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African News Herald > Blog > Ghana > SME’s business needs business protection insurance: Safeguard your business from disasters
Ghana

SME’s business needs business protection insurance: Safeguard your business from disasters

ANH Team
Last updated: July 9, 2025 1:22 pm
ANH Team
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SME’s business needs business protection insurance: Safeguard your business from disasters
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Small and medium-sized enterprises (SMEs) in Ghana play a crucial role in driving economic growth and employment. However, these businesses face significant risks that can lead to financial setbacks. From fires and floods to theft and operational disruptions, unexpected events can have a major impact on small business owners. This is where Business Protection Insurance comes into play, providing a safety net to help businesses recover quickly and continue operating despite adversity.

Coronation Insurance Ghana LTD. has partnered with MTN MoMo to make Business Protection Insurance easily accessible and convenient for small business owners in Ghana. This partnership allows business owners to secure their livelihoods with just a few taps on their mobile phones, offering comprehensive coverage to mitigate losses and protect vital assets.

Business Protection Insurance covers a range of perils, including fire, flood, storm damage, theft, and personal accidents to the business owner and employees. It typically includes coverage for stock or inventory, office contents or equipment, and personal accident coverage for injuries sustained during work. This insurance provides a strong foundation for businesses to withstand the financial impact of unforeseen events, helping them stay afloat and avoid permanent closure after a disaster.

For small businesses in Ghana, where many do not have extra savings for emergencies, Business Protection Insurance is essential. It helps cover the cost of repairs and replacing damaged items in the event of floods, fires, or theft, allowing businesses to recover quickly. It also provides support for medical expenses for injured workers and compensation for death or disability, giving business owners peace of mind and allowing them to focus on growing their business.

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Traditionally, getting business insurance in Ghana has been a complex and time-consuming process. However, Coronation Insurance Ghana LTD. and MTN MoMo have simplified this process, allowing business owners to sign up for Business Protection Insurance directly from their phones using the MTN MOMO code *170#. This convenient and accessible solution enables SMEs across Ghana to protect their assets and operations with ease.

In a real-world example, imagine a retail shop owner in Accra whose shop is flooded during the rainy season, causing significant damage to stock and equipment. Without insurance, the cost of repairs and replacements could be overwhelming. However, with Business Protection Insurance, Coronation Insurance Ghana LTD. would cover the damage as per the policy limit, providing financial assistance to the business owner.

To sign up for Business Protection Insurance through MTN MoMo, business owners can dial the designated USSD code (*170#), select Coronation Insurance, choose their coverage plan, pay the premium using their MTN MoMo balance, and enjoy peace of mind knowing their business is protected.

In conclusion, Business Protection Insurance is a vital tool for small businesses in Ghana, offering a safety net to help them withstand unforeseen disasters and continue operating smoothly. Through the partnership between Coronation Insurance Ghana LTD. and MTN MoMo, business owners can easily access this essential protection and secure their assets, operations, and livelihoods. To learn more about signing up for the Business Protection Plan via the MoMo platform, business owners can contact Coronation Insurance Ghana LTD. directly for guidance and support.

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