POCKET FRIENDLY – You will only be required to pay 20% of the premium as an advance payment to get 12-months comprehensive insurance cover. FLEXIBLE REPAYMENT TERMS – You will enjoy a longer loan term of up to 11 months, which will make the product more flexible and affordable. QUICK TAT – We will deliver same day services for applications submitted before noon. COMPETITIVE RATES – You will enjoy market beating insurance rates from a variety of insurance companies.
The 20% deposit/advance payment acts as a buffer/security to the IPF Facility, since IPF is primarily an unsecured loan. It also shows your commitment to taking the facility and remaining faithful your monthly installment payments of the IPF facility until it is fully settled.
Yes, the 20% deposit/advance payment is refundable conditional to your completion of the IPF facility repayment, less any expenses that we may have incurred in line with the IPF facility. Alternatively, we may use this amount to settle the last installment of the IPF facility upon your faithful repayment of the preceding ones.
Copy of the Logbook and Valuation Report/Sales Agreement, KRA PIN, Passport photos, Copy of the National Identification Card or Passport; and The Insurance quotation from a recognized insurance company.
In case of a claim in which the vehicle can be repaired, kindly contact us via 0709650000 for us to assist with the repair of the asset. In case of a total loss of the asset as a result of theft, accident or any other covered risk, the claim proceeds shall be paid to us by the insurer after which we will pay off your Insurance Premium Financing facility and remit any balance to you.
