Insurance is a contract, represented by a policy, in which an individual or organization (you) receives financial protection or reimbursement against losses from an Insurance Company. The transfer of risk to insurers (Insurance Company) is done at a small price often referred to as premium.
Only Motor Insurance is compulsory. One would be contravening Chapter 405 of the Statute Laws and is liable to a fine or imprisonment.
A broker has in-depth knowledge of risks, products, the Insurance market, rates, processes and has diverse networks in the industry. You don't have to go through the hustle of researching different Insurance Companies and learning all the finer details because that's what a broker does for you. They are well-educated, experienced and want you to make the best-informed decisions.
Yes, but it is subject to the terms and conditions of your cover.
Failure to pay Insurance premiums as stipulated in the policy amounts to breach of policy terms and conditions and leads to the termination of the contract. This also means that you cannot make a claim.
If you have a life insurance policy and the Insurance company is closed down, your policy remains valid and you should continue paying policy premiums throughout the remaining term of the policy. Failure to continue paying premiums leads to termination of the policy by the Insurance company. You have the right to claim under the policy immediately the policy matures.
Yes, upon prior notice to the insured. However, no notice of cancellation is effective unless it is based on the occurrence, after the effective date of the policy, or one or more of the following:
* Non-payment of premium.
* Discovery of fraud or material misrepresentation.
* Physical changes in the property insured which results in the property becoming uninsurable.
* Discovery of willful or reckless act or omission increasing the risk one is insured against.
* Conviction of a crime arising out of acts increasing the risk insured against.
Motor Vehicle Insurance
1. Do not admit liability, inform VIVA 365 Insurance Brokers immediately - Call 0709 159 000
2. Take details of the other vehicle; car registration, the driver and Insurance company involved
3. Take photographs of the accident scene immediately
4. Report the accident to the nearest police station immediately
5. Move to a safe place - ideally the closest police station to you
Click here for more details on how to make a motor claim.
No, Motor Insurance policies are not transferrable to another person because they are personal in nature.
No, it is not. Using an uber as a private car is a breach of contract. This is because an uber is taxed under the PSV vehicle class and hence can only use a PSV Insurance Sticker. If you use a private car as an uber, your claim is not payable.
There's an additional benefit as a comprehensive car holder whereby if your car is involved in an accident, you can get a courtesy car to use for around 10-30 days (dependent on your policy) while yours is in repair.
Yes. A broker liaises on your behalf with the insurer to get the best outcome for you. They assist you with filing a claim and doing a follow up until the claim is sorted and your life resumes to normal.
You will need to report any loss or damage to VIVA 365 Insurance Brokers - 0709 159 000 or the Insurance company in time. Ensure that you submit all the necessary documents requested by your Insurance company. We will all co-operate to facilitate the smooth handling of your claim.