1. So what exactly does Enhanced motor 3rd party cover?
This covers your legal liability for the damage caused to a third party-for bodily injury and death only.
2. Who is a 3rd party in this case?
A third party is a person who is not part of the insurance contract between the Insurance Company and the policy holder.
3. How different is the Enhanced Motor 3rdparty from the ordinary 3rd party?
Ordinary 3rd party is mandatory and limited to statutory limits while the enhanced is optional yet provides for a wider cover at payment of an affordable additional premium.
However;
Due to the lower limits given by the statutory MTP coverage, most claimants go ahead to demand for higher compensation from the motorists. In order to protect themselves, motorists are increasingly demanding for higher limits above the statutory limits as well as an extension to cover Motor Third Party Property Damage (MTPPD) to enhance the MTP, hence “the enhanced MTP”
4. What is the primary benefit of an “Enhanced Motor 3rd Party”?
The enhanced MTP is designed to provide improved limits in respect to bodily injury or death and also provide property damage cover up to agreed limits.
Ie; The client will advise on limits he wants to be covered and premium is charge depending on the limits of cover chosen
Example Quote for an “Enhanced Motor 3rd Party”;
Please Note: (The limits below can go as higher as the client requests)
- Bodily Injury 50, 000,000. any one accident or series of accidents arising from one event/occurrence and Ushs.100,000,000. in aggregate during the period of Insurance
- Property damage 100, 000,000. for any one accident or series of accidents arising out of one accident.
(These limits are higher than those given by the ordinary MTP depending on the client’s limits)
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