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When it comes to buying motor insurance, the decision is often based on what your friend says or the company whose billboards you have seen a lot lately.

However, as easy as the decision may seem, there is a lot to consider when purchasing motor insurance. It is therefore prudent, not to make a decision blindly but rather to know what issues to look for as you compare policies. Here are the major queries you need to look for:

What type of benefits are included and Excluded

Even though the basic premise of buying motor insurance, is to ensure that you are compensated in the event of loss, there are additional benefits which come with the cover. This benefits will vary depending from one insurer to another. For instance, one company may offer coverage against strike, riot and civil  commission for free, while another will charge you for it. It is therefore important to compare and see what are you getting from each company.

The Insurer’s Reputation and Financial Standing

For the most part, people tend to rely on word of mouth to find out which company has a good reputation in paying claims, and how well they are doing financially. As good as those referrals may be, it is important to do your own background research on how quickly they handle claims and what percentage of claims they have paid out each quarter. A good source of this information, is the insurance regulatory authority, which keeps all the records of insurance companies and releases reports on a quarterly basis showing all the information you need concerning every insurance company in Kenya.

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The Policy Terms and Conditions

An insurance policy is a contract and so it is bound by certain terms and conditions. Those terms will determine what happens should you experience a claim. It is very important to familiarise yourself with those terms, such as:

  • What are the excess charges
  • What are the geographical limits for the cover
  • What are the covered perils
  • Under what circumstances will a claim be accepted or rejected

This information is usually covered in a policy document, which is provided after you have bought a policy. This may seem a bit backwards. Fortunately, Afrinsure gives you that information before you  buy a policy.

Consider the Premium Rate & Extensions

The basic price of an insurance policy will pegged on the premium rate. The higher the rate, the higher the price will be. There are also other extensions which can save you money in the event of an accident. These include:

  • AA Road Rescue
  • Courtesy Car
  • Excess Protector
  • Political Violence and Terrorism
  • Strike, Riot and Civil Commotion

Consider carefully, what you need the most and add them to the cover.

You don’t need to be a genius to buy a motor policy, thanks to Afrinsure, you can now easily compare and decide which cover suits you best. If you need additional assistance, you can always call in and get professional advice from our experts.

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