Different insurance firms in Kenya offer three primary categories of motor insurance coverage. These include comprehensive insurance, third-party fire and theft, and third-party insurance covers.
Before utilizing your car on Kenyan public roads, you ought to acquire insurance cover. In this sense, drivers are constantly looking for the most affordable auto insurance cover to meet their individual requirements.
In-depth discussions of the three types of vehicle insurance cover will be covered in this article, along with several strategies for obtaining a more affordable choice.
You can use the insurance cost calculator we’ve supplied to figure out how much premium you need for your vehicle, whether it’s comprehensive or third-party.
Get an Insurance Cover for your car in less than 20 Minutes
Take advantage of Kenya’s lowest rates on car insurance right now. To determine the required amount of premium for your car, use the online calculator for insurance that is supplied in this article. Additionally, you can order and have your cover delivered in 20 minutes.
Comprehensive Insurance
Comprehensive insurance provides all-inclusive cover for a vehicle against many calamities, including accidents, theft, fire, riots, and natural disasters like floods. It also covers third-party liabilities, such as injuries, fatalities, and damage to other people’s vehicles or buildings.
Because of its comprehensive coverage, this plan is a popular choice among car owners. The supplemental coverages offered by various insurance firms are connected to their full insurance plans in different ways. Among other things, these covers include protection against glass damage, radio, windscreens, and excess waiver.
The price of comprehensive insurance coverage will therefore differ depending on the insurer. When the car has been valued, the cost is typically determined using that value.
The allowed rate for comprehensive insurance is typically 7% of the car’s value; however, this can be as low as 3.5% depending on the insurer.
Okay! How can one obtain optimum benefits from low-cost comprehensive insurance coverage? Here are some pointers to help you accomplish this.
Tips on Getting Cheap Motor Comprehensive Insurance Cover
- Choose the insurance provider of your choice – There are numerous motor insurance carriers in Kenya at the moment; to assist you in making the best decision, we have put together a list of the top suppliers.
- Use an insurance broker or agent – After you’ve chosen your preferred insurer, find one of their top brokers or agents. Special prices are offered to top-performing brokers or agents, which they then pass along to their clientele. Thus, using an agent or broker rather than going straight to the business will result in a better deal. Second, should a claim arise, the agent or broker will pursue the matter on your behalf. Due to their significant revenue contribution to the organization, these agents receive preferential treatment, and as a result, their clients’ problems receive the highest priority.
- Put a tracking device or anti-theft gadget on your car – If you suffer a loss as a result of theft, you will typically have to pay a fee before your claim can be handled. We refer to it as the extra fee. This normally allows the insured to take on a tiny amount of the risk on their own. If your car has an anti-theft device installed, you will have to pay less excess; if it has a tracking device installed, the excess will be even less. Insurance companies reward installing these devices on your car with lower excess percentages because they help deter theft and aid in recovering the vehicle in the event that it is stolen. Dashcams may perhaps be added to this list.
- Pay the premium over time – Instead of paying the entire amount at once, most insurance providers allow you to spread out your payments over a number of months.
- Keep up a clean driving record – Insurance companies frequently provide drivers with a clean driving record discounts. This implies that you ought to make an effort to stay away from collisions, moving infractions, and any other driving infractions that can harm your driving record.
These are just a few strategies you can employ to find affordable full-coverage motor insurance in Kenya.
It’s crucial to remember that in Kenya, comprehensive insurance is only available for cars under the age of 15. The insurer may choose to deviate from the guideline in specific cases, like as when the car is highly valued; this is not a hard and fast rule.
Comprehensive Motor Insurance Cost Calculator
You may determine the amount of premium needed for your car using the extensive insurance cost calculator below. You can also place an order and get your insurance coverage in 20 minutes.
An annual premium will be the one that is computed. A sales person will get in touch with you after your order is placed and offer advice on how the total can be paid for in three payments.
Please include a phone number where someone may reach you while completing the contact form. Additionally, be aware that payment must be made before your cover is processed.
Third-Party Fire & Theft
Just as the name implies, third-party fire and theft insurance protects the car against theft or fire damage, as well as against harm to other people’s cars or property.
Because it only covers a portion of what is needed, this insurance is not very popular in Kenya. Following the completion of the valuation, the cost is also determined using the car’s worth. 5% is the industry standard.
We’ll tell you straight up: if you can afford to pay a premium that equals 5% of your car’s worth, you should definitely purchase comprehensive coverage. Since that’s a lot of money to spend for only partial coverage, let’s face it.
Third-Party Insurance
This type of motor insurance known as third-party insurance pays for harm done to other people or their property as well as injuries sustained by the covered car. Kenyan laws require this insurance, which is intended to shield uninsured persons from any harm the covered vehicle may do.
This implies that in the event of an accident, your insurance will only cover losses incurred by the other party, property damage like buildings, or injuries sustained by third parties, not you or your vehicle.
Since this coverage is required by law and is standard for cars older than 15, it is well popular in the Kenyan market.
Not only that, but third-party insurance is also among the least expensive policies on offer in Kenya right now. Depending on the insurer, the price typically ranges from Ksh 5,000 to Ksh 10,000 annually. Interestingly, the annual premium can also be prorated, with payments starting at Ksh 1,500 per month, and paid over a longer period of time.
But wait, there’s more! This gets better. One-month third-party insurance coverage, also referred to as TOR or Time On Risk insurance coverage, falls under the category of third-party insurance coverage.
One Month Third Party Insurance Cover
This cover provides third-party coverage for a period of one month. It is popular by Kenyan car owners who merely require short-term, temporary insurance coverage.
Situations where TOR insurance would be necessary include taking your car to the shop for a major repair, intending to sell it within the month, or not using your car frequently enough to require coverage for the few days that it is used.
Depending on the insurer, a one-month policy for third-party insurance in Kenya can cost anywhere from Ksh 1,500 to Ksh 2,000, making it arguably the least expensive kind of auto insurance in the nation.
Third-Party Motor Insurance Cost Calculator
4 Steps On How To Use The Insurance Calculator Below
- Determine the necessary premium by considering the kind of coverage you desire. Below the calculator, the entire sum will be displayed.
- The following paybill, Paybill Number: 444174, Account: 001057, should have the premium as mentioned paid.
- Click the “Make order” button to finish the order after entering the M-pesa Ref number in the required section.
- Make sure you enter the accurate insurance information. In twenty minutes, the cover will be ready and forwarded to your email or WhatsApp.
“Calculator”
How to Choose the Cheapest Car Insurance in Kenya
When selecting an insurance policy, you will be guided by two primary factors:
- Type of Cover
- Vehicle Age
Type Of Cover
Determine the benefits you wish to have attached to your motor insurance policy before purchasing it.
Comprehensive insurance is the best option if you require complete coverage; otherwise, you may utilize the aforementioned advice to choose a low-cost solution with the greatest possible benefits.
Third-party fire and theft insurance is the best option if you only need partial coverage. If merely the bare minimum is required, then third-party insurance coverage will suffice.
Age Of Vehicle
In Kenya, a vehicle must be at least 15 years old to qualify for comprehensive motor insurance coverage. After that, the insurer will decide which vehicles qualify for third-party coverage, with some exclusions.
Verdict
Every one of these insurance plans offers a unique set of advantages.
In general, and taking Kenyan consumer preferences into account, comprehensive insurance is a popular choice among many vehicle owners.
Third-party insurance, however, is the least expensive type of vehicle insurance that is currently offered in Kenya and is also the bare minimum required by law.
Having said that, everyone has different wants and tastes, therefore our specialists can advise you on the appropriate insurance coverage based on your particular circumstances. For a free consultation with our in-house insurance specialist, contact us right now.
Frequently Asked Questions and Answers
What is the price of third-party insurance in Kenya?
Depending on the insurer, third-party insurance in Kenya might cost anywhere from Ksh 5,000 to Ksh 10,000 a year.
What is the comprehensive insurance price in Kenya?
After the car has been valued, the cost of comprehensive motor insurance is determined using that value. The industry-approved cost is 7% of the vehicle’s value, however the insurer may set a lower premium of 3.5%.
Can I get insurance for a car for one month?
Absolutely, a one-month third-party insurance policy is offered by some insurance companies. The price is between Ksh 1,500 and Ksh 2,000.
