A motor insurance policy is a legal requirement provided by an insurance company to protect the public from any accidents that may occur on the road as part of the prevention of public liability.
Every owner of a motor vehicle is required by law to have at least one auto insurance policy. Motor insurance policies are classified into two types: act only and comprehensive.
The ‘Act alone’ coverage compensates for death or bodily harm, as well as third-party property damage. All others are considered third parties, whereas the insured is considered the first party and the insurance company is considered the second party.
If the motor is purchased via a hire-purchase agreement, the financiers want a comprehensive policy to protect their collateral interest.
The Namibia Motor Insurance Market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
In today’s ever-changing environment, Hollard in Nambia views their Comprehensive Motor Insurance alternatives through the lens of clever, inventive personalised solutions.
They assure the road ahead will be travelled with total peace of mind knowing that no matter what occurs, they have got one covered by creating faster, easier, and more reliable routes to serve their consumers.
They guarantee the retail value of your automobile for a year, and if they insure a brand new car, they will replace it with a new one within the first year.
They also provide coverage for: Coverage for courtesy motors. After-repair delivery. Hotel expenses in an emergency. Repairs for emergencies.
Remote controllers, keys, and locks. Medical costs. Audio Equipment. Towing and storage after an accident or attempted theft. Counseling for Trauma.
Users have the option of adding more coverage:(regular / extended) car rental. Extras and upgraded equipment. Paying off your car. Coverage for the vehicle’s deposit
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