Sanlam General Insurance

Comprehensive Car Insurance

Car insurance · Regulated by the IRA

What is this?

It covers your car for a year. It pays for damage, fire and theft, and for harm you do to other people.

What it costs	4.25% of your car's value
What makes up the minimum	KES 37,500 + 6,500 AA + 8,100 courtesy car
What you pay on a claim	2.5% of the car's value, at least KES 30,000 and at most KES 100,000
If the car is stolen	You lose 10% of its value if it had an anti-theft device fitted, 20% if it did not
Young or new driver	Another KES 5,000 on every claim
Third party only, if you prefer	KES 7,500 a year
Who actually pays a claim	Sanlam General Insurance. Standard Chartered only sells it
The rate in full	4.25% of the car's value, or 3.5% if it is worth over KES 2.5 million

Admin charge	KES 6,500
Taken off each payment you make	KES 8,100

The cover stops. You get nothing back, and driving without cover is against the law.

There is nothing to take out. This is cover, not savings.

It could work for you if

You want to know the price before you ring anyone. Very few car insurers here print one.

Think twice if

Your car is worth little. The KES 52,100 floor is more than 4.25% of a cheap car.

ATells you what it costs

12 of 12 answered

What do they charge you every year?
This kind of charge does not exist on this product.
What is taken off the money you pay in?
This kind of charge does not exist on this product.
What does it cost to get out early?
There is nothing to cash out, so there is no exit charge.
What is the smallest amount you can start with?
KES 52,100.
How long is your money tied up?
Not applicable to this kind of product.
Is the advertised return before or after their charges?
This kind of product does not advertise a return.
Do they warn you the return is not guaranteed?
This kind of product does not advertise a return.
Do they tell you what you get back if you stop early?
You get whatever your money is worth on the day. There is no schedule.
Do they list what is not covered?
Yes, 3 things are listed.
Are all their charges published?
Yes, every charge they mention has a figure against it.
Do they say who regulates them?
Yes — the IRA. That is who you complain to.

This grades how openly things are explained, not whether the plan is good or bad. See how we work it out.

· The published minimum of KES 37,500 is not what you pay. Two fees are bundled with it, making KES 52,100.
· Below a car value of about KES 1.23 million the minimum bites, so the 4.25% rate stops being the price.
· Riot and terrorism damage is included here. Many policies leave it out.
· Standard Chartered sells the policy, Sanlam General carries the risk, and the IRA supervises Sanlam General.
· You pay the first part of every claim yourself. On damage that is 2.5% of the car's value, at least KES 30,000.
· Theft costs you 10% of the value if an anti-theft device was fitted, and 20% if not.
· A young or inexperienced driver adds KES 5,000 to any claim.

There is 1 other plan of this kind on the board. See all 2 side by side — what each one leaves you with, and which of them will not say.