19/05/2021
*THIRD PARTY INSURANCE POLICY EXPLAINED*
THIRD PARTY Motor vehicle insurance is the minimum requirement by the law for one to use motor vehicle on Kenyan roads.
It is a crime punishable by law to drive without a valid insurance policy.
This insurance policy protects motor vehicle owners against legal liability to third parties in the cause of use of the motor vehicle. It covers loss, damage, injury or death caused by the insured motor vehicle to other person or property.
THIRD PARTY is any other person outside the insurance contract. 1st party is the vehicle owner, 2nd Party is the insurance company.
A third party motor insurance policy ensures that in the event you cause an accident that damages other person's vehicle or property or cause death or injury compensation will be made by your insurance company. Legal charges that arise from the accident will also be paid. It’s good to note damage to your vehicle will not be covered unless you have COMPREHENSIVE motor vehicle insurance.
It is good to note that Third Party insurance has a limit as to how much to pay in the event of any of the above happening. In the event that the damage caused is above the limit prescribed motor vehicle owner takes care of the same.
*Death/Injury* - Ksh.3M
*Property Damage* - Ksh.5M
But what happens when you are hit by a motor vehicle get injured or your motor vehicle is damaged and has Third Party Insurance policy?
As explained above, Insurance Act allows you to claim from the insurance company of the motor vehicle that caused the damage/accident. This can be done directly, or through legal representative or through claim settlement agencies. The process varies depending on the nature of the claim .
*Should you have any enquiries, feel free to contact me*
