Ghana: Star Assurance Limited unveils an innovative product ‘Star Motor Third Party Xtra’ in Ghana

A renowned insurance company, Star Assurance Ltd has unveiled ‘Star Motor Third Party Xtra’ – an innovative product that revolutionises third-party motor insurance in Ghana.

This new offering allows third-party policyholders to enjoy some limited coverage for damage to their own vehicles – a significant departure from the conventional limitations of third-party policies.

Traditionally, third-party motor insurance only covers liability for damage and injuries caused by the policyholder while driving; leaving the policyholder’s own vehicle unprotected in case of accidents. This limitation has been a source of frustration for many vehicle owners.

In response to these concerns, Star Assurance has meticulously conducted customer-focused research and introduced a solution that bridges the gap. This transformative product is ‘Star Motor Third Party Xtra’.

Speaking at the Star Motor Third Party Xtra launch, Chief Executive Officer for Star Assurance, Mrs. Boatemaa Barfour-Awuah stated “The introduction of Star Motor Third Party Xtra aligns seamlessly with our organizational mission and vision, which is centered on creating exceptional experiences for our customers. This product underscores our commitment to attentively address the specific needs of our customers.

“This product is designed to cater for both existing and new customers who currently hold third-party policies with Star Assurance or other insurance providers. Whether their vehicles are for private or commercial use, ‘Star Motor Third Party Xtra’ is a versatile option.”

Explaining how ‘Star Motor Third Party Xtra’ works, Head-Product Development and Innovations, Star Assurance, Michael Adomako stated “By paying an additional premium of GH¢100 on top of the standard private car premium of GH¢468, Star Assurance now provides policyholders with coverage worth up to GH¢5,000 to repair glass damage – encompassing windshields, side-mirrors, windows, glass vents and inside rear-view mirrors.

According to Mr. Adomako, customers can acquire this new product through Star Assurance’s 20 branch locations as well as through its extensive network of agents and brokers nationwide. “The convenience of purchasing this product extends to digital platforms like Pokuaa – Star Assurances’ virtual assistant, and external providers such as Kowri and Total Ghana filling stations across the country,” he said.

Motor insurance is the most widely-sought-after type of insurance in Ghana, with a majority of policyholders opting for third-party coverage as reported by the National Insurance Commission. The ‘Star Motor Third Party Xtra’ signals an important development within the motor insurance industry which for 66 years has been mainly offering comprehensive, third-party, and third-party fire & and theft policies.

About Star Assurance

Star Assurance Company Limited, popularly known as ‘Star Assurance’ by the insuring public, is a member of the Star Assurance Group and is a privately-owned Insurance Company incorporated in August 1984 and licenced to carry out corporate and retail insurance business in Ghana. It has branch offices and retail outlets across the length and breadth of Ghana, ensuring that its products are brought to the doorsteps of all.