Motor Insurance

Third Party policy

The policy indemnifies the owner and any permitted driver in charge of the motor vehicle during an accident against their legal liability to third parties for;

• death and bodily injury
• damage to third party property
• Legal costs and expense incurred with the written consent of the insurer in defending any court proceedings arising from an event is covered under the policy.

Other

• The minimum Third Party Property Damage (TPPD) Limit is GH¢6,000 which can be increased at an additional premium.
• The limit for bodily injury or death claim is as prescribed by the CAP 2021 (Limits on Injury and Death claims).
• Personal Accident cover for the driver and mate for bodily injury or death as a result of the accident is GH¢7,000

Third Party Fire and Theft policy

The Third Party, Fire and theft policy provides all the cover provided by the Third party only policy. In addition to the third party only cover described, the insurer compensates the policyholder in the event of:

• Damage to insured vehicle and/or accessories caused by fired, lightning, explosion or self ignition.
• Damage to insured vehicle and/or accessories either during attempted theft or while it is stolen

Other

If a vehicle is damaged whilst in the hands of thieves or during attempted theft and subsequently recovered in damage state, the cost of repairing such damage would be paid for by insurers under the “theft "section of the policy even though the policy covers third party fire and theft risk only.

Comprehensive policy

Comprehensive policy provide the greatest extent of cover for accidental damage to the insured vehicle in addition to the cover provided under the third party only cover and the third party fire and theft cover.

Risk insured under this cover includes loss or damage to insured vehicle and accessories caused by or arising out of;

• Accidental collision, overturning due to mechanical breakdown, wear and tear.
• Malicious act
• Theft or burglary
• Flood, storm, hurricane, earthquake, strike, riot, civil commotion.
• Whilst in transit (including the process of loading and unloading incidental to such transit) by road, rail etc.

Other

• Cost of protection and removal of insured's vehicle to the nearest garage.
• Windscreen accidentally damaged, broken or shattered.
• Tyre replacement damaged through an accident provided the tyre was not worn out, retreaded or replaced prior to the accident.