What
is the Excess or Deductible?
The excess (deductible) is that portion that the Insured pays in each and every claim.
The Insurance Company will pay amounts in excess of this figure to a maximum of the sum insured.
No excess is applied to claims made for damage as a result of fire.
In respect of theft, certain specified vehicles are subject to an excess.
What is Third Party Insurance?
If you negligently cause injury to or
damage the property of other motorists, pedestrians, passengers, etc., you will have a legal liability.
Third Party Insurance relieves you of this liability by paying these claims on your behalf.
What is Comprehensive Insurance?
A Comprehensive policy covers your vehicle against loss or damage by collision, fire, theft or malicious acts.
Also covered are extra perils (for example, acts of God such as flood, hurricane etc.).
Comprehensive Insurance also covers your liability to a third party in the event of an accident.
Who can drive my vehicle?
If you have 'Open Driving' on your policy, any licensed driver is insured to drive your vehicle with your permission.
If the driver is under the age of 23, or has been licensed for less than 12 months, an additional excess will be charged. Please note that if any member
of your household is under 23 or has been licensed for less than a year, we need to know about it before you allow them to drive your car. You can also
buy a 'Restricted Cover' policy, which limits you to two named drivers, for a discounted premium.
What is a No Claim Discount?
This is a discount that you can earn for not making claims under your policy. Provided you do not claim on your policy
this discount will increase at each renewal up to a maximum of 60% after five (5) years. If a claim is made, your discount will be reduced, but can be
reinstated if it is proven that you were not at fault, and we are able to recover your losses from the third party's insurer.
If I am insured under a private motor cover, can the vehicle be used for business?
The vehicle can be used for your business purposes provided we are informed of the change in use. This may attract an
additional premium.
Is there a "grace period" for my motor policy?
There is no "grace period". Your cover expires on the date stated on your Insurance Certificate.
If my windscreen is damaged, will a claim affect my no claim discount?
If there is breakage of glass but no other damage to the vehicle, your policy covers you up to a specified amount.
Claiming will not affect your no claim discount nor will it be subject to an excess.
Are accessories like CD players covered by my motor car policy?
If you have Comprehensive cover, factory accessories are included in the cover.
If you have an after-market stereo, rims or other accessories, you should let us have a list of the accessories and their cost at the time you are taking out the insurance.
Without such a list, if you suffer a loss you may only be entitled to the cost of standard equipment.
Why do I need an annual valuation for my vehicle?
The value of your car changes over time (it normally depreciates). In the event of a total loss, the amount paid by the company
will be the value of the vehicle immediately prior to the accident, or the sum insured - whichever is less. For example, if you buy your car in 2006, and it is written
off a year later, the value is likely to be less than what you paid for it. Annual valuations help us to ensure that your policy is kept up to date with these changes in value.
What is the difference between a valuation report and an engineer's report?
A valuation report establishes the value of the vehicle and an engineer's report speaks to its general condition and roadworthiness.
Is my motor vehicle insured while it is being serviced?
Yes, it is covered whilst it is in the custody of a motor trader.
Am I protected by my insurer when I drive a rented car?
Your insurance does not cover you to drive a rented car. Rental Car companies will normally provide insurance and charge it in their rates.
If I have restricted cover (named driver/s), in the event of an emergency, if someone who
is not named drives the car, am I covered?
No. A claim will only be paid if named driver/s are driving the vehicle.
If I lend my car to someone, are they covered?
As long as they have a valid driver's licence your car would be covered. Limitations in respect of excess (deductible) would apply if the driver
is under age or have had their driver's licence for under 12 months. Also the cover would only be applicable while the car is being used for Social, Domestic, or Pleasure purposes.
If I own a home and it is rented to tenants, can the occupants insure their personal effects?
Yes. Your tenants are free to insure their contents.
Why do I need to insure my property at replacement value?
If you insure your home for less than the full replacement value, in the event of a partial loss you would be subjected to the CONDITION OF AVERAGE.
Under this condition if you have a claim for partial loss, what you would receive from the Insurance Company would be the same percentage of your loss as your sum insured is to the true
replacement value, minus any excesses that are applied under this policy. E.g. your sum insured is 60% of the replacement value, you would be paid 60% of the loss, minus the excess.
What is the difference between "Market Value" and "Replacement Value"?
"Market Value" is based on what a willing purchaser would pay a willing vender. This value could fluctuate significantly depending on the state of the
economy, the housing market etc. "Replacement Value" is what it would cost to rebuild your house.
If my home is rented to third parties, does it attract an additional premium?
No. However, if you have rented your home fully furnished and have the contents insured with us, we will need to be informed of this and to have
information on your tenants.
What is included under Homeowners Insurance?
Homeowners Insurance covers loss or damage arising from a variety of "Perils" such as fire, hurricane, earthquake, windstorm, flood, impact,
burst pipes etc. It also includes cover for your liability to third parties in the event of your negligence. Please consult us or your broker/agent for full details.
What about my furniture, appliances and other possessions?
You can include the Contents of your home in your policy. They will be covered against the same range of perils and also theft.
Please note that theft cover is only available for items contained inside buildings.
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