November 19, 2019 • Car Insurance

Why do you need Motor Insurance?

In Jamaica, it is legally required that all motor vehicles be insured, whether or not it is a personal, commercial or public passenger vehicle. With the right level of coverage provides financial protection in the event of an accident. . It will also provide cover for injuries to other drivers, passengers or pedestrians, and their property.

Accidents do happen, so it’s reassuring to know that you’re covered financially. Getting the best coverage is much harder than it sounds, right? Well, MIBinsure is at your rescue; providing you with fast online service, cheaper rates and the ability to choose among the top insurers in Jamaica. That is, price, choice & convenience all at once! What better deal can you ask for? Just log on to and save up to 60% or more on your private motor insurance. #NoWorriesBigSavings.

Though motor insurance is a legal requirement, it can sometimes be a strain. Be mindful that there are additional benefits of insuring your motor vehicle and that MIBinsure will make it hassle free.

Benefits include:

  • Fulfilling other legal requirement, such as mortgage or lien.
  • Protection of assets.
  • Managing risk costs effectively; and
  • Quick recovery from a loss.
  • Provide financial support if your car is stolen, vandalised or destroyed by fire. 

Types of motor insurance

There are various levels of cover you can choose from when insuring your motor vehicle or motorcycle.

  • Third party – This is the bare minimum required by law, but isn’t always the cheapest. It covers injuries to other people and damage to others property.
  • Third party, fire and theft – This is the same as third party but also covers the cost of repairs or a replacement vehicle if your car is stolen or damaged by fire.
  • Comprehensive – This is the highest level of cover you can get. It protects against damage to your own car as well as accidents involving other people. It can also include a courtesy car and legal expenses insurance; however this may be at an additional cost.
  • Act– Coverage excludes damage to your own vehicle. Limited to damage to third party on public roads only.
  • Laid Up – Coverage includes fire, theft, and other losses (excludes liability) whilst vehicle is stored on premises.

Your insurer may also allow you to add named drivers to your policy who can also drive your car, but it’s important to remember that the main driver must be the person who drives the car the most.

No Claims Discount

For every year you don’t make a claim on your car or motorcycle insurance, you’ll earn a year’s No Claims Discount. This No Claims Discount is then translated into a discount at renewal, although a reduction in premium is not always guaranteed should there be a change in your circumstances or the markets.

Often, this will remain intact if you make a claim for an accident that wasn’t your fault. You must always notify your insurer of any accidents you’re involved in, even if you don’t make a claim.

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