Explore answers to common questions relating to Motor Insurance, Property Insurance,
Claims, Coverage, Certificates, Renewals and Payment Plans.
This type of motor insurance provides the most extensive coverage for your vehicle.
It also covers against damages or loss to other people and their property,
whether you are at fault or not. Comprehensive coverage is generally optional by law,
however if you are financing your vehicle, your lender will more than likely require
this type of coverage until the loan is repaid.
This type of motor insurance is the minimum level of insurance required by law.
It protects you if you are legally responsible for injury or death to another person,
or damage to another person’s property or vehicle.
When an accident occurs and an insured makes a claim, the insured is required to pay
a portion of the damage out of pocket whilst the vehicle is under his/her control.
This amount may either be deducted from the claim settlement or paid upfront before
the insurer covers the remaining expenses.
NIATT policies cover any authorized driver over 25 years old and driving for more than
2 years. Drivers under 25 years and/or driving for less than 2 years may be subject
to an additional premium according to company guidelines.
Yes. You may renew on behalf of someone else provided you have a letter of authorization,
a copy of the insured’s driver’s permit or identification card, and identification for
the person making payment.
Yes. A policyholder can suspend an insurance policy if there is a legitimate reason
and coverage can resume within the policy period. The original insurance certificate
must be submitted in order to process the suspension.
The insured must obtain an official affidavit from a Commissioner of Affidavit stating
the certificate has been lost. A small administrative fee is payable to obtain another copy.
No. Windscreen claims do not affect your premium.
Yes. Payment plans may be available through your agent or branch office and are subject
to approval.
A No Claim Discount is a discount earned on the anniversary date of your policy.
For each claim-free year, a specified percentage is accumulated. It can also be requested
during the policy period or up to one year after expiry.
The insured should notify the insurer that the vehicle has been sold and request cancellation
of the policy. The original certificate must be returned and a cancellation form completed.
A homeowner’s insurance policy provides financial protection for your home,
belongings and legal liability if something unexpected happens.
Coverage varies depending on the selected insurance plan.
Market Value:
The amount the property would sell for on the open market,
taking into account land and location.
Replacement Cost:
The cost to rebuild the structure of the property if it is damaged or destroyed,
based on current construction costs, labour, materials, professional fees and debris removal.
The Average Clause is a condition in an insurance policy that applies when an item
is under-insured. It allows the insurer to reduce the claim payout proportionately
if the sum insured is less than the item’s true value at the time of loss.
For example, if you insure something for less than its actual value,
the insurer will only pay a portion of the claim even if the loss is partial.
If your home is insured for less than its full replacement value,
you may have to pay part of the repair or rebuilding costs yourself,
even for a partial loss. This is because insurers apply the Average Clause
when a property is underinsured.
