Motor Insurance

Motor Insurance

Private Motor:

These are cars used for private and domestic purposes. They could either be a Saloon car, Wagon or Jeep.

Commercial Vehicle:

These are vehicles use by the insured for his business purpose. They could fall under the following categories;

  • Own Goods: vehicles used by the insured for his private business only and the carriage of goods belonging to the insured and his business.
  • General Cartage: These are vehicles used solely by the insured for the running of his business and for commercial activities like carriage of goods for reward.
  • Fare paying/non-faring passenger vehicle: These are vehicles used in carrying passengers from one destination to another either for the payment of fare or none. Luxurious buses, taxis fall under these categories.

Motor Cycle:

This must be motorcycle used in the running of the insured business like dispatch rider or vendor of goods.  Passenger carrying cycle is excluded.

Types of Cover

There are four different types of cover available under motor policy, these are:

Comprehensive Cover

It provides cover for the insured vehicle against the following:

  • Accidental damage to the vehicle
  • Loss of or damage to the insured vehicle by fire or theft
  • Malicious damage to the vehicle
  • Insured’s legal liability to third parties in respect of any damages to the property of such third parties and for any injury or death to the third parties arising from the use of the motor vehicle.

Third Party, Fire & Theft

This type of cover is sometimes used to cover vehicle that has highly depreciated in value. It covers the vehicle against the following:

  • Loss of or damage to the insured vehicle by fire or theft.
  • Legal liability to third parties in respect of any damages to the property of such third parties and for any injury or death to the third parties arising from the use of the motor vehicle.

Third Party Only

It covers damage to third parties property and injury or death to such third parties.

DISCLAIMER

Our attention has been drawn to the under listed advertisement published in our name and purportedly made by us. The link: here E-mail: regencyproject247@gmail.com The entire public should note that our Company is not in any way associated with the publication and will not be liable for any direct, indirect, special, exemplary or consequential losses or damages of whatsoever that may arise out of access to or transaction with the publishers or the use of the above website or any information contained in it. Our Company accepts no liability for the content of the email, or for the consequences of any actions taken on the basis of the information provided therein. Please be guided accordingly.