Jambo to you all. Today, I wish to discuss motor vehicle insurance, particularly comprehensive covers. My name is Tamara Were, and as your personal financial planner, I’m here to provide valuable insights to ensure you’re well-informed.

What is Comprehensive Motor Vehicle Insurance?

Comprehensive motor vehicle insurance is a type of insurance policy that covers a wide range of risks, including damages to your car from accidents, theft, fire, natural disasters, and even vandalism. It offers extensive coverage compared to third-party insurance, ensuring that both your vehicle and the third party are protected.

Steps to Take When an Accident Occurs

1. Document the Incident:
   • Take pictures of the accident scene, including the damages and positions of the vehicles involved.
   • Send these pictures to your insurance advisor to help determine the details of the incident and who was at fault.
2. Submit Claim Forms:
   • Your insurer will provide you with claim forms that need to be filled out with detailed information about the accident.
   • Send the completed forms back to your insurance advisor promptly.
3. Vehicle Repair:
   • The insurance company will direct you to designated garages for repairs.
   • If you prefer to use your own garage, this can be discussed and agreed upon with your insurer.

Vehicle Valuation for Comprehensive Cover

Before receiving a comprehensive cover, your vehicle must undergo a valuation. Here’s what you need to know:

• One-Month Sticker:
  • Initially, the insurer issues a one-month sticker along with a valuation letter.
  • This sticker is temporary and meant to give you time to get your vehicle valued.
• Valuation Process:
  • The valuation letter includes the valuer’s contact details and location.
  • The valuer can also come to your location for the assessment.
  • During valuation, you need to provide a copy of your logbook, national ID, and PIN for verification.
• Importance of Valuation:
  • Regardless of whether you’ve paid the full premium, the vehicle must be valued before receiving a full-year sticker.
  • No insurance company can issue a comprehensive cover without this step.

Excess Amount in Comprehensive Cover

An excess amount is a sum you agree to pay towards a claim before your insurance covers the rest. Understanding its role is crucial:

• Coverage for Minor Damages:
  • Having an excess amount means that minor damages, like scratches or broken windows, will be taken care of by the insurer.
  • Without an excess amount, you might be responsible for minor repairs.

Personal Accident Cover

A comprehensive cover does not protect you, the driver, in the event of an accident. Here’s why having a personal accident cover is essential:

• Protection for the Driver:
  • While the comprehensive cover ensures the vehicle is repaired or replaced, it does not cover your medical expenses or personal injuries.
  • A personal accident cover ensures that you receive medical care and compensation in case of an accident.

Conclusion

Comprehensive motor vehicle insurance is vital for protecting your vehicle from a wide range of risks. However, it’s equally important to understand the steps involved in making a claim, the necessity of vehicle valuation, the role of excess amounts, and the significance of having a personal accident cover. By being well-informed, you can ensure that you and your vehicle are adequately protected.

Thank you so much for reading. For personalized advice, feel free to contact me at +254 777 675977.

Tamara Were, your personal financial planner. Have a blessed time and stay safe!