What kind of benefits can I get from Motor Plan?

Cover will compensate for damages to insured vehicles caused by accident, theft or fire. It also covers damage to windscreens and theft of accessories. Furthermore, there is cover for Third Party Property Damage/or bodily injury and medical expenses cover to third parties who might get injured or whose property might be damaged by the vehicle.

Cover Includes:

a) Cover effective immediately once premium has been paid
b) Free valuation/assessment
c) Quick turnaround on claims
d) Comprehensive (with excess/excess buy back)
e) Third Party only
f) Third Party Fire and Theft


What type of motor cover can I get?

Comprehensive Cover

Covers policy holder's motor vehicle and third party vehicle or property damaged.

  • Third Party Limit on comprehensive cover – ZWL30,000.00
  • Rates: Private vehicle 5%, Commercial vehicles 6%
  • Excess on TOTAL LOSS is 7.5% of the sum insured
  • Excess on PARTIAL LOSS is 12% of the loss.
  • Excess on theft is 25%

Full Third Party Cover

  • This is a basic or minimum cover prescribed by law for all vehicles to use country's roads. Cover is for damages on Third Party vehicle or property only.
  • A client who insures their vehicle on Third Party means in the event they are involved in an accident, insurance only covers damages on the vehicle/property of the other (third) party the client has been involved in an accident with or whose property has been damaged.
  • In the event of theft of the vehicle, policy holder will not receive any benefit from Insurance as cover is for Third Party only.
  • Private and commercial vehicles can be covered under Full Third Party cover.
  • Limit on FTP is RTGS$2,500 although a customer can opt to increase.
  • Excess – does not apply for FTP cover as insurance policy does not cover policy holder.

Third Party Fire & Theft

  • Covers policy holder's vehicle against fire and theft as well as damages on Third Party vehicle or property.
  • Difference with Full Third Party is that on FTP, excess does not apply but on Third Party Fire & Theft Excess applies at the rate of 12% on total loss only
  • Third Party Fire & Theft does not have excess for partial loss, it's only for total loss – vehicle has either to be to be stolen or burnt down totally


  • Immediate notification of claims quoting the policy number, brief circumstances of the loss (including vehicle registration numbers where applicable), estimated cost of the claim and any supporting documents.
  • Any possible claim against the insurer should be notified as soon as possible or at the latest within 30 days of occurrence/ discovery.
  • Clients must be advised of turnaround period
  • Claims settlement for total losses will be based on the market value or value insured whichever is less.
  • Any pre-existing damage at the time a claim is lodged will be deducted from the assessed/ agreed figure.

Policy Cancellations

  • The customer may cancel the policy at any given time and premium will be refunded on a pro-rata basis for the remaining period provided there is still more than 30 days to expiry.


  • Minimum 18 years

Useful Information

  • For more information, please contact us on +263 (0) 242 254281-3 for direct consultant, email us on or visit your nearest Standard Chartered branch.

Terms & Conditions

Terms & Conditions

This insurance policy is underwritten by Old Mutual. The insurance coverage that this policy provides shall be at all times subject to the terms and conditions of the policy contract issued by Old Mutual. Standard Chartered Bank shall not be responsible for Old Mutual's actions or decisions under the policy contract nor shall Standard Chartered Bank be liable regarding payment of claims or services under the policy contract issued by Old Mutual.

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