IUM | Third-party liability annual premium review
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IUM third-party liability annual premium review, effective 1 March 2020
IUM underwrites the motor Third-Party Liability section separately in an effort to avoid general premium increases on the material damage, theft and fire perils of our motor portfolio. Our latest review has indicated that excessive Third-Party Liability claims are negatively affecting the overall motor results.
In order to continue to providing competitive motor premiums, IUM will only be applying an increase to the Third-Party Liability portion of the motor book.
With effect from 1 March 2020 the new Third-Party Liability premiums will be as per the table below:
Subsection B: Liability to third-party Sum insured Current monthly premium New premium 1 March 2020 Increase
Busses passenger liability R 2 500 000 R 40 R 40 -
Busses passenger liability R 5 000 000 R 60 R 60 -
Busses passenger liability R 10 000 000 R 80 R 80 -
Busses passenger liability R 20 000 000 R 160 R 160 -
Busses passenger liability (fare-paying passengers) R 2 500 000 R 210 R 210 -
Busses passenger liability (fare-paying passengers) R 5 000 000 R 290 R 290 -
Busses passenger liability (fare-paying passengers) R 10 000 000 R 400 R 400 -
Busses passenger liability (fare-paying passengers) R 20 000 000 R 800 R 800 -
Busses: 12 to 30 Seats R 2 500 000 R 120 R 155 R 35
Busses: 12 to 30 Seats R 5 000 000 R 170 R 225 R 55
Busses: 12 to 30 Seats R 10 000 000 R 220 R 295  R 75
Busses: Over 30 Seats R 2 500 000 R 150 R 155 R 5
Busses: Over 30 Seats R 5 000 000 R 200 R 225 R 25
Busses: Over 30 Seats R 10 000 000 R 275 R 295 R 20
Busses: Up to 12 Seats R 2 500 000 R 80 R 80 -
Busses: Up to 12 Seats R 5 000 000 R 120 R 120 -
Busses: Up to 12 Seats R 10 000 000 R 150 R 180 R 30
Commercial Trailers R 2 500 000 R 30 R 60 R 30
Commercial Trailers R 5 000 000 R 50 R 80 R 30
Commercial Trailers R 10 000 000 R 70 R 100 R 30
Commercial Trailers R 20 000 000 R 100 R 150 R 50
Commercial Trailers (Tool of trade) R 1 000 000 R 50 R 50 -
Commercial Trailers (Tool of trade) R 2 500 000 R 75 R 80 R 5
Commercial Trailers (Tool of trade) R 5 000 000 R 100 R 120 R 20
Commercial Vehicles R 2 500 000 R 120 R 155 R 35
Commercial Vehicles R 5 000 000 R 170 R 225 R 55
Commercial Vehicles R 10 000 000 R 220 R 295 R 75
Commercial Vehicles R 20 000 000 R 270 R 365 R 95
Commercial Vehicles (clean up costs - side tanks) R 500 000 R 125 R 125 -
Commercial Vehicles (Tool of trade) R 1 000 000 R 50 R 50 -
Commercial Vehicles (Tool of trade) R 2 500 000 R 80 R 80 -
Commercial Vehicles (Tool of trade) R 5 000 000 R 120 R 120 -
Light Commercial Vehicles R 2 500 000 R 40 R 80 R 40
Light Commercial Vehicles R 5 000 000 R 60 R 120 R 60
Light Commercial Vehicles R 10 000 000 R 80 R 180 R 100
Motorcycles R 2 500 000 R 30 R 50 R 20
Motorcycles (Passenger liability) R 250 000 R 50 R 50 -
Plant All Risks (Contract site) R 2 500 000 R 40 R 50 R 10
Plant All Risks (Contract site) R 5 000 000 R 60 R 80 R 20
Plant All Risks (Contract site) R 10 000 000 R 80 R 120 R 40
Plant All Risks (Liability to third parties: road risk) R 2 500 000 R 120 R 155 R 35
Plant All Risks (Liability to third parties: road risk) R 5 000 000 R 170 R 225 R 55
Plant All Risks (Liability to third parties: road risk) R 10 000 000 R 220 R 295 R 75
Plant All Risks (Liability to third parties: road risk) R 20 000 000 R 270 R 365 R 95
Plant All Risks (Tool of trade) R 1 000 000 R 50 R 50 -
Plant All Risks (Tool of trade) R 2 500 000 R 75 R 80 R 5
Plant All Risks (Tool of trade) R 5 000 000 R 100 R 120 R 20
Private Motor (Domestic Policy) R 2 500 000 R 40 R 40 -
Private Motor (Domestic Policy) R 5 000 000 R 60 R 60 -
Private Motor (Domestic Policy) R 10 000 000 R 80 R 80 -
Private Motor (Passenger liability - fare-paying passengers) R 2 500 000 R 125 R 125 -
Private Motor (Passenger liability - fare-paying passengers) R 5 000 000 R 175 R 175 -
Private Motor (Passenger liability - fare-paying passengers) R 10 000 000 R 275 R 275 -
Private Motor (Passenger liability - fare-paying passengers) R 20 000 000 R 550 R 550 -
Private Motor Commercial policy R 2 500 000 R 40 R 80 R 40
Private Motor Commercial policy R 5 000 000 R 60 R 120 R 60
Private Motor Commercial policy R 10 000 000 R 80 R 180 R 100
Private Trailers and Caravans R 2 500 000 R 20 R 30 R 10
Private Trailers and Caravans R 5 000 000 R 30 R 50 R 20
Special Types R 2 500 000 R 120 R 155 R 35
Special Types R 5 000 000 R 170 R 225 R 55
Special Types R 10 000 000 R 220 R 295 R 75
Special Types R 20 000 000 R 270 R 365 R 95
Special Types (Tool of trade) R 1 000 000 R 50 R 50 -
Special Types (Tool of trade) R 2 500 000 R 75 R 80 R 5
Special Types (Tool of trade) R 5 000 000 R 100 R 120 R 20
Supercars R 5 000 000 R 80 R 100 R 20
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