Motor Comprehensive Insurance provides protection for:
- Your vehicle against accidents, theft, fire, or vandalism
- Third parties’ liability for injury, death, or property damage caused by your vehicle
1. What is Motor Comprehensive Insurance?
2. Who can take this insurance?
- Private car owners
- Motorcycle owners
- Commercial vehicle (taxis, vans, trucks) owners
- Corporate fleet owners
3. What does a Comprehensive Policy cover?
Vehicle Protection
- Accidental Damage: Covers repairs for collision, overturning, or any accidental impact
- Fire & Explosion: Covers damage caused by fire, lightning, or explosion
- Theft & Vandalism: Compensation if the vehicle is stolen or vandalized
- Windscreen & Window Damage: Repair or replacement of broken glass
Third-Party Protection
- Third-Party Liability: Covers legal liability for injury, death, or property damage to others caused by your vehicle
Additional Benefits
- Towing Costs: Covers reasonable towing after an accident
- Personal Accident: Compensation for driver and passengers in case of injury or death
4. What is not covered?
- Damage caused while driving without a valid license or under the influence of alcohol/drugs
- Wear and tear, mechanical breakdown, or depreciation
- Use of the vehicle for illegal purposes or racing
- Damage outside the geographical area covered, unless an extension is purchased
- Pre-existing damage or defects not disclosed to the insurer
5. Key Policy Features
- Sum Insured: Current market value of your vehicle at the time of cover
- Premium: Typically 2.8%–6% of the vehicle’s value, depending on type, make, model, and usage
- Excess/Deductible: Amount you pay per claim (usually 10%–15% of the claim value)
- Policy Term: 12 months, renewable annually
- Optional Benefits: Courtesy car, higher liability, political violence, roadside assistance
6. How to Make a Claim
- Notify the bank immediately through your Relationship Manager, at any branch, or via email at [email protected].
- Inform the Police and obtain a Police Report/reference number
- Complete the Motor Claim Form provided by the insurer
- Submit all supporting documents (vehicle logbook, photos, garage quotation)
- Allow inspection by the insurer’s appointed assessor or garage representative
- Await assessment and approval for repair or compensation
7. Documents Required for a Claim
- Completed Claim Form
- Copy of Insurance Certificate / Policy Schedule
- Police Report
- Driver’s Permit
- Vehicle Logbook copy
- Photos of damage
- Garage quotation / repair assessment report
8. Claim Settlement Timelines
- Acknowledgement of claim: within 3 working days
- Inspection and assessment: within 5 working days
- Repair approval/settlement: within 10–15 working days
- Final payment/repair completion: within 20 working days after signing the discharge
voucher
9. How Compensation is Determined
- Extent of damage (partial or total loss)
- Vehicle’s current market value
- Sum insured and applicable excess
- Compliance with policy terms and conditions
10. Why choose Motor Comprehensive Insurance?
- Protects your vehicle against accidents, theft, fire, and vandalism
- Covers liability to others, reducing legal and financial risks
- Offers quick repairs and settlement after an accident
- Optional extensions allow full protection tailored to your needs
- Provides peace of mind for personal or business use
Always request for a copy of your Insurance Certificate at any Housing Finance Bank branch or by emailing us at [email protected] or contact us on 0417803000 0r 0200803000 for support.
Housing Finance bank Bancassurance is regulated by the insurance regulatory Authority of Uganda.
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