Auto Insurance

Drive secured the affordable and convenient way

Your vehicle is your freedom, your ability to choose your destination at a moment’s notice. Protecting this asset with insurance means safeguarding yourself from loss of mobility and potentially from huge expenses due to the loss or damage of your vehicle, or that of another driver. It also means protecting yourself and others in the event of costly personal injury, even if you’ve permitted someone else to drive.

*These benefits are exclusive to CIBC Caribbean clients.

The CIBC Caribbean Insurance Program (“Program”) is distributed by the CIBC Caribbean Insurance Agent. The Program is underwritten and administered by CG United Insurance Ltd, the insurer.

Contact our Insurance team

Benefits

Quick and easy insurance quotes
- Get a quick quote on your new or existing car. We can also provide you with a competitive quote with your car loan application

Easy payments
- Pay via Online Banking or the Mobile App, or pay in-branch
- Pay with cash, cheque or credit card
- Pay in up to 11 monthly instalments with the EasyCover Revolving loan, now available interest free for three consecutive years to clients using the CIBC Caribbean Insurance Program

Easy claims process
- Claims proceeds may be deposited directly to your CIBC bank account for prompt settlement
- You also have access to a 24/7 emergency support line

Your CIBC Caribbean Auto Insurance Protection Plan provides reliable protection with three levels of coverage: Comprehensive, Third Party and Third Party Fire and Theft.

Coverage and Policy details

Comprehensive cover

This type of cover protects not only your vehicle, but you and third parties. The term “Third Party” refers to your passengers and road users or property owners who suffer loss or damage while you are driving.

Your Comprehensive Cover against loss or damages also includes fire, theft, accidents, natural disasters and malicious acts, personal items, windscreen or window damage, towing charges and new car replacement to the value of the purchase price. (if a total loss occurs within two (2) years of purchase of a new vehicle)

Third Party Policy

This is the minimum coverage required by legislation. This coverage settles Third Party claims should you or the authorised driver of your vehicle be held responsible for an accident. It also covers your legal liability for the injury or death of passengers and other persons, as well as Third Party property damage. You are also covered against Third Party risks whilst driving someone else’s private car.

Third Party Fire & Theft Policy

Policy Deductible/Excess

This is the first part of a claim, which the Policyholder must pay.

Let's answer your Insurance questions

- How is my auto insurance premium calculated?
  The insurance premium you pay is based on standard calculations involving the following factors:
  
  - The vehicle’s profile (type, usage, engine size and value)
  
  - Each driver’s profile (including age, occupation, driving experience and driving history)
  
  - Higher premiums may be incurred by high performance engines, young or inexperienced drivers, and expensive or unusual vehicles
- How do I make an auto insurance claim?
  In the event of an accident, remember:
  
  - Do not admit liability
  
  - Call the Police immediately
  
  - Contact us on the emergency hotline for assistance
  
  - Obtain the names and addresses of all parties involved and available witnesses who are not passengers in your vehicle
  
  - Record measurements taken by the Police
  
  - Take photographs or have photographs taken of vehicle/ property damage
  
  - Secure vehicle to prevent further damage
- How is my home insurance premium calculated?
  ·         The premium you pay is based on careful calculations involving these factors:
  
  ·         Your home profile (timber, wall, square footage)
  
  ·         Age of your home (whether it's a brand new construction or more aged home)
  
  ·         If you live in a high-risk area (such as a beachfront property or hillside lot)
- What is a policy deductible/excess?
  This is the first part of a claim, which You must pay. If claims are under two or more sections for loss or damage sustained at the same time, the deductible/excess will be deducted separately from the total amount under the agreed claim settlement.
- How is my mortgage indemnity premium calculated?
  The premium you pay is based on careful calculations involving these factors:
  
  ·         Purchase Price of property (including land)
  
  ·         Amount of Loan
  
  ·         Maximum Loan Amount
  
  ·         Term of Mortgage

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