Below is a list of some of the factors to consider before selecting a car insurance cover in Kenya and some of the best motor insurance companies in Nairobi.
The insurance industry is a competitive one. There are many companies that offer motor insurance policies which makes it difficult to make the right choice. The following is what to look for when choosing the best policy for your motor vehicle.
Car Insurance Rates
Compare the quotes of different insurance providers. Keep an eye out for those who give low rates and verify whether they are able to meet the claims of their customers. It is also advisable to negotiate rates with potential insurers if you have several cars. Use insurance rates calculators available online to calculate rates.
Reputation of the Insurer
Research on how long the insurer has been in business and their market share. You should go for recognized insurance companies which we have recommend below. You put yourself at risk when you go with an insurance provider who is not well known and the company ends up going bankrupt or disappearing from the market.
Insurance customer support
Research on the effectiveness of the customer service staff and how long it takes the insurer to process claims. Some companies are known to take long to process claims while others are known for their fast turnaround times. Steer clear from companies that have a thick red tape when it comes to dealing with claims.
Reward Schemes
There are some companies that provide motor policies that reward customers who are less prone to damage and accidents. Insurers with excellent credit ratings are the ones to watch out for when it comes to reward schemes.
Excess Charge
Insurance companies will pay a portion of the loss that an insured pays for. This makes the insured more responsible when driving and minimizes the losses of the insurance company for reckless accidents. Make sure you inquire how much the company will be paying in such situations.
Read the Contract
Before you settle on an insurance company, make sure you are familiar with all their terms and conditions. You may need to have a lawyer by your side to understand these elements. Only sign the final print when you are comfortable with all the provisions therein.
List of Best Car Insurance Companies
The best four car insurance companies in Kenya are:
- AIG Motor Insurance
- CIC Car Insurance
- ICEA Lion Motor Insurance
- APA Motor Insurance
Important! If you want a motor insurance cover, visit any of the recommended insurance companies yourself to get first hand information from the company itself. Some Insurance Agents are not honest. If you took a car insurance cover with an agent or broker who turns out to be a con man you can report the agent to Insurance Regulatory Authority (IRA).
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