There has been a rise in special car insurance schemes for lady drivers in Kenya, products that are of much better value to the customer. These have benefits similar to traditional comprehensive motor insurance policy but they also include many add-ons that are targeted at lady customers at great discounts. In this article why ladies enjoy these exclusive packages and the most popular ladies car insurance products on the market in Kenya.
Why Ladies Car Insurance?
All across the world from the least to the most developed countries, ladies have been proven to statistically be better and safer drivers. This has resulted in insurance companies extending discounted pricing on car insurance policies not just here in Kenya but overseas as well. It is because of the reasons below that ladies enjoy these special pricing and packages:
- They drive for less hours
- They drive at lower speeds
- They rarely drive at night
- They are more cautious on the road
- They have fewer impaired driving convictions
- They take good car of their vehicle (repairs and storage)
In analysing the factors above, it was concluded that female drivers are have a much lower accident frequency, have less speeding tickets than their male counterparts. In fact, global statistics show that speeding is more likely to be a factor for men (24%) than for women (15%). Lastly, female car insurance policy holders are less likely to drive impaired or under influence of alcoholic substances (DUI). A research conducted in the USA, the FBI reported that 716,398 men were arrested for DUIs compared to 221,778 women in 2010.
However, for women in the UK and the EU, it is no longer possible to get a discount on insurance policies. The European Court of Justices’s gender ruling came into effect in December 2012 and had a huge impact on car insurance for women. It made it illegal for insurance companies to discriminate on price by using the gender of the applicant.
In Kenya, there are 2 popular car insurance products for women:
Lady Jubilee Car Insurance
Jubilee insurance offers many types of car insurance for private, commercial, PSV and special purpose vehicles. It also offers the Lady Jubilee Motor Insurance exclusively for Kenyan ladies. It is a full comprehensive cover with added benefits on top of the asset and liabilities cover.
The Lady Jubilee cover has 3 options that are based on the value of customer’s motor vehicle
Bronze: For car value below 1,000,000
Silver: For car value between KES 1,000,00 to KES 2,000,000
Platinum: For car value that is above KES 2,000,000
In addition to the traditional car insurance cover, it also has the following benefits on the policy
|Handbag contents||AA Road Rescue|
|School fees on death||Lady Jubilee Gift Pack|
|Home content insurance||Aga Khan Medical check-up|
|Personal accident cover for insured||Excess protector|
|Accommodation after accident||Shopping vouchers|
|Forced ATM withdrawal||Preloaded OIL Libya card|
The cost of the Lady Jubilee cover is at 5% of the value of the insured vehicle with the minimum premium as KSh 20,000. With all the extra packed benefits on the policy, it makes the product very much value for money.
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CIC Lady Auto Car Insurance
CIC Insurance much like Jubilee also offers an exclusive product for ladies in addition to the other motor insurance packages for all customers.
The CIC Lady Auto motor insurance package contains the following benefits
- Courtesy Car
- Maximum of 24 days subject to an excess of the first three days
- Personal Accident Cover
- A shared Personal Accident cover for the nuclear family as a result of incidences involving the insured motor vehicle with the following benefits:
- A shared last expense cover for the nuclear family of Kshs. 100,000 as a result of incidences involving the insured motor vehicle.
- A personal Accident cover for one indoor employee whilst travelling in the insured motor vehicle with the following benefits.
- Trauma Counseling for persons involved in any incident• Reimbursement of third party medical expenses incurred up to maximum Ksh 50,000/-
- Replacement of Lost Car Keys following partial theft Up to a maximum of Ksh 5000/-
- Forced ATM Withdrawal Maximum Limit Ksh 15 000/-
- 24hr roadside assistance services countrywide and defensive driving and road safety seminars for AA Kenya members.
The insurance rates for this product start at 5% of the sum insured with a minimum of KSh 30,000. Vehicles to be insured on this product must not be more than 12 years old.
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Prices start from KSh 20,000 per annum!