Botswana - Obtain Motor Insurance

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Procedure

Apply in Person:

1. To obtain a Motor Insurance cover, the owner of the vehicle should contact any licensed motor broker and let them asses your motor insurance cover needs. Non-Bank Financial Institutions Regulatory Authority (NBFIRA) Contact & Map Location Details
2. Figuring out how much coverage you need is one of the most important parts of buying auto insurance. Generally, it's a good idea for owner of the vehicle to get as much liability coverage as they can afford.
3. Upon gathering enough information about the different and best motor insurancy cover one need,  visit a number of insurance cover providers as possible to compare service before settling on any of them. You might also check their history and other customers service expriences (reviews) via their websites if available or social media.
4. Choose the best insurance cover providers and contact them either personal/ telephone or mail so as to get more information about their services.
5. Upon satisfactory, submit a formal application for the motor insurance cover by completing the Motor Proposal form; which will be issued by the insurance company and should be attached to all the supporting documentation as listed under the “Required Documents” section of this page for consideration.
6. Upon receipt of the complete dossier the insurance provider will assess the document and will require the applicant to present the particular vehicle for an inspection at their officers or a desigented location.
7. The vehicle will be inspected to authenticate the documentation provided, after this process the insurances company will be able to access and determine the worthness of the vehicle and calculate the amount of prenieum tthat is to paid for the policy.
8. If in agrrement with the terms of the policies, the applicant is requested to make payment for the policy as instructed by the insurances company and present proof of payment incase of electronic payment method.
9. The insurance company shall  issue the applicant with a Certificate of Insurance for reference which will contain the policy particular, which should be affixed on the motor vehicle windshield.

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Required Documents

• Motor proposal form
• Valid Proof of Identification
• Proof of Vehicle Registration
• Motor Insurance Physical Inspection Form
• Completed Know Your Customer form
• Vehicle Logbook
• Any other supporting documentation as requested by the insurance company.

Office Locations & Contacts

Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
Address: 3rd-floor Exponential Building,
Plot 54351 New CBD, Off PG Matante Road
Gaborone.
Botswana
Private Bag 00314, Gaborone
Tel: +267 3102595 / 3686100
Fax: +267 3102376 / 3102353
NBFIRA Contact & Map Location Details
NBFIRA Website
Business hours: Monday-Friday from 8:00 am-1:00 pm and 2:00 pm -5:00 pm, closed during Public Holidays & Weekends.

Eligibility

• Any vehicle owner in Botswana, who wishes to obtain a cover for his/her vehicle, can apply.
• The vehicle must have a proper proof of registration and the person applying must possess a proof of ownership.

Fees

• Explain the fee structure which is required for obtaining the certificate/document.
  

Validity

• It depends upon the scheme choosen by the applicant.

Documents to Use

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Sample Documents

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Processing Time

• The time frame for processing the application is one working day.

Related Videos

Videos explaining the procedure or to fill the applications.
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Please remove the '&' inside the tags during implementation.
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sevenload, viddler, vimeo, youku, youtube
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e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Its important to understand that by taking a motor insurance, you are transferring the risk from yourself to the motor insurance company.
• There are three distinct types of motor insurance that you should know:
• Third party- covers third party body injury and property damages that might occur in an accident
• The comprehensive cover- cover third party and second party but does not cover first party and family. Owner and family members are required to take personal accident cover
• Third party fire& theft cover- covers theft in addition to covering third party liability

Required Information

• Full name of the applicant
• Contct Details
• Residential address details
• Type of policy you desire
• Vehicle registration details
• Declaration by the applicant

Need for the Document

• The law requires all motor vehicles to be insured in Botswana, and the insurance is supposed to cover against financial loss, theft damages and third party liabilities.

Information which might help

• The Non-Bank Financial Institutions Regulatory Authority (NBFIRA), whose mandate is to regulate and enforce compliance within the Non-Bank Financial Institutions (NBFI) sector to safeguard the stability, fairness, and efficiency of the non-bank financial.
• The NBFIRA is task with the registration, licensing and regulating of all imotor vehicle brokers/ agent and insurers.

Other uses of the Document/Certificate

• A vehicle insurance certificate can be use to provide proof of motor vehicle ownership.

External Links

• Botswana Insurance Industry Regulation Act 2019
  

Others

More information which might help people.