MOTOR INSURANCE
Classification of Vehicle Types
Private Cars : vehicles used by insured (Individuals or Corporate Organizations) for private & personal purposes
.
Commercial Vehicles: vehicles utilized for commercial purposes e.g. goods carrying vehicle or for hire/reward.( Taxis, Mini buses and luxurious buses)
.
Motor Cycle/Tricycle
Special type: vehicles which are built for specific /specialized purposes(tractors, bulldozers and related vehicles).
TYPES OF COVER
1. Third Party Only
2. Third Party, Fire & Theft
Our focus today will only be on the THIRD PARTY ONLY
THIRD PARTY ONLY
Covers the insured in respect of his legal liabilities for:
i. Damage to third party property
ii. Injury or death to such third parties.
BENEFIT
*Takes care of insured’s legal liabilities to third parties in the areas of injury, death and property damage.
*Medical Expenses to a verifiable and reasonable amount is taken care of.
TERMS & CONDITIONS
General terms and conditions of the policy with emphasis on the following:
*Observation of general principles of insurance in the area of Insurable interest and Utmost good faith.
*The insured shall at all times behave as if he was not insured thereby exercising due care in all his driving activities.
Contact us for more information.
+2347034720537
No comments:
Post a Comment