Insurance Q & A with (Willie Githinji)

13/01/2017

22/11/2016

What do you know about Insurance?

It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy.

22/08/2016

Motor Insurance Claims.
Did you know that the fastest way of getting your vehicle repaired by an insurance company is once you have an accident, report to the nearest police station and request for a police abstract. By having the police involved means that the repairs of the vehicle are more than 10,000 shillings or as per the agreement you have with your insurer. Any repairs below 10,000 are sometimes very costly to you as the client. You might want to state that you have an excess protector but the insurer also needs to cover themselves of such small claims. What is an excess protector? This is a benefit that is given to clients by insurance companies at a small fee depending on the terms laid out by the insurer. This can be 0.25% of the sum assured (Price of the motor vehicle) or whichever an insurance company sees fit to charge. It is always good to have one in such cases where claims arise. Back to claims.....report the matter to your insurance directly or with the advice of your agent. Fill in a claim form and have the assessor of your insurance company value it to see how much the cost of repairs will be. Once all that is done, you can request your agent to take you to a good garage or one that you are comfortable with. Take the vehicle to the garage and inform the attendants/your agent of where the vehicle is and allow them to do the repairs. This will save you time unlike if you were to take it directly to a garage, have the insurance company call in their assessor which might take two to three days. Drive safely

04/10/2013

TERRORISM POLICY NOT COVERED IN COMPREHENSIVE AND ALL OTHER STANDARD INSURANCE POLICIES

I would like to information the General public and partakers of Insurance policies. The above statement is true kindly contact your respective Insurance Underwriters for more info.

The standard comprehensive policy generally covers only losses resulting to:

1. Accidental damage
2. Third Party bodily Injury
3. Third party property damage

However clients with this standard policy cannot be compensated in the vent of loss due to:

1. Floods
2. Typhoon
3. Malicious Damage
4. earthquake
5. Acts of sabotage
6. Volcanic eruptions

The above named are only covered in the ADVANCED COMPREHENSIVE policy.

NB: Before settling for a comprehensive cover, kindly get professional advice to be sure of it's scope and limitations.

I t is therefore safe to say most of the vehicles and business premises in the westgate terror attack will not be compensated lest they had the terrorism cover.

HAVE AN INFORMED DAY

12/06/2013

CIC Travel Insurance Policy offers the following benefits and much more Emergency Medical Related expenses Personal accident cover Reimbursement of travel and accommodation expenses incurred in the event of cancellation or curtailment of an insured tri...