AYEFELE: INSURANCE FIRMS DELAY EARLY RECOVERY

“To everyone asking if I didn’t insure my music house, let me clarify. How could I erect such a mighty building and not insure it? Years ago, I insured all my musical equipment. Unfortunately, there was an accident in Sagamu, and all my equipment was destroyed. Naturally, I expected the insurance company to act immediately, but they didn’t.

I had to write to them and obtain a police report. They said they needed to investigate the scene of the accident, which would take time. I eventually had to hire a lawyer before they gave me a small settlement.

A friend of mine once sold wristwatches and insured his shop. One day, robbers broke in through the ceiling and stole all the watches. When he contacted the insurance company, they inspected the shop and asked why he didn’t install a burglary-proof ceiling.

He engaged a lawyer, and the case dragged on for years. Even now, he hasn’t received a dime. These experiences show that insurance can take a long time to deliver, and sometimes, claims are disputed.

If I were to put Fresh FM on hold until the insurance company responds, we wouldn’t be on air again this year. They will first start an investigation into what caused the fire. I’m not against insurance, but the truth is they often don’t respond on time.”