About Jamaica Insurance

Introduction

There are several insurance companies in Jamaica that sell life insurance, health insurance, home insurance, and motor vehicle insurance. As in any other country, having insurance in Jamaica can be very expensive. So you would have to "shop around". First, choose the type of insurance coverage that suits you best, then contact the various insurance companies in Jamaica and let them give you a quote. There are two major life insurance companies in Jamaica, Guardian Life Insurance and Sagicor Life insurance.

Life insurance is the monetary amount that is been paid out when the insured person is dead. This money can be used to cover funeral expenses. No you really plans to die, but sometimes when it does happen, the relatives left behind usually have a hard time to cope with the lost of their loved ones and finds it diffcult to take care of the funeral expenses. you has to ensure that the policy is not lapsed, meaning you has to make monthly payments on time just in case unforeseen things do happen.

History

These cover motor vehicle accidents, health insurance and home insurance. Motor vehicle insurance in Jamaica is very expensive In order to have your vehicle insured at a Jamaica Insurance Company, the vehicle cannot be older than six years old. In Jamaica as with other countries, if you are driving your vehicle without insurance coverage, then you are liable to go to jail. It is totally against the law to drive and uninsured vehicle. Some companies offer roadside assistance. Each Jamaica Insurance provides an insurance policy, ehich is a contract between the insured, which is you and the insurer, which is the Insurance company. The company will agree to cover the cost of certain risks that you incurred. The policy will tell you, the limits and liabilities.

There are 3 different types of motor vehicle policies in Jamaica. Third party policy covers the insured 3rd party, in respect to accidents, death, injures to the body or damages to property. Third party policy against fire and theft. It covers the total loss or damage to the insured vehicle in case of a fire or theft. It also includes death and bodily injuries. There is also a Comprehensive coverage which includes a complete coverage of Third party and Third party policy against fire and theft. That policy takes everything into consideration, it is a full coverage. Whenever you open a policy with the Jamaica Insurance, then you will be provided with a Certificate of Insurance. Keep it in a safe place,because that is your proof of insurance.

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