Types of Car Insurance in Kenya.
When investing in a car, most people take into
consideration aspects related to its maintenance and security. While the story
doesn’t end at spending a significant amount for purchasing a car, insurance
acts as a essential coverage to protect your asset.
If you have not insured
your car under a beneficial coverage plan, you might have to pay high expenses
following an accident or breakdown or if the car is stolen.
In order to avoid the extra costs, you must get
your vehicle insured. However, this doesn’t signify that you settle for any
insurance policy. It is essential that you search the market thoroughly before
opting for a suitable car insurance
There are three types of insurance offered in Kenya.
- Third party insurance
- Third party fire and theft insurance
- Comprehensive car insurance.
Third Party Insurance.
The Kenyan law strictly recommends all car owners to insure
their cars that run on the roads. However, the choice of car insurance plan
will completely depend on your decision. Third party
insurance offers the most basic benefits to protect your car
following an accident. This plan must only be considered if you are looking for
the minimum coverage for your car in Kenya.
A third party policy is beneficial in the following cases:
- If you only want to ensure your car is
street-legal
- It can be the best option if you know that
your car is not experiencing or will not face any serious risks.
- This may be even beneficial if your car is not
used much or has been in long-term storage facility.
- This will help manage your cash flow.
The third party insurance will meet the expenses that are
incurred from an accident that occurred as a result of your fault, negligence
or rash driving. The policy will take charge of the liabilities arising from
the damage made to the other person, their vehicle and/or property.
However, what this insurance doesn’t cover are the medical costs
incurred from your injuries or expenses met following the damage to your car.
In short, third party insurance (as the name suggests) will only provide
coverage for the third or the other party involved in the accident and will not
be liable for any protection to you.
Third party fire and theft Insurance.
The Kenyan law strictly
recommends all car owners to insure their cars that run on the roads. However,
the choice of car insurance plan will completely depend on your decision. Third party car insurance offers the most
basic benefits to protect your car following an accident. This plan must only
be considered if you are looking for the minimum coverage for your car in
Kenya.
A third party policy is beneficial in the following cases:
- If you only want to ensure your car is
street-legal
- It can be the best option if you know that
your car is not experiencing or will not face any serious risks.
- This may be even beneficial if your car is not
used much or has been in long-term storage facility.
- This will help manage your cash flow.
The third party insurance will meet the expenses that are
incurred from an accident that occurred as a result of your fault, negligence
or rash driving. The policy will take charge of the liabilities arising from
the damage made to the other person, their vehicle and/or property.
However, what this insurance doesn’t cover are the medical costs
incurred from your injuries or expenses met following the damage to your
car. In short, third party insurance (as the name suggests) will only provide
coverage for the third or the other party involved in the accident and will not
be liable for any protection to you.
Comprehensive car insurance.
As there is a significant rise in the buying and selling of
automobiles in Kenya, car owners are getting more serious regarding the insurance
of their private vehicle. Most of the people realize the importance of
getting their complete car insured, hence, comprehensive coverage is
gaining popularity and nowadays the most preferred type
of car insurance in Kenya.
While, the other two types offer insurance cover for third
party, fire and theft only, comprehensive car insurance provides
benefits that will provide a complete protection for your car. When you
choose for the comprehensive car policy, you avail the widest car insurance
package that covers the following:
- Costs arising from the loss or damage done to
the car or its parts
- Third-party expenses
- Emergency medical billing costs
Now you know insure your car and
enjoy the benefits that comes with security of your property.
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