Hi Good Day,

Straight Up!

THIRD-PARTY

Standard Premium - 5,000 for Car, 7,500 for Bus, 10,000 for Trucks.
Compulsory in Nigeria.

Features & Benefits
• Provides cover for Third Party property damage.
• Provides cover for Third Party bodily injury or death.

When you get into an accident that is deemed your fault, please do not allow yourself get into a disgraceful situation lol, simply issue a well toned apology, or offer to repair third party's vehicle, get the receipts documented and initiate a claim. Your insurance company would compensate you for the damages caused to a maximum of 1 million.
The expenses are generally health expenses, mechanical repairs expenses to third party’s vehicle, or repair to third party’s property as in the case where by you have hit someone’s else fence or something.

That's about it. It doesn't cover you at all, you take care of your self.

It is compulsory in Nigeria and created so as to protect other users of the road when you're driving.

Fun Fact: 99.9 Third party motor insurance certificates in Nigeria are "oga police, let me pass"

For your claim to be valid, you need to make sure you have a legit one done for you by your personal insurance agent (5,000, not 2.5 or 1.5, some companies will collect, but when claim time comes, its a herculean task).

You can crosscheck your insurance certificate on the Nigerian insurance data base by imputing your number plate Here


Now to the big boy;


COMPREHENSIVE

Standard premium - 5% of the declared value of the car.

Features & Benefits

• Provides cover for loss or damage to the insured vehicle by fire, theft, flood or accidental collision.
• Covers medical expenses for the insured.
• Provides cover for burglary and breaking in.
• Takes legal liability for damage to other vehicles and damage to property belonging to Third Party.
• Takes legal liability for death or bodily injury to third party
• Covers legal cost and expenses such as solicitors fees from any court prosecution after resulting from the accident.


This kind of insurance basically keeps your mind at full rest. You are indemnified in accidents deemed your fault or not, hit and run accidents and all other kind of accidents. For example, during the scenario of the 28th June 2018 Otedola bridge fire incident, owners of affected cars if comprehensively insured gets a brand new same car, or a cash equivalent of the insured value.

In the case of regular kind of accidents in day to day Lagos driving, your insurance company repairs your car or buys you new car if the cost of repair is not logical, they also repair the third parties properties, they pay for the medical expenses resulting from the accident and so on depending your insurance company.

I don't know about other insurance companies, but the one I do business with provides other little complementary benefits such as a complimentary free e-taxi service during the process of repairing your car, also they pay for towing costs from the accident site, also the cover is extended such that it covers immediate family members of the Insured, medically.

There are so many other benefits, you just have to be in touch with your insurance agent (that is the agent who underwrote your insurance for you) for more expatiation.

Finally,

Some tips on Buying Motor Insurance

• Patronize legit registered and regulated insurance companies.

• Make sure you have a personal Insurance agent most preferable the person who helped you in purchasing the insurance (usually a staff of the company) this is so that you can be properly advised and attended to when you need to process a claim.


CC: Marpol, lalasticlala, seun

Good News.

I just got a mail, and it was one of the best things I had seen in a while...

I'm pleased to pass this news that you can get Motor Comprehensive Insurance for 2% Premium. Not the Standard 5% or 3.5% before... 2 Percent!!

This mea simply, if you have a 1.5 million naira to 2 million naira car, Your annual premium rate will be 30,000 - 40,000 for full comprehensive coverage instead of the Former Price of 52,500 - 70,000.

I'm excited now because my client can save more or thier insurance bills and still get the same robust comprehensive coverage.

There were other rates slash in other products, but since this is Autos, I could only write products related to motors.

I don't know if the slash is for a limited period, but I hope someone somewhere can take advantage of this

Check signature.