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TOP Commercial Car Insurance Companies in Kenya 2017/2018

Posted on 2018-04-09 in: Car Insurance in Kenya
TOP Commercial Car Insurance Companies in Kenya 2017/2018

Car insurance remains a mandatory requirement in Kenya for motors before one can take their vehicle on the roads. The minimum insurance required is the third party motor insurance in Kenya according to the Kenya Traffic Act Chapter 405 

Owing to the fact that a car is one of the most prized assets for any individual and the mandatory requirement by the law, car insurance in Kenya is the biggest line of business ahead of medical insurance accounting for KSh 44 billions compared to medical insurance business of KSh 38.5 billions total premium. The combined premium for motor insurance can be broken down further into private motor insurance at KSh 21 billions and commercial motor insurance totalling to KSh 23 billions. The difference between these two sets of motor insurance is the usage of the vehicle being for private or social means and the other being for commercial/paid endeavours. In most of the reporting by the Insurance Regulatory Authority (IRA) and Association of Kenyan Insurers (AKI), figures for the motor commercial insurance also include the PSV motor insurance segment. While comprehensive car insurance remains the most popular, a sizeable premium share still remains for third party car insurance quotes in Kenya.

Car insurance in Kenya has traditionally been one of the most loss making classes of insurance businesses in Kenya with the private segment among the worst performing of all. Due to the cut throat competition by over 40 general insurance companies in Kenya, the pricing has been dramatically undercut across the board pushing the underwriters into deeper and deeper loss territories. Despite efforts by the IRA to regulate the sector and carry out enforcement, it has yielded little results.

There are two main types of commercial car insurance in Kenya namely

Own goods carriage: This covers vehicles used by the insured to cover the vehicle used for transportation for their own goods.

General cartage: This is similar to the own goods carriage except here the vehicle can be used to carry goods not belonging to the insured. These types of vehicle may be leased to transport goods, this is common with transport companies that own fleets of lorries, trucks, tankers, trailers and more for hire.

The commercial car insurance in Kenya has a multitude of benefits covering the vehicle including but not limited to the following

Among the most common motor commercial insurance packages in Kenya are the CIC Motor Commercial Plus, Orient Motor Commercial, AMACO Merchant Commercial, UAP Old Mutual Motor Commercial Trucksure and many more

Some of the optional benefits for the commercial motor insurance include :

  • Excess  Free
  • Free  Alternative  Transport
  • Free  Political  &  Terrorism  Risk  Cover
  • Container  Insurance
  • Free  Tracking  Device
  • Tracking Services
  • Authorized Repair limit now at
  • Alternative accommodation for two persons
  • Excess protector not required…
  • Alternative hire/transport free
  • Towing
  • Recovery
  • Windscreen
  • Entertainment
  • Alternative accommodation
  • Radio / CD Player
  • Medical expenses
  • Authorized repair
  • Annual Valuation
  • Free alternative Transport of goods
  • Third party property Damage
  • Passenger Legal Liability

Loan repayment facilitation: The policy compensates the insured in case of an accident by paying out the monthly repayments on any loan that is attached to the insured vehicle.

Personal accident cover for driver and loader: In case of accident, the two may be paid out for emergency medical expenses, disability and death benefits also apply.

Carriers Liability: The insured is indemnified against any liability arising from carrying goods in the insured vehicle.

Alternative accommodation: In case of accident, the driver and loader can be reimbursed for accommodation for 1 night

Motor Insurance Company Premium (KSh Billions)
DirectLine 3.1
CIC General Insurance 2.5
Invesco 2.1
APA 1.85
Madison 1.2
UAP Old Mutual 1.1
Kenya Orient 0.76
AMACO 0.76
ICEA Lion 0.75
Jubilee Insurance 0.75

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