Motor Car Insurance

Motor insurance with Palm Insurance corporation is just like any other insurance policy, but unlike other insurances, it is ‘Mandatory'! And, as the name suggests, it is an insurance that is related to all types of motor vehicles-motorcycles, cars, jeeps, commercial vehicles etc.

Motor insurance has been made mandatory by the Liberian government for your safety and the safety of others. And the yearly premium you pay is just a meagre sum when compared to the advantages it has to offer you in case of, god forbid, any mishap.

Here’s yet another misconception many people have, Motor Insurance covers only the motor vehicle. Wrong again!

So first, let's start with the types of Motor Insurance policies, and by and large what they cover!

Motor insurance can be classified on 2 things

• The type of vehicle for which you are taking insurance
• The amount of coverage that you want to cover your vehicle for
So, what are the different types of vehicle insurances in Liberia based on the type of vehicle owned?

Private Car Insurance Policy

• This is motor insurance that needs to be taken for any private car owned by an individual and is mandated by the Government of Liberia. It covers the vehicle for damages against accidents, fire, natural disasters, and theft among others and also covers for any injury to the owner. It also covers any damages and injuries caused to the third party.

Commercial Vehicle Insurance
This insurance covers all vehicles that are not used for personal use. This type of insurance covers all those vehicles which are not used for personal purpose. Trucks, buses, heavy commercial vehicles, light commercial vehicles, multi-utility vehicles, agricultural vehicles, taxi/cab, ambulances, auto-rickshaw etc. are some vehicles that are covered under this insurance.

Types of Motor Insurance Policies in Liberia

Third-Party
Third-party insurance is one of the most common types of vehicle insurance; in which only damages & losses caused to a third-party person, vehicle or property are covered.

Comprehensive
Comprehensive insurance is one of the most valuable types of vehicle insurance that covers both third-party liabilities and damages to your own vehicle as well.

Third Party

Comprehensive

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