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THE STORY BEHIND ATOMIC JUNCTION EXPLOSION

The twin explosion which occurred at the Atomic Junction on 7th October, 2017, had many concerns raised once again, as it was the eighth to have occurred in the past three years. Most of the issues are directed at the planning regulations and policies to control the development of these filling stations, but there is more to that. GhanaCompares.com blog team is here to update you. What about the lives lost? What about the medical bills? What about the damaged property? According to George Owusu,…

How to Shop for Car Insurance in Ghana

Car insurance is one of the most popular insurance policies in Ghana. This is probably because Ghanaian regulations require that all motor vehicles should have insurance. Because of the popularity of car insurance, most insurance companies offer some variation of motor insurance. Therefore, if you are shopping for car insurance you are going to have a whole range of options for you. This article will help you pick the best one for you. The first thing you have to decide is what you need the motor…
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Personal Factors That Affect Insurance Rates in Ghana

For someone who holds an insurance policy, the cost that you bear is the premiums you pay to the insurance company. To the insurance company, the receipts from the person insured must be adequate to cover the risk of a misfortune happening to him or her. The person purchasing the insurance policy reasonably wants to reduce the premiums he or she will pay while the insurance company wants to maximize the premiums they will be receiving. In order to reach a price that will be agreeable to both parties,…
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How to Choose the Right Insurance Company in Ghana

If one were to make the choice about a partner who will be there for them when they are at their weakest, it is obvious that such a choice will take some time. One therefore wonders why many people in Ghana do not take enough time to choose the insurance company which they buy a policy from. Think about it, an insurance company is basically going to be your life line in the event of a huge misfortune then you want to have the best possible insurance company at that time not a company you just…
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Life Insurance Planning for Working Couples in Ghana

When both members of a household are working and bringing in income, there are several advantages. For one thing, there is likely to be more income to go around. This means that the members of the household are likely to enjoy a decent standard of living. It also means that the risk of a significant loss of spending power when one member of the family loses his/her job is less. With the nature of the job market in Ghana, one could take a long time to get another job after losing one. Therefore, having…
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Is your life insurance cover too little?

It is reasonable human behaviour to want to pay the lowest price possible for a product. Life involves a lot of bargain and trying to get the best deals. This happens when we go to the market for some groceries, when we are looking to rent a house, when we want to buy a car, and even when we’re seeking to pay for a service. That we carry this same behaviour into our search for insurance is no surprise. The unfortunate reality in Ghana is that too many people buy insurance policies only when…

Young Ghanaian Drivers and Car Insurance

One of the most exciting experiences any young person in Ghana will have is having a car for the first time. Apart from the convenience that having a car will bring in terms of movement, it is also a status symbol which gives one some social capital. But having a car as a young Ghanaian is not all about fun, there are responsibilities which come with it. A car requires regular maintenance to ensure that it does not break down and leave you in a critical situation. You also have to be more concerned…
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Keeping Track of Your Insurance Policy

If you are like most people in Ghana, once you sign up for an insurance policy you do not take the trouble to make regular enquiries about what is happening. In fact, you only take note of your policy when you have to make premium payments or even worse, when you need to make a claim. This may not look like a big deal at first glance, but this article will explain why it is dangerous and what one can do to avoid it. For far too many people in Ghana, it is only when an unfortunate incident happens…
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Is insurance a scam? 

A popular but unfortunate perception among some people in Ghana is that the whole business model of insurance is a scam. Just search for “insurance” and “scam” on google and you will be sure to see several arguments by people in conspiratorial tones about how the insurance companies do nothing but take people’s money in the form of premiums and give nothing back. To be fair, some insurance companies do nothing to prevent this kind of perception. They offer bad policies that are expensive…
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Keeping Track of Your Insurance Policy

If you are like most people, once you sign up for an insurance policy you do not take the trouble to make regular enquiries about what is happening. In fact, you only take note of your policy when you have to make premium payments or even worse, when you need to make a claim. This may not look like a big deal at first glance, but this article will explain why it is dangerous and what one can do to avoid it. For far too many people, it is only when an unfortunate incident happens and they try to…