According to the law, any Kenyan who owns a vehicle must have car insurance. It is necessary to do so in order to register a car and use it to travel on public roads. Car insurance’s key responsibility is to cover owners of motor vehicles from financial loss in the event of crashes, theft, or damage to their vehicles.
Different insurance providers and brokers in Kenya offer car insurance policies. The levels of coverage for these policies often range from third-party liability to third-party fire and theft to comprehensive coverage.
The most important and required level of insurance is third-party liability coverage. In the event that the policyholder is at fault for an accident, it compensates any losses or damages brought on to third parties. Third-party fire and theft protection is an extra insurance that addresses losses or damages resulting from a fire or a theft of the insured vehicle. In addition to covering damages to the insured vehicle in the event of accidents, natural disasters, or other specified dangers, comprehensive coverage also covers third-party liability and third-party fire and theft coverage.
1. Car insurance is too pricey
Although car insurance can be expensive, it’s important to keep in mind that it can ultimately save you a lot of money. Without insurance, you would be responsible for paying the full cost of any necessary repairs or replacements for your car. In addition, a lot of insurance providers offer promotions and discounts that might help you save money on your insurance.
2. The other party’s insurance will pay for the damages if you are in an accident
The opposite is not always true. Your personal insurance coverage will pay for the damages if you are determined to be the cause of an accident. Additionally, you can still be obligated to pay out of your own pocket if the at-fault party has no insurance or insufficient insurance to cover the damages.
3. If you don’t drive frequently, you don’t need car insurance
It is untrue that if you don’t drive frequently, you don’t need car insurance. Even if you don’t drive much, you still run the danger of getting into an accident, having your car broken into, or having it stolen. Additionally, regardless of how frequently you drive, car insurance is a must.
4. Medical costs for the driver are not covered by car insurance policies
This is true. Drivers are encouraged to get a Personal Accident Cover to cover for their medical expenses.
In conclusion, car insurance is an important tool for safeguarding yourself from financial loss in the event of accidents, theft, or damage to your car. It is compulsory for all car owners in Kenya. It is important to understand the many insurance options and select a plan that best suits your needs.