This provides insurance protection against accidental loss or damage to personal private motor vehicles including the standard accessories and spare parts whilst thereon as well as protection against legal liability to third parties.
i) Third Party Only
This is the minimum cover that can be offered and coverage includes:
- The death of/bodily injury to any persons other than employees of insured and members of his own family.
- Damage to Third Party property arising out of or caused by the use of insured’s motor vehicle.
ii) Third Party, Fire and Theft
- Includes above.
- In addition, there is coverage for damage to insured’s motor vehicle arising out of or caused by fire, external explosion, self-ignition, lightning, burglary or theft.
- Includes A and B.
- It also covers loss or damage to the motor vehicle caused by or arising out of accidental collision or, overturning, or collision or overturning consequent upon mechanical breakdown, wear or tear.
This is normally based on usage and description, the major classes being:
i) Private Car (Class I)
Social use not including use in business apart from commuting to/from work of saloon car, Salesmen’s vehicle is not inclusive
ii) Private Car (Class II)
Inclusive of social and domestic use of saloon cars as well as salesmen vehicles and in connection with insured’s business
This provides comprehensive commercial auto insurance to indemnity business firms and large corporations against accidental loss or damage to the motor vehicle and its accessories whilst thereon as well as protection against legal liability to third parties.
- Provide Comprehensive Cover to Commercial Fleets for general transportation of goods, passengers and service vehicles.
- Own Damage
- Theft & Fire damage
- Third Party Property Damage
- Third Party Bodily Injury
This class includes any two wheeled vehicle propelled by an engine exceeding 50cc.