MOTOR/AUTO INSURANCE

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Required by law under the Motor Vehicle Insurance (Third Party Risks) Cap 51:03

 

Typical Types of Cover:

1. Comprehensive also referred to as Full Cover: This policy covers collision, fire, theft and other accidental damages to your vehicle, as well as liabilities to third parties for damages and injuries.

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2. Third Party Cover: This policy provides coverage for damages to Third Party property and bodily injuries. 

Motor insurance also offered for travel to Suriname

 

FIRE

Fire & Named Perils

This type of insurance provides coverage against loss or damage as a result of Fire and Lightning.

Named Perils:

Flood

Riot and Strike

Malicious Damage

Explosions

Impact Damage

Aircraft Damage

Civil Commotion

Overflow of the Sea, River, and Ocean

Earthquake

Volcanic Eruption

Hurricane

Cyclone

Tornado

Windstorm

Storm & Tempest

Bursting or Overflowing of Water Tanks

Bush Fire

Spontaneous Combustion

Smoke Damage

Subsidence & Landslip

Water Damage

Tidal Wave

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Contractor’s All Risk

Contractor’s All Risk is a non-standard insurance policy that provides coverage against losses or damages caused to property by Fire, Theft and any other insured perils under the policy.

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Consequential Loss/Business Interruption

This type of insurance covers loss of income that a business suffers as a result of a Fire or any other insured peril.

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Householder’s Comprehensive

This insurance protects your private home and contents in the event of loss or damage caused by Fire, Theft and any other insured peril. It also provides liability coverage for domestic employees and members of the public who are permitted on the premises.

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Renter’s Insurance

This is a type of property insurance that provides coverage for client’s belongings and is available to persons renting a home/an apartment.

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Property All Risk

This type of insurance covers loss arising from any fortuitous cause except those losses that are excluded. It is a wider cover than a Fire and named perils insurance.

 

ACCIDENT AND LIABILITY

Burglary  

This insurance covers loss of or damage to the property insured or any part thereof while contained within the premises by theft involving entry to or exit from the premises by forcible and violent means by the persons committing the theft.

 

Employer’s Liability

This provides financial compensation for accidental death/bodily injury (including illness or disease) to employees arising out of and during the course of their employment, where such injury results from the employer’s negligence.

 

Public Liability

Public Liability insurance provides financial compensation for accidental death/bodily injury (including illness or disease) to third parties or loss of or damage to third party property arising out of the activities of the insured during the course of their business.

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Computer/Electronic All Risk

This policy provides coverage for your Computer/Electronic Equipment against losses by Fire, Theft and any other insured perils.

 

Plant, Machinery and Equipment All Risk

This cover protects Plant, Machinery and Equipment against Fire, Industrial Explosion, Theft and any other accidental damage.

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Goods-in-Transit

This type of coverage insures goods whilst in transit in or on a vehicle from one location to another.

 

Plate Glass

This covers accidental breakage of glass which is situated at the insured premises from any cause except those specifically excluded under the policy.

 

Cash-in-Transit and on Premises (Money Insurance)

This policy provides coverage for loss of money in transit to and from the bank and/or insured premises. Also covers loss of money on business premises in safe or out of safe up to specified limits.

 

Fidelity Guarantee

This protects a business owner from theft by employees which includes money and/or stock.

 

Bonds

A Bid Bond is a bond secured by a bidder for a construction or supply project as a guarantee to the project owner that the bidder will execute the project if awarded.

 

A Performance Bond is issued by a bank or insurance company guaranteeing the fulfillment of a particular contract.

 

A Mobilisation Advance Bond is required when the owner is advancing money towards the contract and secures the repayment of the advance by means of a bond.

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Boiler and Machinery

This is a type of speciality insurance which covers property damages as well as third party liability.

 

MARINE

 

Marine Cargo

This insurance provides protection against physical loss or damage to cargo from any external cause during shipping whether by sea or air.

*Subject to policy exclusions.

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Marine Hull

This is a type of ocean marine insurance which covers loss or damage by a peril of the sea to a vessel and its machinery and equipment situated thereon.