How long has West Indies Alliance been in existence?

WIA as it is now became a wholly owned subsidiary of Guardian Holdings Limited in 2000 but our history as a company dates as far back as 1826 (for more information click here).

Why do I need to insure?

Insurance is necessary if you own any form of physical asset or are open to the possibility to being liable for injury to persons or damage to their property.  When you pay premium it is put in a pool of funds from which persons who are covered can claim if an event happens that causes loss or damage.

What does Motor Insurance cover?

It is a requirement in Jamaica under the Third Party Risks Act that anyone who operates a motor vehicle on the road must have Motor Insurance.  A policy can be written to cover Third Party only, Third Party Fire & Theft or Comprehensive cover subject to the limits under the policy.

Third Party Insurance: covers you as the Insured against liability for bodily injury (to a third party) or damage to property (owned by a third party) caused by you or the authorized driver of your vehicle in the event of an accident in which the driver of your vehicle is at fault. (In a contract of insurance WIA is the first party, our client/the insured is the second party, any other person/entity is the third party.)

Third Party Fire & Theft Insurance: covers everything in Third Party Insurance plus damage to the Insured’s vehicle by fire or theft of the vehicle.

Comprehensive Insurance: covers everything that Third Party Fire & Theft Insurance covers plus damage to the insured vehicle by accident or other perils.

Why do I need a cover note or certificate? 

Both these documents are evidence that you have purchased insurance as per the requirements of the Third Party Risks Act.  The cover note, however, is for a maximum of thirty (30) days while a certificate can go up to one (1) year.

What is an “excess”?

All policies that cover damage to property are subject to an excess (also know as a deductible).  If a client has a claim he/she/they have to pay the first part of the amount being claimed.  It may be stated as a flat dollar amount or as a percentage of the sum insured.  The excess is used as a means of managing relatively small claims.

What is a Fire and Perils policy?

This type of policy covers damage to property (buildings, content etc.) against loss or damage by fire and natural disasters such as earthquake and hurricane.

How do I make a claim? 

In the event that you suffer loss/damage you may call us and give verbal notification followed by completing a claim/accident report form which is available from our office or your broker.  Even if you do not intend to make a claim you should still report the incident to us.

What is the Average Clause? 

Average is applies to all Property policies.  It means that in the event of a claim and you did not insure your property for its full replacement value, any claim payment will be done on a proportionate basis as you will be deemed to have insured yourself for a part of the risk.  (click here for an example).

What is the role of a broker? 

A broker represents their client to the insurance company.  When you have a broker they can give you professional advice on your policy cover.