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Should I report all Motor accidents to the Insurer?
Yes you should. Even if the accident appears minor, it is important that you let your insurance company know about the incident. If you have an accident but don't report it to your insurer, you are taking a risk, even if the damage seems minor. If the other driver sues you weeks or months later, your failure to report the accident might cause your insurer to refuse to honor the policy. And even if they do honor the policy, the delay will certainly make it harder for the insurer to gather evidence to represent you.
What are my responsibilities to the Insurance Company if I do have a fire at my home?
There are 4 simple rules to follow:
  • Take all reasonable steps to protect the property from further damage
  • Make immediate reasonable and necessary repairs to protect the property from further loss
  • Keep an accurate record of any repair expenses
  • Give notice to your insurer or agent as soon as practicable.
    What are the advantages to using an agent to purchase insurance?
    By using an agent to purchase insurance, the policyholder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and can prove absolutely necessary when filing a claim. Also, when you buy the policy direct from us, we assign a workgroup to your policy to assist with all your questions, challenges and claims. Either way, you get the best of customer service from GLICO GENERAL.
    What exactly does the term BODILY INJURY in a liability insurance policy
    This refers to the injury, sickness, disease, or even death, of any person that occurs during the policy period following an accident.
    What factors determine the premium amount?
    • Make and Model of the Vehicle
    • Year of Manufacture
    • Place and year of Registration
    • Current Showroom price of the vehicle
    • Whether Client is Individual or Corporate
    • Location / residence
    • Market value of the property being insured
    • Use of the property (commercial/private)
    What factors should I consider when I insure my HOUSE?
    Your house represents your investment, hence taking a house insurance means protecting your valuable investment and its contents. To insure your house therefore, one needs to consider the value of the building, the location of the building (flood prone area, high crime rate) Once you have decided on the coverage you want in your insurance policy, contact us on .

    We will be able to help you determine if there are any gaps in coverage you might not have been aware of. We can also explain the details of the policy's exclusions and limitations as well as recommend additional cover you may have not readily thought of.
    What is Motor Insurance and why it is important?
    Motor Insurance is a protection against losses which arise due to legal claims made by a third party in case of an accident caused by you or losses which arise as a result of manmade/natural calamity to you, your vehicle and co-passengers.

    Motor insurance is an insurance purchased by the owner of a mechanically propelled vehicle to cover losses due to accidental damage, fire or theft as well as death or bodily injuries sustained as a result of an accident arising out of the use of the vehicle on a road. It is a legislative requirement under the Ghana Road Traffic Act 1958 for all vehicle owners to have an insurance policy that covers their legal liability for injury and /or death to third parties.
    What is required for Motor Insurance?
    You must tell your insurer everything that is relevant to your insurance. If you don't, then you risk having your policy getting void or being left out without cover. insurers need to know all your details, your driving history, car user, car details and location.

    Insurance is provided on an utmost good faith; hence, the insured is liable for any information provided to the insurance company. It is therefore necessary to declare any relevant information in respect of the cover being requested, usually by means of Proposal Forms. This will include ones personal details, vehicle details and driving history. Any incorrect information provided by insurer's may render the policy defective and may result in inability to make a successful claim.
    When is a car “written off” by an Insurer?
    The decision to repair, replace or pay cash for any loss of property to the insured lies with the insurer. In practice, most standard auto policies will not pay to repair a vehicle if the cost of repairs is more than 70% of the sum insured thus will be declared a total loss. Nonetheless insurers would rely on the expert advice of engineers and/or surveyors to declare a vehicle total loss.
    Which provides a wider cover-Comprehensive or Third party
    Comprehensive motor policy is better as it provides both third party coverage and damages/loss to one\'s own vehicle, co-passengers or self.
    Why do I have a deductible?
    Deductibles serve several functions.
    • Shifting the cost of small claims to the person buying the insurance (insured)
    • Enables the insurance company to reduce premiums.
    • Adjusting claims for small amounts often costs more than the value of the claim.
    • A deductible on a policy gives the owner of the property some degree of responsibility to protect his/her property.
    • The cost of insurance would be much higher if there were no deductibles.
    • The higher the deductible, the lower the premium.
    Why do premiums vary between different insurance companies?
    Insurance companies work with different statistics and use different methods to calculate premiums. Some companies are specialized in certain areas or types and so are prepared to give discounts in those areas. This adds to the complexity as various companies yield varied prices.

    Premiums are quoted based on the risk being insured. The greater the risk, the higher the premium quoted. Hence, depending on the cover being provided, different insurers may assess the same risk differently and thus the differences in premiums between different insurance companies. Insurance premiums are also computed on basic, with Loadings and discounts. Premiums are likely to be the same for classes of business subject to Tariffs.