26/05/2021
COMPREHENSIVE MOTOR INSURANCE & FIDELITY GUARANTEE
Comprehensive motor insurance has the widest scope of cover in the motor insurance family. It covers both own risks and third-party risks. But not all own risks are covered. For instance, if your driver or domestic staff steals your car, it is not covered; you cannot claim from the insurance company.
Why? If you look at your policy, you will see a FIDELITY GUARANTEE EXCLUSION clearly stating that theft of your vehicle by your driver or domestic staff is not covered. Why this exclusion? One, to encourage car owners to do their due diligence by doing background checks before employing drivers and other domestic staff. They should also ensure that domestic staff has guarantors of fixed location. Also, profile domestic staff at the nearest police station. Two, to prevent crooked car owners from colluding with their drivers or domestic staff to defraud insurance companies by claiming the car is stolen. This information is not apparent to many car owners. That is why you should have an insurance broker guiding you.
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