Last Updated: August 20, 2022

Information required for new insurances

  • Vehicle Registration number
  • Make/Type of vehicle
  • Year of Manufacture
  • Cubic Capacity
  • Seating Capacity
  • Chassis Number
  • Color of vehicle
  • Sum Insured

Note: Alternatively, we will require the sum insured and the DVLA registration booklet where all the relevant details can be obtained

Information required for vehicles already Insured

  • Certificate of Insurance
  • Policy Schedule showing details of the vehicle and prevailing discounts

Footnotes on the Premium Calculator

  • At cell C14, the Own Damage rate to be implemented is 7%
  • At cell C15, Cubic Capacity loadings should be 0%
  • At cell C16, Old age loadings should be applied as follows: 5% for vehicles 10-14 years old; 7.5% for vehicles 15 years old and above
  • At cell C20, the TPPDL is GHS 5,000 per vehicle which is the statutory minimum limit. This can be adjusted upwardly (to say GHS10k, 20k, … 50k) at the option of the insured for an extra premium.
  • At cell C48, the Umbrella Third Party Property Damage Limit (TPPDL) is GHS 1m and the applicable rate is 1%. In the calculator, this should be presented as optional.

No Claim Discounts (NCD)

  • If the vehicle is registered in the year of underwriting (currently 2021), apply a rate of 0%
  • If vehicle is registered in the year preceding the underwriting year (i.e., 2020), apply a rate of 15%
  • If vehicle is registered 2 years prior to the underwriting year (i.e., 2019), apply a rate of 20%
  • If vehicle is registered 3 or more years prior to the underwriting year (i.e., in or before 2018), apply a maximum rate of 25%

Selling Points to the Customers

  • The driver of the rented vehicle shall be entitled to a maximum personal accident benefit of GHS 5,000 should they suffer permanent disablement or death resulting from an accident to the vehicle.
  • The policy shall further pay up to a sum of GHS 1,000 for medical expenses incurred by the driver of the rented vehicle as a result of an accident to the vehicle.

Selling Points to the Providers (Owners)

  • The policy shall pay up to a sum of GHS 10,000 as personal accident benefit if the provider or any person authorized by the provider to drive the vehicle at the time of the accident suffers permanent disablement or death as a result of an accident to the vehicle.
  • The policy shall further pay up to a sum of GHS 2,000 for medical expenses incurred by the provider or any person authorized by the provider to drive the vehicle at the time of the accident.
  • The policy shall pay the provider up to GHS 20,000 for their legal liability for damages to Third Party properties arising from the usage of the vehicle.
  • In the event of death, the policy shall additionally pay up to a sum of GHS 10,000 as funeral expenses to the family of the deceased driver.
  • Upon the happening of an accident, the policy shall also compensate the provider for loss of rental income in the amount of GHS 250 per day for a maximum of 14 days commencing from the day the vehicle checks in at the workshop for repairs.
  • The policy further provides a fleet discount of 15% for all its members.

Security Deposit

What is the security deposit for self-drive vehicle rentals?

A security deposit of GHS500 or 25% (for rentals of 5 days or more) is required before vehicle pick up.

The security deposit is intended to cover potential damages, additional charges, or fees during the rental period.

Yes, the security deposit amount may vary based on the duration of rental and rental agreement terms.

The security deposit will be refunded in full upon the return of the vehicle in the same condition it was provided, and when all rental agreement terms have been met.

Any deductions from the security deposit will be made in accordance with the terms outlined in the rental agreement.

Ensure you have the necessary funds available for the security deposit before picking up your rental vehicle. Various payment methods are accepted.

Yes, our rental staff will provide detailed information on the deposit amount and payment options when you arrive to pick up the vehicle.

If you have any questions or need further clarification, please contact our rental office. We are here to assist and ensure a smooth and secure rental experience.