An upward review of the minimum premium for third party motor insurance announced by the Ghana insurers association (GIA) yesterday has created dissatisfaction among the motoring public.
The new policy, which would make private saloon car owners pay a minimum premium of GH¢1.60 daily would culminate in about GH¢584 annually instead of the GH¢183.70 old tariff.
For taxis, they would pay GH¢1.45 daily, which amounts to about GH¢529 in a year, while a 55-seater bus would pay GH¢2.96 a day, about GH¢1,080 per annum.
Additionally, commercial vehicle owners would have to pay GH¢2,000 to cover third part property damage.
On this issues, Rite FM interviewed the Ashanti regional area manager for Star Assurance an insurance company ,Mr. Eldon Otu who also revealed that, the third party insurance does not cover the driver and the bus conductor (mate) but rather, the passengers on board in case of any accident.
Mr. Otu stressed that, car owners are to insure the driver and the bus conductor either by the personal accident policy (PA) or the work man compensation policy. Moreover, motor insurance depends on the type and age of a car.
He therefore advised drivers to adhere to the new premium charges because, it is at their (drivers) advantage, and it will enable the insurance companies to also carter for accident victims
Meanwhile the general secretary for Ghana transport coordinating council (GTCC) Al-Haji Aliu Baba (Al-Haji Superstar) has advised drivers not to register or renew their insurance because it only takes a month for an insurance company to be registered therefore they (GTCC) will soon establish an insurance company to cover both drivers and the bus conductors (mate).
He stated that, the same issues occurred sometime ago where they (drivers) met the PROs of the insurance companies which they all came to a common agreement that, whenever there is a new tariff, drivers should be consulted first before any increment but GIA refused. “Even though insurance is a good thing, the percentage is too much”. He lamented.
Source: ritefmonline.org
