Which is the best motorbike insurance policy in kenya ? The motorcycle market in Kenya has grown exponentially in the last 5 years owing to the increasing traffic nightmare in urban centres and the low cost for the rural areas.
BEST MOTORBIKE INSURANCE POLICY
1.Equity Bank Motorbike insurance policy ( Bima ya Boda boda / Tuktuk )
For motorcycles, a comprehensive cover is offered by Equity insurance. This is an enhanced cover that protects you against the third party’s death, bodily injury and/or property damage as well as loss/ damage to your vehicle due to accidental fire, theft or an accident. It also incorporates a personal accident cover for the rider.
They only offer comprehensive insurance for Sh 4,500 (six months) and Sh9,000 annually
2. Allianz Insurance Company of Kenya Limited
We offer comprehensive covers for motorcycles as part of our motor commercial policies. We have designed competitive motor insurance products for individuals and companies who love and use motorcycles. We have assembled the best team of insurance professionals who will take time to understand your needs and will also ensure you get the best policy possible in the Kenyan market.
3. XPLICO motorcycle insurance policy
It is one of the oldest Insurance companies in transport sector. Annual Comprehensive and Third Party XPLICO motorcycle insurance goes for Sh7,200 and Sh5,000 respectively.
4. KCB motorbike insurance policy –
The new product offers motorcycle comprehensive cover, a motorcycle third party cover, and a hybrid motorcycle third party plus Personal Accident extension.
The comprehensive cover also offers indemnity against loss or damage to motor cycles by accident, theft, fire, malicious damage (including accessories), liability to third parties and passenger liabilities arising out of use of motor cycles owned or operated by the insured and attracts a premium of Sh6,576.
With additional premiums to the motorbike insurance policy of Sh1,000, Personal Accident cover for the rider can be extended. A Key feature on Personal accident cover is enhancement of the last expense benefit to include both accidental death and natural death.
Third party PSV cover which is mandatory required by law offers indemnity against injuries or damage to third party’s property and passenger liabilities arising out of use of motor cycles owned or operated by the insured and attracts a premium of Sh3,560, while the hybrid third party PSV Cover offers combines the Mandatory cover and Personal Accident at a premium of Sh4,560