Motor Insurance

You need motor insurance when you buy a motor vehicle. Motor insurance covers your vehicle, be it a motorcycle, a car or a lorry, in case of accidents or theft.

When it comes to buying a policy, always:

Check the market value price of your vehicle. If it is a new vehicle, the insured value will be the purchase price. Ensure that your vehicle is adequately insured as it will affect the amount you can claim. Give all material facts about your vehicle, including previous accidents (if any), modification to engines, etc. When in doubt, it is best to ask your insurance company.

Make sure that the amount covered in your motor insurance certificate reflects the market value of your vehicle and not any other value to avoid over-insurance or under-insurance.

If you are involved in a motor accident and have a comprehensive cover, you may either make an own damage claim or a third party claim. There are different procedures involved. Inform your insurance company immediately and act according to their instructions. You may need to send your damaged vehicle to an approved workshop. You may check for the list of approved workshops from your insurance company. Make sure you send all relevant documents to support your claim to your insurance company as soon as possible.

	You may cancel your motor insurance policy at any time by notifying your insurance company in writing, inclusive of the date you want to stop the policy.
	It is a good idea to have a new policy in place before cancelling your previous one so there is no gap in between coverage.
	Insurance companies also generally offer a refund premium based on how old your current insurance policy may be, the newer it is when you cancel it, the more refund you will receive.