Good morning all, I came across a thread at the front page where the poster is trying to get information on car insurance policies, my response came late so I thought I should open another thread for the sake of those who couldn't get my contributions.

Third Party Auto Insurance policy
Third party auto insurance is compulsory in Nigeria and protects car owners from losses caused by their cars on other people. For example, if your car runs into a pedestrian, kill someone, some ones property, or another car or you accidentally break another cars headlamp. However, in most such situations Nigerians will end up arguing or in a police station.

This is because although Third party auto insurance in compulsory most drivers do not know what it means. In fact, most Nigerian drivers just see it as one of the vehicle documentations they have to carry about to prove their ownership of their vehicle. This ignorance has allowed for lots of illegal insurance companies issuing fake and worthless third party auto insurance to unsuspecting Nigerians.

If you go for a third auto party insurance from a registered insurance companies, you will be able to save yourself of the cost associated with causing damage on others. Assuming your car injured a pedestrian, the insurance company will pickup the medical bills saving you from being torn apart by the relatives of the injured.

Third party auto insurance pays for damages your car cause on others and ignores any loss you personally incurred in the process. Let us say you have a third party insurance and your car ran into another car and deformed the door and as a result, your bonnet was also deformed, the insurance company will only pick the bill of the loss your car caused on the other car leaving you to your fate. To protect yourself and any third party go for a comprehensive auto insurance policy.
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 property you damaged is worth more than that the insurance company will only provide N1,000,000.
To get a third party auto insurance policy contact a registered insurance company or use the services of an insurance marketer.

Comprehensive Auto Insurance Policy
Comprehensive auto insurance is third party insurance and more. The more being that, Comprehensive auto insurance also indemnifies you from any personal loss. If you want to indemnify yourself against car theft, vehicle fires then you need a comprehensive auto insurance policy. Although not compulsory under Nigerian law, we recommended comprehensive auto insurance for all vehicle owners.

Most authorised auto dealers will give you comprehensive auto insurance cover as an option when buying a car. The auto dealer or an insurance company may also offer you a car-tracking device.
Note that auto dealers are not insurance companies, but only have relationship with them. So, make sure the insurance company the auto dealer is working with is registered and has good experience and reputation in auto insurance industry.
To get a comprehensive auto insurance policy, contact a registered insurance company or use the services of an insurance marketer . Comprehensive auto insurance policy covers private cars, Commercial vehicles (Taxis, Buses, and Hire Cars), Motorcycles, Tricycles, etc.

Locating an Insurance Company
The regulator of insurance in Nigeria is the National Insurance Commission, NAICOM. Visit NAICOM website at www.naicom.gov.ng for an up to date list of registered insurance companies in Nigeria. You will also find lists of registered insurance brokers and reinsurance companies.
You can also get a free quote to know which insurance policy is best for you and the available insurance companies you can walk on to on www.topcheck.com.ng
Happy eid - il-fitri and happy holiday.......................
cc:lalasticlala

To get the best insurance deal online, please visit www.custodianplc.com.ng/car-insurance for your comprehensive motor cover or www.custodianplc.com.ng/third-party-motor-insurance for your third party motor insurance

labamo07:
Good morning all, I came across a thread at the front page where the poster is trying to get information on car insurance policies, my response came late so I thought I should open another thread for the sake of those who couldn't get my contributions.

Third Party Auto Insurance policy
Third party auto insurance is compulsory in Nigeria and protects car owners from losses caused by their cars on other people. For example, if your car runs into a pedestrian, kill someone, some ones property, or another car or you accidentally break another cars headlamp. However, in most such situations Nigerians will end up arguing or in a police station.

This is because although Third party auto insurance in compulsory most drivers do not know what it means. In fact, most Nigerian drivers just see it as one of the vehicle documentations they have to carry about to prove their ownership of their vehicle. This ignorance has allowed for lots of illegal insurance companies issuing fake and worthless third party auto insurance to unsuspecting Nigerians.

If you go for a third auto party insurance from a registered insurance companies, you will be able to save yourself of the cost associated with causing damage on others. Assuming your car injured a pedestrian, the insurance company will pickup the medical bills saving you from being torn apart by the relatives of the injured.

Third party auto insurance pays for damages your car cause on others and ignores any loss you personally incurred in the process. Let us say you have a third party insurance and your car ran into another car and deformed the door and as a result, your bonnet was also deformed, the insurance company will only pick the bill of the loss your car caused on the other car leaving you to your fate. To protect yourself and any third party go for a comprehensive auto insurance policy.
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 property you damaged is worth more than that the insurance company will only provide N1,000,000.
To get a third party auto insurance policy contact a registered insurance company or use the services of an insurance marketer.

Comprehensive Auto Insurance Policy
Comprehensive auto insurance is third party insurance and more. The more being that, Comprehensive auto insurance also indemnifies you from any personal loss. If you want to indemnify yourself against car theft, vehicle fires then you need a comprehensive auto insurance policy. Although not compulsory under Nigerian law, we recommended comprehensive auto insurance for all vehicle owners.

Most authorised auto dealers will give you comprehensive auto insurance cover as an option when buying a car. The auto dealer or an insurance company may also offer you a car-tracking device.
Note that auto dealers are not insurance companies, but only have relationship with them. So, make sure the insurance company the auto dealer is working with is registered and has good experience and reputation in auto insurance industry.
To get a comprehensive auto insurance policy, contact a registered insurance company or use the services of an insurance marketer . Comprehensive auto insurance policy covers private cars, Commercial vehicles (Taxis, Buses, and Hire Cars), Motorcycles, Tricycles, etc.

Locating an Insurance Company
The regulator of insurance in Nigeria is the National Insurance Commission, NAICOM. Visit NAICOM website at www.naicom.gov.ng for an up to date list of registered insurance companies in Nigeria. You will also find lists of registered insurance brokers and reinsurance companies.
You can also get a free quote to know which insurance policy is best for you and the available insurance companies you can walk on to on www.topcheck.com.ng
Happy eid - il-fitri and happy holiday.......................
cc:lalasticlala

Very informative

pls do you have an idea how much it might cost for a comprehensive insurance...

Thanks a lot for giving us this vital information about car insurance agencies in Nigeria. I work at www.americaninsurance.com, so I would have never got this information at my office. I will write about this in my paper, though.