General insurance Motor Insurance

[Mataracy]

For the purpose of motor insurance, motor vehicles are divided into five classes:

i. pivate Car Insurance e:-
This relates to private cars used for social and domestic purpose

ii.Commercial vehicle insurance:-
This includes vehicles used fir commercial purposes e.g. taxis, vans, lorries etc.

iii. Motor cycle insurance

iv . Motor trade insurance:-
This includes those selling cars, mechanics etc.

v. Special types:-
This includes agricultural vehicles,mobile cranes, bulldozers etc.
Motor vehicles can be arranged under four (4) types of polices or Insurance cover.

1. Act Only Policy
This policy is designed to meet the minimum requirement of motor insurance. It provides cover against liability for injury or death of the third party arising from the use of motor vehicle.

2. Third Party Policy:-
This is addition to cover provided under Act policy. It covers the insured's liability to third party for damage caused to their property as a result of the use of motor vehicle.

3. Third Party Fire and Theft:-
This provides wider cover than the third party policy, this policy indemnifies the insured if his property is damaged or destroyed due to the peril of fire or loss or damage when it is stolen. So the third party and Act only policies only cover the insured's liability.

4. Comprehensive Policy:-
This policy provides cover for accidental damage to the vehicle in addition to the cover provided under the previous three policies above.

This is a little I can say about Fire insurance. You own idea is welcome. What can you say about this?

 

[Augusta]

Your last line is confusing fire or car insurance. Please correct that. Yeah car insurance is very important to me because anything can happen when it comes to a vehicle. Having at least a comprehensive insurance in place will help the car owners and even the third party involved too

 

[Mataracy]

Your last line is confusing fire or car insurance. Please correct that. Yeah car insurance is very important to me because anything can happen when it comes to a vehicle. Having at least a comprehensive insurance in place will help the car owners and even the third party involved too

Am sorry bro its Motor Insurance. I would have done that its a typographical error. I wanted yo correct but I don't know how to go about it. And according to what you said it necessary to insured one car because at any time it car get accident though no body pray for that but yet since every thing in life is risky.

 

[Mataracy]

For the purpose of motor insurance, motor vehicles are divided into five classes:

i. pivate Car Insurance e:-
This relates to private cars used for social and domestic purpose

ii.Commercial vehicle insurance:-
This includes vehicles used fir commercial purposes e.g. taxis, vans, lorries etc.

iii. Motor cycle insurance

iv . Motor trade insurance:-
This includes those selling cars, mechanics etc.

v. Special types:-
This includes agricultural vehicles,mobile cranes, bulldozers etc.
Motor vehicles can be arranged under four (4) types of polices or Insurance cover.

1. Act Only Policy
This policy is designed to meet the minimum requirement of motor insurance. It provides cover against liability for injury or death of the third party arising from the use of motor vehicle.

2. Third Party Policy:-
This is addition to cover provided under Act policy. It covers the insured's liability to third party for damage caused to their property as a result of the use of motor vehicle.

3. Third Party Fire and Theft:-
This provides wider cover than the third party policy, this policy indemnifies the insured if his property is damaged or destroyed due to the peril of fire or loss or damage when it is stolen. So the third party and Act only policies only cover the insured's liability.

4. Comprehensive Policy:-
This policy provides cover for accidental damage to the vehicle in addition to the cover provided under the previous three policies above.

This is a little I can say about Fire insurance. You own idea is welcome. What can you say about this?

Please the last statement there is a mistake its Motor insurance nof Fire insurance. Thanks

 

[Mandy96]

Wow, so motor insurance is also divided into som parts, so I guess this means that each insurance under motor insurance has its own insurance policy. So this simply means that an individual intending to subscribe to motor insurance will have to be specific about the exact type of motor insurance he or she really wants.