Third Party Car insurance is the mandatory minimum car insurance by law in Kenya for every automobile including Motorcycles and vehicles. Its an offence in Kenya to drive or ride without Third Party insurance proof. This can attract a fine of up to ksh 10,000 or more if involved in an accident.
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| Image courtesy: Jubilee insurance |
For it being mandatory , every driver must buy one, however many don't know how much it goes for in the market , that is where questions such as : How much is The Third party Car Insurance in Kenya? How much will I pay For PSV Third party insurance? How much is Third party Private Car insurance? How Much will a driver pay for Third party Commercial vehicle? How Much will Tax driver pay For Third party Insurance in Kenya? How much is Third Party Insurance for Boda Boda In Kenya? Well , these and much more are some of the questions Kenyans tend to ask or rather search on the internet for results. However to answer this question am going to give an approximate overview of the prices involved with Third Party insurance in Kenya as every Insurance company has different prices.
a) Third Party Insurance for Private Cars premium prices - This goes between ksh 5000 -ksh 7500 or slightly lower or higher.
b) Commercial vehicles such pickups and lories goes for ksh 7500 up to ksh 25000 per annum
c) PSV Matatus goes for approximately ksh 100,000 per annum
d) PSV Tax goes for approximately 9500 per annum
e) Motorcycle Bodaboda goes for approximately ksh 7500 per annum
Companies like Explico Motor Insurance give Bodaboda Third Party at ksh 5000 annual while Spurfin Insurance agents give Bodaboda Third Party at ksh 4500 per annum
N/B The above Third Party Insurance Charges are just approximations and are not permanent, drivers should check with individual insurance company or agents for proper prices guidance.
Requirements To Buy Third Party Car Insurance in Kenya
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Although some insurance agents /brokers companies might require more documents for you to buy Third party car insurance, these are the basic requirements:
1) Log book of the car to be insured/Registration Number
2) National ID for the owner of the vehicle/motorcycle
3) Valuation report
4) Third Party Car Insurance proposal form
Top 5 Factors Affecting Third Party Car Insurance prices in Kenya
There are several factors that can determine how much one can pay for The Third Party Insurance in Kenya but these are the top 5 factors insurance companies use to determine your Third party Insurance premiums:
2) Age of the driver - Young drivers ( below 25 years old) are considered risk drivers and are charged high premiums compared to middle aged drivers(30 yrs and above)
3) Driver's gender - Female drivers have less premiums as they are considered to be careful drivers
4) Claim history -Drivers with many claims are considered risk and have high premium rates
5) Use of Vehicle - Commercial vehicles are charged more compared to private vehicles.
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