Frequently Asked Questions
A dependent is classified as the spouse, married or unmarried, of an employee, and children of the union, step-children, foster children and legally adopted children, who are between the ages of 14 days and 19 years. Children who continue to be full-time students at an accredited institution after attainment of age 19 may continue to be covered up to age 23, by providing verification of full-time student status to the Insurer on an annual basis. Maternity Benefit
The benefits outlined in the schedule are available to all female employees and covered dependent spouses. The maximum benefits stated include ante-natial visits, delivery fees, lab tests, and x-rays occurring directly as a consequence of pregnancy, hospitalization for mother and baby. All these expenses are claimable only from the Maternity Benefit up to the stated maximums. Major Medical is not applicable to Maternity unless there are complications of pregnancy.
In order to benefit from Major Medical, an insured’s out-of-pocket expenses after payment on the basic plan must be greater than the deductible set out in the schedule of benefits. The deductible can best be described as a toll that takes you from the Basic Plan side of a bridge over to the Major Medical side of the bridge. It can be satisfied by an accumulation of eligible out-of-pocket expenses during a contract year, or from a single out-of-pocket expense. This deductible is satisfied only once per contract year, per covered person.
The excess is the portion of a claim (In Motor, the cost of repairing or replacing your vehicle, specified as a percentage of the value of the vehicle, that you are responsible for paying, whether or not you are at fault. The Company will pay amounts over and above this figure up to the sum insured. We do not apply an excess to fire claims. In addition unlike most insurers we do not apply a excess to your theft claims.
If you are involved in a minor accident, you may feel that you should not report it as it could cause your premium to be increased. However, failure to report an accident is a breach of the terms of the policy. If the other party chooses to claim on their insurance company who then seek repayment from us, your rights to protection under the policy may have been forfeited.
It is important to report all accidents and avoid unnecessary problems.
Your Certificate of Insurance, Cover Note or Policy Schedule provides detailed information on the person(s) permitted to drive. There are, at times, limitations on the age and driving experience your drivers should have. Please look out for these.
Your vehicle is a prized possession, be selective about the persons you allow to drive it.
A careless driver could cause your premiums to increase.
This is a discount you earn for not making a claim under your policy. As long as you do not make a claim it increases annually until it reaches a maximum percentage. It is important to note that even if you are not at fault in an accident, once you have made a claim, your discount will be reduced. It will be reinstated if we recover our expenditure.
Accident free driving is the best way to keep your premiums at a reasonable level.
Your No Claim Discount is not transferable to another person. However, you can transfer it from one of your vehicles to another one owned.
If you decide to modify your car to make it more powerful or faster we need to know. Unfortunately, such modifications increases the risks associated with your car and consequently the premiums.
Your motor policy covers breakage of your windscreen or window up to a specified amount. There must be no other damage or injury apart from scratches caused by the shattering of the glass. Once this is the case the excess is not applicable and it will not affect your no claim discount.
No. The Law specifically prohibits us from granting you a grace period. Your cover expires at midnight on the date stated on your Certificate of Insurance. Therefore, if the day after the expiration of your cover is a weekend or Public holiday you must ensure your cover is renewed early.
Additional drivers are drivers you name on your motor vehicle insurance policy in addition to you the policyholder.
Your annual premium is the price of your car insurance for the year.
In the event of an accident, comprehensive insurance covers damage to a third party vehicle, injury to third parties, liability to passengers in the policyholder’s car and also covers accidental damage to the policyholder’s car.
An insurance certificate is a guarantee that a policy of insurance has been issued to you which complies with the terms of the “Road Traffic Act(s)”.
This is the number of years you have had a motor vehicle insurance policy in your own name, without making a claim. A percentage discount is allowed, depending on the number of years you hold.
E.g. one year = 10%, two years = 20%, three years = 30%, four years = 40%, five (or more) years = 50%.
Some insurers give up to a maximum of 70%
Discount ratings can vary depending on insurer.
The period of insurance is the period from the effective date in the schedule to date prior to the renewal date and any further period, for which you have paid or agreed to pay, and for which an insurer have accepted your premium.
In the event of an accident, this covers damage to a third party vehicle, injury to third parties, liability to passengers in the policyholder’s car. This cover also includes damage by fire or theft to the policyholder’s car.
Windscreen Damage constitutes accidental breakage of the windscreen or any other car window and scratching of bodywork resulting solely and directly from such breakage.
An endorsement is an amendment to your policy written especially to cover unique requests just for you. It is also a change to your policy that is made during the policy’s term. An endorsement is attached to your policy to modify the terms of the insurance contract.
If your child is a resident of your household and will have use of your vehicle, he or she should be listed on the policy in order to be covered while driving a vehicle included on the policy. If your child is driving someone else’s car with their permission, the other person’s insurance often covers the damage.
If you have any questions about who should be listed as a driver, contact your AIB customer care representative.
Homeowner insurance policy covers damage from incidents such as fire, theft, and vandalism to your house, adjacent structures like a garage or shed, and your personal belongings. It covers living expenses if your house becomes temporarily unusable, and liability in case a visitor is injured on your property or their property is damaged.
Coverage for damage to the dwelling and contents will apply up to the limits in the policy.
Most policies have no coverage for injuries to you or household members sustain on your property.
The liability portion of your policy may cover any injury to a neighbor or visitor that you are legally liable for.
If your house is damaged by an insured peril, your policy may provides cover for alternative accommodation up to the limit stated in the policy
Coverage is NOT provided to replace the cost of trees in your yard. However, if a fallen tree damages an insured structure on your property your policy will cover up to the limit stated.
Some insurer’s policies provides for removal of debris from your insured property resulting from an insured peril.
No, we would recommend that you obtain a Commercial All Risk policy.
By “scheduling” an item in your policy you obtain broader coverage, no matter how a loss occurs. When you schedule items like jewelry, silverware, photographic equipment, or antiques, you specifically describe and insure them, and pay an additional premium, depending on the amount of coverage you want.
You are covered up to your policy’s limits for that damage, and for any additional damage done in the course of repairing the system.
Only water damage that is sudden and accidental is covered, so your policy would not cover damage from a slow leak, for example.
These are items worn or carried on the person, clothing items, or luggage items.