Comprehensive insurance is a type of vehicle insurance that covers damage to your vehicle by causes other than a collision. This insurance covers your vehicle if, among other things, it is destroyed by a hurricane, destroyed by animals such as an elephant, or damaged in an attempted robbery. Hence in this article we share information detailed about the Cost of comprehensive insurance in Zambia which is one of the most searched questions on Google. 

READ: Regulation Of Insurance Companies in Zambia

Also, Comprehensive car insurance is aimed at protecting you financially against theft, disasters brought about by natural phenomena such as Cyclone Anna which nearly threatened Zambian not so long ago, and other damages that may not be caused by you. This insurance means that if a tree or a ZESCO pole falls on your car at night or a thief takes it away, you are not the one who has to pay for it but your insurer.

What is the cost of comprehensive insurance in Zambia?

Comprehensive insurance is designed to cover the cost of repairs to your vehicle that are not caused by an accident that you are involved in like a head-on collision or accidents of a similar nature.

COMPREHENSIVE INSURANCE COVER DEDUCTIBLES AND LIMITS

When you buy comprehensive insurance cover for your vehicle, you choose a certain deduction. This is the amount that needs to be paid by yourself for the insured claim. For example, you decide to take a K500 discount, and your car is later damaged by a natural disaster in a closed claim. If your car repair cost is K2,000, you pay a K500 discount and your insurance company will pay the other K1,500.

Comprehensive insurance cover has a limitation in terms of the amount to be paid for covered claims. A fully comprehensive insurance limit is usually the exact monetary value of the insured car.

For example, if your car is stolen, your insurance company will compensate you for the value of your car. In other words, if you want to replace your stolen vehicle with a newer make and model, you may have to spend some of your own money to top up on the amount that the insurance company compensates you for the loss.

Choosing a comprehensive coverage deductible

Your insurance company offers comprehensive deductibles for certain measures in increasing order such as K500, K1,000, or K1,500. Choosing a higher level of a comprehensive insurance policy usually results in lower premiums, which can save you money. Nonetheless, you may have to pay more from your own pocket for an insured claim. In like manner, choosing a lower comprehensive deduction means your insurance cover amount increases. Your representative can help you determine what cuts and limits will best suit your needs.

What comprehensive insurance covers

Every other accident that happens is peculiar on its own. Whether or not comprehensive insurance covers your accident depends on various situations. The following are some types of damage that can be covered by a comprehensive insurance cover.

Theft

Fire

vandalism

contact with animals

Falling or flying objects

Hailstorm

Damage to the windshield

Earthquake

Cost Of Comprehensive Insurance in Zambia

Comprehensive insurance does not have a fixed cost but rather depends on the value of the vehicle that the policyholder values his or her vehicle. Comprehensive insurance refers to the amount that the policyholder values the vehicle which is calculated by getting the value then multiplied by the percentage of the category where the vehicle belongs.

Cost of comprehensive insurance in Zambia [Answer] The average cost of comprehensive insurance for a vehicle in Zambia valued at K400,000 is K20,000 annually.

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