Comprehensive car insurance provides the widest cover – covering your car for theft and hijacking, damages from an accident, fire or explosion and natural disasters like hail and floods, as well as covering damages to your car’s glass and liability to other parties if you’re in an accident. Third Party car insurance is where the policy holder own’s vehicle is not covered but damage or injury to other people and property are covered.
The best and easiest way is to create an inventory of all of your household contents with the replacement value of each item. The total replacement value of this entire list is the insurable value.
You would carry a part of the risk in proportion to the amount that you undervalued your household items. In other words, if the actual value of your household contents is GHS200,000 and you have cover for GHS100,000 (50% of the value), ASIAC Insuring partners will cover 50% of your loss.
Yes, we do. If the vehicle does not exist in our system, we will agree on a value of the vehicle with you the policy holder and insure your vehicle for that value.
A thorough inspection upfront prevents you from having problems in the unfortunate event of having to make a claim. By giving your vehicle a thorough inspection – determining whether there’s any existing damage to the vehicle, confirming if the immobilizer is adequate and in good working order and obtaining the details of any non-standard accessories and sound equipment, we make sure that we have all the information we need to cover your car properly.
We assume you mean household contents insurance as you would probably not be interested in insuring the structure if you are not the owner. You can certainly get household contents insurance whether you own the property or not.
An excess is an agreed amount of money that you, the client, is liable to pay in the event of a car insurance claim being settled. For example, if the excess on your car is GHS 3,000.00, and the damages amount to GHS 50,000, ASIAC Insuring companies would pay the remaining GHS 47,000.00 once you’ve paid your excess to the repairer. You can discount your premium by choosing a higher excess.
The basic principal of insurance is this: an insurer should place you back in the SAME position you were in, before you suffered the loss you are claiming for (indemnity). The idea behind insuring your assets is to financially prepare you for a possible future loss. Bottom line? ASIAC Insuring companies will replace, repair, reinstate or pay cash for the items that you lost.
There’s no waiting period before you can claim. Insurers
‘Private use’ is when you use your car for private or social purposes, including driving between your home and regular place of work. ‘Business use’ is where the vehicle forms an essential part of the performance of any work or function. If you select ‘Business use’, ‘Private use’ is covered under your policy.
ASIAC’s Insurers will insure your laptop but not as a stand-alone risk. You would need to have either a car insurance or contents insurance policy to link it to.
In general, we do cover thatch roof properties provided there is an SABS approved lightning conductor installed on the premises. However, the whole risk will need to be underwritten for us to determine whether we will accept your specific risk and, if so, what premium and terms and conditions will apply.
Yes. The premiums differ depending on the make and model of the car.
In the event of your car being involved in an accident and driven by your friend you will be covered provided all terms and conditions of your Insurers car insurance policy are met.
Yes, we do offer motorcycle insurance. Please visit our website for more info on insuring your bike.
Most policies have an exclusion in their general terms and conditions that exclude damage caused by vermin (rodents). When the exclusion is mentioned in the general terms and conditions it applies to all sections of the policy wording.
It doesn’t really matter how high quality it is or what the frame is made of. What does matter is whether a burglar can get in more easily. In general burglar bars on windows and security gates on sliding doors do reduce the risk of burglaries and your premium will probably be less if you have this additional security installed.
Unfortunately, for young drivers our experience shows that driving risk reduces with age. Basically, older drivers have fewer accidents than young or new drivers. As a result, insurers usually base their premiums on a sliding scale where younger drivers pay a higher premium than older drivers and the premium loading reduces over the years.
Your brother needs to insure the car with you as the ‘regular driver’ on the policy.
In the unfortunate event of a household insurance claim, Insurers can ask you to prove ownership and value of the items you claim for. It is advisable to keep the invoices to ensure that the correct items are quoted on and replaced in the event of a claim.
The items will need to be covered under Home Insurance (Contents Insurance), which covers all personal belongings kept inside your home and outbuildings at the address noted on your proposal form, which belong to you or to any members of your household who live with you. Outbuildings, whether they are separate from your home or not, include garages, domestic quarters and storerooms. Insured value You need to insure your Stuff for its total replacement value. This is the cost of replacing your lost or damaged item(s) with new ones. Should you insure your Stuff for an amount less than its replacement value, you will be under-insured and Insurers will pay you proportionately in the event of a claim. What are you covered for under Home Insurance? Loss or damage caused by fire and explosion, unless the property is illegally occupied, vacant or abandoned, and earthquakes.
All vehicles under factory warrantee are repaired with original parts from the specific vehicle dealer. On older vehicles it is a standard procedure in the insurance industry to use second-hand parts on certain items..
There’s no standard-issue answer to this one. The time frame any claim takes depends greatly on the type of incident as well as how soon the required information and documentation is supplied to the Insurers claims department. We only work with insurers with a track record of quick claim settlements.
‘Retail value’ is the higher of the two, it’s the average price a dealer would sell the vehicle for – taking into account its age, condition and mileage. If your vehicle is covered for its retail value, and it is either written-off, stolen or hijacked without being recovered, the settlement amount will be based on its retail value less the applicable excess, enabling you to replace the vehicle with a similar model. ‘Market value’ is lower than the retail value. If you select ‘market value’, we’ll charge you a discounted premium. ‘Trade’ or ‘book’ value of the vehicle is the average price a dealer will pay you for your vehicle.
Insurers may insist on proof of ownership and value for any item for which you claim. That being said we do take into account the value and age of the item before requesting proof of ownership. You need to insure the TV along with all other personal possession in your house and outbuildings under your Home Insurance policy Insurers for its total replacement value. This is the cost of replacing the lost or damage item with a new one. Be sure that you have sufficient cover so that average is not applied at the time of a claim.
Not having a Ghana ID number isn’t a problem, our agents will use her passport number on our system. What she does need is a valid driver's license. Read the excerpt below, straight from our policy wording, that details our ‘valid driver's license’ policy: insurers only accept regular drivers with a full and valid driver's license. insurers may also accept licences obtained in foreign countries provided that the driver is driving legally in Ghana. The option – “International License/Permit" – must be selected on the system and the original date of obtaining the underlying license must be captured to obtain the correct premium. It should be made very clear to the client that the onus rests upon him/her to ensure that he/she is driving legally in Ghana. If the client is not driving legally in Ghana, his/her claims will not be entertained. Please note that in some countries it is possible to obtain a driver's license before the age of 18. If the client is younger than 18, even if they have an international driver’s license/permit, they will not be permitted to drive in Ghana. A person must be 18 years of age or older to be able to drive legally in Ghana. It is always easier for claimants to validate a claim if the person does have an international permit but a claim will not be rejected if the person does not have a permit but is driving legally in Ghana.
That’s up to you. Your home contents are covered under Home Insurance and you can elect to be covered for power surges and dips. You may also purchase electronic equipment which is more likely to cover power surge.
Insurers Refer to the cancellation notification period on the policy.
It doesn’t really matter how high quality it is or what the frame is made of. What does matter is whether a burglar can get in more easily. In general burglar bars on windows and security gates on sliding doors do reduce the risk of burglaries and your premium should probably be less if you have this additional security installed.
There is no cover for ‘lost’ sunglasses under household contents cover. They would have to be ‘stolen’ inside the house for them to be covered. The client would have to report a theft case to the police and the standard excess on the policy would apply. Should the individual value of the item be more than GHS 500 it would need to be specified under all-risk cover. All-risk covers you for accidental loss or damage anywhere in the world (Your home is part of this).
Your vehicle can be insured for ‘Private use’, ‘Professional use’ or ‘Business use’. Private or social purposes (driving between your home and regular place of work) is classified as ‘Private use’. ‘Professional use’ is where the vehicle forms an essential part of the performance of any work or function as a Lawyer, Doctor, Actuary, Accountant, Architect or an Engineer and it also includes ‘Private use’. ‘Business use’ is where the vehicle forms an essential part of the performance of any work or function and it also includes private use. Your proposal form reflects the use that you chose. It’s vital that you insure your vehicle for the correct use in order to have cover. Scenario: If you utilise your vehicle for business purposes, your vehicle is on the road more often than if you only use it for private purposes. The chance of it being stolen or involved in an accident is therefore much greater. The premium for a vehicle being used for business purposes is higher compared to the same vehicle being used only for private purposes. If you insure your vehicle for the incorrect use you will not have cover on your vehicle in the event of a claim, as the premium paid will be incorrect.
In terms of the policy, when you claim, Insurers may require proof of ownership and value of any items for which you claim. You also need to make damaged items, which you claim for, available for inspection in order to substantiate the extent and nature of the damages. With regards to your question raised, there are various factors Insurers will take in consideration and each case will be assessed on merit. Insurers can request various other form of proof of the specific item from you, which is not limited to a receipt and/or purchase invoice. Please contact our claims call centre if you have any more questions.
TYes. An excess is payable whenever a claim is submitted and it’s the first payment that needs to be made in the event of a claim, whether it was your fault or not. You see, the administrative cost of a car insurance claim is the same, regardless of who’s at fault. If you’re not at fault, you can claim the excess amount back from the guilty party. Unfortunately, this can take a long time, especially if the guilty party isn’t insured but you can count on Insurer’s legal recoveries department to do their utmost to recover your excess free of charge. There are certain circumstances when an excess cannot be recovered, for example: • You the insured does not have the guilty parties details • The guilty party does not have any income or assets to attach • The legal costs outweigh the recovery costs (excess amount) • The guilty party cannot be traced • The merits of the claim do not justify the recovery of the excess
In terms of the policy, when you claim, Insurers may require proof of ownership and value of any items for which you claim. With regards to your question raised, there are various factors Insurers will take in consideration and each case will be assessed on merit. Insurers can request various other form of proof of the specific item from you, which is not limited to a receipt and/or purchase invoice. Taking photos of everything in your home would not do any harm and may help in the unfortunate event of a claim. Please give our claims call centre a call if you have any more questions.
Yes, you can! With ASIAC, you can cover both your home and car with one policy and pay one consolidated premium.
In the event of a total loss, you (the client) have the choice of making use of your mechanic. If you mechanic can repair the vehicle, the total repairs must be less than 65% of the insured value. We will further require that you (the insured), sign a disclaimer confirming that you elected for a repair on the vehicle at your own risk. Note: If the vehicle is financed, we may require permission from the finance house in this regard.
Yes, you are covered for accidental breakage of a TV set assuming you have household contents cover from Insurers. Please contact our claims department to lodge a claim.
Insurers may insist on proof of ownership and value for any item for which you claim. That being said we do take into account the value and age of the item before requesting proof of ownership. In terms of the policy, when you claim, Insurers may require proof of ownership and value of any items for which you claim. You also need to make damaged items, which you claim for, available for inspection in order to substantiate the extent and nature of the damages. With regards to your question raised, there are various factors Insurers will take in consideration and each case will be assessed on merit. Insurers can request various other form of proof of the specific item from you, which is not limited to a receipt and/or purchase invoice. Glassware/crockery are not excluded and can be covered. Please give our call centre a call if you have any more questions./p>
Yes. We require that a car be registered in Ghana before you can purchase insurance for accident, fire and theft cover. Insurers offer accident, fire and theft cover for vehicles registered in Ghana. Through ASIAC you can insure vehicles not registered in Ghana for third party liability cover, giving you peace of mind in the unfortunate event of you being the guilty party in an accident.
Provided that you have a valid claim under your comprehensive motor policy, Insurers will indemnify you for damages sustained to your vehicle. They will also consider indemnifying any third party for damages, based on the circumstances and/or merit of the incident/loss. As the liability is automatically transferred to Insurers when you have a valid claim, Insurers may defend and/or attempt any recovery against any Third Party on your behalf.
The excess amount won’t differ in the unfortunate event of you having an accident outside Ghana borders. When you have a valid claim in terms of your policy, you must pay the basic excess as well as any applicable additional excesses as noted on the policy schedule. Under the Insurers motor Insurance policy, you’re covered in the ECOWAS countries BUT cover outside of Ghana is limited to third party only.
When insuring an asset, the insurance company will want to establish that you have an insurable interest in the property, in other words, you must stand to suffer a direct financial loss if there is a claim. For example, if your car is damaged in an accident, the value of your car has been reduced, and whether you pay to have your car repaired or sell it for scrap, you have suffered a financial loss resulting from the accident. An insurance company might not wish to cover your asset if you are not directly responsible for it.
Yes, on both counts. We insure people under 25 years of age and we insure people who drive high performance cars.
Yes, we do use marital status when calculating risk. Our experience has shown that married or co-habiting customers pose a lower risk than single or divorced people do. This could be because single people often go out, are on the road more and often leave their homes unoccupied.
Numerous factors are taken into account when determining your premium. To name a few: the make and model of your motor vehicle, where your vehicle is kept at night, what purpose your vehicle is used for and your previous claims history. It is very important that you are honest when answering these and any other questions as your premium is based on your answers.
We do allow our clients to choose their own repairer. In these cases, we will have a disclaimer signed by the client, which will distance us from any defective workmanship or issues that the client may experience at his/her panel beater.
Fortunately, Car Insurance in Ghana is not a complicated affair. There are primarily three types of car insurance – Comprehensive Car Insurance, Third Party Fire and Theft, and Third Party only. Comprehensive car insurance provides the widest cover and covers for theft and hijacking, damages due to an accident, fire or explosion and natural disasters like hail and floods. Comprehensive car insurance cover also includes damage to the vehicle’s glass and liability to other parties as a result of an accident. Third Party Fire and Theft insurance provides insurance cover for any damage you may cause to the vehicle of another person, and the accidental death or injuries of third parties involved in the same accident. You will also be compensated for the loss of your vehicle due to attempted theft, theft or hijacking, as well as any damage to your vehicle that was caused by fire, lightning or explosions. The main difference between ‘Comprehensive’ and ‘Third Party Fire and Theft’ is that your car is not covered against accidental damage. ‘Third Party Fire and Theft’ is the second most expensive of the three car insurance types. Third Party Only insurance is the cheapest of the three and provides insurance cover for any damage you may cause to the vehicle of another person as well as the accidental death or injuries of third parties involved in the same accident. You have no cover under this insurance type against the loss of, or damage to your own vehicle.
Once a year, normally on the anniversary of your policy, we look at your policy and adjust the premium. We look at various factors including the value of your car, what it costs to repair your car, your claims history in the preceding year, how you have managed your account with us etc. Please don’t hesitate to contact us to discuss your premium during the renewal period.
No problem! Yes, you can re-instate your Insurance policy if you cancelled it.
Yes, we do provide insurance cover for hiring vehicle
That’s a straightforward question. Here’s a straightforward answer… Yes, you can, as long as the vehicle has its original identification numbers and in a very good shape.
The inspection is necessary to avoid any problems in the unfortunate event of leading to claim.
Yes, you can claim for damages. There’s an excess applicable and we’ll need to assess the vehicle to ascertain the extent of the damage. Please note that any additional damage caused to the vehicle from continuing to use it won’t be covered and we urge you to arrange for the assessment of the vehicle as soon as possible. Please contact us as soon as possible on 0000 00 00 00 or complete the claims notification form online so that we can help you and get the ball rolling.
If you’re the regular driver of your vehicle the policy will be declined, as we can’t insure a vehicle where the regular driver doesn’t have a valid driver’s license. However, we can insure your vehicle with you as the policy holder but stating the regular driver details as being the person who drives the vehicle most often (assuming it is not you). In terms of our policy, in order for you to have a valid claim, the person driving the vehicle must have a valid driver’s license, this could also include a valid learner’s license. In the case of a learners license a claim will only be valid if the person is accompanied by someone with a valid driver’s license.
Below is an excerpt from the Insurers policy documentation regarding cancellations. Policy changes and cancellation Any change or amendment which I make will be effective from the time and date agreed to. I have to give Insurers a months’ notice prior to cancelling my policy, which entails that a pro-rata premium could be collected at the next collection date. Scenario: Should I contact Insurers to cancel my policy on the 4th of a month, the cancellation will be effective from the 4th of the following month. I therefore will have cover till midnight on the 3rd of the following month. Insurers will change or cancel my policy by giving me 30 days’ notice. Insurers may give me notice verbally, electronically, by fax or by post to my last known address. Insurers will cancel my policy with immediate effect should I fail to comply with their reasonable instructions or requests. For cancellations I must also take into consideration the sections "Payment not received” and “deliberate or fraudulent acts". Refunds in the event of cancellation of my policy If a premium has been paid for any period beyond the date of cancellation of this policy or insured item, Insurers will refund the relevant portion less any administrative costs, provided that no valid claim has been submitted for that period.
If you are the regular driver of your vehicle the policy will be declined, as we cannot insure a vehicle where the regular driver does not have a valid driver’s license. However, we can insure your vehicle with you as a policy holder, stating the regular driver details as being the person who drives the vehicle most often (assuming it’s not you). In terms of our policy, in order for you to have a valid claim, the person driving the vehicle must have a valid driver’s license, this could also include a valid learners license. In the case of a learner’s license, a claim will only be valid if the person is accompanied by someone with a valid driver’s license. Please contact our call centre to complete a car insurance quote and to determine what premium you would pay.
The excess amount is the first amount payable in the event of a loss. If the damages to the insured item are less than the excess amount, the client has no claim and will be liable for the repair cost.
The excess amount is the first amount payable by you. In the event of a total loss claim, the excess amount will be payable and due immediately on authorisation of the claim. In terms of a claim where a vehicle is repairable, the excess amount will be payable directly to the repairer on or before order any spare parts, and/or on delivery of such vehicle after repairs. Hope that answers your question!
Numerous factors are taken into account when determining a client’s premium. To name a few: the make and model of your motor vehicle, where you live and work, where your vehicle is kept at night, how far you drive to work, who the driver of the vehicle is, what purpose your vehicle is used for and your previous claims history. It is very important that you are honest when answering these and any other questions as your premium is based on your answers.
We would certainly consider insuring your car but would require that you be transparent specifically surrounding your 'invalid claim'. Each and every case is determined on its individual merits. Please contact our call centre to discuss your options.
There is really no benefit in not taking out insurance to cover your valuable possessions. Self-insuring may be an option if you can somehow avoid a loss for a very long time.
Any item specified on your insurance policy needs be covered for the replacement value. If the item is stolen the insurer will obtain replacement quotes in accordance with the item’s specifications (make and model). The insurer will then pay the replacement or insured value (whichever is less), less any applicable excess. Please note that the insurer reserves the right to replace or pay cash in lieu.
Having a single key as you described will not affect the outcome of a car insurance theft claim. However, we suggest that you have a spare key made, for obvious reasons.
Unfortunately, we only offer comprehensive cover for cars registered in Ghana, in other words, we do not offer accident, fire or theft cover for vehicles not registered in Ghana. However, you are able to insure vehicles not registered in Ghana for third party liability cover, giving you peace of mind in the unfortunate event of you being the guilty party in an accident.
A multitude of factors are used to calculate a car insurance premium – the value of a car and the cost of repairing a car are two important factors, which can be affected by the age of a car. Whether a car is used or not has no bearing on the premium calculation. What is likely is that a brand-new car will be worth more than a used car (assuming the same make and model), which will therefore result in the brand-new car having a higher premium, based on the value of the car.
Yes, we do insure imported cars registered in Ghana.
If you have current car insurance cover it is probably easier for you to simply claim from your car insurance company. You will however need to pay an excess when submitting the claim. It is inconvenient, frustrating and a waste of time to drive around getting quotes to have your car repaired, which is one of the reasons to have motor insurance cover.
It is unfortunately impossible to give you an indicative quote with the information you have supplied. Please contact our call centre or complete an online insurance quote to get a premium for your Ford Bantam.
We’d love to help! Please contact our call centre or complete an online car insurance quote on our website. By buying your car insurance online you can earn cash rewards.
A claim is valid if it meets the terms and conditions of your policy. Here are a few examples: 1.) It is a condition of cover to pay your premium in order to enjoy cover. If your premium was unpaid, and you submit a claim during the unpaid period, your claim will not be valid. 2.) The driver of the insured car needs to have a valid driving licence. In the event that the driver has an accident and does not have a valid licence, your claim will not be valid.