Motor comprehensive insurance policy cover

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August 12th, 2021 |

A motor comprehensive insurance policy is an extensive motor insurance cover that protects the Insured against damages to their vehicle as a result of accident, fire, and loss of vehicle following theft. It also covers damages to other property to an agreed limit; such properties might include vehicles, cycles, buildings and the like which don’t belong to the Insured. It covers third party bodily injury to people injured in the accident; these can be passengers in a vehicle or others outside the vehicle.

Despite the fact that comprehensive motor insurance provides greater coverage than third-party insurance, it is not expensive. Comprehensive motor insurance coverage is the highest level of protection you can give your vehicle. It’s a step up from a standard third-party motor insurance coverage, which just protects you against the third party bodily injury. Comprehensive insurance, on the other hand, provides a broader range of benefits and services.

Benefits of buying comprehensive motor insurance

The mandatory part of third-party motor insurance coverage is included in a comprehensive insurance plan. It covers third-party death, bodily harm or property damage caused by the Insured vehicle.

A comprehensive plan covers fire-related damage to your vehicle. This plan usually covers fires caused by self-ignition, explosions, and lightning, among other things.

Imagine parking your car in a Mall parking lot and then being unable to locate it as you exit the Mall! Isn’t it going to be devastating? Car theft is covered by a comprehensive plan. In the event of car theft, you will get the vehicle’s Insured Declared Value (IDV) following the claim settlement process.

This cover is the highest level of protection you can give your car. With a comprehensive motor insurance policy, you have peace of mind that your vehicle is protected against unforeseen risks.

It saves you money in the long run. For example, to protect a personal car worth 10 million Uganda shillings, you would pay a premium of 516,440 Uganda shillings. By doing so, any insurable damages to your vehicle up to 10 million shillings will be paid when you file your claim. In addition, the same premium covers you against third party liabilities:

  • Bodily injury – 10 million (per person)
  • Bodily injury – 50 million (Aggregate)
  • Property Damage – 50 million

What is covered under comprehensive motor insurance

It is usually best to have a thorough understanding of the inclusions and exclusions specified in your motor insurance policy in order to avoid any last-minute surprises. You can read our article on “understanding your insurance policy” for more details. In general, you won’t have to worry about the following because your comprehensive motor insurance will cover them:

  • Accidental damage caused to your vehicle by falling objects
  • Damage caused by Natural disasters or severe weather
  • Fire
  • Theft
  • Vandalism
  • Third party liabilities for bodily injury and property damage caused by your vehicle
  • Damage to your vehicle caused by falling objects such as trees
  • Malicious damage or destruction of your vehicle caused by an act of civil disturbance such as riots and strikes
What is not covered under comprehensive motor insurance
  • Wear and tear of the vehicle
  • Electrical or Mechanical breakdown
  • ​Damage caused to the vehicle by a person driving without a valid license
  • Damage caused due to drunken driving
  • Damage caused due to driving under the influence of drugs
  • Loss / damage to the car caused by war, mutiny or nuclear risk
  • Theft by your own employees

The corona virus pandemic brings so many uncertainties for businesses and individuals alike such as unpredictable cash flows, client and job security, among others. This has resulted in savings being wiped away to cater for unplanned emergencies. Therefore, now is the best time to Insure and mitigate for unforeseen misfortunes that may befall your hard earned assets.

With over 39 years of experience, Statewide Insurance Company Ltd has the expertise to ensure that all your motor insurance needs are met to your satisfaction. Contact us on mail or in the chatbox to get a quotation or more information about this insurance policy.