MOTOR INSURANCE

WHAT IS MOTOR INSURANCE

Motor insurance provides financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. A vehicle is any object that moves on the road from one place to another (cars, trucks, motorcycles, and other road vehicles).

Motor insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects.

COVERAGE

Motor insurance provides cover for: 

• Property - for damage to or theft of the car
• Liability coverage - for the legal responsibility to others for bodily injury or property damage
• Medical coverage - for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses

This insurance can cover some or all of the following items:

• The client party (medical payments)
• Property damage caused by the client
• The clients vehicle (physical damage)
• Third parties (car and people, property damage and bodily injury)
• Third party, fire and theft
• The cost to rent a vehicle if yours is damaged.
• The cost to tow your vehicle to a repair facility.
• Accidents involving uninsured motorists.

Different policies specify the circumstances under which each item is covered.  

According to the laws of Sierra Leone, all vehicles plying the roads must have insurance cover. Therefore, there are three (3) types of motor insurance policies offered in Sierra Leone.

THIRD PARTY ONLY

Third party only provides indemnity against liability to third parties in respect of:

• Accidental death/bodily injuries to third parties i.e. pedestrians
• Third Party Property damage i.e. other vehicles, walls, gates, fences, kiosks, etc.

The limit of liability of the client for property damage is limited to Le.1, 000,000.00 (One million Leones) whilst for death or bodily injury to third parties is unlimited. However, the third-party property damage (T.P.P.D) Limit of Le. 1,000,000.00(One million Leones) could be increased to any amount you deem fit.

THIRD PARTY FIRE AND THEFT

Third party fire and thief provides the same cover as stated in the Third Party Only cover and in addition to loss or damage to the client's vehicle as a result of fire, lightning, burglary or theft. The limit of liability of the insurers is limited to the value of the vehicle submitted by the insured less the compulsory excess.

COMPREHENSIVE

Comprehensive cover provides the same as stated in the above two insuraace covers  and in addition it also covers the following:

• Accidental loss or damage to the insured vehicle as a result of overturning
• Accidental loss or damage to the insured vehicle as a result of fire, external explosion, self- ignition or lighting or burglary, or house  breaking.
• Malicious act
• Whilst in transit
  

The insurance companies do not offer any protection for passengers travelling in the client's vehicle(s). In order to ensure that they are adequately protected, we advising you to consider taking up the Passenger Liability Extension which is 3% of the capital sum insured.