Insurance 101-What is Excess BI in my Comprehensive Insurance?

Excess Bi means Excess Bodily Injury.

The reason for the word Excess is because of the CTPL which i explained in my previous blog.

This coverage applies to injuries you, the designated driver or policyholder caused to someone else. It's very important to have enough liability insurance because if you are involved in a serious accident, you may be sued for a large sum of money. For example, you are driving a Honda Jazz and you rammed over a Traffic stoplight and hospitalizing an MMDA officer, without a comprehensive insurance, this will be the start of your worst nightmare! With a comprehensive insurance, you would'nt worry as much, because excess BI will cover the expenses that will be incurred for the Hospitalization of the injured MMDA officer after the 100,000 coverage of your CTPL. However you will be

charged for the expenses that will exceed your chosen coverage which later i will indicate here.

There are 2 standard prices for Excess BI, one for Private Cars and another for Commercial Vehicles.

Coverage                    Private Cars            Commercial Vehicles

100,000                          1

80                                 230

150,000                           230                                280

200,000                          280                                 340

250,000                          340                                 390

300,000                          390                                 440

400,000                          450                                 500

500,000                          520                                  570

750,000                          610                                   630

1,000,000                      700                                   700

These are Tariff Rates from the Insurance Commission. For more info on this, please email or call me at 5153823.

Now, i ask what happens to the Stoplight that you rammed over? For sure the government won't let you go on that one! I'll explain it on my Next Blog!