Vehicle owners in Kenya will have to dig deeper into their pockets to meet their comprehensive vehicle insurance costs. This is follows a decision by insurers to increase the cost of comprehensive vehicle insurance in Kenya by fifty per cent.
Insurers have attributed the increase in cost to an increase in the number of claims from motorists. Insurance firms who provide comprehensive packages at Sh. 47,000 for private motor vehicle covers have revised their rates to Sh. 72,000 effective January 1, 2022. Some have revised their premiums from Sh. 51,000 to Sh. 74,000.
All you need to know about comprehensive car insurance in Kenya
In addition, some insurers will not be providing comprehensive coverage for vehicles whose valuation is below half a million shillings.
Some insurers have already stopped covering certain vehicle models under the comprehensive package. In February 2019, Occidental Insurance stopped offering comprehensive insurance to these 25 car models. This followed what the insurer termed as high cost and unavailability of spare parts for the vehicles. The vehicles that were removed from the insurance package ranged from Toyotas to Mazdas. The vehicles affected by the move were moved to Third Party Insurance upon renewal of their covers. The affected models included:
1. Honda HRV
2. Honda Crossroad
3. Honda Insight Hybrid
4. Honda CR-Z
5. Suzuki Alto Ex Japan
6. Suzuki Swift
7. Suzuki Escudo
8. Mazda Axella
9. Mazda Premercy
10. Mazda Tribute
11. Mazda Verisa
12. Mazda CX7
13. Mazda Familia
14. All models of Daihatsu
15. Subaru Exiga
16. All models of Renault
17. Toyota Gaia
18. Toyota BB
19. Toyota OPA
20. Toyota Vios
21. Toyota Voltz
22. Toyota Prius Hybrid
23. Toyota Lexus Saloon
24. All models of Hyundai
25. Ford Escape
Among road accidents in Kenya, the majority of casualties have involved road accidents where boda boda has been involved. At least 1,400 people had died in two years to June 2021 in ever-increasing boda-boda accidents. Some 1,956 others had been seriously injured, while 634 people have sustained slight injuries between January 2015 and January 2017, when 1,399 died. These deaths from motorcycles are half the average annual deaths – 3,000 – on roads, a disturbing finding that the National Transport and Safety Authority is scratching its head over in search of a solution.