Motor vehicle insurance is not a one-size-fits-all solution, as every vehicle owner has unique insurance needs. While standard insurance policies offer essential coverage, add-on covers provide the flexibility to customize your policy according to your specific requirements. Add-ons, also known as riders, are optional features that you can include in your motor vehicle insurance to enhance your protection and extend coverage beyond the basic policy.
In this guide, we will explore the different types of add-on covers available in motor vehicle insurance in Kenya, empowering you to make an informed decision to safeguard your vehicle and yourself on the roads.
Personal Accident Cover
A personal accident cover provides financial protection to the vehicle’s owner and passengers in the event of an accident. This add-on offers compensation in case of accidental death or disability resulting from an accident involving the insured vehicle. The cover ensures that you and your loved ones are financially supported during challenging times, providing additional peace of mind.
Roadside Assistance
Breaking down on the roadside can be stressful, especially if you are far from home or unfamiliar with the area. Roadside assistance add-on provides support in such situations. The insurance company arranges for services like towing, fuel delivery, battery jump-start, flat tire assistance, and even minor repairs. Having this add-on ensures that you can quickly get back on the road with minimal disruptions.
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Zero Depreciation Cover
In standard motor vehicle insurance policies, depreciation is considered when settling claims for vehicle repairs or replacement parts. A zero depreciation cover, also known as a bumper-to-bumper cover, eliminates the impact of depreciation. With this add-on, the insurance company reimburses the entire cost of repair or replacement without factoring in depreciation, providing you with higher claim settlements.
Engine Protector
The engine is one of the most critical and expensive components of a vehicle. The engine protector add-on covers damages to the engine due to events like water ingression, hydrostatic lock, or oil leakage. Since standard insurance policies may not include engine damage, having this add-on can save you from significant repair expenses.
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Consumables Cover
During repairs, several consumables like nuts, bolts, engine oil, coolant, etc., are used. The cost of these consumables is usually not covered in standard policies. A consumables cover add-on provides reimbursement for these expenses, ensuring that you are not burdened with additional out-of-pocket costs.
Key Replacement Cover
Losing your vehicle keys can be both inconvenient and expensive. A key replacement cover takes care of the expenses incurred in replacing lost or stolen vehicle keys, including key reprogramming costs, ensuring that you are not left stranded.
NCB Protector
As explained in our previous article on No-Claim Bonus (NCB), the NCB protector add-on helps you retain your NCB benefits even after filing a claim. With this add-on, you can make a claim during your policy term without losing the accumulated NCB discount.
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Invoice Protection
In case of theft or total loss of your vehicle, the insurance company settles the claim based on the vehicle’s current market value. However, the market value may be lower than the vehicle’s original purchase price. The invoice protection add-on bridges this gap by providing coverage for the on-road price of your vehicle, ensuring you receive a higher claim settlement.
Medical Expenses Cover
While personal accident cover addresses bodily injuries, medical expenses cover focuses on medical expenses incurred by the insured due to an accident. This add-on covers hospitalization expenses, medical treatments, and other medical costs resulting from an accident.
Loss of Personal Belongings
If your personal belongings, such as a laptop, mobile phone, or other valuables, are stolen or damaged during an accident, the loss of personal belongings add-on provides compensation for the losses.
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Courtesy Car
During the repair period after an accident, you may need alternative transportation. The daily allowance benefit add-on provides a fixed daily allowance to cover rental expenses for a hired vehicle while your insured vehicle is under repair.
Hydrostatic Cover
Hydrostatic lock is a situation where the engine seizes due to water entering the engine. Standard policies may not cover such damage. The hydrostatic cover add-on protects you from such engine damages caused by water ingression.
Conclusion
Add-on covers in motor vehicle insurance offer the flexibility to tailor your policy to suit your unique needs and provide comprehensive protection on the roads of Kenya. From personal accident cover and roadside assistance to zero depreciation cover and NCB protector, these add-ons enhance your insurance coverage and safeguard you from unexpected expenses during accidents or unforeseen incidents. When choosing add-ons, consider your driving habits, vehicle usage, and potential risks to customize your policy for maximum protection and peace of mind on your journeys.