Most insurance companies in Kenya provide insurance cover for motor vehicle owners in Kenya. This insurance covers risks that motor vehicle owners may incur resulting in losses or damages. Common motor vehicle insurance provided by most motor vehicle insurance companies include; Comprehensive insurance cover, third party insurance cover and fire and theft insurance cover.
You need the best insurance cover for your motor vehicle in Kenya, this will ensure that should you incur any risk or damages, your insurer will cover the damage costs as per your cover policy. One ought to be careful as there are many rogue insurance companies that are good at getting away when it comes to compensation.
What is the difference between different motor vehicle policies;
Comprehensive Insurance: Comprehensive Insurance covers vehicle occupants as well as losses related to accidents such as repair costs and write-offs.
Third-party Insurance: Third-party Insurance is the list of Insurance that only covers liabilities to 3rd parties. These are losses caused by the insured vehicle to other people’s lives or property.
Fire and Theft Insurance: This insurance cover is against losses incurred either through fire or theft of motor vehicle. The advantage of this policy is that it also covers 3rd parties.
Top 10 Best Insurance Companies in Kenya
Xplico Insurance Company
Xplico Insurance provides insurance solutions to individuals and businesses including the SME sector and the larger corporate market in both Kenya and the wider East African region. With a team of experienced local and international staff, the Corporate Division provides tailor-made insurance policies created to protect your business or property and advise you on market trends and new products.
Directline Assurance Company Limited
Directline Ansurance provides insurance cover for Public Service Vehicles (PSV), Commercial Motor, Private Vehicles, and Taxi to protect their clients from any liability incurred by use of the motor vehicle. The two main types of Insurance Policies they offer are Third Party Only (TPO) and Comprehensive Cover.
GA Insurance Kenya
GA Insurance Company provides both third party and comprehensive insurance for both commercial Motor vehicles, motor trade insurance and Motor Cycle Insurance. GA Insurance Limited is one of the oldest insurance companies operating in Kenya underwriting all classes of general and medical insurance. In 2006, the company was acquired by the promoters of I&M Bank Group in Kenya.
APA Insurance Limited
APA Motor insurance protects the insured against loss if the motor vehicle insured is involved in an accident, burnt, stolen and third party liability arising from use of the insured motor vehicle. Their products include comprehensive Insurance cover, Third Party Fire and Theft and Third-Party Insurance Cover.
Invesco Assurance Ltd
Invesco Assurance has quite a range of policies that covers motor vehicle owners. Among their motor vehicle types covered under their insurance include, PSV Matatu, Commercial Vehicles, Private Cars, and PSV Taxi. They offer both Third-party and Comprehensive Insurance covers. The company is licensed to transact all lines of general insurance business. INVESCO Assurance has its headquarters in Nairobi and 27 Branches countrywide.
INVESCO is proud of its leadership in providing PSV insurance solutions to a countrywide customer base.
CIC General Insurance Ltd
Started as a department of Kenya National Federation of Cooperatives (KNFC) in 1968, CIC company has since become a leading cooperative enterprise and micro-insurer in Africa, with three subsidiaries in Kenya, namely CIC General Insurance Ltd, CIC Life Assurance Ltd, and CIC Asset Management Ltd. The group has a regional footprint with a presence in South Sudan, Uganda, and Malawi
The company provides various insurance covers among then motor vehicle insurance comprehensive and third-party insurance. With CIC you can also insure your vehicle against theft and fire.
First Assurance Company Ltd
First assurance has a well-structured motor vehicle insurance cover called First Auto Motor Insurance. This policy covers loss or damage to the vehicle and its accessories including legal liability to third parties and passengers in respect of death or bodily injury arising from the use of the motor vehicle. The following risks are covered: Accident damage, Riot and strikes, special perils eg flood, typhoon, hurricane, earthquake and volcano eruption.
Fidelity Shield Insurance Company Ltd
Fidelity Shield Insurance Company Ltd began operations in 1940 and grew to become one of the respected insurance companies in Kenya. Its age in the Kenyan insurance sector makes it one of the oldest and hence most experienced firms in the insurance sector in Kenya.
With fidelity insurance, you can get a third party or comprehensive insurance cover.
Jubilee Allianz General Insurance Ltd
Allianz, one of the world’s leading insurers and asset managers has become the majority shareholder in Jubilee General Insurance Limited in Kenya. This follows the acquisition of a 66 percent stake in the company, representing 1,522,622 ordinary shares, from Jubilee Holdings Limited (JHL), East Africa’s largest insurance group who is retaining 34 percent shareholding in the company.
Occidental Insurance Company Ltd
Occidental insurance provides exemplary and efficient services in the insurance sector at the most reasonable prices. They offer insurance policies for vehicle owners such as third –Party cover, comprehensive cover and theft and fire cover.
Other notable motor vehicle insurance companies in Kenya include;
- Madison General Insurance Ltd
- Britam General Insurance Company Ltd
- Kenya Orient Insurance Ltd
- Mayfair Insurance Company Ltd
- MUA Insurance Kenya Ltd
- Geminia Insurance Company Ltd
- AIG Kenya Insurance Company Ltd
- African merchant Assurance Company
- Intra Africa Assurance Company Ltd
- Metropolitan Cannon General Insurance Company Ltd.