1. Do I really need to have insurance?
The only insurance that you need to have is liability insurance, that covers your liability to Third Parties as a user/owner of a motor vehicle as stipulated by law.

2. I find that completing a Proposal Form can be so tedious. Do I really have to complete one?
Yes. Here's why. The Proposal Form is used to obtain information that will give the insurer the opportunity to assess the proposal to determine whether or not to accept the risk, the premium to be charged or the terms to be imposed. It forms the basis of the contract between you and your insurer.

3. May I cancel my policy at any time?
Yes. You may cancel your policy at any time by advising us in writing

4. Will I be entitled to a refund of premium?
You may be entitled to a refund of premium depending on:

5. What is an Excess?
Excess is that portion of any claim, which you, the policyholder, will bear before your insurance company will pay. It can be a fixed amount, expressed as a percentage (%) of the sum insured or of the settlement amount. It is applicable to each and every claim, which you may make under your policy and is sometimes referred to as the ‘deductible'.

6. Is the Excess applicable per loss or per year?
How does the Excess affect the amount I receive for my claim settlement?
The policy excess is applicable to each and every claim that you make.

7. How does the Excess affect the amount I receive for my claim settlement?
The Excess is deducted from the amount of your actual loss and the balance left is the amount you will receive.

8. Does an Excess apply to my home insurance?
Yes. An Excess is applicable to most losses except losses caused by fire, lightning, and explosion and damage from falling aerials, fittings or masts.

9. At what value should I insure my house?
Your house should be insured for the cost of rebuilding the house as new.

10. Can I insure my contents?
Yes.

11. I live in an apartment building that is insured by the Management Committee of the Strata Corporation, however the complex is not insured for its full replacement value – can I buy additional insurance cover for my apartment only to “top up” the strata policy?
No. Under the Strata Titles Act, your apartment complex should be fully/adequately insured.

12. Can I insure my personal contents under the Strata Corporation's policy?
No. The Strata Corporation's policy is for the joint owners of the building in which you live and only covers items that are commonly owned such as the Building, Guard House, Swimming Pool etc.

13. I own a house on the North Coast and I allow short-term rental of it to holidaymakers. Can I get "Cover-All" insurance on it?
Yes. However, as the building is now no longer restricted to occupancy as a private residence, we disallow the Loss of Rent benefit and the Liability benefits.

14. What is a Motor Vehicle Certificate of Insurance?
It is a document issued by an Insurer, which provides proof of insurance in accordance with the Motor Vehicles (Third Party Risks) Law, CAP.257. It provides proof that you have complied with the law.

15. Can the same certificate be used to operate several vehicles?
No. A certificate is required for each vehicle and must identify the vehicle to which it relates.

16. How does a cover note differ from a certificate?
The Cover Note, though serving the same purpose as a Certificate, is a temporary document and has a lifespan of a maximum of thirty (30) days. It is issued by the insurer, pending the preparation of the more permanent document, the Certificate of Insurance.

17. How does the No Claim Bonus/Discount work?
This is a discount that you earn over the years. Each year the equivalent percentage is deducted from your gross premium. The maximum is usually earned after five years. It is transferable from one company to the next, from one vehicle to another and between countries, usually on receipt of an original letter from your previous insurer. In the event of a claim the percentage discount is reduced according to the Company's guidelines.

18. If my son is eighteen years old and recently acquired his driver's license, is he covered under my policy?
Your son is covered under your policy as long as his driver's licence permits him to drive such a vehicle. However, at the time of an accident, the Excess applicable will be increased due to his age and his driving experience.

19. Is my vehicle insured if I lend it to someone.
Your insurance certificate will state explicitly who is authorized to drive your vehicle. If it says any person driving with your permission then your insurance is valid if you lend that vehicle to someone provided that such person holds a valid driver's licence. However, in the event of an accident, the excess applicable may vary depending on the age and experience of that driver.

20. If my personal belongings are stolen from my vehicle, are they covered under my motor policy?
You will be compensated under your private car comprehensive policy for your personal effects up to a specified amount. These personal effects may include handbag, shoes, umbrella, cellular phone etc. However, money, stamps, tickets, documents and securities, goods, samples, or equipment carried in connection with any trade or business are not considered to be personal effects.

21. Does my motor policy automatically cover towing charges incurred as a result of an accident?
Once your vehicle is comprehensively insured the company will reimburse the amount spent for wrecker fee, subject to the maximum amount allowed under your insurance policy.

22. If my windscreen is broken can I make a claim without it affecting my No Claim Discount?
A single windscreen claim in any one policy year is the only claim you can make under your policy without affecting your No Claim Discount.

23. Does my insurance policy give me full protection against liabilities to third parties?
Your insurance policy provides indemnity against third party liabilities but subject to the maximum amount stated in your policy. In the event of a judgment against you in a court of law for an amount greater than that stated in your policy, your insurer will pay the amount of your policy, and you will be responsible for paying the difference.

24. Is there a grace period under my motor policy?
No. There is no grace period under your motor insurance policy. You must ensure that your insurance is current and valid at all times.

Please contact our customer service professionals or email us at info@bcic-jm.com if you require a more specific answer to these questions or to any other questions that you may have.