FAQs

Business insurance covers financial losses stemming from a variety of events that can negatively impact a business’ operations. There are many different types of business insurance and they provide coverage for different types of situations. The most important and common types of insurance cover employee-related issues (Employers Liability Insurance), legal liability (Public Liability Insurance), and property damage (Fire and Perils Insurance or Commercial All Risk).You can determine the types of coverage your business needs by analyzing the risks involved in your industry.

In Jamaica, business insurance is not required by law.

JNGI will submit your claim to the other company/ party within seven (7) days of receiving all the required documents, but recovery from another company is not directly within JNGI’s control and may be affected by a number of issues, for example, the Third Party may not accept liability. As a result we can’t provide a definite timeframe for recovery but we can assure you that we will do our best to recover on your behalf.

Comprehensive policies, generally, do not cover a full settlement. There is an excess or deductible which you are required to stand; this excess or deductible is a specified percentage of your Sum Insured or Pre Accident Value. If you are not fault in the accident, your excess or deductible is recoverable from the liable insurer or third party.

For total losses, JNGI calculates the excess or deductible on the Pre-Accident Value of the vehicle or the Sum Insured under the policy, whichever is less. For cash settlements, the excess or deductible in the insurance contract is a percentage of Sum Insured at the time of insuring the vehicle.

If you are making a claim you must prove your loss. If you are claiming from another company, a Police Report is sometimes required as proof to the other company that an accident occurred with their insured. We do not ask you to get a Police Report unless it is absolutely necessary because you will not be able to recover this cost if the other insurance company does not need the Police Report.

JNGI will file suit in cases where JNGI has made claim payments to you, under your insurance contract and it is economical to recover. Where JNGI files suit, if you have any uninsured loss that you wish to recover, JNGI would include these in the suit for you.

You are required to prove your claim and an Estimate of Repairs is proof of the damage to your vehicle and the cost of repairs. Unless your vehicle is a total loss, the cost of the estimate is generally absorbed by the Garage or Repairer who prepares your estimate if you choose them to do the repairs.

The contract that JNGI has with the Mortgagee and agreed to by you requires that all payments under the policy are to be made to the mortgagee unless in cases where a garage is authorized by us to repair your vehicle, in those instances, the payment is made to the garage after repairs are done to your satisfaction.

You cannot be paid GCT unless you have actually incurred it. Once you can prove that you have incurred GCT, JNGI will reimburse your GCT expenses.

Storage cost is not covered under the terms of your policy.

Generally, if a claim is made against your policy, your No Claim Discount will be affected. It is a ‘No Claim’ Discount and not a ‘No Blame’ Discount. Your No Claim Discount however will be reinstated if recovery is successful. JNGI also has Motor policies that offer an Accident Forgiveness benefit which would cause your No Claim Discount to remain unaffected even if you have had an accident; this is subject to conditions of the specific policy.