Landers,
I need advise on which of the two options to take? To do Tracking device on the car or go for Comprehensive insurance? The car worth is 2.5M. Bought used from US.

Any idea on the cost of the two options? I need ur input

Tracking device is basically against car theft .
Comprehensive insurance is for both theft and accidents.
Most insurance companies now give car free tracking devices

@Obua,
Thanks. Which Insurance coy do you suggest.
I have IGI and Goldlink where live. Any good info on these two?

A few of my pals use GT assurance and International Energy Insurance.
Really I cant say which is best. I learnt that IGI can be very tough to deal with

Thanks for this info. I am based in Warri.

This leaves me with Goldlink. will check out others.

how much does d insurance cost, waoosa

nkc:

how much does d insurance cost, waoosa

This is what I want to know for a car worth N2.5M

well buddy, i dont know, but i prefer u choose tracking device, but when u get d price tell me

@NKC,
Will surely let u know. MY preference is also the tracking device.

MY base dey fear me for car theft. BY God Grace, accident is far from me.

waoosa:

Landers,
I need advise on which of the two options to take? To do Tracking device on the car or go for Comprehensive insurance? The car worth is 2.5M. Bought used from US.

Any idea on the cost of the two options? I need your input

Bro na your pocket kill am oh

A good tracking device that work well oh is 150k and 50k yearly for sub. with the device installed any insurance company would go as low as 3 - 7% of the total cost of purchase.

The ball dey ur hand kick am small small!

50k for sub, explain

nkc:

50k for sub, explain

the device is 100k + 50k (1 year subscription) = 150k

So every year you pay 50K for the rendered, because ur ride is been monitored 247

ok,thanks

ol boys make I tell una one latest gist about this tracking thing;

These tracking things work with the GSM networks. My wife works with a GSM coy that offers this to the tracking providers. Na so the boys take person car and wife last sunday in owerri. Till today, neither car nor wife has been seen or tracked!!!

The issue is that the networks are so poor that the efficency of the tracking device is greatly compromised. And if thats the cost (150K etc) I will go for comprehensive cover everytime. Infact I am happiest if my car gets stolen. Thats just an opportunity to get a new car

My insurance coy does 3- 5% of the insured value as premium so for a 2.5M car thats like 125K max. And that covers accidents as well theft. so think am well.

@fotodaddy,

u know most of dis insurance company can be a stiff neck when it comes to redeeming, so which do u know thats okay, and can i insure my small car(toks) and d percentage is it still between 3 - 5%

fotodaddy:

ol boys make I tell una one latest gist about this tracking thing;

These tracking things work with the GSM networks. My wife works with a GSM coy that offers this to the tracking providers. Na so the boys take person car and wife last sunday in owerri. Till today, neither car nor wife has been seen or tracked!!!

The issue is that the networks are so poor that the efficency of the tracking device is greatly compromised. And if thats the cost (150K etc) I will go for comprehensive cover everytime. Infact I am happiest if my car gets stolen. Thats just an opportunity to get a new car

My insurance coy does 3- 5% of the insured value as premium so for a 2.5M car thats like 125K max. And that covers accidents as well theft. so think am well.

Oga Fotodaddy,

I stand to disagree with you on this issue of all tracking provider using only the GSM network to track cars. No it’s a combination of GSM/GPS/digitalization of Nigeria & West Coast streets, creek way, etc. And if your car cannot be retrieved you get a new one back.

I don’t work for them but I have one installed in my car. I have reports send to me, if I even do more than 120km/h and so much…,

I used the named company (for security NO NAME) was 1st installed in my friends car, he was stopped at gunpoint and the guys went away with the car – when he got himself back – he called his alternate – the alternate called the provider and the car was locked and within 5mins the car was located and GPS coordinates was send and the nearest police station radio.

When the police got to the coordinates – the car was just sitting here.

A combination of Tracking Device & Comprehensive insurance is your best bet…. I wouldn’t say more because of…………,

@sheni

nice but which company do we choose from, d best?

bros Sheni,
I no give two hoots to recover a stolen car. Which one be my own. Insurance go give me new one.

I understand the hype about the tracking devices. And in a developed society where there is power and "network" and the whole country is mapped etc these things work very well. But in Naija, our environment will challenge the latest gizmo.

You see the fact is that in Naija, anything goes. So you get a tracking device. In whose interest is it anyway?? Away, the insurance companies lower your premiums if you have such a device. Even a face off radio goes to lower your premium. Here, you have to do everything yourself. Everybody to him own. As for me and my hose hold, when I insure my cars comprehemsively, I dont give a fig if its get stolen or not. So why should anyone care if their car is stolen. With a comprehensive cover its definetely not a loss to you. And like I said, if or when my car gets stolen, then thats just the perfect thing for me. Cos 1 to 2 months later I get a new one.

nkc, everyone is lookig for a deal. I use sovereign trust and I have come to understand that here, the service you get from a bank, insurance coy etc, is directly proportional to who you know there. I have no issues claiming on my policies. Infact I changed my windscreen cos it had a small crack on it in 4 days from invoice of dealer to insurance cheque. I didnt lift a finger. they came, took photos, and brought my cheques QED

My suggestion is to talk to them. Squeeze them now, even before the car comes so you can see you choice. Me I dey give them wahala. I get case for court against the German government, na insurance coy for Naija I no fit handle??

God pass them!!

@Fotodaddy,
You remember me. Na the CRV I told you that was taking time to land na im I dey talk about o. The Car Clean no be small. Odometer na 062200. Jenju will wait for the next one I am bringing. I have Goldlink, IGI , Equity recommended by people in Warri here. You know about them.

The equity guy is ready to do 5% for me.

@waoosa

u mean if u pay 5% of 2.5million now, God forbid, anything happens to d car, in a month, the 5% will handle it, problem free

tracking device cant insure against robbers spraying toyot outta ur sweet ride, a friend whos car was snatched around abeokuta shut it down thru tracking device, lailai, this guys towed the vehicle after hrs of looking roungd and npot getting the device location they sprayed the shit outta the car, tracking device huh?

nkc:

@waoosa

u mean if u pay 5% of 2.5million now, God forbid, anything happens to d car, in a month, the 5% will handle it, problem free

Yes O. Insurance will pay your money. A collegue got his 2007 Honda CRV stolen in January. He was given discount of 5%. meaning He insured for 5% of the cost of car. He got his money just last week.

Insurance seems better. Against Accident, theft etc.

@waoosa
Congrats!!! They say good things coe to those who wait!! From myexperience, the bottom line is who you know. This will either speed things up or not. Generally, for a car thats stolen the insurance coy have to be convinced that it canot be recovered before settling your claim. This is done via the police. I have a friend who waited for 6 months for his cheque. Another 8 weeks. Personally, I havent had any of mine stolen. And yes 5% takes care of it. (there are some deductions etc) but its nothing compared to the 2.5. So eventually you will be walking away with something like 2.2 to 2.3

@gaskinachi
My sentiments exactly! " tracking device huh" Complete wast of dough. More of effizzy than anything worth doing.

insurance all d way then , need to look for one where i will be looked at,lol

God's my number one insurer

@NKC/FOTODADDY,
Equity Insurance are on their way to my office now. Thanks.

Will post pix of the SUV to you soon.

waoosa,

Oya show us this super clean CRV

oya show us, and feed us back all yur details with the insurance guys

TrusTrack helps to reduce future insurance premium, with other benefits associated with the tracking device.

solaltd:
Trust Track helps to reduce future insurance premium, with other benefits associated with the tracking device.

Since 2008? I believe the author would have long figured things out.