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New motor vehicle insurance premiums from March up to 7.5% from 4%

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anasazi		#11 Posted : Tuesday, February 16, 2010 12:32:49 PM
Rank: Veteran Joined: 6/8/2007 Posts: 675		Do you think too many kenyans are driving? Maybe the other side of it is more people will opt not to drive. Because, truthfully, there are just too many cars on the road, and increasing by the day! Or will this be like another parking fee increase? Hakuna tofauti? Form is temporary, class is permanent
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tuvok		#12 Posted : Tuesday, February 16, 2010 12:44:30 PM
Rank: Member Joined: 5/2/2007 Posts: 536		truth is if there was a scheduled and reliable transport system within Nairobi & its environs, most people would not bother driving.
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mlefu		#13 Posted : Tuesday, February 16, 2010 12:53:41 PM
Rank: Elder Joined: 2/11/2007 Posts: 1,680 Location: nairobi		true on the premiums..no matter how old or unmaintained the car is...
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anasazi		#14 Posted : Tuesday, February 16, 2010 2:03:50 PM
Rank: Veteran Joined: 6/8/2007 Posts: 675		would this encourage some to undervalue their cars and hope for the best? Form is temporary, class is permanent
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tuvok		#15 Posted : Tuesday, February 16, 2010 2:13:42 PM
Rank: Member Joined: 5/2/2007 Posts: 536		@KulaRaha actually I think we'll get more junks on the road - now that more people won't be able afford to maintain their vehicles.
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Eddy		#16 Posted : Tuesday, February 16, 2010 8:11:00 PM
Rank: Member Joined: 7/20/2006 Posts: 277		If insurance companies have not been making money on vehicles covers, i think it is only fair to let them hike it. But isn't the 7.5% for comprehensive cover? me think though no statistics, guys on comprehensive are less than 5% - i was suprised to see a brand new prado from an embassy paying 3rd party at 5K. I have always gotten the impression vehicle insurance in the west is pretty punishing -JK any insight on this? "Nearer home" Angola is starting with premiums at 10%, while Siera Leone also has it on 10% - i think Kenya is rated same with this countries on risk - ha!
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wasee		#17 Posted : Wednesday, February 17, 2010 4:45:10 AM
Rank: Member Joined: 2/5/2010 Posts: 273 Location: NBI		The Increase is to alot 4% to 7.5% is almost 100% increase. the insurance companies and IRA should think of better ways of cutting cost and improving their profits and not going back to the Mwananchi who is already overburdened by so many taxes and high cost of living.
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tuvok		#18 Posted : Thursday, February 25, 2010 7:26:32 AM
Rank: Member Joined: 5/2/2007 Posts: 536		It is definitely on - starting next week. Just got a notification about it. I wonder - if you are due for renewal - might be a good idea and see if you can pay for it this week (maybe at 4%) before the new rates check in. But honestly, these guys should 'backdate' that no claims bit - coz there are guys I know who have not made any claim for 5+ years.
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Magigi		#19 Posted : Wednesday, March 03, 2010 6:22:45 AM
Rank: Elder Joined: 3/31/2008 Posts: 7,081 Location: Kenya		....I am in deep shit... This is unbelievable!!! How can the insurance be almost the cost of another car?
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JkMwatha		#20 Posted : Sunday, March 07, 2010 7:12:38 PM
Rank: Veteran Joined: 9/11/2007 Posts: 816		Eddy wrote: ...I have always gotten the impression vehicle insurance in the west is pretty punishing -JK any insight on this? "Nearer home" Angola is starting with premiums at 10%, while Siera Leone also has it on 10% - i think Kenya is rated same with this countries on risk - ha! @Eddy - pole I didn't see this. Insurance figures in UK are considered expensive when you are paying above £800... Here are some estimates based on •4 years Protected No Claims Bonus •Car parked on street at night •London Address •Occupation •Between a £200 and £250 Voluntary Excess •a previous speeding Conviction •Ford Fiesta 16V 5dr 2007 (popular UK car - so consider a 1.3- 1.5L Toyota in Kenya probably 2004 model) •No Security/Tracking Devices or modifications •Estimated vehicle value of £9,000 •Estimated annual mileage of 12,000 miles •Including Legal Protection This should cost a - 30yr old Male - £300- £500 - 30yr old Female - £350- £600 varies depending on insurer. Source: http://www.petrolprices.com/car-insurance.html click on the link for more details . Motobex
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Wazua » Market » Pennywise » New motor vehicle insurance premiums from March up to 7.5% from 4%

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