Motor Insurance
Motor Insurance
A motor or vehicle insurance policy protects the owner of the vehicle against financial loss due to vehicle damage or theft and also covers damage caused to third parties or property. Motor insurance dominates the insurance market, accounting for 45-50% of total premiums, with a steady annual increase.
YOUR TRUSTED PARTNER IN INSURANCE BROKING.
IIRM Maldives: A leading insurance broker, fully licensed by the Maldives Monetary Authority (MMA).
Types of Policies
This mandatory insurance policy is required for all vehicles running on public roads. This type of vehicle insurance policy provides coverage for third-party damages or injuries in the event of an accident caused by the policyholder.
This comprehensive insurance policy provides a wide range of benefits including coverage for third-party liability, damage or theft of the insured vehicle and personal accident protection, which offers compensation in the event of injury or death. Additionally, policyholders can further enhance their coverage with optional add-on covers, providing extended benefits and greater peace of mind.
Our team of experts, with their extensive subject knowledge and experience, is dedicated to providing you with personalized solutions to secure your vehicle against unexpected risks.
Key Coverages
- Damage to own vehicle due to accident
- Vehicle Theft
- Personal Accident
- Third Party Losses
- Damage due to Fire and allied perils