This is a compulsory insurance for all vehicle owners. Under this motor insurance policy, the insurer covers only death and bodily injury to third parties, including the passengers. In other words, this type of motor car insurance doesn’t cover damages to property or vehicle. It also doesn’t cover accidents that occur within private compounds. Vehicle [...]
First, let’s look at why the MIB was set up. Its main purpose is to handle motor claims in cases where (1) the negligent driver cannot be traced/located, (2) the negligent driver possess an invalid motor car insurance policy, or (3) the negligent driver is not covered by any auto insurance at all. Under the [...]
Excess is included in a private motor insurance to deter motorists from making small claims. Excess is the initial amount of any claim that the auto insurer will not pay. In other words, the car owner has to bear this cost. For example, if the cost of your claims amount to $2,000 and the deductible [...]