Thread by @alasirimotors

A simple guide to Shopping for Motor Insurance Cover in #Kenya : 🧵
A) What Type of Cover do you need ?
* Comprehensive Insurance or Third party only Insurance

* Comprehensive #insurance : provides protection to you, your car and third parties against all possible risks.

* Third party insurance is the basic insurance cover that takes care only of third party damages. The recipient of the claim is not the policyholder but another person or vehicle affected by the first party's insured car.

B ) What use is the vehicle ?
* If your vehicle is for private use then get yourself a Motor private insurance cover i.e comprehensive or third party only. If you settle for the Former your premium will be charged by applying a rate onto the Value of your vehicle

If you settle for Third party only cover then premium will be charged on a flat basis. The recommended pricing is Kshs. 7,500 per annum for this type of cover.
* If you use the vehicle for Your Business to carry goods related to your Biz then get motor commercial own goods cover

with an extension for passenger legal liability for the number of passengers carried in the vehicle. A commercial own goods cover does not provide insurance cover for passengers hence the need to buy the add on extension. Companies charge 500/= per seat.

Your Motor commercial insurance certificate MUST Capture the number of passengers the vehicle is licensed to carry. @NPSOfficial_KE officers are strict on this &you will find yourself in court if you have a passenger in a commercial use vehicle that hasnt captured it on the cert

* If you use the vehicle to ferry other people's goods then get yourself a motor commercial general cartage insurance cover with an option of comprehensive or third party. Remember to add passenger legal liability if you have a turnboy or assistant to the driver

Remember to get yourself a carriers liability insurance cover as a motor commercial general cartage cover doesnt cover the goods you carry for customers but only covers damage to third party property. its important to note this.

The following risks are covered:
Accidental damage
Riot and strikes
Special perils which include flood ,typhoon, hurricane, earthquake and volcanic eruption
Fire
Theft
Windscreen
Radio cassette limit
Emergency medical expenses
Third party property damage

Passenger liability cabin passengers on request
Towing /recovery charges

C) Pick an Insurance Company
Use these 8 Tips when Settling on a reputable insurance Company

*Independent agent vs. insurance company.

*Company history/reputation. Research the insurance companies you're interested in.

*Understand the insurance company's financial strength

*Coverage.

*Price.

*Ease of doing business

*Available discounts. ...

*The power of referrals.

C) Get going
* Once you get to the company it is important to fill a proposal form & pay your premium once everything has been explained to you by your agent or the company underwriter.
Fill the form carefully & remember to sign & request for a received copy beating company stamp

* You will be issued with a full year certificate if you opted for third party insurance PROVIDED the logbook is in your name (insurable interest- proof that you have an interest over the vehicle )

* For Comprehensive cover
The following steps must be followed
* Annual premium will be calculated for you
* You will pay 40% of the annual premium & will be issued with one month certificate being part of the annual cover. Within the one month the vehicle will be valued

& if there is need for transfer of logbook then it must be done within this period. Once valuation is out you will be asked by the company to allow them to revise the value as per the valuation report. It is important to do so as average may be applied incase of total loss

with you not gaving revised the value as per the market value in the report.
Incase you get your logbook within one month , then you can pay the remaining balance of 60% which will be determined by the revised value in the report. Note that balance of premium will be adjusted

and Annual worked out using the new value. You will then pay the difference of the remaining balance & the 40% you paid for one month certificate. At this point you will be given 11 months certificate of insurance.

If after the first month either logbook is not out or valuation isn't done then you MUST extend cover for one month & pay half of the remaining 60% . you will then get a one month cert. The last & final certificate will be for 10 months & can only be given if & when the vehicle

has been valued & logbook is in out & in your name or that of a financier or party who claims joint ownership.
Note : Their financial interest must be captured in the policy if vehicle is bought on hire purchase or if it is financed by an institution e g bank or microfinance

So thats basically it.
Reach out to us on : 0705030596 if & when you need insurance . we also scout for the best cars in mombasa
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