You can pay in installments through the bank where we have an arrangement for IPF (Insurance Premium Financing).
Upon deciding to insure with Jubilee, your vehicle with be inspected free of charge at any of the Jubilee approved centers.
Motor insurance protects the insured against financial loss in the event that the motor vehicle is involved in an accident, burnt or stolen.
There are three types of covers that can be issued to motor insurance:
a) Third Party: This policy covers third party bodily injury and property damage arising out of use of motor vehicle.
b) Third party Fire & Theft: This cover extends to cover theft, fire, third party bodily injury and property damage.
c) Comprehensive: This covers third party liability and property damage to the vehicle i.e. damage arising out of fire, theft and accidental damage to the vehicle.
Applicant is required to duly fill and sign the proposal form/ and return with the required documentation i.e. copy of I.D, Copy of PIN and a copy of the Log Book and/or other ownership documents.
Motor rates are regulated by IRA and are based on claim experience.
To join the PPP, complete the simple PPP Application Form and forward it to Jubilee together with a copy of your national identity card/passport, KRA PIN and the first contribution.
If provided for in your contract, in case of non-payment of premium, and the policy had acquired a surrender value, the company will automatically advance the amount of the premium and keep the policy in force.
It is important to note that the outstanding premium, including accumulated interest on the advanced premium will be deducted from any payments to be made to the policy owner or nominated beneficiaries.
In case of non-payment of premium, and the policy had not acquired a surrender value, Jubilee Insurance will allow reinstatement or re-date of policy if provided for in your contract, with interest on outstanding premium due, or a change of premium from the new policy effective date if your age has changed; and subject to submission of a health declaration form (medical reports may be requested for, if required). You may be required to pay the difference in premium, over the past years.
Please note to exercise this option at least 13 months prior to your policy maturity date, to avoid loss of your benefits.
Non – payment of premium will cause the policy to lose its value, and to automatically terminate without any future benefits payable.
It is important to ensure that you have set up reliable methods of making your premium payments, as you will suffer considerable loss in case you do not pay your premium
Your policy is used as the security against the loan. If and when the outstanding loan amount (plus interest) equals the surrender value of your policy, the policy will automatically terminate with no future benefits payable.