- Top 10 List of Best Car Insurance Companies in Kenya
Top 10 List of Best Car Insurance Companies in Kenya
Steve Oke Chapchap Market No Comments
LIST OF 10 BEST CAR INSURANCE COMPANIES IN KENYA (2019)
In Kenya, Car Insurance has never been an important culture among the natives. But it is a mandatory policy for the private vehicle owners to get insurance covers against any kind of accident or damage. A number of Car Insurance companies in Kenya deal in it and provide different types of insurance coverage for the loss or damage as a result of natural or man-made calamities.
The top 9 companies for private vehicle insurance which provide best car insurance in Kenya are described below.
NEW ADDITION: NEXT CAR INSURANCE
InsureAfrika has come up with a revolutionary product named NEXT Insurance – a comprehensive car insurance product with tailored pricing and many other add-ons & benefits. For more details you can visit their website here.
Allianz Group is a worldwide leader in Insurance and Asset Management. The group has presence in more than 70 countries covering all continents including Africa. The global footprint gives the company a wide pool of knowledge and an unrivaled expertise in underwriting all classes of insurance.
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In Kenya, Allianz is registered as Allianz Insurance Company of Kenya Limited, “Allianz Kenya” (click here to find out more) and is licensed and regulated by the IRA – Insurance Regulatory Authority .
BRITAM KENYA – BRITISH AMERICAN COMPANY
Britam group headquartered in Nairobi, Kenya, with its subsidiaries in Uganda, South Sudan, Rwanda, Tanzania, Malawi, and Mozambique. It is one of the leading financial services groups of Kenya, providing a wide variety of insurance products, financial services, investment management and advisory services, and asset management to small-scale industries, large corporations, government entities, and even individuals.
The company has been providing its services across Eastern and Southern Africa region since 1920. They have number of branches in Nairobi. By 1961, it became one of the largest financial service providers serving about 200 countries along with its business investment in Europe, Africa, and the Indian Ocean.
Under Car Insurance, they will cover you against:
- Accidental loss or damage
- Third Party Liabilities
- Emergency Medical Expenses to driver or passengers or pedestrians after an accident
- Damage to vehicle in custody of service providers
Other Services Offered
The company offers extensive life and general insurance plans for its customers. These are as follows:
- Car Insurance
- Life Insurance
- Medical Insurance
- Motor Insurance Kenya
CIC INSURANCE (CO-OPERATIVE INSURANCE)
Co-operative Insurance Company(CIC) is the fastest growing co-operative insurer in Africa and ranks among the world-class provider of car insurance and other financial products and services. The company started off as a small agency in 1968. After ten years, it gained the license to trade in all kinds of insurance.
In 1999, the company reformed to the foremost insurance groups in the name of The Cooperative Insurance Company of Kenya Limited (CIC). CIC has innovatively created customized products that have cemented their position as a trusted insurance and financial services provider.
Some of the benefits they provide include:
- Maximum of 24 days subject to an excess of the first three days
- Personal Accident Cover for the nuclear family, one indoor employee alongwith shared Personal Accident Cover
- Courtesy Car
- Trauma Counseling for persons involved in any incident
- Replacement of Lost Car Keys
- Forced ATM Withdrawal Maximum Limit Ksh 15 000/-
- 24hr roadside assistance services countrywide
APA CAR INSURANCE
APA Insurance Company is ranked among the top 10 best car insurance companies in kenya. Being a trusted foundation, the company purveys a wide range of car insurance products and services to both individuals and corporates.
For more information, you can visit their official website.
APA: The flagship company is formed with the union of Apollo Insurance Company and Pan Africa Insurance and acquires a combined experience (Pan Africa – 1946 and Apollo –1977) of 100 years from both companies. The company also deals in :
- General Insurance risks (Motor, Liability, Agriculture, Marine, Aviation, Property and Micro Insurance).
- Health Insurance, Risks (Corporate Health Insurance, Individual and Family Health Insurance).
JUBILEE CAR INSURANCE
Jubilee Insurance is a well-established car insurance company of Kenya with the largest economy in East African Community. The company is a wholly owned subsidiary of a popular multinational Insurance holding company, Jubilee Holdings Limited, with its headquarters in Nairobi, the capital of Kenya.
The company was ranked first in market share with 11.9% of the Kenyan market as per reports released by Kenyan Insurance Regulatory Authority report released in September 2014.
Their coverage options include:
- Private Car Comprehensive
- Commercial Vehicle Comprehensive
- Trade Plate Policy
- Third party Bodily Injuries
- Theft/malicious damage
- Fire/special perils. e.g. Floods, wind, storm, falling trees, etc
- Third party liability –Injury & property damage
UAP MOTOR PRIVATE INSURANCE
Union Insurance and Provincial Insurance of Kenya generally referred as UAP Insurance of Kenya is the oldest subsidiary of UAP Group incorporated in 1978 offering a wide range of services for different insurance classes such as motor vehicle, personal accident, fire, theft, marine, workman compensation as well as livestock and crop. The company was formed in 1994 after the merger of Union Insurance and Provincial Insurance following the merger of their parent companies, UAP of France and Provincial of the UK.
UAP Kenya was the first insurance company to be ISO 9001:2000 certified and also achieved the highest Global Credit Rating (AA+). The company is also rewarded with the FiRe award for best-presented accounts for seven consecutive years.
What does they provide?
The insurance product (Gold, Silver and Standard) will cover the vehicles for loss or damage (including riot and strikes) with Third Party liabilities anywhere in East Africa.
Some Car insurance benefits they provide includes:
- AA Membership,
- Car Tracking Device & Services,
- Personal Accident Insurance,
- 24 hour Road Rescue,
- Emergency Medical Expenses,
- Forced ATM withdrawal and many more
Apart from Motor Private vehicle insurance, they also provide:
- General Insurance
- Accidents and General Losses
- Agricultural Solutions
- Engineering Solutions
- Life Insurance
HERITAGE INSURANCE COMPANY
Heritage Insurance Company has been providing its first rate short-term insurance services since 1924. Norwich Union Fire Insurance Society and The Legal & General Insurance Company merged their interests in 1976 to form The Heritage Insurance Company Limited.
The company was rated AA- by Global Rating Company (GRC), for amongst other reasons, our high claims paying ability which is one of the highest international ratings awarded to a Kenyan insurer.
The company insures private vehicles under the following terms:
- The private vehicles will include Saloons, Station wagons, Estates, and the large Four Wheel Drives (4X4).
- The vehicles insured must be used for social, domestic and pleasure purposes only.
- Policy type and costs will depend upon different things such as age, marital status, and experience as a driver.
Some of the other general things covered under private car insurance kenya include
- third party liability,
- loss of spare parts/ keys,
- windscreen and towing services.
AIG Company was formerly known as Chartis Kenya until November 2012. The company was functioning locally since 1972 with a plan to grow as a global market leader. With the years of experience and dedication, the company became one of the largest general insurance organizations in the world, serving more than 70 million commercial and consumer clients worldwide, It includes 98% of the Fortune 500, 97% of the Fortune 1,000, and 90% of the Fortune Global 500.
The company has been cited in industry surveys as being the best in product innovation and claims settlement service. It is also ranked among the leading insurance companies in the world and is committed to earning customer trust through continual innovation and efficient service.
The company is providing motor insurance for the below mentioned classes:
- Private Motor Insurance Kenya
- Health Insurance
INSURANCE COMPANY OF EAST AFRICA (ICEA)
Insurance Company of East Africa (ICEA) is a member of the First Chartered Securities Group and one of the largest insurers and financial services companies in East Africa. This is a leading savings and trading group with interests in different sectors found locally in Kenya.
These sectors are insurance, banking, manufacturing shipping, property, and agriculture. The company has branches spread all over Kenya; Nairobi, Kisumu, Nyeri, Mombasa, Nakuru, and Eldoret. The insurance & investment subsidiaries in Uganda and Tanzania, previously controlled separately by ICEA and Lion of Kenya respectively, also form part of the ICEA LION Group.
One of the leading financial services providers, ICEA offers innovative services in car insurance kenya, pensions, investments, and trusts.
Some of the benefits under car coverage are as follows:
- Courtesy car (Loss of Use)
- Rescue services
- Personal Accident for driver and passengers
Various coverage options provided by ICEA includes:
- Third Party Only – It provides cover for third parties in case of bodily injury or damage to their property.
- Third Party Fire and Theft
- Comprehensive Cover (Loss of Use)
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