The type of insurance you have makes a big difference in whether your repairs will be covered.

In Barbados, any vehicle operating on public roads is required by law to have insurance. Failure to comply with this requirement could result in a fine of $1,000 and up to six months imprisonment, or both. Additionally, driving without being insured against third party risks may disqualify you from holding or obtaining a license for a period of 12 months from the conviction date.

Your driver profile,  specifically, your age, driving experience and driving history play a large role in calculating your car insurance.

For example, if you’re a new driver or a young driver, you’ll likely pay more for your premium than someone older and more experienced with driving.

Young or new drivers pay more because they are more prone to accidents and risky driving.

​According to a study analyzing road traffic accidents reported to the Royal Barbados Police Force in 1992, drivers under the age of 20—who represented only 4% of all licensed drivers—were involved in 18% of fatal accidents where driver error was identified as the main cause. ​

Fortunately, your premium should gradually decrease once you become older and gain valuable driving experience.

However, you may not see a decrease at all if you’ve ever been involved in a crash. This brings us to our next point, driving history.

Your history of accidents and violations, such as speeding tickets can impact how your insurance premium is calculated.

The more accidents and violations you have the higher your premiums. In contrast, if you have a good driving record, you’re likely to see your premiums decrease yearly.

But before you pick an insurance provider or even a policy, you must understand car insurance.

First, let’s look at the different types of car insurance:

• Liability insurance- Also known as Third-party insurance- This option covers any injury or damage you may have caused to another person and their vehicle or property. This is the legally required minimum coverage for motor vehicles in Barbados. Driving without being insured against third-party risks may disqualify you from holding or obtaining a license for 12 months from the conviction date. While this insurance is the most cost-effective option, it lacks coverage for your car damages.

• Collision- Collision insurance covers damage to your vehicle. It may help you repair your car or even replace it. This type of insurance does not cover medical bills, damage to someone else’s vehicle, or damage to yours unrelated to driving such as a tree falling on your car.

• Comprehensive- As the name suggests, this type of insurance is comprehensive but can be costly. Comprehensive insurance policies, like what we offer at General Accident can cover:
  • The costs for mechanical repairs, accessories, and spare parts
  • The cost of wrecking/towing services if the vehicle is totaled.
  • Replacement vehicle hire in case your vehicle is undrivable after a collision.
  • Repairs or replacement for broken windscreen or window glass
  • Medical expenses for the insured driver or authorized driver.
  • Legal charges such as manslaughter
  • Clothes and personal effects are lost in an accident with exclusions for things like money and jewelry.
  • Damage caused by natural disasters and civil unrest.

Optional Coverage

Depending on your insurance provider, your budget, and your overall preference, you can choose to get optional coverage for your motor vehicle such as:

There are other types of car insurance coverage you may be interested in such as:

• Personal Injury Protection- This ensures the policyholder and passengers get their medical bills covered after an incident.
• Uninsured Motorist Coverage- This helps you to get compensation if you’re in an incident with an uninsured driver.
• Glass Breakage- You can put in a claim for broken glass, whether windscreen or windows with this policy.

Criteria for Evaluating the Best Car Insurance Providers

If you’re looking for the right car insurance provider we recommend evaluating certain factors.

We recommend you evaluate:

• Affordability and premium costs- Contact at least three car insurance providers and get the costs for a couple of the policies such as the one required by law and the ones that appeal the most to you. Note the ones that are within your budget. The policies with the least coverage will be more affordable and the ones with the most coverage will attract a higher cost. Your premium is the amount of money, you, the policyholder have paid or agreed to pay to the insurance company for their acceptance of his risk. You have to consider whether or not this is within your budget.

  Coverage options and flexibility—When evaluating car insurance providers, consider the various coverage options and their flexibility. For example, if you’re looking for comprehensive insurance, look at what each provider offers. You may find that they vary a bit.

• Customer service and claims handling- If and when you need to contact your insurance after an incident, the last thing you want is bad customer service and issues with claims handling. Read reviews on the internet and ask around to find current and past clients of the car insurance providers you’re evaluating. Find out about the quality of the customer service and how they handle claims. Don’t be afraid to contact them and test their customer service yourself.

Once you decide you’re ready to sell your car, the first step is ensuring that your vehicle is in the best possible condition to attract potential buyers. You may want to give your car a detail before putting it on the market and confirm that your service is up to date. Check for minor scratches or dents that need to be repaired or factored into your pricing strategy. When determining a fair price, you can also check the price of similar cars on websites, social media marketplaces or in the local newspaper to compare.

Now you are ready to find a suitable buyer.

You can opt to place an ad in the local paper, post your vehicle on social media, or place a for sale sign on your car. In addition, you can let your network – friends, families and co-workers know that your vehicle is for sale and inquire if they’re interested or know anyone else who may be. You’d be surprised how effective this can be but ultimately it’s up to you to do your due diligence to vet interested people and make your selection. When advertising your vehicle, include clear pictures and key details such as the make, model, year and mileage of the car. Advise buyers on the condition of the vehicle, your asking price and how they can contact you if interested. Once you gather a list of potential buyers, you can make arrangements to meet in a safe, public location so that persons can view the vehicle, test drive and ask any other relevant questions. Always consider that buyers may offer a price under your asking so be prepared to negotiate and have a minimum price in mind.

Yes, you can! General Accident Barbados provides the option to pay your car insurance premium in monthly installments. This flexibility allows you to spread out the total cost, making it easier to manage your finances and/or Budget.

Home insurance, or homeowner’s insurance as it is more popularly called, is a type of property insurance that safeguards your home and its contents against damage caused by specific perilous incidents such as fire.

That means depending on your home insurance policy, you may receive compensation if your home or its contents were damaged by fire, theft, or other unfortunate incidents. The alternative is rebuilding from scratch or replacing your items solely using your own money.

While homeowner’s insurance is usually a choice, lenders often require it when you mortgage your home. Even if you’re not required to have home insurance, it’s still highly recommended, especially for the coverage it can offer you in times of peril.

What is an earthquake?

Earthquakes are caused by the sudden release of energy in the Earth’s crust. The Cambridge Dictionary defines earthquakes as a sudden violent movement of the earth’s surface, sometimes causing great damage. This can happen due to natural processes like the movement of tectonic plates, which are large sections of the Earth’s outer shell. The boundaries where these plates meet are called fault lines. When stress builds up along these fault lines and exceeds the strength of the rocks, it results in a rupture or slip, causing the ground to shake. The intensity of an earthquake is measured using the Richter scale, with higher numbers indicating more powerful quakes. Other causes can include volcanic activity, landslides, and human activities such as mining or reservoir-induced seismicity.