By Chimwemwe Mangazi:
One of the players in the insurance industry, Reunion Insurance Company Limited, has announced a reduction of third party motor car private insurance cover to K68,570 starting August 31, 2020.
This represents a 17 percent cut on the premium when compared to the initial K82,500 customers were paying for the same cover.
The initiative comes under the My Motor third party promotion expected to run between September and December this year.
In an interview Reunion Insurance Chief Executive Officer, Dorothy Chapeyama, said despite lowering the premium cover benefits remain intact.
“Customers will be covered with K5 million for third party bodily injuries, K1 million for third party accidental damages while third party loss of use is still at K50,000.
“We will also give out branded masks to every customer who insure their vehicle with us during the promotion period to help in preventing the spread of coronavirus,” Chapeyama said.
The company’s Business Development Manager, Miller John Joshua, added the initiative is aimed at lessening the burden on its customers as people’s economic wellbeing has been impacted by Covid-19.
“We have our customers in mind, we think of car insurance as our customer’s protection from risk, this will provide gains to the customers though short-term,” Joshua said.
Third Party Insurances covers the insured from liability arising out of the damage to third party persons and injuries caused by the insured vehicle in the use for which it is insured.
This liability is the most common insurance claim as it arises out of small to medium road accidents where the insured has such as damage to property that belongs to other people like vehicles or buildings, death or injury to pedestrians or public and death or injury to passengers.