Motor Insurance
Motor insurance provides financial protection against losses incurred due to damage to an insured’s vehicle or third-party liabilities resulting from accidents.
Types of Motor Insurance coverage:
Comprehensive Coverage (All-Risk): Protects against damage to the insured vehicle (own damage) and third-party liabilities.
Own Damage includes:
- Accidental external means (e.g., collisions).
- Fire or explosion.
- Theft
Total Loss Only: Covers the loss of the vehicle only in the following scenarios:
- Theft of the vehicle.
- If the cost of repairs exceeds 65% of the vehicle's value at risk.
- Fire
Third Party Liability: Covers damage caused to third parties (persons or property) by the insured vehicle.
Divided into two categories:
- Bodily Injuries: Covers injuries caused to third parties as per the Motor Compulsory Law Decree 105.
- Material Damages: Covers damage to third-party property
