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THE STORY BEHIND ATOMIC JUNCTION EXPLOSION

The twin explosion which occurred at the Atomic Junction on 7th October, 2017, had many concerns raised once again, as it was the eighth to have occurred in the past three years. Most of the issues are directed at the planning regulations and policies to control the development of these filling stations, but there is more to that. GhanaCompares.com blog team is here to update you. What about the lives lost? What about the medical bills? What about the damaged property? According to George Owusu,…

How to Shop for Car Insurance in Ghana

Car insurance is one of the most popular insurance policies in Ghana. This is probably because Ghanaian regulations require that all motor vehicles should have insurance. Because of the popularity of car insurance, most insurance companies offer some variation of motor insurance. Therefore, if you are shopping for car insurance you are going to have a whole range of options for you. This article will help you pick the best one for you. The first thing you have to decide is what you need the motor…
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Personal Factors That Affect Insurance Rates in Ghana

For someone who holds an insurance policy, the cost that you bear is the premiums you pay to the insurance company. To the insurance company, the receipts from the person insured must be adequate to cover the risk of a misfortune happening to him or her. The person purchasing the insurance policy reasonably wants to reduce the premiums he or she will pay while the insurance company wants to maximize the premiums they will be receiving. In order to reach a price that will be agreeable to both parties,…

10 Steps to Buying Auto Insurance in Ghana

So you have managed to acquire a vehicle. Congratulations. You must no doubt be eager to get it on the road and see what it can do. But not so fast – there are regulations in Ghana that must be met if you want to use a vehicle on Ghana’s roads. You must have a valid drivers license, the vehicle must be registered and be certified road-worthy. Finally, you must, have auto insurance for your vehicle. This post will present a simple 10-step approach to meeting the requirement of having auto insurance…

Young Ghanaian Drivers and Car Insurance

One of the most exciting experiences any young person in Ghana will have is having a car for the first time. Apart from the convenience that having a car will bring in terms of movement, it is also a status symbol which gives one some social capital. But having a car as a young Ghanaian is not all about fun, there are responsibilities which come with it. A car requires regular maintenance to ensure that it does not break down and leave you in a critical situation. You also have to be more concerned…
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Keeping Track of Your Insurance Policy

If you are like most people in Ghana, once you sign up for an insurance policy you do not take the trouble to make regular enquiries about what is happening. In fact, you only take note of your policy when you have to make premium payments or even worse, when you need to make a claim. This may not look like a big deal at first glance, but this article will explain why it is dangerous and what one can do to avoid it. For far too many people in Ghana, it is only when an unfortunate incident happens…
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Is insurance a scam? 

A popular but unfortunate perception among some people in Ghana is that the whole business model of insurance is a scam. Just search for “insurance” and “scam” on google and you will be sure to see several arguments by people in conspiratorial tones about how the insurance companies do nothing but take people’s money in the form of premiums and give nothing back. To be fair, some insurance companies do nothing to prevent this kind of perception. They offer bad policies that are expensive…
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Keeping Track of Your Insurance Policy

If you are like most people, once you sign up for an insurance policy you do not take the trouble to make regular enquiries about what is happening. In fact, you only take note of your policy when you have to make premium payments or even worse, when you need to make a claim. This may not look like a big deal at first glance, but this article will explain why it is dangerous and what one can do to avoid it. For far too many people, it is only when an unfortunate incident happens and they try to…
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6 tips for your insurance

The private health insurance in Ghana has been authorized by the National Health Insurance Act, 2012(Act852) which is being regulated by the National Health Insurance Authority Insurances are done in order to plan ahead or protect one in times of unexpected calamities. Many Ghanaians also insure themselves to avoid surprises. However, there is the need to know the various policies that these insurance covers as well as the cost of the insurance which could be affordable to Ghanaians. GhanaComapres.com…

Unique Insurance rolls out new motor package

Unique Insurance Company Limited (UIC) has rolled out a comprehensive motor package to reward drivers who drive safely and do not get involved in any accident throughout the year. Dubbed the “No scratch promo”, the package is aimed at encouraging safe driving and minimising road accidents. The Managing Director (MD) of Unique Insurance, Mr Victor Obeng-Adiyiah, made this known in an interview with the Daily Graphic in Accra last Tuesday. Promotion Explaining the concept, Mr Obeng-Adiyiah…

How to choose car insurance that matches your budget

When it comes to car insurance in Ghana, there are no ifs or buts to it, you need to have it. It is a requirement of the law that every vehicle – commercial or private – should have an insurance policy. The question then becomes how one can decide on the kind of car insurance that one should have. It may seem tempting to decide to take the cheapest car insurance policy that may be on offer. After all, if the law requires that you should have any kind of insurance, what is the point of painstakingly…

Car Insurance policy from a Ghanaian perspective

Some Ghanaians say the insurance policies in Ghana are in a very bad position. Claiming that it is of a big challenge facing the nation. In addition, looking at how it is been run, it is in a negative direction therefore there should be a strong backing to move it forward. In Ghana, When one purchases a car there is the need to insure it because it is mandatory and a policy, which is called Motor Vehicles (Third Party Insurance) act, 1958. People insure their cars because they want to guarantee…

Why do you pay so much for your car insurance in Ghana?

Over 1,700 people died in over 16,000 traffic accidents in Ghana from January to October 2016, according to the Business & Financial Times. More than 9,000 people were injured. And one can only imagine the monetary cost of such unfortunate incidents with regards to damaged vehicles and hospital bills. With such frightening accident statistics, it is clear that Ghana’s roads are very dangerous. It certainly makes sense to take the most caution possible, which will involve having an insurance…

How to obtain car insurance in Ghana

In Ghana, one of the requirements of owning a car is that you must have an insurance policy for it. This requirement makes sense since there are a lot of things that can go wrong with a car, its driver and other road users in the course of using the car. Even if it were not a legal requirement, every car owner needs car insurance. Road accidents are unfortunately common in Ghana and in order that you do not find yourself left with a huge impromptu bill in the event of an accident, it is important…