Assets/Property insurance
- Often faced with sudden natural hazards, such as lightning, earthquakes, storm, cyclone, typhoon tempest, hurricanes, flood and inundation or fires that cause a lot of damage, the cost of rebuilding for things you can’t afford or the cost goes up and taking out asset insurance at such a time compensates for the loss caused by such disasters.
- This insurance can also be taken for your own home, shop, and company /firm/factory.
- The insurance covers the following:
- Building
- Furniture
- Plant & Machinery
- Stock & Stock in process
- Electronic items
- Precious jewelry in the house
- Other items
Motor Insurance
- Driving a motor vehicle without insurance in a public place is a punishable offense in terms of the Motor Vehicles Act, 1988.
- Damage to one’s own vehicle by taking out vehicle insurance, in addition to the damage to the third party vehicle or property due to an accident, is also compensated by the insurance company for the death or injury of a person due to an accident.
- The following two main types of insurance are offered in motor insurance.
Own Damage Insurance
- This type of insurance is called full insurance in which an IDV (Insured Declared Value), the sum insured of the vehicle is paid as the cost by the insurance company up to that IDV. The insurance company will also pay for the damage caused to its own vehicle and the damage caused to the other party from the accident
Third Party Liability Only Insurance
- In this type of insurance, the cost of damage to one’s own vehicle is not cover by the insurance company, but the cost of the damage caused to the other party by the accident will be covered by the insurance company.
- For more details and assistance you can contact us
