Bike Loan Protection Cover
Designed for riders with financed motorcycles or those under SACCO/bank motorcycle loans.
Secure Your Investment & Future
Taking a loan to purchase your motorcycle was a significant step toward financial independence. But what happens if you're unable to make payments due to an accident, illness, or other unforeseen circumstances?
Our Bike Loan Protection Cover ensures that your loan obligations are met even when you can't work, protecting both your credit standing and your family's financial security.
Who This Is For:
- Riders with bank-financed motorcycles
- SACCO members with motorcycle loans
- Riders in asset financing programs
- Loan guarantors seeking protection
Key Benefits
Loan Balance Settlement
In case of death or total permanent disability, we'll pay off the remaining loan balance, ensuring your family doesn't inherit the debt and the motorcycle remains with them.
Monthly Installment Support
If you're temporarily unable to work due to an accident or illness, we'll cover your monthly loan installments for up to 6 months, giving you time to recover without financial stress.
Loan Guarantor Risk Cover
Protection for those who have guaranteed motorcycle loans, ensuring they're not left with financial burden if the primary borrower is unable to pay due to covered circumstances.
Income Continuation Option
Beyond just covering the loan, this option provides additional income support for your family's daily needs during your recovery period or in case of permanent disability.
How It Works
Enroll
Register through your SACCO, bank, or directly with us. We'll need your loan details and basic personal information.
Choose Coverage
Select the coverage options that best suit your needs and budget. Premium can be added to your loan or paid separately.
Claim When Needed
If you're unable to work, simply file a claim through our WhatsApp line, mobile app, or with an agent. We'll handle the rest.
Frequently Asked Questions
Can I get this cover if I've already started repaying my loan?
Yes, you can enroll at any point during your loan repayment period. The coverage will apply to the remaining loan balance.
What happens if I finish paying my loan early?
If you pay off your loan before the insurance term ends, you can either receive a partial refund of premiums or convert the remaining coverage to our standard Boda Rider Income Protection Cover.
Does this cover motorcycle repairs after an accident?
This specific cover focuses on loan protection. For comprehensive motorcycle coverage including repairs, we recommend adding our Boda Rider Income Protection Cover.