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Coverage Options
What are the types of coverage?
Private Third Party
This is the most basic form of auto insurance available. It is compulsory to
have at least this type of insurance cover on any road vehicle. The focus of
third party insurance is to provide insurance for damage to the other
party i.e. damage to your vehicle is excluded.
Comprehensive Insurance
This
type of coverage offers a complete package and it is advisable to
insure your vehicle with this type of cover whenever possible. It provides cover for damage to
your vehicle and also for damage to third party’s property and bodily injury if you are at fault.
Features
offered include:
- Windscreen Cover
- Agreed Value Option
- Cover for Burglary, Malicious Damage, Flood, Fire
- Cover for Damage by an Uninsured Motorist
- Loss of Use Cover Option
- The reasonable cost of towing your vehicle to an Authorized Garage should
your vehicle be disabled following an accident.
Own Goods
If your vehicle is used for commercial or business purposes or can be insured as a commercial
vehicle (due to the model), this type of cover is applicable to you. Some commercial models may be insured privately at varied rate. To find out more about commercial motor insurance, call
our office at 435-2000.
General Cartage
This policy covers vehicles that are used for freighting i.e. transporting
goods or materials on someone else’s behalf.
Taxi/Tour Buses:
Your
vehicle should be insured under this type of policy, if it is used to
transport paying passengers
Special
The
term “special type” is used for commercial policies, which cover
vehicle-like machinery. E.g. A Trailer
In addition CGI offers:
For further information on these, please contact either Corlette
Kellman or Annette Shepherd
or dial 435-2000 for assistance.
What is Agreed Value?
- If your car is covered on an
agreed value basis and is damaged beyond repair, it does not matter who is
at fault. We will always honour our obligation to you on an agreed value basis.
- If the other party is at fault,
we will pay you the agreed value less any excess and recover from the
other insurer. If we recover more than the agreed value, we will pass on
any surplus to you.
What is Indemnity?
If your car is covered on an indemnity value basis
and is damaged beyond repair, we will need to obtain a pre-accident valuation
of the vehicle before your claim may be settled. The most we will pay is the
market value of the vehicle immediately before the accident or the insured
value whichever is the lesser and we will deduct your policy excess.
Who is covered?
You,and anyone to whom you have given express permission to use the vehicle.
It is important that we know about all licensed drivers in the
household. Be aware that drivers under the age of 25 or those having a driving
experience of less than 2 years are subject to an interview. The
presence of such drivers may affect your policy. Undisclosed drivers may
be subject to increased excesses in the event of a claim.
Am I covered or is the car covered?
The
Liability coverage offered under comprehensive insurance provides
protection for policyholders when they are legally liable for injury or
damage to the property of others while driving an insured vehicle. This
includes your operation of vehicles owned and insured by others.
Comprehensive cover also deals with damage to the insured vehicle.
Are rental cars covered?
Your insurance package does not cover damage to a rental vehicle or liability
incurred for injury or damage to the property of others. Before making a
rental selection, confirm with the rental
company whether an insurance policy is in place.
Do finance companies require certain coverage?
Most
finance companies require comprehensive cover to ensure that their
investment is secure for the duration of the loan. We will send them
verification of coverage.
How do I make changes to my policy?
Just call us at 435-2000 or visit us on the Internet at http://www.insurecgi.com
. We're always here. You'll need to make policy changes when you move,
your marital status changes, you have new drivers in your family, you
replace your car, or you decide you need more or less coverage.
Am I covered if I use my car for business?
It
depends. We offer a personal policy that provides personal auto
insurance. We also accommodate some business and commercial usage, but
not all. The best bet is to give us a call and check.
Am I covered while driving someone else's car?
In most cases, the other person's liability coverage would provide the
primary coverage for both you and the car, but your CGI policy would
provide liability coverage for injury or damage to third party persons
or property.
Do you offer homeowners insurance?
CGI sells Homeowner's and Contents insurance thus permitting one-stop
shopping for your insurance needs. For further information see our home
& contents insurance section or call us at 435-2000.
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