Motor Insurance
Product Date: September 8, 2018
There are various Motor Vehicles insurances for all categories of vehicles - Cars, Trucks, Tankers, Pick Ups and Forklifts.
The insurance can be taken under the following headings.
(a) COMPREHENSIVE COVER
(b) THIRD PARTY FIRE AND THEFT COVER
(c) THIRD PARTY COVER- This policy is mandatory by the Road Traffic Act 1958 (Act 42).
(A) COMPREHENSIVE
The vehicles insured under comprehensive benefits will cover:
i. Loss, damage or destruction of the vehicles themselves from accidental collision, overturning fire and theft.
a. Liability to Third Parties:
ii. Involving death or bodily injury to any person caused by the insured vehicles.
iii. For damage to third party property caused by the use of the vehicles. The statutory limit for damage to third parties’ properties is GH¢2,000.00. However, we recommend that an increase limit be applicable, for a marginal increase in premium, to ensure adequate protection.
(B) THIRD PARTY FIRE AND THEFT COVER
The material damage cover is restricted to only fire and theft cover. In addition, third party liabilities are also covered. (C) THIRD PARTY ONLY
The insurance here is restricted to third party risks only, as explained under (A) above.
PREMIUM
Premiums are computed basing the calculation on the values of the vehicles and the Third Party Property Damage limits chosen. The basic market rate for a comprehensive motor insurance cover is between 5 – 7 percent of the value of the vehicle.
NOTE
A decision as to the most suitable cover to choose will be made in consultation with the insured. We would need a list of all vehicles and their respective values to enable us obtain quotations.
To enable us seek quotations for your consideration, we would appreciate receiving the following information:
Additionally, any documentation indicating discounts earned from current insurers would be very much appreciated.
Motor Insurance
Partnership
As part of our expansion program,we are looking for associations as referral partners from:
Accountants
Mortgage Broker
Consultants
Institutions
Associations
If you are like minded in customer care, feel free to express your interest to associate with insureGhana.com and we will get in touch with you to discuss further..
