Universal Galaxy Insurance Brokers Limited

Universal Galaxy Insurance Brokers Limited UGIBL assists prospective insureds with developing risk management strategies appropriate to their risk profiles.

Insurance brokers assist prospective insureds with developing risk management strategies appropriate to their risk profiles.

27/06/2013

Carrie Underwood: My solution for surviving Ugandan traffic
May 27, 2013 by Adam Calaway

Driving in Ugandan traffic will change your life; mostly because you’ll constantly see it flash before your eyes.

Imagine this: Take the majority of Kampala’s 1.7 million people and put half of them on road – in one form or another – at the same time.

Now, take away all road signs, traffic signals and directional markings. They have a few, but they’re more for decoration.

Subtract the grid layout of the United States’ roads and highways. Most roads in Kampala go in circles. If you look at a map of Kampala, it looks like a spider’s web, overlaid by another spider’s web.

Now decrease the width of the roads and increase the number of lanes – two lanes become three or four, four lanes become 26 (that might be an exaggeration). In fact, just erase any lane lines because they are irrelevant.

Here would be a good point to define “roads.” Ugandan roads are anything that is passible, no matter the depth of the canyon-esque potholes. Sure many are blacktops like the U.S., but others are dirt roads, trails, or walking paths. If it’s wide enough, it can be driven on.

Now add in thousands of boda-bodas (motorcycles/scooters, often used as taxis) that weave through the larger vehicles like they are chasing James Bond in the beginning of a movie.

On a side note: bodas are border line magic. I have seen people haul an entire family of four, tin roofing and hundreds of pounds of fruit. Others have actually seen coffins (with the body) tied to the back. All this defies the laws of physics but no one seems to notice.

Now add in the pedestrians, thousands of pedestrians either manning their roadside stores or standing inches from the edge of the road as countless rearview mirrors whiz by their head. This includes children, who learn from an early age to be mindful of the roads.

Then there is the rate of motion. Kampala traffic has two speeds – warp and gridlock. Basic rule: You go as fast as you can for as long as you can, and then usually you hit traffic or speed humps (not bumps) to slow you down. And speed humps are everywhere.

Undoubtedly this traffic takes the blue-ribbon for one of the most challenging driving setting on the planet. It certainly tops any city in the United States. But, Adam, you say, I’ve driven in Los Angeles (not even close), Chicago (pansies drive in Chicago), New York City (Quit. You’re embarrassing yourself).

At first blush anarchy does seem to rule the road here, but once I erased my expectation, a new pattern emerged. Instead of a highly regimented systems of lights and signs, Kamapla traffic flows like blood through arteries. It’s jumbled, messy, crossing down every which path, but still flowing and natural. Most importantly, despite the chaotic feel for visitors, the Ugandans are relaxed and calm. There is no such thing as road rage or fear.

I am not a Ugandan, however. I flinch. I gasp. I spend most of the car rides quietly singing “Jesus take the wheel” by Carrie Underwood.

On the other hand, Simon, our driver for most of the week, has no reaction as he navigates clogged byways; dodges bodas, potholes and pedestrians who often run across the highway; and weaves through the endless back roads. His intuitive navigation skills and steely nerves are a sight to behold.

I’ve decided I’m going to bring Simon, Joe and a handful of Kampala’s taxi drivers back to the United States and start a NASCAR team. I’d win every race.

Of course, they would probably be bored driving on a smooth road, in a circle, at only 200 miles per hour.

A few rules of the road:

You’re not “close” to something until you hit it with your rearview mirror.
Right-of-way belongs to the largest vehicle.
Pedestrians do not have the right-of-way. They have the right to get out of the way.
Taxis are everywhere. They are usually white minivans circled with blue checkers.
Honking your horn is not a sign of frustration. It just means, “Hey, I’m coming through. Push over.”
Flashing your lights does not mean there is a police officer ahead like in the U.S. It simply means, “I’m coming through” or “I see you. Do you see me?

26/06/2013

There are Two Kinds of Auto Insurance Buyers. Which Kind Are You?

One of the dirty little secrets of the auto insurance world is that there are two types of customers; savvy ones who pay rates considerably below the norm, and those who get a quote from just one company and end up paying way more than they need to.

If you’ve been casually following the news about the auto insurance industry over the past few years, you could be forgiven for believing that rates have skyrocketed and continue to climb. The real story is that, as a result of relentless consumer and regulatory pressure on insurance companies, auto rates in many cases have actually dropped. Of course, don’t expect your insurance company to let you know you could be getting coverage for less.

Of all the monthly expenses that can be reduced with some time and effort, auto insurance tops the list. But, of course our time itself is worth money. Often, we don’t take the time to research if we could be getting a better deal. It’s a tradeoff between perhaps paying more and spending hours of our time getting quotes from multiple insurers.

But, here’s the kicker: When it comes to auto insurance, the savings to be had by doing a little comparison shopping can be huge – often hundreds, if not thousands of shillings!

More importantly, new online services now make it remarkably quick and easy to get multiple competitive quotes, so that you can easily find the lowest quote for you.

One of the best of these free new services is called Bankrate Insurance, which is remarkably fast and easy to use. Just input your information on their website and they will provide up to four of the lowest rate quotes from top-tier insurance companies for you to compare. Most people are amazed by the huge differences between the quotes and their current coverage.

Bottom line: It makes it simple to find significant savings fast. And, contrary to what many people believe – it’s easy and cost-free to change insurance carriers anytime. Consumers are never locked into a policy for any period of time.

So, if you think that saving hundreds of shillings immediately with minimal effort is a smart move, check out Bankrate Insurance.

25/03/2013

Kampala Auto Insurance FAQs

What is auto insurance?

Insurance is a contractual agreement between an insurance company and an insured, which, in exchange for a premium, provides financial protection for risks associated with driving or owning an automobile.

What is the policy?

The insurance contract is called a policy and includes three distinct parts. First, the Declaration Page that lists what coverages are in effect and the dollar amount of coverage. Second, the Text of the contract that tells you who and what is covered and not covered. Third, the Endorsements section of the contract that changes, limits or modifies the text.

Do I have to buy auto insurance?

Kampala State laws requires that all motor vehicles registered and operated in the state carry certain minimum insurance coverages.

What are deductibles?

A deductible is the amount of the claim that you agree to pay or the part that is deducted from your claim check. Comprehensive and collision coverages generally have deductibles.

04/03/2013

Given the increase of crime in Kampala, i would strongly suggest we start insuring our assets. Don't seat back and regret when you have options.

22/01/2013

Anyone who needs advise on Insurance or any related issues do not hesitate to contact us

21/01/2013

The Importance of Insurance

The concept of insurance was sparked by the idea of pooling risk. People with families and valuable property have always faced the possibility of loss; even the possibility of such loss has caused individuals so much concern that they have ultimately refused to live without having options for replacement of their loss. Thus, the practice of insuring property for its replacement value has evolved. Even more importantly, the practice of replacing of the economic value of a human life has also grown out of this thought process.

Insurance allows you to transfer the financial risk of certain types of losses to another entity, usually an insurance company, that is organized according to stringent federal and state regulations specifically for the purpose of protecting you against losses. By transferring the financial risk to such an entity and paying the required premiums, you can receive compensation for loss in the form of either a lump sum or an annual amount of financial resources. This compensation can maintain or replace your income stream. In this way, insurance helps you and your family maintain financial stability if you get sick or become unable to work because of disability, injury, or death.

If you have insurance but do not incur a loss for which you had coverage, you lose only the premium you paid, although some insurance policies do have a return-of-premium feature. And even though a particular loss may not occur, you still receive value from the premium paid in the form of peace of mind and the knowledge that you are being obedient to commandments that instruct you to care for your family. However, if you do not have insurance and you are sued, get sick, or even die, you and your family may suffer serious consequences: your family may have to rely on only one income or a reduced income to get by, and your children may not be able to achieve important goals. If you do not have insurance and you suffer great loss, it is likely that you will not be able to take care of your family as you should. You may be unable to work, and you may lose your earning capacity: you may lose everything you have ever saved. Insurance allows you to transfer the financial responsibility for risks like illness, disability, and death to an institution capable of handling these risks.

18/01/2013

WHO IS AN INSURANCE BROKER

A professional firm licensed by the Uganda insurance commission
Appointed by the client to manage and service their insurance requirements and risk management program.
Over Ushs.30 Billion worth of premium is handled through insurance brokers in Uganda.
Brokers represent at all times the interest of his client at no extra cost to the clients.

WHY USE AN INSURANCE BROKER?

Brokers are INDEPENDENT from all insurers
They represent and protect interests of clients
They provide impartial and objective advice
Identifying, analyzing, and evaluating risks
Designing a customized insurance program for each client
Negotiating competitive insurance contracts and placing risk
They provide risk management service
Analyze the claim and negotiate speedy settlement
Providing updated information concerning the insurance market

PROFESSIONAL PROTECTION

All insurance brokers have a professional indemnity cover as prescribed by law. Therefore, in case of any professional negligence the client has a fallback position.

DO I PAY MORE WHEN I USE AN INSURANCE BROKER? NO!!!!

You do not pay any extra premium by having an insurance broker.
Over 80% of insurance business in Uganda, Kenya and Tanzania is handled through brokers. Why? Because insurance brokers add value to your insurance program at no extra costs.

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Kampala

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