Takaful Motor, Household and Business Insurance

Offering comprehensive, reliable and Shari'ah compliant insurance cover for your vehicle, household and business, Takaful Motor, Household and Business Insurance also includes a range of useful additional benefits and assistance programmes.

Absa’s Takaful cover offers specifically developed products that are tailor-made to suit the needs of both individuals and business.

Personal Takaful covers your private residences, contents, portable electronic equipment, and your private motor vehicles.

Commercial Takaful provides cover for all your valuable business assets, equipment, buildings and commercial motor vehicles.

Takaful also provides Mosque Building cover, which covers your local mosque against any damage caused by storms, fires or floods.

Did You Know?
*Waqf - An appropriation of property in perpetuity so that no proprietary rights can be exercised over the usufruct. The Waqf property can neither be sold, nor inherited or donated to anyone.

What you get?
  • Personal insurance cover for your vehicle and household
  • Insurance cover for your commercial assets and vehicles
  • A share of the Takaful Pool should it make a profit, based on contributions during that year (structured on a Waqf fund according to the principle of surplus share)
  • Access to a range of free services (mechanical and electrical assistance), home and roadside assistance (for breakdowns), and great deals on products and travel services
What’s in it for me?
Takaful products

Takaful products are sold by brokers. All AIC brokers should be able to offer Takaful as an insurance option to any client.
Takaful products provide comprehensive, tailored and reliable cover for all motor, household and business needs and offer the assurance that the cover operates in accordance with Shari’ah.


Cover for business that can be tailored to include: fire, loss of income, buildings, office contents, business risks, theft, glass and motor.

Takaful Business and Household Risk Cover

Shari’ah compliant insurance of assets is underwritten by Absa Insurance Company. It includes Mosque Building Cover and offers Surplus Share, which means that if the fund makes a profit, the participants are entitled to a share of the surplus based on contributions through that year.


Personal short-term insurance that can be tailored to cover vehicles and homes for:
Building cover, all-risk cover, contents cover, personal liability cover and motor cover


24-hour Roadside Assistance for electrical and mechanical breakdown.

What does Islamic Takaful Insurance benefits include?

  • Motor – locks and keys, medical expenses, emergency accommodation and an accident management programme
  • Home – contents of refrigerator, accidental damage, impact, property of guests, household goods in transit, glass, fire brigade charges, security guards, loss of rent, electric gates, plumbing, geysers
  • Surplus Share – if the fund has a surplus it may be paid to the participants
  • Mosque Building Cover – cover for losses caused by storm, fire or floods in the client’s area
Shari'ah Compliance

Shari'ah Law governs the manner in which Muslim people conduct their lives, including banking. Islamic Banking is deduced from the Shari'ah Law, hence it differs from conventional banking, and forbids the payment or earning of interest, among other requirements.

As an alternative financial system to conventional banking, each of the solutions within Absa Islamic Banking are managed and administered according to Shari'ah Law under the guidance of the Absa Shari'ah Supervisory Board – comprised of learned Muslim scholars.

This independent board specialises in Fiqh Almua’malat (Islamic Commercial Jurisprudence), directing, approving, reviewing, supervising and monitoring the activities of Absa Islamic Bank to ensure Shari’ah compliance.

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