1. Is motor insurance compulsory?
2. What is motor vehicle insurance?
3. What information do I need to give to my company?

1. Is motor insurance compulsory?

YES. The Motor Vehicle Insurance Law 1990 Section 3, stipulates that you must have Third Party Liability insurance.

2. What is motor vehicle insurance?



Motor Vehicle insurance protects you against financial loss if you have an accident. It is a contract between you and us. You pay the premium and we agree to pay your losses as defined in your policy.

Motor Vehicle insurance provides own damage and property and liability coverage :

1. Own Damage coverage pays for damages to your vehicle.
   
   
2. Liability coverage pays for your legal responsibility to others for bodily injury or property damage.

If you are financing a vehicle, your lender will require that you insure your vehicle to cover their exposure. Most auto policies are issued for one year. We should notify you by mail when it's time to renew the policy and to pay your premium.

3. What information do I need to give to my company?

We will ask you what make and model vehicles you own, roughly how many miles you drive each year, and what kind coverage you will need. We will also want to know where you live and work how many persons drive the vehicles, how old the drivers are, and the driving records of each driver.

We will then ask more detailed questions about your vehicles, such as their Vehicle Identification Numbers (VIN), whether they have passive restraint systems or air bags, anti-lock brakes or anti-theft devices. If you already have another insurance policy with the company, you might receive a discount on your policy. Once we have assembled all of the information, a premium will be quoted to you. The premium will depend on all the factors above.