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BUSINESS and ECONOMY / MOTOR INSURANCE POLICY
« on: August 29, 2018, 04:12:10 PM »
The fact that this business is being underwritten under the tariff regulations makes it an easy task for the underwriters.
This can be classified into the following headings:-
PRIVATE CARS
COMMERCIAL MOTOR VEHICLES
Own Goods
General Cartage
Fare paying and Non-Fare paying Passenger Vehicle
MOTOR TRADE
AGRICULTURAL & FORENSIC VEHICLES
SPECIAL TYPES E.G. AMBULANCES
MOTOR CYCLES
The underwriters are however required to study the tariff carefully and ensure that they keep within the requirements of the tariff.
TYPE OF COVER
The type of cover granted under this heading are: -
Comprehensive
Third Party Fire & Theft
Third Party Only Act Only
COMPREHENSIVE COVER:-
This is the standard form of cover which include indemnity for loss of or damage to insured vehicles, liability for death and injury to third parties or damage to their property. The rate is 10% of value.
THIRD PARTY FIRE AND THEFT
This cover provides indemnity in respect of legal liability for damage to or death and injury to third parties. It also includes cover for the Insured ?s vehicles for fire and theft. This policy is not issued by the company. The rate is 60% of comprehensive value.
THIRD PARTY ONLY
This cover provides indemnity for legal liability for damage to third party property plus liability for death or bodily injury to third party. The premium is N5,000 flat for private cars.
DRIVER?S ACCIDENT INSURANCE
The driver?s Accident Insurance Policy provides financial relief to next of kin of any Insured person or driver who is killed as result of motor accident while driving on public roads.
THE INSURED
Any person or persons licensed to drive a vehicle on Road in Nigeria is entitled to purchase the Driver?s Accident Insurance. Professional Driver?s Owner-drivers etc are all eligible to buy the policy against death, permanent or temporary disablement resulting from accident or through settlement of medical bills to an agreed amount.
COVER REQUIRED
The policy shall provide financial relief on the happening of the following events:-
Death
Permanent or total disablement resulting in total paralysis
Injuries causing permanent total disablement
Medical expenses incurred in the treatment of bodily injury or illness sustained as a result of accident. KINDLY CALL YOUR INSURANCE OFFICER 08032009273 , 08185411815
This can be classified into the following headings:-
PRIVATE CARS
COMMERCIAL MOTOR VEHICLES
Own Goods
General Cartage
Fare paying and Non-Fare paying Passenger Vehicle
MOTOR TRADE
AGRICULTURAL & FORENSIC VEHICLES
SPECIAL TYPES E.G. AMBULANCES
MOTOR CYCLES
The underwriters are however required to study the tariff carefully and ensure that they keep within the requirements of the tariff.
TYPE OF COVER
The type of cover granted under this heading are: -
Comprehensive
Third Party Fire & Theft
Third Party Only Act Only
COMPREHENSIVE COVER:-
This is the standard form of cover which include indemnity for loss of or damage to insured vehicles, liability for death and injury to third parties or damage to their property. The rate is 10% of value.
THIRD PARTY FIRE AND THEFT
This cover provides indemnity in respect of legal liability for damage to or death and injury to third parties. It also includes cover for the Insured ?s vehicles for fire and theft. This policy is not issued by the company. The rate is 60% of comprehensive value.
THIRD PARTY ONLY
This cover provides indemnity for legal liability for damage to third party property plus liability for death or bodily injury to third party. The premium is N5,000 flat for private cars.
DRIVER?S ACCIDENT INSURANCE
The driver?s Accident Insurance Policy provides financial relief to next of kin of any Insured person or driver who is killed as result of motor accident while driving on public roads.
THE INSURED
Any person or persons licensed to drive a vehicle on Road in Nigeria is entitled to purchase the Driver?s Accident Insurance. Professional Driver?s Owner-drivers etc are all eligible to buy the policy against death, permanent or temporary disablement resulting from accident or through settlement of medical bills to an agreed amount.
COVER REQUIRED
The policy shall provide financial relief on the happening of the following events:-
Death
Permanent or total disablement resulting in total paralysis
Injuries causing permanent total disablement
Medical expenses incurred in the treatment of bodily injury or illness sustained as a result of accident. KINDLY CALL YOUR INSURANCE OFFICER 08032009273 , 08185411815