Adjuster: Person who investigates and settles auto insurance claims.
Arbitrator: An appraiser appointed to resolve an impasse in a dispute (e.g., the value of a claim) between you and your insurance company. The dispute resolution process is described in the Arbitration clause of your policy.
Authorized driver: Someone permitted to drive the Motor Vehicle as specified in the Policy and Summary and Schedule to the Policy. These can be identified individually by name or some other common characteristics (see the Summary and the Schedule) and they must also be the holders of valid driver’s licenses for the class of vehicle to which the Motor Vehicle belongs. The insurance is invalid if the Motor Vehicle is being driven by someone who is not an Authorized Driver. An Authorized Driver may not, unless the Policy says otherwise, be:
under 25 years of age or over 70 years of age, or
a learner driver
Certificate: The document issued by us to you and which is required by the applicable law(s). Unlike your policy, you must have your certificate (or cover note, which is a temporary certificate) safely stored in your car at all times. It is the document that the police or relevant authority will require you to show them as evidence that you are in compliance with the appropriate law(s).
Comprehensive: A comprehensive policy includes third party coverage and insures you against damage to your car and to other vehicles.
Deductible: The amount of money that you will have to pay repairers for fixing or repairing your car as the result of an accident. You will also be responsible for this amount in the event of the total loss of or damage, by any means covered by your policy, to your vehicle. It is the dollar amount for which you are responsible in the event of a covered claim. There is no deductible for third party coverage.
Endorsements: An alteration to the wording of the Policy noting a change in terms or details of the Policy.
Geographical Area: The Cayman Islands.
Indemnify: Saxon putting you back in the same financial position as you were in immediately before the loss or damage for which you have an admissible claim (noun = indemnity).
Insured/policyholder: The person or entity identified as the policyholder in the Schedule of the Policy.
Legislation: The Motor Vehicle (Third Party Risks) Act, or any amendments or revisions to that Act, including its regulations.
License: The driver’s license together with any necessary permit as required pursuant to the applicable laws of the Geographical Area, other than a learner’s permit, issued by the relevant licensing authority
Market Value: The price prevailing on a vehicle in the Cayman Islands of the type and in similar condition to the one that you have insured with us, immediately before the accident giving rise to a claim, and which would likely have been agreed between a willing seller and a willing buyer.
Period of Insurance: The period of time covered by this Policy, as shown in your Schedule, or until cancelled. Each renewal represents the start of a new period of insurance.
Policy: The contract of insurance between you and us to include the proposal form, policy, Summary, Schedule, Certificate and any Endorsements or other amendments to the policy from time to time.
Premium: The sum of money you pay, or agree to pay us, in exchange for us granting you the insurance coverage.
Restricted or Open Policy: In a restricted policy, the Authorized Drivers of the Motor Vehicle are restricted to particular named individuals. In an open policy, anyone who is a valid license holder and between the ages of 21 and 70 is an Authorized Driver.
Schedule: The part of the Policy headed as the schedule. We will issue one Schedule irrespective of the number of Motor Vehicles you have insured with us.
Spouse: Your wife or your husband by a marriage union recognized by the laws of the Cayman Islands.
Summary: The part of the Policy headed as the summary. We issue one summary for each Motor Vehicle you have insured with us.
Third Party: The legal minimum for driving in the Cayman Islands. Third party car insurance covers your liability for injury to others (including passengers) and damage to other people’s property.
VIN: A unique serial number used by the automotive industry to identify individual motor vehicles.
Your Estimate of Value: The estimate you have given us of the value of your Motor Vehicle. This is not necessarily the amount you will receive in the event of the total loss of your Motor Vehicle. The amount you will receive in settling a total loss will be the lesser of your estimate of value provided on the proposal form and the then Market Value adjusted for factors such as depreciation and the application of your Deductible. Your Estimate of Value is the maximum you can receive less the Deductible.
What our customers say about Saxon.
Discover how Saxon's smart, innovative products are improving customers lives.
Two St. Ignatius High School students – Daniel Champoux and Robbie Rutkowski are the November
team of the month winners in the Saxon Investment Club program for the 2017-2018 school year. Their
team, 'Exponential Growth' had the highest return (20.42%) for the month of November among
Whatever happens, your investment is protected with Saxon’s property insurance policy. Backed by Lloyd's the global insurance leader, your policy is issued by Saxon. We use innovative technology to settle your claims fast.Doing business is always easy with Saxon whether by email, live chat, in-person, or by phone. Saxon is Smart insurance.
In another first innovation in the Cayman Islands insurance market, local insurer Saxon has employed the use of drones for data gathering, imaging and surveying purposes of residential properties that the company insures.
The Saxon Secret Door Party was held on Thursday, March 10th at the George Town Yacht Club was the crescendo of the Saxon Geo Quote Contest which ran from November 2nd, 2015 until February 29th, 2016. The contest was launched when Saxon announced the addition of Property Insurance to their product line.
Saxon uses sophisticated technology to determine vehicle risks called a Rating Engine. The Rating Engine identifies where a customer’s vehicle was manufactured, what the engine size is, various safety features and even what trim options it has because not all vehicles are created equally.
Thirty-seven people participated in the social media promotion. The contest called for Cayman motorists to submit photos of their damaged vehicles to the ‘Saxon Fix My Ride website’. Contestants requested their friends to vote for them and shared their photos. At the conclusion of the contest there were a total of 7000 “likes’ and over 11,000 unique visitors to the contest site
Dozens of high school students will be spending the next six months trading stocks, managing investments and learning about the financial markets, as part of the Saxon Investment Club programme for high school and college students.
World Record holder, Olympic Gold Medalist and arguably the fastest man in the world Usain Bolt touched down at Owen Roberts International Airport yesterday day morning on a Cayman Airways 737 from Kingston Jamaica to unprecedented fanfare requiring crowd control
Attention Wall Street, Bay Street, Portugal and Greece: your future and recovery just might lie in the hands of a handful of student investors in Grand Cayman. That's right - an extracurricular group of young students have found that their investment portfolio is up by more than a hundred percent
One of the Saxon Investment Club groups calling themselves Modern Day Investors would appear to have something to teach the portfolio managers of Toronto, New York and London. More impressive is their leading streak for four months running.
This is the second consecutive year that the Cayman Islands will join the rest of the world in honouring the achievements and positive contributions of men and boys. A generous community donation by Saxon made these activities possible.
Saxon has commenced its annual Drivers Education Programme in partnership between Saxon Motor and General Insurance Company, Prestige Motors, Cico Avis Rental Car Company, the Department of Vehicle and Drivers Licensing (DVDL) and the Ministry of Education.
Saxon is sponsoring the Cayman Islands Motorcycle Riders Associations (CIMRA) 2012 Toy 4 Tots Toy Drive running December 3 through 12, 2012. New, unwrapped toys can be dropped off at Saxon Centre and will benefit local families.
Saxon a wholly owned Caymanian company and the leading insurance provider serving the Cayman Islands have named the grand prize winner of its License To Win contest held during the recent Pirates' Week events; Henry Ferguson of George Town
Based out of Cayman Islands Saxon, have helped finance the FC International football training camp in the Cayman Islands. Founded in 1993, hundreds of youth ages 6 to 16 from across the Cayman Islands have participated in the football camp learning fundamental skills and athletic leadership.
An elite group of students are about to once again prove that it's never too early to start managing your money. This year's Saxon Investment Club was launched on October 1st to local high school and college students ages 14-19;
Saxon (Saxon), a leader in insurance and buy online services, announced today its partnership with Brac Insurance as official partners in Cayman Brac to expand services for the firm's growing customer base in the Cayman Islands.
VVolunteers from the Cayman Islands Animal Humane Society (CIHS) had an incredibly challenging couple of months with storms flooding the shelter areas leaving enclosures uninhabitable for the many cats and dogs living there.
Saxon Motor & General Insurance Company Ltd. began its public school drivers education programme with co-sponsors dms Organisation Ltd., Prestige Motors, Avis, the Cayman Islands Ministry of Education,