The basis of the contract is the proposal form. Premiums must be paid upfront before commencement of cover. Premiums form the basis or the consideration for indemnity.
Kenindia Assurance Company Ltd offers the following products under Motor Insurance:
• Motor Private Insurance.
• Motor Commercial Insurance.
• Motor PSV Insurance.
Under motor private insurance, all private vehicles are covered. The covers given are classified into three levels:
• Third party: This covers the legal liability of the owner or driver towards third parties against injuries or damages to their properties, subject to exclusions.
• Third party fire and theft: In addition to third party cover, it covers fire and theft to the vehicle and or its accessories in the vehicle subject to exclusions.
• Comprehensive cover: In addition to third party, fire and theft, it covers accidental and malicious damage to the vehicle. It covers the insured against loss or damage to the motor vehicle and its accessories and spare parts therein.
The loss therein may be paid in cash, reinstatement, repair the motor vehicle or any part or its accessories or parts thereof. The liability thereof should not exceed the market value of the vehicle or the accessories thereof or the sum insured whichever is lower.
Comprehensive cover under private insurance, subject to an agreement, attracts several extensions with no extra premiums on:
• Radio Cassette.
• Personal Accident.
• Legal Liability.
In any case, the insurance contain an imposed excess. An excess is the first part of any claim which is borne by the insured.