In its simplest sense, auto insurance is smart planning — planning that can help protect you from expensive, sometimes devastating surprises.

Think of auto insurance as part of your total financial plan; a powerful tool that can help:

• Safeguard the investment you’ve made in your car
• Shield you from the costly damages of an accident-related lawsuit
• Protect you from uninsured or under-insured motorists
• Pay for damage repairs due to theft, vandalism, or natural disasters; and, of course,
• Strengthen your peace of mind, every time you take to the road.

What is Third Party Insurance?

Third Party is the Government mandated coverage in order to operate a motor auto in the Cayman Islands. This coverage provides protection for you in the event you cause an accident where there is property damages and/or bodily injury to anyone else. If you caused property damage to someone in an accident, we would provide coverage up to $250,000 KYD to repair or replace the property for that other person. If you caused bodily injury to someone in an accident, we would provide coverage up to $1,000,000 KYD to any 1 person for a total of $5,000,000 KYD for EVERY person injured in one accident.

Comprehensive Insurance is additional coverage to Third Party Insurance. This coverage provides protection in the event that your own auto is damaged as a result of a collision, fire, theft, vandalism, falling object, damaged windscreen, hurricane, flood, and other natural disasters.

Your deductible is the self-elected amount you are responsible to pay first in each and every claim involving your own property damage. Saxon will be responsible to cover the amount over your deductible up to the stated value listed for your auto .

Saxon will insure young drivers between the age of 17 and 21.  The requirements to insure a young driver are:

• The auto must be insured AND registered in a parent/guardian’s name

Restricted Policy – ONLY the specifically named drivers listed on the policy

Open Policy – Typically any driver between the ages of 25 – 75; that possesses at least 1 year of driving experience; that possesses a valid Driver License to operate a motor auto in Cayman; and obtains your permission to operate the auto .

You may cancel your policy with Saxon at any time during your policy period by returning your original Cover Note/Certificate of Insurance and completing a Policy Cancellation Form. If you have a 12 month policy, you may elect to receive a pro-rated refund by way of cheque, less a 10% cancellation fee. Any policy holder may also elect to transfer their credit to another policy holder OR to leave the credit on their account until they obtain a new auto .

Saxon offers the maximum no claims discount to all clients that are accident/incident free WITHOUT the need of obtaining a No Claims Letter from your previous insurance carriers.

In order to insure a motorcycle/scooter, you must have the appropriate endorsement as identified by the Departement of auto and Drivers Licensing:

Group 0 – Mopeds less than 50 cubic centimetres

Group 1 – Motorcycles (which includes mopeds and motor scooters) with cylinder capacity not exceeding 125 cubic centimetres.

Group 1A – Motorcycles with a cylinder capacity exceeding 125 cubic centimetres and includes auto s in Group 1.

Group 2 – Group 0, motor cars.

You may feel free to give us a call and we can renew over the phone with your debit/credit card information. You may also renew by making an online bank transfer from Cayman National Bank, Bank of Butterfield, or First Caribbean International Bank. We will then be able to email your new renewal documents.

However, you are always welcome to come in and renew with one of our agents in the office on Eastern Avenue, across the street from Uncle Bill’s at our new Grand Harbour location.

You can access our online portal or give us a call over the phone with your debit/credit card information. Additionally, you can make an online payment from Cayman National, Butterfield Bank or First Caribbean. Simply email insurance@saxon.ky with a copy of your online banking payment receipt and be sure to include your policy number. Customers are also always welcome to visit our offices at Eastern Avenue or Grand Harbour to make a payment in person. Click here for more information on how to make a payment online.