Motor Insurance

Basically the statutory requirements for motor insurance cover is to make provision against the liability of the owner towards the third party in the event of injury caused to the latter and damage to other people’s property. This is the “THIRD PARTY COVER” But in addition to the third party cover, it is prudent to make provision for loss or damage to owned vehicle arising from fire, theft or accidental damage. Such insurance is provided by a “COMPREHENSIVE COVER”. However cover can be arranged for Fire, Theft and Third Party Liability without making provision for accidental damage to owned vehicle. This is called “THIRD PARTY, FIRE AND THEFT COVER”. The following information will be used to write the risks;

1. The make of the vehicle
2. Market value of the vehicle
3. Registration number of the vehicle