Motor Insurance

7 Things to Consider Before Buying Motor Vehicle Insurance in Kenya

7 things to consider before buying motor vehicle insurance in Kenya

While motor vehicle insurance is a statutory requirement in Kenya, a good policy provides financial protection in case of an accident or damage to your vehicle. However, with so many insurance options available, it can be challenging to choose the right one. In this article, we’ll discuss some important things to consider before buying motor vehicle insurance.

Contents:

  1. Coverage Options ↴
  2. Deductibles ↴
  3. Discounts ↴
  4. Insurer’s Reputation ↴
  5. Cost of Cover ↴
  6. Coverage Limits ↴
  7. Claim Process ↴
  8. Conclusion ↴
  9. Get Quote Estimate ↴

Coverage options

One of the most critical factors to consider is the type of coverage you need. There are two main types of motor insurance in Kenya: Third Paty Only (TPO) and Comprehensive. Third party coverage is required by law and covers damages you may cause to other people and their property.

Comprehensive coverage covers collision and non-collision damages like theft, vandalism, or natural disasters. Consider your needs and choose the coverage options that best suit you.

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    Premium Payment:

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    2. One Month Premium: KES 1,547

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    Deductibles

    A deductible is an amount you will have to pay out of pocket before your insurance coverage kicks in. A higher deductible usually means a lower premium. However, you need to choose a deductible that you can afford to pay if an accident happens.

    Discounts

    Many insurance companies offer discounts that can help you save money. For example, you may be eligible for a discount if you have a clean driving record or if you bundle your car insurance with other types of insurance like home insurance. Check with your insurance company to see what discounts are available.

    Read Next: How to Choose the Best Motor Vehicle Insurance in Kenya

    Insurer’s Reputation

    It’s essential to choose an insurance company with a good reputation. Look for companies with high customer satisfaction ratings and a history of prompt claims processing. You can check reviews and ratings or ask for recommendations from family and friends.

    Cost of Cover

    While cost shouldn’t be the only factor you consider, it’s important to find an insurance policy that fits your budget. Compare quotes from different insurance companies before making a decision.

    Coverage limits

    Insurance policies have coverage limits, which are the maximum amount the insurance company will pay out for a claim. Make sure the coverage limits are high enough to cover potential damages or injuries.

    Claims process

    In the unfortunate event of an accident, you’ll need to file a claim with your insurance company. Consider the ease of the claims process, including how to file a claim, how long it takes to process, and the overall customer service the insurance company provides.

    Read Next: Motor Vehicle Insurance in Kenya (Explained)

    Conclusion

    In conclusion, buying motor vehicle insurance is an important decision that requires careful consideration. Consider your coverage needs, deductibles, discounts, the reputation of the insurance company, cost, coverage limits, and claims process before making a decision.

    By taking the time to research and compare insurance policies, you can find the right coverage that meets your needs and provides you with peace of mind. Request a free quote below.

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