M A G A Z I N E
Your insurance FAQs
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What do we insure?
SWAN is the leading provider of insurance covers and financial
products in Mauritius. As part of its portfolio, the company provides
insurance for various types of private and commercial vehicles.
There are four main types of motor cover tailored to provide
excellent protection and convenience to customers, be they
individuals, entrepreneurs, businesses or corporates. Cover options
span from motorcycles all the way up to special type vehicles.
Why do we need to
insure vehicles?
As per the Road Traffic Act of 1962,
it is an offense for anyone to use,
cause or allow anyone to use a motor
vehicle without a valid insurance
policy for such vehicle. Road traffic
accidents often lead to several
inconveniences, unplanned expenses
and liabilities. Insurance is therefore
an efficient risk transfer mechanism
that allows the vehicle owner to pay
a small premium in return for cover
against loss or damage to the vehicle.
What motor insurance
offers do we have?
What is the “Excess”?
SWAN offers four basic forms of motor
insurance covers. These are Third Party Only,
Third Party Fire and Theft, Comprehensive
and Motor Traders Insurance.
For which value must one
insure his vehicle under his
Motor Insurance Policy?
What are the main
extensions of cover?
Comprehensive cover may be extended to include
numerous benefits, which cover inconveniences
associated with vehicle misfortunes. Loss of use,
personal accident and roadside assistance are
some common extensions required by clients.
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MAR 2019 N o 6
An excess is the amount contributed by the insured
towards repair or replacement costs of a vehicle after
a loss. Excesses are a standard policy component; they
help lower insurance premiums by allowing the insured
to carry a small fraction of the loss.
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The purpose of insurance is to place the insured in the
same financial position they occupied immediately
before the loss. In order for this important principle
of insurance to work effectively, all classes of motor
vehicles must be insured for a value equal to the market
value. In the event that the sum insured is less than the
market value at the time of loss, the insurer will apply
average on the amount claimed.
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