Imperial Assurance launches new product

Imperial General Assurance has introduced a new product in its quest to drive innovation in the insurance space.

Christened: “Collision Insurance”, it is a motor insurance coverage that safeguards a first party’s (insured individual) vehicle from damage resulting from only collisions with objects or other cars.

Speaking at the launch in Accra last Friday, the Deputy Managing Director of Imperial General Assurance, Harry Boakye Ofori-Attah, said the unveiling of the new product reflects the company's commitment to innovation and its dedication to meeting the evolving needs of its customers by providing reliable insurance solutions.

Benefits

He explained that the product does not only cover vehicle damage from collisions but also includes a hospitalisation benefit for severe sickness, offering policyholders financial support during medical emergencies.

Additionally, he said the product provides coverage for own damage, further enhancing its comprehensive protection.

"The hospitalisation benefit is not arising out of accidents, but it is as a result of the fact that when a person who has bought this collision insurance gets severely sick and is admitted to hospital, that person, after three days, earns GH¢100.00 per day up to 30 days.

However, that person must be severely sick. The insurance also provides cover for their own damage," he said.

“If you do not have enough financial resources to personally cover repair expenses or purchase a replacement vehicle, it is strongly recommended to opt for collision insurance.

However, it is essential to bear in mind that if you own your vehicle outright, the choice to include collision coverage is a matter of personal discretion,”

The acting Board Chairman of Imperial General Insurance, David Kwabena Adade Boafo, expressed excitement over the milestone achieved by the company and gave an assurance that the company would continue to generate more innovations to meet the demands of its customers.