motor

Motor insurance is primarily concerned with risks attached to vehicles while they are on theroad. It does not extend to any goods carried by a vehicle, unless covered separately under goods in transit .

The various categories of motor insurance cover being offered by GIB may be classified as
1.) Private and 2.) Commercial

Which types of vehicles fall under Private
vehicle policies?

Cars, saloons and light delivery vehicles

Which types of vehicles fall under
Commercial vehicle policies?

Goods carrying vehicles
Hire cars
Agricultural vehicles
Buses and coaches
Special types e.g., ambulances, road rollers,
cranes, dumpers, hearses, ice cream vans,
tippers, Motor traders

Completion of Proposal Form

Before GIB grants cover, the proposer has to provide the following:

Type of vehicle
Cover required
Use
Details of the driver

Scope of Cover

The range of cover available are for both
private and commercial vehicles. Below are the available cover options.

Third Party Cover Only

This policy provides cover in respect of loss of,or damage to, someone else’s property; vital for any driver who wants peace of mind on the road.

Third Party Cover with Fire and Theft

Cover under this policy provides the following:

a) Loss of, or damage to, someone else’s
property
b) Loss of, or damage to, the insured vehicle as a result of fire damage
c) Loss of, or damage to, the insured vehicle as a result of theft.

Comprehensive Cover

Comprehensive cover provides insurance for the following:

a) Loss of, or damage to, someone else’s
property
b) Loss of, or damage to, the insured vehicle as a result of fire damage
c) Loss of, or damage to, the insured vehicle as a result of theft
d) Damage to own vehicle

Other additional benefits included in the
comprehensive cover include:
a) Towing and storage charges up to GIB’s policy conditions.

b) Repairing or replacing your windscreen, or any window glass or headlamps.

c) Loss of keys for vehicles used for social, domestic, business, and pleasure

purposes (you will be responsible for an excess).

d) Medical expenses to occupants of the
insured vehicle who sustain bodily injury
in direct connection with the vehicle we will reimburse medical expenses up to P1,000.00 per occupant and shall be limited to P10,000.00 per occurrence.

Claims Procedure

As soon as possible after any accident or loss, a completed form should be despatched to your Broker/Agent. In the case of third party claims, correspondence should be passed to your Broker/Agent unanswered and GIB must be advised of police proceedings, if any.

Repairs

GIB’s Claims Department will inspect the damage prior to repairs. To avoid delays in repairing your vehicle, it is important that you provide the following information:

Name, address and telephone number where vehicle may be inspected.
Date of accident
Three quotations from authorised garages.

GIB’s motor engineer will authorize repairs to the vehicle, or cash settlement on agreement of the estimate.

Final Payment

Final payment will be paid by GIB where the cost of repairs exceed the policy excess. The Insured is responsible for paying any excess and VAT, where applicable.