Vehicle/motor insurance companies shield a motorist from the liabilities that they can incur in the event of a road accident. The insurance business in Kenya is regulated by Insurance Regulatory Authority (IRA). IRA is mandated to supervise, promote and regulate the insurance business in Kenya.
However, there are as many insurance companies in Kenya as the number of classes of risks to be covered. That means that an insurance company is licensed to cover specific risks. Our main focus in this article is vehicle insurance companies in Kenya.
We believe you are looking for the best motor insurance company for your valuable vehicle. If so, you are on the right page and on track to finding one if not several.
Fast forward, there are different types of vehicle insurance. Below is a list of renowned vehicle insurance companies.
Read also: Why you need vehicle insurance in Kenya
A list of 5 renowned vehicle insurance companies in Kenya
1 Jubilee Insurance
Jubilee insurance offers robust motor vehicle insurance for cars, trucks, motorcycles and other road-worthy vehicles. It offers comprehensive and third-party motor insurance coverage.
The benefit of insuring your vehicle with Jubilee Insurance are;
- 24-hour free towing
- Political and terrorism benefit
- Free motor vehicle valuation
- Settlement of claim in time
2. AIG insurance
Globally AIG insurance was the largest insurance company. It commands respect and high customer volume.
Additionally, AIG has well-structured motor vehicle insurance. Among its vehicle insurance are; commercial vehicle insurance, motorcycle insurance, and private vehicle insurance.
3. UAP insurance
UAP offers enhanced insurance services to private motor vehicles. Their cover is categorized as gold, silver and standard.
The cover comes with the following benefits;
- Personal Accident Insurance
- AA Membership
- Emergency Medical Expenses
- Car Tracking Device & Services
- 24-hour Road Rescue
- Forced ATM withdrawal
4. Heritage Insurance
Heritage motor insurance is divided into; Third party (TPO), Third party fire and theft (TPF&T) and comprehensive. However, the company only insures motorcycles that are used in the insured business only.
5. APA Insurance
APA insurance was formed after a merger of PanAfrican group and Apollo Insurance. Generally, the company has performed well in motor insurance in Kenya.
Other vehicles/motor Insurance companies are;
Britam Insurance Kenya
Africa Merchant Assurance Company (AMACO Insurance)
Factors to consider when choosing vehicles/motor Insurance companies for your car
Risk coverage that you need
Cost of the premiums
Your car. Different types of cars attract different insurance companies.