Union Assurance Motor Plan is classified under the non life insurance policy. The aim of this policy is to help cushion the effect of the risk and uncertainties involved with the use of vehicle. Such risk includes car accident, Fire incidence, Theft among others. Union Assurance Motor Plan is stratified into four:
1. Third Party Motor Policy
2. Third Party Fire and Theft Motor Plan
3. Union Assured Basic Cover
4. Union Assured Premium Cover
5. Union Assured Commercial Motor Cover
1. Third Party Motor Policy
The Union Assured third party policy is meant chiefly to compensate an individual whose vehicle was damaged by an insured policy holder.
Key Features
. Third party property damage up to N1,000,000
. Third Party Death and bodily Injury up to N60,000,000
. Rates includes Saloon Car N5,000, Bus N7,500, Truck N10,000
. Policy Duration is for a year
2. Third Party Fire and Theft Plan
The third party fire and theft plan is an improvement on the third party policy in that the inurance company compensates the insured when there is fire or theft to his vehicle.
Key Features
. Compensation for fire damage to the insured vehicle
. Compensation for theft of the insured vehicle
. Third Party Liability for bodily injury and death (limit of N60 million)
. Premium Payment = 2.75% of car value
. Policy duration is for one year
3. Union Assured Basic Cover
Key Features
. Accidental damage to insured vehicle
. Loss From Fire
. Loss From Theft
. Third party liability for property damage upto N1,000,000
. Third Party liability for for bodily injury upto N60,000,000
. Premium Payment = 3.5% of car value
. Policy duration is for one year
4. Union Assured Premium Cover
This plan also known as comprehensive comes with even better offer like personal accident benefit, medical expenses, free car tracking device among others.
Key Features
. Accidental damage to your vehicle
. Loss from fire and theft
. Third party liability for property damage up to N2million
. Third party liability for bodily injury and death upto N60million
. Insured personal accident benefit up to a limit of N100,000
. Insured medical expenses upto a limit N25,000
. Courtesy car for 10days in the event of an accident /theft to cars with insured value of N3million and above.
. Free vehicle tracking device for cars N3million and above
. Premium payment = 5% of car value
. Policy duration is for one year
5. Commercial Motor Cover
This plan is applicable to buses and large coasters used for commercial purposes
Key Features
. Accidental Damage to vehicle
. Loss from fire and theft
. Third party liability for property damage up to N1milliom
. Third party liability for bodily injury and death up to N60 million
. Premium Payment = 12% of car value to up to 50% discount
. Policy duration is for one year
To pick up this policy please call Michael Onjewu on 07032879723, 09053177096 or send a mail to michaelonjewu@yahoo.com or onjewumichael@gmail.com
Michael Onjewu is a Risk Advisor with Union Assurance PLC, Abuja.
