Motor Commercial Plus

Motor Commercial Plus

An enhanced policy designed for heavy commercial vehicles. It provides for a tracking facility as well as taking care of loan repayments while the vehicle is under repair, among other extras.

Basic cover

  • Accidental collision and/ or overturning
  • Theft
  • Fire
  • Riot Strike & Civil commotion
  • Malicious damage
  • Flood and other perils of nature
  • Third party liabilities

Benefits

Nil theft excess

Riot strike and civil commotion cover

Coverage across COMESA region

Repair facilitation within the COMESA region (Usual yellow card procedures apply)

  1. Tow the motor vehicle to Kenya  where the vehicle is a total loss or must be repaired back in Kenya
  2. Negotiate reasonable cost of repair with a repairer in the country where the accident occurred
  3. Pay cash in lieu of repairs

Higher authorized repair limit –Ksh 200, 000/-

Occupational Personal accident cover for driver and loader up to Ksh 100 000/-for death and permanent total disability

Free tracking device

Floods and other perils of nature cover

Windscreen –Kshs 30 000/-

Radio Cassette-Kshs 20 000/-

Towing limit Kshs 50 000/- (charge 10% on extra limit)

 

Benefits at an extra charge

Political Risks & Terrorism cover – 0.5% of vehicle value (single unit) and 0.3% (fleet rate)

Monthly loan repayment whilst under repair

Loss of income

Carrier’s liability

Theft by employees

Work injury benefit cover for driver and loader (WIBA)

Excess protector (material damage)

Fleet management

 

Commercial Own Goods

Basic rate single unit 5.3%

Fleet (3) and above -4.8%

 

General cartage

Basic rate – 6.3%

Fleet rate (3 units and above) – 5.8%

Minimum sum insured Kshs 2,000 000/-

a)     Loan repayment

In the event the vehicle is grounded for repairs after an accident:

  1. Excess of thirty days: rate 11% of monthly loan installment
  2. Excess of 60 days: 9% of monthly loan installment

The loan repayment period is for duration of up to 3 months

b)     Carriers Liability

Loss or damage to goods or merchandise held by insured in trust or on commission following an accident.

Limits of liability

Limit of liability ( Kshs) Annual Premium (Kshs)
Up to 500,000 12,500
Up to 1,000,000 18,750
Up to 1,500,000 28,125
Up to 2,000,000 37,500
Up to 2,500,000 42,500
Up to 3,000,000 54,250
Up to 3,500,000 63,300
Up to 4,000,000 72,300
Up to 4,500,000 81,400
Up to 5,000,000 90,400

Excess -10% of each and every loss minimum Kshs 50,000

c)      Loss of income/Consequential loss

The cover allows a sum assured to be paid to truck owners to compensate for loss of income once the trucks are involved in an accident and remains in the garage beyond the specified period while under repair.

Sum assured Kshs Deductible period Deductible period
7 days 1 month
50,000 11,700 4,550
75,000 17,550 6,825
100,000 23,400 9,100
150,000 35,100 13,650

d)     Fidelity guarantee

Loss of goods or merchandise following an act of fraud or dishonesty by an employee

The following documents are required;

  1. Certificate of good conduct
  2. Letter from Chief or previous employer
Limit Kshs Premium Kshs
Up to 500,000 10,100
Up to 1,000,000 20,100
Up to 1,500,000 30,150
Up to 2,000,000 40,200

Excess 10% minimum kshs 50,000 

e)      WIBA (2007)

Covers the legal liability under the Work Injury Benefits Act following death or bodily injury to the driver and or loader in the course of duty

Rate -14%

f)      Employers liability

Covers legal liability in the event of death or bodily injury to the driver and /or loader in the course of duty and directly related to negligence or breach of common law or statutory duty by the employer

Option A Option B Option C Option D
EL multipliers 25% 30% 35% 40%

Limits of liability

Any one person 2M 4M 6M 8M
Any one occurrence 10M 15M 20M 25M
Any one year 20M 30M 40M 50M

g)     Excess waiver

10% of own damage excess

h)     Fleet management

This service will enable the owner to monitor vehicle usage and get real time and historical information on the vehicle

Project Details

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