Motor Vehicle Insurance

What is Motor Vehicle Insurance and Why do I Need it?

Motor vehicle insurance protects a car owner against financial loss due to unpredictable events like auto accidents, fires and natural disasters. The insurance policy will also respond to pay to third parties for injury or damage to property caused by you in an accident.

Minimum Third party insurances are mandatory by Law in Trinidad and Tobago for any vehicle being driven in a public place.



What types of Motor Insurances are there on the Market?


Comprehensive policies provide the widest coverage. The policy would protect the owner from financial loss for damage to their vehicle caused by accidents, fires, theft etc.

It will also respond to pay to third parties for injury or damage to property caused by you in an accident.

A comprehensive private motor policy provides the following additional benefits without any additional premium:

  • Damage to garage by fire
  • Medical expenses incurred in respect of occupants in the vehicle following accident
  • Personal accident coverage to insured/spouse
  • Clothing and personal effects

Cover against losses caused by natural perils such as Flood, Hurricanes or Earthquakes as well as cover for breakage of windscreens can be purchased at an additional cost.


Third Party - Fire and Theft

Third Party Fire and theft would protect the owner from financial loss for damage to the vehicle caused by Fire or Theft only.

The policy will also respond to pay to third parties for injury or damage to property caused by you in an accident.


Third Party Only

The policy will only respond to pay to third parties for injury or damage to property caused by you in an accident.


Additional Benefits

The insured under a private motor vehicle policy may also obtain the following benefits for additional premiums:

  • Flood, hurricane, earthquake, volcanic eruption, riot and strike
  • Windscreen breakage

Windscreen breakage claims as an additional benefit or extension are not subject to any excess and the insured’s safe driver discount is not affected.



Which Type of Motor Insurance should I choose?

Comprehensive policies offer the widest form of coverage but are usually the most expensive to purchase. Owners of vehicles that are subject to a mortgage are usually required by the financial institution to procure a Comprehensive Motor insurance policy to protect the mortgagor’s interest in the vehicle.


While this is the most desirable cover, insurers generally have restrictions on granting Comprehensive cover based on the age, condition and type of the vehicle. You should therefore contact your insurer to ascertain whether your vehicle can be covered under a comprehensive Motor policy.


Your Third Party insurance policy does not provide financial compensation to repair your vehicle following an accident or any other loss.

It is the minimum mandatory insurance cover required by law in Trinidad & Tobago for a vehicle being driven in a public area. The cost for this cover is therefore lower than Comprehensive or Fire & Theft policies



What do I need to get Motor Vehicle Insurance?

  • Completed Proposal form (
  • Two forms of photo identification
  • A recent Utility Bill
  • Certified copy of ownership, or Pro forma invoice for vehicle to be insured
  • Proof of all discounts
  • Government inspection certificate for vehicles five (5) years and older from date of manufacture.


What Discounts can I get at COLFIRE?

COLFIRE prides itself in its innovation of designing niche motor insurance discounts and plans, which offer specific benefits in its premium calculations and reward in lower excesses and protection of the Safe Driver Discount (No Claim Discount).

We are prepared to offer a special discount to you with any motor policy taken out or renewed. The following is a list of the other possibilities:


First Experience Driver’s Plan

COLFIRE has devised a plan for drivers under 25 years or persons who have been driving for less than 2 years. Once the young driver has successfully completed a defensive driving program they qualify for Reduced Excesses, No Young Driver Loadings, Discounts off the insured's Insurance Coverage and Accumulation of their own Safe Driver Discount.


Female Drivers Plan

This plan offers female drivers and vehicle owners premium discount of up to 20%. The excesses for accidental damages are approximately 25% lower than the normal excesses.


Safe Driver Discount

COLFIRE has replaced the traditional No Claim Discount (NCD) with the Safe Driver Discount (SDD) which rewards drivers for safe driving. This discount is increased for each year of safe driving and is never lost all at once. A claim made during any policy year will only result in the driver stepping back to his previous level. No premium payment is necessary for the discount one has earned over the years. Our SDD is as high as 65%.


Baby on Board

We believe that people drive better when they have a baby in the car, that's why we are giving a COLFIRE Baby on Board motor discount. Once the insured is a parent or guardian of a baby under four years, then he/she can receive up to 20% motor premium discounts.


None for the Road

  • Do you drink alcoholic beverages?
  • Does your spouse drink alcoholic beverages?
  • Does any named driver drink alcoholic beverages?

If you answer ‘No’ to all of these questions you qualify for a discount on your insurance premium.



Where can I purchase or get more information about Motor Vehicle Insurance?

You can call or visit for more information.