The Insurance Company of the West Indies (ICWI) has launched a new all inclusive bundle which the company says is designed to offer the best possible protection for its comprehensive motor customers.

When asked how the new product came about, Samantha Samuda, vice president of marketing, distribution and human resources at ICWI, said: “With over 50 years of experience putting our customers back on the road after an accident, we have a good understanding of what our customers need.”

She added: “Our highest priority has always been their speedy recovery; so we have developed a new motor product that will offer the ultimate protection at the time of a claim while removing unnecessary stress.”  

The new bundle, Comprehensive Complete, includes a myriad of extra benefits not seen anywhere else – Uninsured Motorist Protection, Accident Forgiveness, Excess Eliminator, a $50,000 Capped Excess, Alternative Transportation, Key Replacement and much more. 

Commenting further on the decision to create a new bundle for their comprehensive customers, Samuda stated that “one thing that we need to be aware of is that not all policies are equal nor are we in complete control of the settlement if our client is not at fault. So after an in depth study of what really matters to our customers, especially at the time of a claim, we knew we had to do something different to meet their ever changing needs”.

Samuda added that, with the large number of uninsured drivers on the road, ICWI had to ensure its comprehensive customers were better protected against this increasing risk.

“Being involved in an accident with an uninsured driver could have serious consequences on the Insured, their pocket, and the time it takes to repair their vehicle. The claims process can be strung out for a very long time while trying to recover from the uninsured Third Party – unless a claim is made on the Insured’s own insurance policy and they pay their excess, which can be significant.”

This is just one factor that ICWI’s Comprehensive Complete package has taken into account with its benefits – The included Uninsured Motorist Protection benefit allows the Insured to claim on their Policy with no effect to their No Claim Discount and without having to pay an excess, if hit by an uninsured driver who is at fault. 

EASY TO LOSE NO CLAIM DISCOUNT

Samuda continued to explain that “a No Claim Discount takes time to earn and is a major source of premium savings, but once a claim is made under their Policy, the Insured can easily lose their hard earned No Claim Discount”. 

This is where the Accident Forgiveness benefit offered under the Comprehensive Complete bundle comes in – the Insured’s No Claim Discount is protected after a loss, whether they are at fault or not. Also included under the bundle is Excess Eliminator.

“Excess Eliminator frees clients from being held up waiting to recover from the at fault Third Party – it allows the Insured to fix their vehicle and get back on the road faster while paying zero excess. ICWI does the waiting, saving the Insured time and money,” the marketing director said.

The new ICWI package also offers a Capped Excess benefit. An excess is a specified amount of money to be paid out-of-pocket before insurance kicks in, and is usually calculated as a percentage of the vehicle’s value. With Comprehensive Complete, the Insured’s excess is capped at $50,000 irrespective of the sum insured, which can significantly reduce their financial stress in an otherwise stressful situation.

As an added benefit, the bundle provides clients with a rental car for up to 14 days to assist with mobility, post-accident. Also, with the Key Replacement benefit, ICWI will replace the Insured’s car key, up to a specified limit, in the event of loss or damage. 

“Comprehensive Complete was designed to offer the best protection for our comprehensive motor customers – our Complete package will help you save time and money,” Samuda asserted.