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.
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.