THIRD PARTY ONLY
Motor vehicle insurance is a basic and compulsory cover required by law in East Africa and many other countries in the world. The law requires there to be cover against third party liability and the insured/proposer may then extend the policy to cover the vehicle (indemnity) against various perils. This can be done in two stages.
THIRD PARTY, FIRE AND THEFT
This covers third party liability, fire damage to the vehicle caused by physical and visible means and self-ignition due to mechanical or electrical failure. It also covers loss or damage to the motor vehicle due to theft or attempted theft.
This covers third party liability and all risks including theft, fire and accidental damage. The cover has other additional extensions like towing charges cover, riot and strike extension, flood and typhoon damages, replacement of parts, personal accident to driver and passenger legal liability. There are numerous extensions under this cover. For example, car insurance may include extra benefits such as courtesy car, accommodation following an accident and insurance against damage of personal effects
There are many classes of motor vehicle insurance namely:
- Motor private
- Motor commercial – own goods
- Motor Commercial – General Cartage
- Motor Commercial – Passenger Service Vehicles (Uber)
- Motor Special Vehicles– Tractors
- Motor Cycle Insurance