Car insurance is one of the most important types of insurance plans that most individuals require. Insurance can however be defined as the purchase of security or assurance, with the intent to protect oneself from a risk.
In Ghana, it is compulsory to have a motor insurance plan that will allow you to be rescued in the event of a car accident, theft, or fire.
Unfortunately, many people do not realize the importance of auto insurance or fail to insure their vehicle until they are involved in an accident.
Types of Motor Insurance in Ghana
There are different types of auto insurance here in Ghana. These are two(2) are offered by many companies:
Third-Party Vehicle Insurance
A third-party insurance policy is one that is obtained to protect you from the claims of others. Third-party insurance is a type of liability insurance purchased by a first-party (insured) from a second-party (insurer) to protect against third-party claims (third party).
In simple terms during the event of an accident, a third-party insurance policy will protect the third-party damages (passenger, pedestrians, or whoever).
It is usually less expensive compared to comprehensive auto insurance with a price of around GHC 475 per year.
Comprehensive Vehicle Insurance
This form of insurance provides reassurance. The finest vehicle insurance coverage is comprehensive car insurance, which covers reimbursement for automobile accidents and other types of misfortune.
In the event of an accident, the insurance company takes the cost of every damage involved in the accident.
Currently, comprehensive insurance is valued at 5% of your car value.
Mytechhubgh has taken on the task of providing its readers with a list of the top 5 best vehicle insurance providers in Ghana that are currently functioning well in the market, along with all essential data. Kindly note that this is in no specific order.
Here are my top five (5) motor Insurance companies in Ghana
Allianz Ghana
Allianz Ghana is one of the most reliable car insurance companies in Ghana. Due to their world-class service, rapid claims settlement, and flexible motor insurance policies that are customized to match your insurance needs, they claim that over 50 million motorists worldwide trust them to cover their automobiles.
Allianz Ghana Car insurance packages
Allianz Ghana has two types of auto Policies which are the Third-Party Motor and Comprehensive Motor Policy.
Allianz Ghana Contact details
Website:Allianz Ghana.
Head Office: Lexta Square, No. 79 Achimota Rd, Accra.
Allianz Ghana Contact:0302-764-893.
Email:allianz.ghana@allianz.com.
Vanguard Assurance
Vanguard Assurance is a one-of-a-kind insurance firm that considers the liabilities that can arise from motor vehicle accidents, which can result in significant financial losses. Vanguard considers people’s properties that are damaged or destroyed as part of its goal of aiding one’s own car or motorcycle. Worst-case scenario: death or harm.
Vanguard Assurance vehicle packages
Vanguard Assurance offers three different types of policies to address these risks. They’re the Comprehensive, Third-Party Fire and Theft Insurance.
Vanguard Assurance Contact details
Website:Vanguard Assurance.
Head Office: No.25 Independence Ave, Ridge, Accra.
Vanguard Assurance Contact:0244334407.
Donewell Insurance
Donewell Insurance is one of the country’s oldest insurance companies, with millions of customers both inside and outside the country. Donewell offers three forms of insurance for vehicle owners and/or motorists, thanks to their versatile policies.
Donewell Insurance vehicle packages
Comprehensive Cover, Third Party Fire and Theft Cover, and Third Party Liability Cover are the three options.
Donewell Insurance Contact details
Website:Donewell Insurance.
Head Office: F333/1 Carl Quist Street, Kuku Hill, Osu RE Accra.
Donewell Insurance Contact:+233 – (0) 302-763-065.
Email:info@donewellinsurance.com.
Hollard Insurance
Hollard Insurance, regarded as one of the most popular insurance companies, aids clients in the following areas: Accidental collision or overturning, Fire, external explosion, self-ignition or lightning, Theft, burglary, housebreaking, and malicious acts.
Hollard Insurance vehicle packages
Third-Party Fire & Theft and Motor Third Party are two insurance policies offered by Hollard.
Hollard Insurance Contact details
Website:Hollard Insurance.
Head Office: 11 Patrice Lumumba Road, Airport Residential Area.
Hollard Insurance Contact:+233-302-220966.
Star Assurance
Star Assurance is another dependable insurance business whose policy is designed to cover our insured’s legal liabilities arising from the usage of a motor vehicle, as well as the loss or damage to his car.
Star Assurance vehicle packages
For clients to choose from, Star Assurance offers three policies: Third-Party, Third-Party Fire & Theft, and Comprehensive.
Star Assurance Contact details
Website:Star Assurance.
Head Office: 1st Floor, Stanbic Heights Building 215 South Liberation Link, Airport City, Accra.
Star Assurance Contact:+233-302-245906.
Email:sac@starassurance.com.
Conclusions
In conclusion, Insurers should improve their claim processing procedures in terms of the number of days it takes to process a claim.
Furthermore, car owners should be educated on car/motor insurance policies. This will increase their self-assurance while also providing them with a terrific deal on their automobile and a high return on investment.
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