides insurance cover for plant, machinery and mechanical equipment at work, at rest or during maintenance operations. This policy is taken out annually and covers all types of machinery, plant, mechanical equipment and apparatus.

Electronic Equipment Insurance (EEI)

Electrical and electronic systems are expensive to replace but they are also a vital part of most businesses. Under the EEI policy, every hazard is covered even if it is not specifically excluded, meaning that almost any sudden and unforeseen losses that affect the electronic equipment or systems are also covered.

Our EEI insurance applies whether the insured items are in use or at rest. It also covers them if they are being dismantled for cleaning, overhauled or moved within the premises.

Employee Protection

Compensate your employees if they are unable to work

Group Personal Accident Insurance

Whether your business employs factory workers, builders, architects or drivers, the truth is that accidents can happen to your employees at any time. This policy provides compensation for your employees so that if they are involved in an unexpected accident they will receive the financial support and security they deserve. And if they pass away, their family will also be well supported.

Our personal accident insurance covers employees between the ages of 15 and 70 years who have sustained bodily injury caused by violent accidental external and visible means resulting in:

  • Death
  • Permanent Disability
  • Temporary Total Disability
  • Medical Expenses

Workers' Compensation

If your workers are injured while in the workplace, they may be unable to continue working and earning a living. They could also face extra medical bills they would be unable to pay, which can leave them struggling financially and in a very unpleasant personal position especially if they are the main family breadwinner.

In line with the Workmen's Compensation Act 1987 PNDC 187, our Workers Compensation insurance covers you for any amounts you're liable to pay employees who sustain injury by accident or disease as a result of their employment with you.

This policy will also reimburse the insured for any proven medical expenses relating to the injury

Operational Risk Protection

Project your business against adverse possibilities

Fidelity Guarantee

If you employ cashiers, bank clerks, accountants or a sales team within your business, they will be frequently exposed to things like cash and valuable business stock. For some, the temptation can be too great not to steal these assets or misuse them in a way that is against the law.

Should one of your employees commit theft, fraud or dishonesty towards your company, our Fidelity Guarantee insurance will protect you by compensating you for any direct financial losses that result from acts of dishonesty by your employees.

Goods in Transit

Does your business buy raw materials that are then converted into finished products? Or maybe it regularly transports goods to your end customers? Our Goods in Transit insurance will protect your business against the accidental loss of or damage to goods being transported by roads within Ghana, caused by any of these events:

Money Insurance

Holding cash in your business brings with it a host of risks, so it's best to be covered for unexpected or unwanted events. Provident's Money Insurance covers your business for loss, damage or destruction of money in-transit, cash in your safe/s, cash held on your premises (including hold ups), and/or in the residence of any of your employees.

You can also take out additional cover to protect your business against loss, destruction or damage to any safe, strong room or till caused by someone else during a theft or an attempted theft. You can also get cover for damage to clothing or personal effects sustained by you or your employees, by a person attempting to steal money from your business.

Liability Risk Protection

Protect your business against accidents or illness that happen to your employees as a result of your operations

Product Liability Policy

If you are a manufacturer producing products that you sell to customers or suppliers, there is a small chance that these could potentially harm the people who buy them and use them.

As an extension of our public liability insurance policy, our product liability insurance covers your business against legal damages as a result of bodily injury, illness or death to a person caused by any defect to a product you sell or supply. That means that even if you didn't intend for a product to cause harm, if it does and you are involved in legal action, your business will be financially covered.

Public Liability Policy

As a business, it's your duty to look after your employees and customers while they are on your premises. But accidents do happen are for example, you could run a manufacturing plant with dangerous machinery that could accidentally harm the people who operate them.

For these kinds of situations, public liability insurance covers you and/or your business against any accidental bodily injury or illness that happens on business premises, or if there is an accidental loss or damage to a third partys property on your premises.

This insurance covers your business whether the party involved passes away or not, and it also pays out for damages, legal costs and any other expenses that may be involved should there be a claim.

Directors and Officers Indemnity

As a director or officer of a company, you'll inevitably make decisions on a daily basis that can have huge effects and consequences on the people around you. But even the best managers make mistakes. What if you, as a director or officer, make a decision or take an action about the company that is seen as being a are wrongful acts “ even if you were acting in good faith? This could result in a claim made against you for which you'd be financially liable.

Directors and officers liability covers you financially for any claims made against you in this kind of situation. The policy pays for any costs related to the claim, such as court proceedings or financial losses that result from the event.

With this insurance, the following parties are covered:

  • The Directors/Officers
  • The company if it has contributed costs towards dealing with the matter
  • The estate, heirs, legal representatives or assigns of any deceased, incompetent or insolvent Director or Officer

Professional Indemnity

If you are a professional in a specialized field, such as a doctor, a lawyer or a psychiatrist, you offer advice on a daily basis as part of your work. But sometimes, the advice you give may have unintended negative consequences for a third party whether it's a client, a colleague, or a professional board of which you are a member.

If this is the case, you could face legal action against you. Even if you didnt intend any wrongdoing with your advice, you could still suffer financial losses or face legal costs if actions are brought against you.

With our professional indemnity insurance, you'll be covered for all costs and expenses relating to claims resulting from this kind of situation.

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