Congratulations on getting yourself that dream car, the one you’ve been saving years for; it’s no doubt your pride and joy.
So, it’s now time to get insured and make sure you’re both protected.
Unfortunately, you are completely clueless about insurance and what type of insurance to get. Shopping for car insurance can be tedious, overwhelming, and even boring, but it’s something that everyone with a car has to do!
The task of finding the right policy that suits your needs is daunting, even for the most ‘clued’ person. There are many things to consider: what excess should you have? Should you pay monthly, quarterly, or even annually? Who should you insure with? And then, there’s that BIG question- Comprehensive or Third Party?
Third-Party Car Insurance
Third-party car insurance is mandatory for every driver in Kenya. It covers liability for someone else’s injuries in case of an accident.
If you get into a car accident and the other driver needs medical attention, this cover will cover the medical expenses. BUT, third party car insurance will not cover the cost of any damage to your or their car.
So, if you are unlucky enough to get into an accident with a brand-new Range Rover or you are lucky enough to be driving one, then you’ll have to pay for the damages right off your pocket.
Comprehensive Car Insurance
If you have the budget for it, comprehensive car insurance is the way to go.
It is the bee’s knees of car insurance policy- you can think of it as your best friend who’s always there to bail you out of trouble.
Comprehensive car insurance covers you for a couple of things:
- Collision: in this, the plan covers the cost of replacing or repairing your car. Additionally, it also covers the cost of damages to other people’s property.
- Accidental Damage: covers anything related to accidents like that time you accidentally ran into an electricity pole when you were reverse parking
- Severe Weather Damage: Comprehensive car insurance plan covers any damages caused by or is a result of storms, floods, and more
- Third-Party Property Damage (Legal Liability):
Many comprehensive car policies will also cover you for things like loss of keys, towing expenses, emergency repairs, and roadside assistance.
Some comprehensive insurance policies will give you a switch replacement vehicle if your car needs to be repaired overnight.
Even with some great deals, the price tag for a comprehensive insurance policy is very high. So, if your budget won’t match the high comprehensive policy tag, there is a middle option- Third Party Fire and Theft and Third-Party Property Damage.
Third-Party Property Damage.
This policy can otherwise be referred to as “sorry about your car.” Unlike the Third-party policy, this type of plan is not mandatory but if you are looking to avoid getting into a financial pickle.
This plan will also cover you for any damages you might have caused to someone else’s car or property as a result of an accident.
Do you remember that Range Rover we were just talking about? Your insurer will cover you for that.
But there is more. Unless you got a third-party fire and theft plan, there is still a chance that you’ll dig into your pocket after an accident.
Third-Party Fire and Theft
As the name suggests, this plan will cover you for fire and theft (which are the most common things that can happen to your car).
Third-party fire and theft policy has all the benefits of Third-Party Property Damage and some like protection against earthquakes, attempted theft, and fire.
This policy is a decent compromise for those who cannot afford the comprehensive plan but need a little more cushion than a third-party damage property policy- not too much, not too little; it’s just RIGHT.
It is important to assess your car insurance needs before you start shopping for a car insurance plan. To do this, you will need to consider:
- If you need cover for theft and fire
- Whether you can afford the cost of repairing someone else’s vehicle. If the answer is no, then you should start considering some sort of car insurance. Depending on the damage amount and the car type, repair costs can set you back thousands of shillings.
- Calculating the car value against insurance premium and excess. This will help you decide which kind of car insurance is likely to give you the best combination of value and cover.
Entreplat understands the needs, differences, and uniqueness of personal motor insurance in Kenya. Our team of insurance experts are the best in the country- they have a proper understanding of the Kenyan insurance sector.
While you can choose between Third Party and Comprehensive insurance plans, we make sure that we get the best deal for you that will cover the majority if not all of your car risks at the best price.