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Nairaland Forum / Nairaland / General / Car Talk / What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? (18194 Views)
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Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by leaderWills(m): 6:40pm On Mar 04, 2016 |
Which insurance company is genuine and affordable, cos anchor insurance have been collecting my 5k with no benefit for me. I need 5k genuine insurance. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Yetealuv(f): 7:02pm On Mar 04, 2016 |
dominique: Why do you find it difficult to comprehend simple explanation? Smh. The guy said its not compulsory to get from the licencing office, it you get it directly from the insurance coy at the same 5k, they will give you your certificate and you can show that to the officials.non of the money gets to the government, it's the wayo people that issued the fake certificates that actually pockets the money. You can actually lay a claim on a third party if you damage another person's (third party)vehicle with yours, that is why it is called a third party insurance. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 7:10pm On Mar 04, 2016 |
chisco82:you sef sha... I very much doubt that's the reason, I guess it's not a common occurence here. It's those licencing officers that do that thing ba? I use them too,but they don't do that insurance for me, it's compulsory to have insurance but not necessarily that fake rubbish. If you have a legit insurance package, I doubt anyone can stop/harass you for not having the fake one. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass123(m): 7:20pm On Mar 04, 2016 |
Dad : Choi.. And this is what I'm reaping after sending you to school. Firefire: |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by lormarx: 7:34pm On Mar 04, 2016 |
Cavenchy:does the 3rd Party insurance you buy online or from other insurance company, cover your car insurance. That is the question here |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 7:43pm On Mar 04, 2016 |
U can actually lay claim on third party insurance provided u have original certificate of insurance from a reputable company because I work with one. BUT D COMPANY CAN ONLY HELP U 2 AN EXTENT MEANING, UR CLAIM IS LIMITED because DIS A THIRD PARTY INSURANCE WHICH U PAID ONLY 5K 2 D COMPANY. ALSO NOTE DAT D COMPANY CAN ONLY RESPOND 2 U IF U CRASH INTO ANOTHER PERSON'S CAR AND U HAPPEN 2 BE AT FAULT. DEN THE COMPANY WILL HELP IN FIXING THE THIRD PARTY'S VEHICLE AND NOT YOURS AND ALSO 2 A POINT. WHERE U GET UR 3RD PARTY INSURANCE DOES NOT MATTER. WHAT IS IMPORTANT IS DAT U CHECK D AUTHENTICITY OF D INSURANCE AND ENSURE IT'S IN D NIID'S DATA BASE. U CAN CHECK USING EITHER UR VEHICLE PLATE NO OR UR INSURANCE POLICY NO ON WWW.ASKNIID.COM. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bitingcool: 10:21pm On Mar 04, 2016 |
dominique: Took about a month. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by olaxy2(m): 10:38pm On Mar 04, 2016 |
Let's nt go into insurance details now. But if u get ur self a 3rd party insurance policy, I mean original policy u get covered on property damage to property of the 3rd party up to 250k if nt amended yet nd bodily injury or death to a 3rd party up to d tune of 1m 3rd party: person oda than the policy holder or property oda dan the policy holders own |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Drdreluv: 10:51pm On Mar 04, 2016 |
Fbn insurance leaderWills:contact me if u are ready |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Drdreluv: 10:53pm On Mar 04, 2016 |
Contact me for your car insurance.....First bank insurance truel the first! |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 5:03am On Mar 05, 2016 |
Stylz69:dude are you for real. I didn't know 'real ' insurance companies sold 3rd party o. na wa for ignorance o. and same price too |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 5:04am On Mar 05, 2016 |
magicminister:Wetin you get for reading and comprehension Mr man. abeg re read and modify this funny post of yours |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 5:06am On Mar 05, 2016 |
dominique:another child left behind.and if you say Nigerian graduates are substandard na..... |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 5:54am On Mar 05, 2016 |
mikolo80: make your point or stfu! |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 6:16am On Mar 05, 2016 |
magicminister:if you can't read a and comprehend two lines of very simple English and you think stfu is English you're finished. you bastardized vagabond from a worthless progeny |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 6:23am On Mar 05, 2016 |
mikolo80: loool... with all your English how much you get?? I'm here holidaying in exotic locations and having fun with bad bitchess and basically doing things that is above your pay grade for the next 50 years....and you tryna bring your broke nigga problems my way??... show some respect son! its 6.30 am in the your ghetto... get to work foo! nigga please!!! |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by onyeogalu1(m): 6:37am On Mar 05, 2016 |
AZeD1: what benefit do you derive from your third party insurance arrangement? Please enligthen us. Thanks |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by sultaan(m): 6:57am On Mar 05, 2016 |
chop money |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 11:59pm On Mar 05, 2016 |
magicminister:all those that hung with bad butches, who dem help. all this your Americana wey you de speak pesin go know say na either yahoo yahoo or drugs you de do (you no even fit sef ) real hustlers don't have time for nairaland |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 12:00am On Mar 06, 2016 |
magicminister:chei so being polite De pain pass rugged insult. ehn sorry en. adult education de o. it's not too late |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by shaicollins(m): 6:32pm On Jun 05, 2016 |
We are please to introduce our company - linkage Assurance PLC. Our company we offer you the following insurance cover as your need might arise . THIRD PARTY WITH LIMITED OWN DAMAGE(THE LINKAGE MOTOR PLAN PLUS ). This insurance policy covers loss of damage to third party Property. Death to third party as result of accident ,or medical expenses as a result of bodily injury from any accident to reasonable limit. The policy also covers own damage to a limit of #250,000.00 excluding fire damage and theft. By own damage ,we mean cost of repair of your own vehicle as a result of accident up to a limit of #250,000.00. The applicable amounts is a flat premium of #7,500.00 for private vehicles.contact me 09039302845 |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:24am On Oct 30, 2016 |
mikolo80: All insurance companies sell the 5k third party insurance |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:29am On Oct 30, 2016 |
Firefire: so 5k insurance started from APC? |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:37am On Oct 30, 2016 |
magicminister: VIO does not give insurance. You should get your insurance from insurance companies. VIO only acts on Nigerians lack of understanding of things and the fact that Nigerians are always in a hurry. So VIO guys act as agents for the insurance coys and get commission , but sometimes they just give your fake paper that is not from insurance companies. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:40am On Oct 30, 2016 |
anytexy: It is the law that your car must be insured before you can drive on public roads. And this is so anywhere in the world. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 4:52pm On Oct 30, 2016 |
bigass:good to know |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by kton(m): 3:19pm On Nov 18, 2016 |
In Nigeria, it is compulsory to have motor insurance before using or keeping a motor vehicle on public roads. However, since most Nigerians buy insurance just to get cleared from law enforcement agents on the roads, they choose to go for third party motor insurance which is a lot cheaper than comprehensive policy. Consequently, because of the preconceived notions that third party policy is just to beat law enforcement agents, many don’t realize that a third party policy is actually legal and indemnifies the insured from third party losses. Unfortunately, a lot of accidented vehicles which ordinarily would have been repaired by the insurance company are borne by the car owners. How third party works For a third party motor policy, the first party is you; the second party is the insurance company while the third party is everyone else. So third party motor insurance means that if you damage (crash into) someone else’s vehicle, the insurance pays the owner of that vehicle (the third party), or more importantly if you injure someone else with your vehicle, the insurance pays. Third party liability coverage is part of your basic motor policy and covers you for claims made against you by other drivers after a crash. In other words, under third party insurance you cannot claim for the car you are driving regardless of whether it is a brand new tear rubber. You need a comprehensive cover for that. If you are driving someone else’s car, it won’t pay to have the car you are driving repaired. Only the car you hit. If you are responsible for a crash, you might also be responsible for paying to repair another vehicle or covering its driver’s medical costs. Third party liability coverage protects you against these claims, covering the cost of damage and injuries sustained in a crash in which you were at fault. It is worthy of note that the money to pay for damages comes from the premiums. Invariable, if premium has not been paid for a third party motor insurance, there won’t be any compensation whatsoever, in case of accident. If you go for a third auto party insurance from a registered insurance company, you will be able to save yourself of the cost associated with causing damage to others. Assuming your car injured a pedestrian, the insurance company will pick up the medical bills and thus save you from being torn apart by the relatives of the injured. However, note that the claim you can make on an auto insurance policy is limited. So, find out the limit to the loss the insurance policy covers before subscribing. For example, an auto insurance policy may only cover loss up to a certain amount say N1,000,000. This means that if the vehicle you damaged is worth more than that, the insurance company will only provide N1,000,000. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by fabienjoe: 8:24pm On Nov 20, 2016 |
bigass: To buttress your point, the fundamental principle is that you should be a responsible driver. No one should incur losses due to your negligence or carelessness. Third party insurance is therefore the minimum allowed for every driver. It's not a government scam. It obtains in every country of the world. Nigerians go for the fake ones because real and functional insurance is not cheap. It is not same price for everyone. Younger and newer drivers tend to be charged more because they are believed to be more likely to crash and make a claim. The longer one drives without making a claim, the cheaper it becomes. However, if you crash your vehicle and make a claim, your subsequent premium rises. This would still happen even if you change your insurer as they can easily access your history through your car registration and driving licence. The cost of insurance for younger drivers can actually be higher than the worth of their car in some cases. The fake ones in Nigeria is nothing to do with the government. The money is shared by the licensing office staff. |
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by dawogbemila: 9:52am On Mar 21, 2017 |
Hi, I actually render delivery of renewed vehicle papers as a complementary service with third-party and comprehensive insurance. You can know more about me via my page https://davidsthoughts.site/facebook or https://davidsthoughts.site/FBpage2. I work with www.mbaplc.com as a Manager in our retail arm. Thanks in anticipation. You can reach me on 08038209658 via call or WhatsApp. Stylz69: |
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