This is a policy designed to protect against loss of or damage to vehicles owned.
Below are the scope of motor insurance policies;
Third Party Only [TPO]:
This is the basic and minimum cover available. It provides for liability to third parties in respect of death of/bodily injury and damage to third party property arising out of or caused by use of insured’s motor vehicle.
Third Party, Fire and Theft [TPF&T]:
In addition to TPO cover, this level of cover extends to indemnify the insured against damage to the motor vehicle arising out of fire, burglary or theft.
Comprehensive: This is a superior cover that in addition the TPF&T extends to cover any other accidental damage to the vehicle including collision, overturning, effects of floods, earthquakes etc..
Classes of motor insurance include:
Private motor policies – For private car owners.
Commercial motor policies – For General cartage, Own goods vehicles, School and Church bus/vans.
Public Service Vehicles – For PSV Matatus, Taxis, Chauffer driven and Self driven vehicles.
Special type vehicles – For Excavators, Tractors, Forklifts etc.