Liberty Insurance, SafeBoda, and Stanbic Bank have joined forces to introduce Safe Insured Rides, a comprehensive insurance product designed to provide peace of mind for SafeBoda and SafeCar riders, drivers, and passengers. This innovative mass insurance product, known as “Plus Ride,” offers substantial coverage for accidents and damages, promising up to Shs1 million in insurance compensation for just Shs6,000 a month or Shs72,000 annually.
Launched on September 4th in Kampala, this partnership has reshaped the landscape of safety and security for Uganda’s SafeBoda users. The initiative underscores the commitment to ensuring the well-being of riders, drivers, and passengers alike.
Key Features of Safe Insured Rides:
- Affordable Premiums: For a nominal fee of Shs6,000 per month or an annual payment of Shs72,000, Ugandans can access insurance coverage of up to Shs1 million, making safety an accessible priority for all.
- Comprehensive Coverage: The insurance covers a wide range of scenarios, including accidents, damaged goods during delivery, permanent disability, and death resulting from an accident. Clients can receive up to Shs2.5 million in compensation, depending on the circumstances.
- Daily Compensation: SafeBoda riders who are unable to work due to injuries sustained in an accident will receive a daily compensation of Shs50,000 for up to 15 days, ensuring financial stability during their recovery period.
- Easy Payment Through SafeBoda App: Clients can conveniently pay their premiums directly through the SafeBoda App, making the process hassle-free and accessible to all.
Peter Makhanu, Managing Director of Liberty General Insurance Uganda Limited, expressed his enthusiasm for the initiative, stating, “The Liberty Plus rides offer coverage to SafeBoda customers who have chosen this ride as well as the rider while traveling in the event of death, permanent total disability, medical bills, and for riders, it offers additional cover in the event they are unable to work after 48 hours.”
Sam Mwogeza, the Executive Head of Personal and Private Banking at Stanbic Bank Uganda, emphasized the financial benefits of investing in insurance, saying, “Investing in insurance will enable our clients to have a more assured personal finance development journey, allowing them to save more without worrying about the usual challenges of life such as spontaneous medical expenses.”
Catherine Tulina Tafumbe, Country Director of SafeBoda, expressed her enthusiasm for the collaboration, highlighting that safety has always been at the heart of Safe Boda’s mission, and the new product aligns perfectly with their commitment to rider and passenger well-being.
In a country where transportation safety is a significant concern, the Safe Insured Rides initiative sets a new standard for ensuring the security and peace of mind of Boda users. As this partnership continues to evolve, it promises to revolutionize the way Ugandans perceive and prioritize their safety during their daily commutes.