MOTOR THIRD PARTY, FIRE AND THEFT INSURANCE COVER

MOTOR THIRD PARTY, FIRE AND THEFT INSURANCE COVER

Motor Third Party, Fire and Theft Insurance Cover

In addition to the benefits under the third party cover, the Motor third party, fire and theft insurance policy covers the following:

·        The cost of repair or monetary compensation to the policyholder if the insured vehicle is damaged by fire.

·        Damage to the vehicle either during attempted theft or whilst it was being stolen or if the vehicle was stolen and not recovered.

·        The cost of repair, replacement or monetary compensation for the loss of or damage to permanently fitted accessories such as car radio, cassette, compact disk, and audio speakers.

Motor Comprehensive Insurance Policy

The Motor comprehensive insurance policy is the widest cover. In addition to the benefits under the third party, fire and theft insurance, the comprehensive policy covers the following:

·        Repair cost or the sum insured for accidental loss or damage to the insured vehicle.

·        The refund of reasonable towing cost.

·        Replacement cost of windscreen if accidentally damaged, broken or shattered.

·        Replacement cost of any tire damaged and rendered unusable as a result of an accident provided the tire was not worn out prior to the accident.

Period of Cover

The duration of cover is usually one (1) year but one can arrange for a short period Motor Insurance from 1 month to eight (8) months. For the purposes of premium calculation, any period after 8 months is usually considered as 1 year.     

Sum Insured

This is the maximum amount payable under third party, fire and theft; and comprehensive covers in respect of the loss or damage to the insured vehicle and is used as one of the factors for the calculation of the premium to be charged in respect of the above-mentioned two (2) types of third party, fire and theft; and comprehensive covers.