Motor Premium Rate (Enclosure of Directive No.

OP/UWBO/0041/2023)

Motor Premium Rate

Applied effective from 22nd September 2023
Minimum
No. Description
Premium Rate
(Flat)
Motor Private
Special Vehicles 2%
All Suzuki Brand Vehicles(Except special vehicles)

All Hyundai and Kia Brand Vehicles(Except special vehicles)

Mitsubishi Xpander, Attrage, Jajero, Mirage and Eclips

Chery X70, X90,dashing Bistune (These are vehicles commonly known in the market
1 asJetour)
1.35%
Ford and Chevrolet Brands (Except special vehicles)

Nissan V8, Nissan Juke, Nissan Kicks & Nissan Centra

Other Private Vehicles (Excluding Motorcycles & Electric Vehicles) 1.25%

All Electric Vehicles including hybrids 3%
Motorcycles including three wheelers 1.4%
Motor Commercial
2.1 Goods Carrying
2.1.1 Own Goods

Special Vehicles 1.75%

Pick-Ups and Vans(Not in special vehicles list) 1.35%
Mini Trucks, Trucks & Truck Trailers(Not in special vehicles list) 1.4%
Water Tanker(Not in special vehicles list) 1.4%
Fuel tanker & Trailers(Not in special vehicles list) 1.6%
All types Tippers((Not in special vehicles list) 1.6%
2.1.2 General Cartage
Special Vehicles 2%
Pick-Ups and Vans(Not in special vehicles list) 1.4%
Isuzu NPR 2.75%
Isuzu FSR/lsuzu FVR 1.85%
All other Mini Trucks, Trucks & Truck
Page 1 of 6 Trailers(Not in special vehicles list) 1.6%
Water Tanker(Not in special vehicles list) 1.6%
 Motor Premium Rate (Enclosure of Directive No. OP/UWBO/0041/2023)

Fuel tanker & trailers(Not in special

vehicles list) 1.9%
All types of Tippers(Not in special vehicles
list) 1.75%
2.2 Passenger Carrying
2.2.1 Own Service (Buses and Minibuses) 1.4%
2.2.2 Public Service (Fare Paying)
Up-to 16 Seats 3.25%
Between 17-30 Seats 2.5%
All buses Above 30 Seats 2%
2.2.3 Taxi & Learner (Including Three Wheelers) 2%
Electric Vehicles licensed for taxi service
2.2.4 and learners 3.5%
2.2.5 Car Hire including tour operators 2.16%
Electric Vehicles licensed for car hire and
2.2.6 tour operators 3.5%
2.2.7 Motorcycles including three wheelers 1.6%
2.3 Agricultural vehicles 1.3%
2.4 Ambulance 2.00%
2.5 Funeral Vehicles 1.75%
Special Vehicles (Fire Trucks, Ready-Mixed
Concrete Carryers, Mixer Trucks, Forklifts,
Breakdown Vehicles, Mobile Cranes, 2%
2.6 Airport Vehicles, Long Wheel Tippers,
Communication Tool Mounted Vehicles,
3 Motor Trade
Premises Risk - 1% of the
Sum Insured Road Risk
3.1 Garages and Maintenance Workshop Birr 2,000 Per Named
Driver Maximum Sum
Insured Limit - Birr
200,000 Per Vehicle For

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 Motor Premium Rate (Enclosure of Directive No. OP/UWBO/0041/2023)
Premises Risk -
0.75% of the Sum Insured
Road Risk
Birr 2,000 Per Named Driver
3.2 Car Dealers and Others Maximum Sum Insured Limit -
Birr 200,000 Per Vehicle
For additional sum insured
request, apply 0.7% on the
additional amount.
*Theft will not be covered under motor trade insurance.
General Remarks: -
1. The minimum flat premium rate both for named and unnamed driver basis cover is now the
same.
2. Minimum premium to be charged for a vehicle shall continue as per the previous motor rate
chart and it is the same both for annual and short period policies.
3. Directive no OP/UWBO/0036/2023 issued in relation to Electric Vehicles Underwriting is still
intact and this directive makes no alteration on it.

4. In addition to the above rates, the following shall apply to comprehensive businesses:
i) Additional (Optional) Covers: -

a) Fire & Lightning (as an extension to TPL cover): 70% of the basic OD rate
b) Territorial Extension
Djibouti: 10% loading on the respective motor premium amount
Eritrea: 10% loading on the respective motor premium amount
Sudan: 10% loading on the respective motor premium amount
Kenya: 10% loading on the respective motor premium amount
Somalia: 15% loading on the respective motor premium amount
South Sudan: 15% loading on the respective motor premium amount
c) Increase in Third Party Liability Limit
4- Motor private: 1.5 % of the increased limit
4- Commercial and all others 2% of the increased limit
d) BSG extension (within Ethiopia):
For all private vehicles: 0.2%
For all commercial vehicles: 0.3%

ii) Duty Free Loading: a) 50% on the basic premiums of both motor Private & Commercial vehicles of
individual customers
b) 30% on the basic premiums of both motor Private & Commercial vehicles of
NGOs and other organizations with fleet of duty free vehicles.

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 Motor Premium Rate (Enclosure of Directive No. OP/UWBO/0041/2023)
iii) Accessories Premium Rate

S/N Accessory Type Sum Insured/ Liability limit Premium

1
Tape recorder/ CD Player Up to birr 5,000.00 5% of the sum insured
2 Carry boy
Based on invoice/ Insured or 2% of the sum insured
surveyor estimation
3 Bull bar 2.5% of the sum insured
Based on invoice/ Insured or
surveyor estimation
4 Roof rack 1.5% of the sum insured
Based on invoice/ Insured or
surveyor estimation
5 Side Wind deflector 2.5% of the sum insured
Based on invoice/ Insured or
surveyor estimation
6 Head light decors Based on invoice/ Insured or 2.5% of the sum insured
surveyor estimation

iv) Short Term Rates: Vehicles insured or renewed for a period less than one year shall be rated on the basis
of short period rates as shown hereunder

Duration Rate
Up to 1 month 15% of the annual premium
Exceeding 1 month but not exceeding 2 months 20% of the annual premium
Exceeding 2 month but not exceeding 3 months 30% of the annual premium
Exceeding 3 month but not exceeding 4 months 40% of the annual premium
Exceeding 4 month but not exceeding 5 months 50% of the annual premium
Exceeding 5 month but not exceeding 6 months 55% of the annual premium
Exceeding 6 month but not exceeding 7 months 65% of the annual premium
Exceeding 7 month but not exceeding 8 months 75% of the annual premium
Exceeding 8 month but not exceeding 9 months 85% of the annual premium
Exceeding 9 month but not exceeding 10 months 90% of the annual premium
Exceeding 10 month but not exceeding 11 months 95% of the annual premium
Above 11 Months Full annual premium

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 Motor Premium Rate (Enclosure of Directive No. OP/UWBO/0041/2023)
Excess Amendment on Motor Class of Busines
S.No Type of Vehicle/Policy Excess

Compulsory Excess Theft (Compulsory)

1 All Motor Private 10%* Wiz_Min 2,000.00
Policies

5%* Wiz_Min 1,000.00

2 Commercial Policies
2.1 Goods Carrying Vehicles
2.1.1 Own Goods
2.1.1.1 Pick-Ups and Vans 10%* Wiz_Min 4,000.00

5%* Wiz_Min 2,000.00

2.1.1.2 Trucks & Truck Trailers,
Isuzu NPR/FSR Vans and
similar vehicles
5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00
2.1.1.3 Water Tankers, Sanitary
Tankers

5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00

2.1.1.4 Fuel Tankers and Trailers

5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00

2.1.1.5 Tippers

5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00

2.1.2 General Cartage
2.1.2.1 Pick-Ups and Vans 10%* Wiz_Min 6,000.00

5%* Wiz_Min 3,000.00

2.1.2.2 Trucks & Truck Trailers (Except Isuzu
NPR/FSR, Tata, Eitcher,Shackman, 5%* with minimum
Daewoo,Volvo, KIA, Scania, Nissan, Birr
Jiefang/Dongfang, Mitsubishi) 7,500.00 10%* Wiz_Min 15,000.00
2.1.2.3 Isuzu NPR/FSR,Tata, Eitcher, Shackman,
Daewoo, Volvo, KIA, Scania, Nissan,
Jiefang/Dongfang, Mitsubishi and 10%* Wiz_Min
Similar Vans 10,000.00 10%* Wiz_Min 15,000.00
2.1.2.4 Water Tankers, Sanitary Tankers

5%* Wiz_Min 7,500.00 10%* Wiz_Min 15,000.00

2.1.2.5 Fuel Tankers and Trailers

10%* Wiz_Min
10,000.00 Page20,000.00
20%* Wiz_Min 1 of
1
 Motor Premium Rate (Enclosure of Directive No. OP/UWBO/0041/2023)
2.1.2.6 Tippers (Except China Make)

5%* Wiz_Min
10,000.00 10%* Wiz_Min 20,000.00
2.1.2.7
China Make Tippers
10%* Wiz_Min
10,000.00 10%* Wiz_Min 20,000.00
2.2 Passengers Carrying Vehicles
2.2.1 Own Service 10%* Wiz_Min 6,000.00

5%* Wiz_Min 3,000.00

2.2.2 Public Service (Fair Paying)

10%* Wiz_Min
10,000.00 20%* Wiz_Min 20,000.00
2.2.3 Taxi (Including three wheels)
5%* with minimum
Birr
5,000.00 10%* Wiz_Min 10,000.00

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 Motor Premium Rate (Enclosure of Directive No. OP/UWBO/0041/2023)

2.3 Car hire 5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00

2.4 Learner (Including three wheels) 5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00

2.5 Motorcycles including three wheels 5%* Wiz_Min 1,500.00 10%* Wiz_Min 3,000.00

2.6 Agricultural Vehicles 5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00

Special Vehicles (fire trucks, ready-

mixed concrete carriers, mixer
trucks, forklifts, breakdown
10%* Wiz_Min
2.7 vehicles, mobile cranes, airport 20%* Wiz_Min 20,000.00
10,000.00
vehicles, long wheel tippers,
communication tools mounted
vehicles, refrigerator mounted
vehicles, crane mounted vehicles
Ambulance and Vehicles used for
2.8 5%* Wiz_Min 5,000.00 10%* Wiz_Min 10,000.00
Funeral Services

Excess on claims leading to the
replacement of major body and
2.9
mechanical parts (only for
commercial policies).
5% of each and every loss in addition to the
compulsory excess whenever cabin and/or chassis
and/or engine block are damaged and replaced.

2.10 Motor Trade 5%* Wiz_Min 5,000.00

* Of the repair cost or the market value/the sum insured

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