Occidental Insurance Company has given a directive to its agents and brokers ceasing the covering of 25 vehicle make and models due to unavailability of spare parts.
In a letter written to the agents and brokers, the Insurance company cited rare and expensive spare parts of the said vehicles as the reason behind the move.
Spare parts of some vehicles have become rare and or obsolete and have therefore proven to be a challenge when settling claims. We will therefore not underwrite these kinds of vehicles to ensure smooth running business and excellent client experience,”read the letter dated February 14.
Models of Suzuki, Honda, Mazda, Hyundai and some varieties of Toyota for a major segment of the vehicles the company will not give cover for. The Toyota models whose cover will not provided include Prius (Hybrid) and Opa. The full list of the vehicles is provided at the end of this article.
In the letter signed by the company’s Senior Underwriting Officer David Mankone, the company also prescribed an age limit for the private and commercial vehicles it will insure going forward.
“Further, please note that all the vehicles covered on comprehensive basis shall be converted to Third Party only upon renewal and kindly adhere to same. All comprehensive vehicles must be up to 15 years of age for private vehicles and 12 years for commercial vehicles,” the letter said.
As per the government’s plan to restrict ages of car imports, cars arriving at eight years old will only be insured for seven years by Occidental while commercial pick-ups will only have four years. Agents have been asked to provide third party cover, a cover that does not include repair costs, to these vehicles.
Here is the full list of the cars whose cover will not provided by Occidental Insurance Company:
Suzuki
Swift
Alto
Escudo
Honda
HRV
Crossroad
CR-Z
Insight Hybrid
Toyota
Gaia
BB
Opa
Vioz
Voltz
Prius Hybrid
Mazda
Axella
Premercy
Tribute
CX7
Verisa
Familia
Subaru Exiga
Ford Escape
Lexus Saloon
Daihatsu all models
Hyundai all models
Renault all models
