Property insurance is a vital tool for protecting your home, business, or investment assets from risks such as fire, theft, vandalism, and natural disasters like floods. In Kenya, where property loss due to flooding, fires, and other perils is a growing concern, choosing a reliable insurer is crucial for financial security and peace of mind. With 58 licensed insurance companies regulated by the Insurance Regulatory Authority (IRA), the market offers a range of options, from comprehensive domestic packages to tailored commercial property policies. This guide ranks the top 10 best property insurance companies in Kenya for June 2025, based on market share, financial stability, customer satisfaction, claims efficiency, and innovation.
Why Property Insurance is Essential in Kenya
Property insurance safeguards your financial investment in homes, businesses, or rental properties by covering repair costs, replacement, or financial losses due to unforeseen events. In Kenya, where natural disasters like floods and human-related risks like theft are prevalent, property insurance offers:
- Financial Protection: Covers damages from fire, theft, vandalism, and natural disasters.
- Peace of Mind: Ensures you can recover without financial strain.
- Legal Compliance: Mandatory for certain commercial properties and mortgages.
- Asset Preservation: Protects valuable assets like rental properties or business premises.
With Kenya’s insurance penetration at 2.4% (IRA 2023), awareness is growing, driven by digital platforms and regulatory reforms. This guide helps you navigate the market to find the best property insurance companies in Kenya for 2025.
How We Ranked the Top 10 Property Insurance Companies
Our rankings are based on a thorough evaluation of:
- Market Share: Reflects consumer trust and industry dominance (IRA 2023/2024 reports).
- Financial Stability: Ensures claim payouts (NSE performance, AM Best ratings).
- Claims Efficiency: High claim settlement ratios (Amssurity, AKI reports).
- Customer Satisfaction: Retention rates and reviews from platforms like Step by Step Insurance and Bowman.
- Product Diversity: Range of policies (residential, commercial, microinsurance).
- Innovation: Adoption of digital tools and tailored products like climate-risk coverage.
Data sources include IRA Annual Reports, Cytonn Investments, Amssurity, Step by Step Insurance, and customer feedback from trusted platforms.
Top 10 Best Property Insurance Companies in Kenya for June 2025
1. Jubilee Insurance
Overview: Founded in 1937, Jubilee Insurance is Kenya’s largest composite insurer, commanding a 9.8% market share in general insurance (Cytonn 2019). Its domestic package offers comprehensive coverage for homes and businesses.
Why It Stands Out:
- Market Leadership: 11.9% market share in general insurance (IRA 2014).
- Comprehensive Coverage: Includes fire, theft, vandalism, and flood damage.
- Claims Efficiency: 81% non-liability claims settlement ratio, well above the industry’s 66% (Amssurity).
- Digital Tools: JForce app simplifies policy management and claims.
- Customer Feedback: “Jubilee’s quick claims process saved my business after a fire.”
Key Products:
- Domestic Package (fire, theft, flood)
- Commercial Property Insurance
- Landlord Insurance
Best For: Homeowners and businesses seeking reliable, comprehensive coverage.
2. Britam Insurance
Overview: Britam, a diversified financial services group, is a leader in property insurance in Kenya, offering tailored solutions for residential and commercial properties.
Why It Stands Out:
- Microinsurance Innovation: Partners with Habitat for Humanity to cover over 69,000 low-income properties (Step by Step Insurance).
- Financial Strength: Strong NSE performance and A-rated by AM Best.
- Customer Education: Emphasizes clear policy explanations.
- Digital Platforms: Britam Connect app for seamless claims and renewals.
Key Products:
- Home Insurance (fire, theft, natural disasters)
- Commercial Property Insurance
- Microinsurance for Low-Income Households
Best For: Low-income homeowners and businesses seeking flexible plans.
3. CIC Insurance Group
Overview: CIC, a cooperative insurer since 1968, is renowned for its home insurance in Kenya, particularly for SMEs and cooperative members. It holds a 7.1% market share.
Why It Stands Out:
- Affordability: Competitive premiums for domestic packages.
- Claims Efficiency: Above-average settlement ratios (AKI 2023).
- Customer Trust: “CIC’s home insurance covered my flood damage promptly.”
- Specialized Products: Covers third-party liabilities and domestic employees.
Key Products:
- Domestic Package (fire, theft, flood)
- Property Insurance for SMEs
- Agricultural Property Coverage
Best For: SMEs and homeowners seeking cost-effective coverage.
4. Heritage Insurance
Overview: Heritage Insurance is a top provider of general insurance, known for affordable premiums and comprehensive property coverage for homes and businesses.
Why It Stands Out:
- Financial Stability: A- (AM Best), A- (S&P) ratings (Urban Kenyans).
- Product Range: Covers fire, theft, vandalism, and marine assets.
- Customer Service: High satisfaction for personalized support.
- Digital Expansion: Enhanced online platforms in 2025 (Step by Step Insurance).
Key Products:
- Home Insurance
- Commercial Property Insurance
- Marine Property Coverage
Best For: Homeowners and maritime businesses.
5. APA Insurance
Overview: APA, under Apollo Investments, offers robust property insurance despite recent service complaints. Its domestic package covers fire, theft, and natural disasters.
Why It Stands Out:
- Market Share: 8.3% in general insurance (Cytonn 2019).
- Product Diversity: Includes microinsurance and corporate property plans.
- Financial Backing: A (AM Best), A3 (Moody’s) ratings (Urban Kenyans).
- Customer-Centric: Strong agency network for claims support.
Key Products:
- Domestic Package
- Commercial Property Insurance
- Microinsurance for Property
Best For: Budget-conscious clients and businesses.
6. ICEA Lion
Overview: ICEA Lion, with origins in 1895, provides comprehensive property insurance with a focus on customer satisfaction and innovation.
Why It Stands Out:
- Innovation: Digital platforms for policy management (Step by Step Insurance).
- Product Range: Covers residential, commercial, and investment properties.
- Claims Support: High settlement ratios and dedicated support (AKI 2023).
- Regional Presence: Operates in Kenya, Uganda, and Tanzania.
Key Products:
- Home Insurance
- Commercial Property Insurance
- Investment Property Coverage
Best For: Families and investors seeking versatile policies.
7. Sanlam Kenya
Overview: Part of the global Sanlam Group, Sanlam offers personalized property insurance with a focus on transparency and digital solutions.
Why It Stands Out:
- Transparency: Clear pricing and ethical practices (Dawit Insurance).
- Financial Recovery: Strong share value growth in Q1 2025 (NSE).
- Digital Innovation: Embedded insurance solutions for accessibility.
- Customer Trust: High ratings for reliability.
Key Products:
- Home Insurance
- Commercial Property Insurance
- Rental Property Coverage
Best For: Individuals and businesses prioritizing transparency.
8. AIG Kenya
Overview: AIG combines global expertise with local knowledge, offering tailored property insurance for residential and commercial clients.
Why It Stands Out:
- Risk Management: Provides assessments to minimize losses (Step by Step Insurance).
- Flexible Policies: Customizable coverage for specific needs.
- Financial Strength: Backed by global AIG network.
- Customer Feedback: “AIG’s risk advice helped protect my business property.”
Key Products:
- Residential Property Insurance
- Commercial Property Insurance
- Risk Management Services
Best For: Businesses seeking tailored risk solutions.
9. First Assurance
Overview: A subsidiary of Absa Group, First Assurance offers property insurance alongside medical and travel products, focusing on customer-centric solutions.
Why It Stands Out:
- Comprehensive Coverage: Includes fire, theft, and natural disasters (Financial News Kenya).
- Customer Service: Strong support through Absa’s network.
- Financial Stability: Backed by Absa’s regional presence.
- Accessibility: Wide branch network across Kenya.
Key Products:
- Home Insurance
- Commercial Property Insurance
- Domestic Package
Best For: Homeowners seeking reliable, accessible coverage.
10. GA Insurance
Overview: GA Insurance, part of I&M Bank Group since 2006, offers property insurance with a focus on niche products like coverage for electric vehicles and rental properties.
Why It Stands Out:
- Niche Offerings: Covers unique risks like eco-friendly properties (KenyaInvest).
- Financial Backing: Strong stability via I&M Bank.
- Claims Efficiency: Responsive support, per customer reviews.
- Regional Expansion: Operates in Tanzania and Uganda.
Key Products:
- Domestic Package
- Commercial Property Insurance
- Rental Property Coverage
Best For: Eco-conscious property owners and landlords.
Types of Property Insurance Policies in Kenya
Kenya’s property insurance market offers various policies to suit different needs:
- Domestic Package: Covers homes against fire, theft, vandalism, and natural disasters. Average cost: KES 10,000–30,000/year for KES 5M coverage.
- Commercial Property Insurance: Protects business premises, equipment, and inventory. Includes business interruption coverage.
- Landlord Insurance: Covers rental properties against tenant damage, fire, and loss of rent.
- Microinsurance: Affordable plans for low-income households, covering basic perils like fire and theft.
- Marine Property Insurance: Protects assets like warehouses or cargo against transit-related risks.
Emerging Trends in Kenya’s Property Insurance Industry for 2025
The property insurance sector is evolving rapidly, driven by technology and consumer needs:
- Digital Platforms: Britam Connect, Jubilee’s JForce, and ICEA Lion’s apps streamline policy purchases and claims.
- Microinsurance: Britam’s partnership with Habitat for Humanity targets low-income households (Step by Step Insurance).
- Climate-Risk Products: CIC and GA offer coverage for floods and crop damage, reflecting sustainability trends.
- Personalized Policies: AIG and Sanlam provide tailored coverage for specific risks.
- Regulatory Reforms: IFRS-17 compliance enhances transparency and solvency (Dawit Insurance).
How to Choose the Best Property Insurance Company in Kenya
Follow these steps to select the right provider:
- Assess Your Needs: Determine coverage for homes, businesses, or rental properties.
- Compare Quotes: Use platforms like Pesabazaar or Step by Step Insurance for competitive rates.
- Check Financial Stability: Verify IRA licensing and AM Best ratings (A- or higher recommended).
- Review Claims Ratios: Higher ratios (e.g., Jubilee’s 81%) indicate reliability (Amssurity).
- Read Customer Reviews: Check Amssurity or Bowman for real experiences.
- Consult an Advisor: Agencies like Dawit Insurance (0723-856-447) or Amssurity (+254-762-065-500) offer free consultations.
Challenges in Kenya’s Property Insurance Industry
Despite growth, the sector faces hurdles:
- Low Penetration: Only 2.4% of Kenyans are insured (IRA 2023).
- High Premiums: Comprehensive policies can be costly for SMEs.
- Fraud: False claims increase operational costs, affecting premiums.
- Flood Exclusions: Standard policies often exclude flood damage, requiring add-ons.
- Consumer Awareness: Misconceptions about insurance as a luxury persist.
Tips to Maximize Your Property Insurance Coverage
- Understand Exclusions: Clarify coverage for floods or earthquakes with your insurer.
- Install Safety Measures: Fire alarms and security systems lower premiums.
- Bundle Policies: Combine property with motor or health insurance for discounts.
- Review Annually: Update coverage for renovations or new assets.
- Use Digital Tools: Apps from Britam or Jubilee simplify claims and renewals.
Property insurance is essential for safeguarding your home, business, or investment assets in Kenya’s dynamic risk landscape. The top 10 best property insurance companies in Kenya for June 2025—Jubilee, Britam, CIC, Heritage, APA, ICEA Lion, Sanlam, AIG, First Assurance, and GA—offer reliable, innovative, and customer-centric solutions. Whether you need affordable home insurance in Kenya, commercial coverage, or microinsurance, these providers deliver tailored options.
