General Questions
What is Insurance?
Insurance is a product between an individual or business entity (the policyholder) and an insurance company (the insurer). The purpose of insurance is to provide financial protection and risk management against various unforeseen events or losses in exchange for regular premium payments.
Insurance helps individuals and business entities to be protected as per the coverages in the policy against the risks associated with unexpected events, such as accidents, illnesses, natural disasters, or even death. It provides financial protection by covering the costs of medical bills, property repairs, legal liabilities, and other expenses related to the events covered under the insurance policy. Thus, insurance offers peace of mind because if a covered event occurs, the financial burden on the policy holder can be mitigated.
There are many different products of insurance available that can also be tailored to specific needs and risks. These can include motor insurance, life insurance, health insurance, travel insurance, property insurance, marine (goods in transit) insurance, liability insurance, and many others. The choice of insurance products depends on individual requirements and risk coverage conditions.
Key components and concepts related to insurance:
Policy: The insurance policy is a legal document that outlines the coverages and conditions of the insurance agreement. It specifies what is covered, what is excluded, the premium amount, the policy period, and other important details.
Premium: The premium is the amount of money the policyholder pays to the insurance company in exchange for insurance coverage. Premiums are paid as per the regulation of the IRU for all individual policies before the issuance of the policy.
Coverage: Insurance policies provide coverage for specific risks or events. Common types of insurance coverage include:
• Motor insurance (for car/vehicle related damages),
• Life insurance (pay out to dependents in case of death of the policy holder),
• Health insurance (for medical/ hospitalization expenses),
• Property insurance (for home/property damage or theft),
• Marine insurance (for loss/damage of goods during movement),
• Travel insurance (loss of baggage), etc…
Insured: The insured is the person or business entity whose risks are covered by the insurance policy. The coverage in the policy for the person, group of people, or entity is the protection from the loss.
Insurer: The insurer is the insurance company that issue the policy and promises to provide coverage against the risk of loss in the policy in exchange for the premium payments.
Policyholder: The policyholder is the person or business entity that purchases the insurance policy and is responsible for paying the premiums.
Beneficiary: is any person or legal entity who is entitled to the benefits, and/or compensation of policy.
Claim: When an insured event occurs, the policyholder or beneficiary can file a claim with the insurance company to request compensation or coverage against the loss or damage.
Why do I need insurance?
Insurance products not only help you in mitigating risks but also provide a financial cushion against loss or damage suffered in the event of the occurrence of an event that is covered by the insurance policy, such as accidents, illnesses, natural disasters, or even death. It provides financial protection by covering the costs of medical bills and hospitalization, property repairs, legal liabilities, and other expenses related to the events covered under the insurance policy. Thus, insurance offers peace of mind because if a covered event occurs, the financial burden on the policyholder can be mitigated.
What can I get covered under insurance?
Almost anything in your life that has a financial value and is at risk of being lost, stolen, or destroyed can be insured.
Motor cars, life insurance, permanent disability insurance, health insurance, moveable property (cash, household items, etc.), immovable property (houses, stores, office buildings, etc.), dishonesty, and financial liability are all covered under the insurance policy.
What is Premium?
The premium is the amount of money the policyholder pays to the insurance company in exchange for insurance coverage. Premiums are paid in full before issuing the insurance policy.
How can I pay the premium for insurance policy?
The premium can be paid either by K-net Card or Online. For payment by K-net card, you may visit AMIB Head Office during the office hours or just let us know- our staff would visit your place and collect the premium. Online payment, however, can be made anytime 24x7 from the comfort of your home at your convenience.
What is underwriting?
Underwriting in the insurance business is the process by which an insurance company assesses the risks associated with insuring a particular person or business entity of the type of risk, and determines the terms and conditions of the insurance policy. The primary goal of underwriting is to evaluate the likelihood of a claim being made and to set appropriate premiums and coverage limits to ensure the insurer can manage these risks while remaining financially stable. Additionally, underwriting helps policyholders by providing access to insurance coverage tailored to their specific needs and circumstances.
Why do Al Mulla Insurance Brokerage (AMIB) be preferred over other insurance broking houses?
AMIB is the Insurance specialists with a very long and deep industry experience. It is a part of reputed Al Mulla group, Kuwait. AMIB is regulated by Insurance Regulatory Unit (IRU), Kuwait. Being a broking house, we are associated with many insurance companies operating in Kuwait which helps us meeting the varied insurance requirements of our customers with the best-in-class product at affordable cost/premium. It also helps AMIB to offer tailor-made insurance solutions to its customers considering the risk factors associated with them/their business. Some of the benefits of buying insurance products through AMIB are:
• Insurance is made simple for you.
• We understand the insurance market and can get you a value-for-money deal for your insurance requirements.
• We help you to assess your risk and advise the best solutions to manage the risk.
• We have tie-ups with all the major Insurance companies in Kuwait and hence we bring to you the best possible deals
• You may find some insurance policies complicated. We help you understand the details of the policy and assesses the optimum level of insurance cover needed, so that you remain assured that you are adequately protected.
• We assist in filing claims, if any, on your policy with the Insurer.
• We are always available for you on Call, WhatsApp, eMails.
• Our Mobile app is super easy and superfast.
What documents are required to issue the Motor Owned Damage (MOD) Policy?
You need to provide vehicle registration/Daftar, Civil ID and Invoice Copy. Please call/WhatsApp us on 55901644 or email us on amib@almullagroup.com and our staff would guide you through the process.
I am an existing customer. What details will I be required to fill in the Application/ Renewal Form?
It is very easy. Just download our mobile app and visit the renewal section.
You may also call/WhatsApp us on 55901644 or email us on amib@almullagroup.com and our staff would be glad to assist you.
How do I purchase the Insurance Policy Online?
It is very easy with AMIB. You can buy a new insurance policy or renew the existing policy taken through AMIB:
• Just download our mobile app and continue the process, OR
o Call/WhatsApp on 55901644.
o Talk to our Insurance Advisor to get the best product tailored to your requirement at the most affordable premium.
o Get your Insurance Policy delivered at your doorsteps.
Can I get a duplicate physical copy of my Policy document?
Yes, you can get it. You may call/WhatsApp us on 55901644 for further details.
How do I submit claims?
Claims may be submitted directly to the insurance company. In case you require any support from AMIB in filing the claim, you may call us /WhatsApp on 55901644 and our personnel would guide you in filing the claim in accordance with the insurance cover available and the terms & conditions of the insurance policy you have.
How do I renew my Insurance?
It is very easy. You just need to Call/WhatsApp us on 55901644 and our personnel will complete the entire process with best value on premium and deliver the renewed Policy at your doorsteps.
How do I Cancel my Policy?
In order to cancel the Policy you need to Call/WhatsApp us on 55901644 and our personnel will help you with necessary formalities
Note: The insurance is not cancelled if the policy is used for 8 months or more or has any claim.
How do I modify the communication address /mobile number/email in my policy?
In order to modify the policy details, you need to Call/WhatsApp us on 55901644 and our personnel will extend all the necessary support.
What is the maximum number of claims I can make in a policy year?
You can make any number of claims within the validity of the insurance policy. However, the sum assured (i.e. the amount of the insurance policy) is the maximum limit you can claim in a policy year. If the sum assured is exhausted, you can’t make more claim in the same policy year.
Can I purchase a policy for more than 1 year?
Yes. But there are certain types of insurance where coverage is available for less than one year, one year only, or more than one year.
Motor Insurance
What is Motor Insurance?
Motor insurance, often referred to as auto insurance or car insurance, is a type of insurance coverage designed to protect individuals, businesses, and vehicle owners against financial losses and liabilities associated with owning and operating motor vehicles. It is a contract between the policyholder (the vehicle owner) and an insurance company (the insurer) covering the risk of an accident or breakdown due to certain calamities.
Motor insurance typically provides coverage for the following aspects:
• Comprehensive Coverage: This coverage protects against loss or damage to the insured vehicle due to events such as theft, fire, or accident.
Motor Own Damage (MOD / Comprehensive)is a comprehensive motor insurance policy. The policy is a contract between the insured and the insurer to protect him or her from accidents based on the coverages mentioned in the policy under the MOI and IRU rules and regulations.
Motor Third-party cover (TPL) Motor Insurance policy which covers the policyholder's legal liability for injury caused to any third person or damage to any property of a third person in an at-fault accident. Third-party car insurance is the basic Motor Insurance policy and it is mandatory to have a valid third-party motor insurance at all the time while driving on road. This type of car insurance only provides coverage against third-party legal and financial liabilities arising due to accidents on the road.
Do I need to have a Motor Insurance policy?
Yes, it is mandatory by the MOI in Kuwait to have Motor Third-party cover (TPL). While driving your vehicle on road you must have a valid TPL insurance policy.
While taking MOD is not legally mandatory, it is strongly advisable to take MOD policy to safeguard your vehicle against theft, fire, or accident.
I have sold my car. Can I cancel my Motor Insurance policy?
Yes, in order to cancel an existing motor insurance policy, you need to Call/WhatsApp us on 55901644 and our personnel will guide you in the process.
Can I get refund of premium in case of I choose to cancel my Motor Insurance policy?
Yes. Generally, insurance companies consider the refund of proportionate amount of premium on a case-to-case basis.
Can car insurance premium be paid in instalments?
No. Premium for Motor Insurance need to be paid in full. Insurance companies do not provide Motor Insurance policy to the policyholder until full premium payment is received by them.
What are add-on covers available in a car insurance plan?
• Personal Accident: In case of accidental death, the owner driver is covered up to KD 10,000/-
• Replacement Vehicle: The customer is provided with a replacement car up to a period from 10 up to 20 days while the insured vehicle is under repair of accident.
• Waiver of Liability: In case of crossing the red light, over speeding or wrong turn, if the client commits an accident, the insurance company will repair the vehicle
• On-Road Assist: The customer can avail services such as locksmith, tire replacement & fuel delivery within the geographical limit of Kuwait by calling ‘On Road Assist’ at the number given in the Insurance Policy.
What do I need to know in case of a Motor accident?
• The most important is to stay calm.
• Move your vehicle to the side path for not disrupting traffic.
• Exchange information with the other drivers.
• Once all is fine, contact the Police.
• Please get a copy of police report because in case you wish to claim the damage from the insurance company, Police Report is required by the insurance companies to claim for Insurance.
• Contact the Insurance Company for further support. You will find the contact details of the Service provider on the Policy.
What types of Motor Insurance coverage are available in Kuwait?
Motor Insurance has 2 types of policies- Comprehensive Motor Insurance policy (MOD / Comprehensive) and Third-party Liability policy (TPL).
What are documents required for lodging the claim under Motor Insurance policy?
Mandatory copies of the police report, civil ID, driving license, and vehicle registration certificate are required.
Is it possible to renew an expired motor insurance policy either online or otherwise and what is the procedure?
Yes. An expired Motor Insurance policy can be renewed. However, in such a case, the survey/inspection of the insured vehicle is done by the insurance companies before renewal of the policy.
Medical/Health Insurance
Is there any eligibility criterion for having health insurance policy?
Anyone between the age group from 14 days to 65-years can take a Health Insurance policy. However, the insurer may ask you to go through a medical check-up to ascertain your health condition before issuing the policy. Basis the underwriting guidelines which include age, health condition, family history, etc. the insurer will determine to give you a health plan or not.
What does a Health Insurance Policy cover?
Medical expenses, including hospitalization, bed charges, surgery, lab tests, X-rays, and diagnostic tests, are covered as per the limits mentioned in the coverages section of the policy.
What are pre-existing conditions? Is there any waiting period for these conditions to make claims?
A pre-existing condition is a disease or illness that existed before you bought a medical insurance policy. The pre-existing conditions are liable to be covered or not covered as per the table of benefits in the policy before issuance.
How will the payment of claim be made?
After discharge of the patient, the payment can be made by the insurance company directly to the hospital. Such hospitals are called ‘network hospitals’ and the facility is referred to as ‘cashless facility’. Besides, in certain cases where the patient make the payment to the hospital on his own sources, the insurer/policyholder is reimbursed with the admissible amount by the insurance companies. In case non-network hospital reimbursement, the payment/reimbursement will be considered depending on the policy features.
What are network hospitals?
Network hospitals are hospitals/health units that have tied-up with TPAs (Third-party Administrators) or directly with the insurance companies.
Life Insurance
If my policy is not renewed in time before expiry date, will I be denied for renewal?
No, if the premium is missed on the due date, the policyholder can be cancelled as per the contract conditions, and the policyholder can pay extra fees to activate the policy.
What happens if payment of premiums is discontinued?
If the premium payment is discontinued the policy goes inactive immediately (Cancelled)
What is Term Insurance policy?
The Term Insurance Policy is a pure protection plan that ensures the financial freedom to your family/ dependents. It’s an agreement between the insurer and the policyholder, in which the policyholder needs to pay a pre-fixed premium amount. The insurer, on the other hand, assures the policyholder to pay the sum insured to the nominee/ beneficiary in case of the untimely death of the insured during the policy term, provided the policy is active and paid up to date.
Who should buy Term Insurance policy?
Term Insurance provides financial protection for your family, when you are not there to back them. If you are the sole earning member of the family, it is quite essential for you to secure the future of your family with a term plan. As, it is the pure protection plan, it comes with low premium rates and high sum assured.
What is the Life Insurance policy premium payment frequency?
Generally, life Insurance policy comes with a variety of payment plans such as monthly payments of the premium.
I have paid my policy premium. How can I check if it is applied to my policy?
You can check your policy details by registering to insurance service provider app.
What happens if the policy is lapsed or discontinued?
If the policy is lapsed, you need to Call/WhatsApp us on 55901644 and our representative will help you out.
Travel Insurance
What does Travel Insurance cover?
Travel Insurance covers a host of insurable incidents. The exact roster of instances varies from one plan to the next. But broadly speaking, here’s what you can expect a Travel Insurance plan to cover:
• Personal accident cover
• Hospitalization expenses (Corona coverages)
• Trip delays, cancellations or interruptions
• Loss or damage to baggage checked-in
• Loss of passport
For Travel insurance, is there a minimum period of a trip to be insured?
Every insurer has different terms regarding the number of days that can be covered under a travel insurance policy.
What is Loss of Baggage cover?
A policy compensates you for the loss of important travel documents, travel funds and personal possessions. The cover may differ from one plan to another.
What is the maximum age limit for Travel Insurance policy?
Travel policy covers for individuals up to the age of 65 years. However, a premium loading will be applicable for applicants aging between 66 years and above.
What are the coverages for Travel insurance policy for family?
Travel Insurance policy covers the insured person, spouse and a maximum of 6 children up to age of 18 years under one single premium. Children are covered for 30% of the sum insured of the principal (i.e. parent) for all medical and travel benefits.
Is the cover limit provided adequate for Embassy requirements?
The travel policy offers medical coverage ranging from USD 35,000 or more, which makes it fully acceptable to the requirements of an Embassy.
Property Insurance
What kind of properties can be covered?
Building, home, and chalet.
What types of risks are covered under properties Policy?
Properties all risk.
What information do I need to provide to buy a policy?
We only need your permanent address in Kuwait, Kuwaiti Civil ID number, mobile number and your email address.
What do you mean by Building Value?
The insured declared value of the building/villa/surrounding/property wall is called the Building Value and is inclusive of fixtures & fittings like air-condition/lights and surrounding structures like Majlis, servant’s/drivers quarters.
What is Total Sum Insured?
Sum Insured is the total estimated value of your personal/office contents and/or your building.
What do you mean by personal contents?
Valuable items like jewellery, electronic gadgets, unfixed household goods, vehicles and other personal effects that you own are your personal contents. They may include:
• Carpets – fixed and unfixed, internal blinds and curtains
• Furniture and furnishings, electrical appliances such as TVs, stereos, computers,
• Items that you are legally responsible for.
What does my policy cover?
Your policy will cover you for loss or damage caused by or arising out of:
• Fire, lightning and/or allied perils namely, storm, tempest, flood of seawater, impact of road vehicles, falling aircrafts and/or other aerial devices and/or articles dropped therefrom, loss or damage due to sprinkler leakage, riot, strike, civil commotion & malicious damage.
• Theft accompanied by actual, forcible and violent breaking into or out of a building or any attempt thereat, provided that during the period when the building is left without an inhabitant, cover against theft is suspended from the beginning of the sixty-first day of consecutive un-occupancy in any one period of insurance.
Marine Insurance
What is Marine (Cargo) Insurance?
The insurance of goods in transit from one place to another by any single mode or combined modes of sea, rail, road, air and inland waterways.
What does Marine Insurance cover?
Any unforeseen damages to goods on transit are covered.
What is covered under Marine (Hull) Insurance?
It covers loss/damage suffered to the structure of the ship.
Contractors All Risk/
Erection All Risk
What types of cover are available for industries and Civil Construction?
Two broad groups of Engineering polices are available for industries. These are:
i. Construction Phase Contractor's All Risk Insurance, Erection All Risk Insurance, Marine-Cum-Erection Insurance, Contracts Works Insurance.
ii. Operational Phase Machinery Breakdown Insurance, Boiler & Pressure Plant Insurance, Machinery Loss of Profit Insurance, Contractor's Plant and Machinery Insurance, Civil Engineering Completed Risk, Electronic Equipment and Deterioration of Stock Insurance.
