A person can insure almost anything these
days: be it a flight to Mombasa, rental property,
or a valuable phone. You can even take an
insurance cover for your legs or arms if so
inclined. For most car owners Kenya, the third
party cover is usually the most crucial type of
coverage and in it is also required by law.
However, this coverage is only limited to
damage and physical injuries as a result of an
accident. For those who use their vehicles
often, stay in a flood zone or park their cars
where demonstrations are likely to happen,
know that apart from accidents, there are many
other ways in which their cars can be damaged.
This is where comprehensive insurance comes
in handy. A comprehensive insurance in Kenya
usually covers damage as a result of other
incidents other than an accident, like fire, theft,
vandalism, animal damage, the weather and
falling objects. Although this type of cover is
not required by the Kenyan law, it may be a
good idea especially if you consider the value of
the car you drive. In fact most drivers of
financed or leased cars are required to acquire
this type of insurance cover so as to protect
the car lender or owner’s investment.
The Cost of Comprehensive
insurance
The total cost of this type of cover largely
depends on the deductible amount. Higher
deductible amounts means you will cover more
of the damages before the insurance cover
kicks in in case of an incident, but on the other
hand this also lowers the overall premium you
pay. The type of car you drive also determines
your comprehensive insurance coverage rate. A
car that has high repair costs or more claims
usually attracts a higher premium. Vehicles with
various safety features like anti-theft protection
however can be eligible for discounts. You can
use our car insurance premium calculator to
help you determine the premiums you will be
paying on your new or used car. Some of the
benefits of this type of insurance includes: It
covers almost everything including hijacking,
fire, natural disasters and road accidents. The
cover also covers damages incurred by the third
party in case of an accident.
Why Comprehensive
insurance is important for
private motor owners
This type of insurance covers you and third
parties. It also allows you to claim any type of
damage to your car regardless of who is to
blame. The benefits of comprehensive policies
vary between various companies, so it is
essential that you check various insurers’
policies before deciding which one suits you.
But in most cases the cover usually includes
benefits such as: cover for glass and
windscreen, stolen or damaged belongings,
emergency break down assistance, recovery
services, hire or replacement car, the car radio
which can save you a lot of money.
What determines the overall
comprehensive insurance
cover cost?
Although different insurance firms have different
policies regarding the comprehensive insurance
cover, the average pay for all firms is equally
the same. However, the comprehensive
insurance cover cost of your vehicle will be
determined by a variety of issues including:
The specific case at hand. Because
insurance companies face many claims
under the comprehensive cover, at a time,
each and every case incurs a different
overall cost. For instance, a comprehensive
insurance based on theft will totally be
different from that of accidents or a natural
calamity.
The prevailing market value of your vehicle.
Vehicles have different market values
depending on their age, current condition as
well as the model and year. Some vehicles
will have a higher market value than others
which will determine the comprehensive
insurance cover cost. For instance, the
higher the value of the vehicle the more
expensive the overall comprehensive
insurance cover cost.
How to get the best
comprehensive insurance
cover?
Even with the fore mentioned, the
challenging part usually lies on how to get a
comprehensive insurance cover that
incorporates all your required aspects and
will stand on the fore front to protecting you
in case a risk arises. If you are looking for
the best comprehensive cover, keep the
following tips in mind to help you make an
informed choice.
Research adequately on the available
insurance firms offering the services. You
can visit the firm’s websites, as well
as seek consultation from trusted
individuals. Take your time to selectively
choose the best available package.
Reference from family and friends is the
best way to acquire reliable and adequate
information that can fully assist you in
making an informed decision.
Common mistakes to avoid
when choosing a
comprehensive insurance
cover
There are some common mistakes that if you
avoid, you are bound to get the best deal when
it comes to getting a comprehensive insurance
cover. Get to know some of these mistakes so
that you know all the dos and don’ts when
looking for one. Below are some of the common
mistakes:
Having inadequate information about a
comprehensive insurance cover. Information
is the key to any wise decision.
Ignoring guidance and consultation from
experts and professionals in the field. With
consultation, there are limited chances in
making the wrong decision. And in case you
don’t seek consultation, be assured that you
will end up having the wrong comprehensive
insurance cover.
If you own a car and reside in an area prone to
theft, as well as natural calamities having a
comprehensive insurance cover is the ideal
option. With a comprehensive insurance cover,
you are assured to up to the last cent
compensation in case of any risk resulting to
damage of your vehicle or third parties. You
should also check the policy on your cover for
more details about what your cover does and
what it does not cover. Most car insurers in
Kenya like Jubilee Insurance, Madison Insurance
and Heritage Insurance usually include an
excess clause in their policies. This means you
will have to pay the initial part of the damage or
loss to your vehicle usually up to a certain
amount. Note that you cannot claim amounts
that are less than the listed excess. The higher
the excess amount the lower your premium will
be.
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