Flexible car premiums essential to driving coverage as costs rise

Recent data from the Insurance Regulatory Authority (IRA) shows that motor vehicle insurance made up 27.5 percent of all gross written premiums.

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In Kenya’s tough economic climate, where the cost of living is skyrocketing, owning a car can feel like more of a burden than a blessing—especially when it comes to motor insurance.

Annual lumpsum premiums are forcing car owners to dig deep into their pockets, spending up to 10 percent of their car’s value on insurance. For most, that’s just too much to handle.

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Note: The results are not exact but very close to the actual.