By Finnigan Wa Simbeye
PRIVATE home owners should seriously consider to insure their property to shield themselves against disasters which often inflict irreparable loss on them.
Country Manager of Lamudi, Mr Godlove Nyagawa, said after disasters accommodation for victims is a big problem because most of them lose all that they invested in.
"Often times victims are compensated by receiving plots, houses, or funding, yet other victims find themselves living in tented housing for extended periods of time," Mr Nyagawa said.
He said to avoid such problems individual house owners should insure their property against disasters so that they get compensated in case of disaster.
"The best way to avoid this of course is to have solid foundations and infrastructure as preventative measures. We also must encourage private home insurance for all income levels so when unexpected disasters occur, the home owners are not left to rely on family or government," the Lamudi Country Manager argued.
There are a few property insurers in Tanzania and as the middle class rises and the real estate market formalises, it is expected that there will be an increase in property insurance companies as well as establishment of better solutions to disasters in lower income areas.
In recent years, the country has struggled to cope with the aftermath of disasters such as floods, arms dump explosions, infernos and whirlwinds which destroys infrastructure, homes and loss of people's lives.
In order to address such disasters, the government enacted the Coordination of Disasters and Assistance Act of 1990.
A Disaster Control Guide was established also under Prime Minister's Office and coordinates various sectors, institutions and groups in disasters control and management.
Therefore, government systems are in place to house citizens after disaster strikes, such as the Tanzania Disaster Relief Committee (TANDREC) compensated the victims of the Mboto and Mbagala bombings in 2009 and 2011.
Launched in 2013, Lamudi is a global property portal focusing exclusively on emerging markets. The fast-growing platform is currently available in 28 countries in Asia, the Middle East, Africa and Latin America, with 600,000 real estate listings across its global network.
The leading real estate marketplace offers sellers, buyers, landlords and renters a secure and easy-to-use platform to find or list properties online.
Source: Tanzania Daily News
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