Accidents are unavoidable. Everyday in Lagos, you see myriads of car accidents resulting to punches between motorists.while an informed and knowledgeable driver avoids such scenario and immediately calls his insurance company once he has a genuine insurance cover even if it is the minimum cover under law which is the third party insurance cover[/color] ,and is quite common among motorists because of its affordability and costs 5,000 naira
Third party motor insurance cover covers your liability to third party.i.e Driving to work,thinking about the harsh economy and you re lost in thought and accidentally hit a vehicle,the insurance company will pay the cost of repairing the damaged vehicle up to a limit of 1,000,000,so pray you don't [color=#000000]hit a range rover sport driven by a colonel and the cost of the inner light is 2,000,000,because,the insurance company will only pay 1,000,000 and leave you with the colonel so you can settle the outstanding 1,000,000 ,and am sure you know the outcome.,
kindly note that the insurance company is not responsible for repairing your vehicle if it is affected by the accident, unless you get comprehensive insurance cover.so when such claim arises , walk up to your insurance company(the address and name of the insurance company is on your certificate of insurance) with the angry colonel, i pray you still have enough strength to walk after some multifarious slaps.make sure you take the pictures of the affected vehicle and your own vehicle and receive your instant claim up to 1,000,000 naira.am sure the insurance company will pity you, mere sighting your swollen face
so that insurance paper you bought for 5000 is worth a million naira.ask me questions in case you need further clarification on motor insurance cover.

trustoceans:
Accidents are unavoidable. Everyday in Lagos, you see myriads of car accidents resulting to punches between motorists.while an informed and knowledgeable driver avoids such scenario and immediately calls his insurance company once he has a genuine insurance cover even if it is the minimum cover under law which is the third party insurance cover[/color] ,and is quite common among motorists because of its affordability and costs 5,000 naira
Third party motor insurance cover covers your liability to third party.i.e Driving to work,thinking about the harsh economy and you re lost in thought and accidentally hit a vehicle,the insurance company will pay the cost of repairing the damaged vehicle up to a limit of 1,000,000,so pray you don't [color=#000000]hit a range rover sport driven by a colonel and the cost of the inner light is 2,000,000,because,the insurance company will only pay 1,000,000 and leave you with the colonel so you can settle the outstanding 1,000,000 ,and am sure you know the outcome.,
kindly note that the insurance company is not responsible for repairing your vehicle if it is affected by the accident, unless you get comprehensive insurance cover.so when such claim arises , walk up to your insurance company(the address and name of the insurance company is on your certificate of insurance) with the angry colonel, i pray you still have enough strength to walk after some multifarious slaps.make sure you take the pictures of the affected vehicle and your own vehicle and receive your instant claim up to 1,000,000 naira.am sure the insurance company will pity you, mere sighting your swollen face
so that insurance paper you bought for 5000 is worth a million naira.ask me questions in case you need further clarification on motor insurance cover.

Are you now saying that by renewing my 3rd party insurance papers once a year with just N5000, in the advent of an accident, the insurance company would repair the other person's car to the tune of N1,000,000 (ONE MILLION NAIRA)?!

DaimlerBen:

Are you now saying that by renewing my 3rd party insurance papers once a year with just N5000, in the advent of an accident, the insurance company would repair the other person's car to the tune of N1,000,000 (ONE MILLION NAIRA)?!

Your N5,000.00 Third party only insurance is worth N1,000,000.00 less excess. It covers the following:
Third party property damage upto N1,000,000.00
Third party bodily injury or death
We are talking about genuine insurance cover not the roadside insurance certificate. To confirm if your motor insurance policy is genuine check it on www.askniid.org

herrlekan:


Your N5,000.00 Third party only insurance is worth N1,000,000.00 less excess. It covers the following:
Third party property damage upto N1,000,000.00
Third party bodily injury or death
We are talking about genuine insurance cover not the roadside insurance certificate. To confirm if your motor insurance policy is genuine check it on www.askniid.org

My question was, does this apply to a N5000-once-a-year renewal or there's a monthly premium?

[quote author=DaimlerBen post=48640067]
My question was, does this apply to a N5000-once-a-year renewal or there's a monthly premium?[/quote

from my understanding of vehicle documentation, its just ur 5k annual renewal, there is no monthly premium.

remember it covers d damage done to d 3rd party, not d insured!

pattybf:
from my understanding of vehicle documentation, its just ur 5k
annual renewal, there is no monthly premium.
remember it covers d damage done to d 3rd party, not d
insured!

I still find it hard to believe. N1,000,000 for a N5,000 renewal? Anyone with a faulty hard-to-repair car could just simply beg a friend with kabukabu to smash into his car so that their respective insurance companies take of the mess.

DaimlerBen:

I still find it hard to believe. N1,000,000 for a N5,000 renewal? Anyone with a faulty hard-to-repair car could just simply beg a friend with kabukabu to smash into his car so that their respective insurance companies take of the mess.

w
well it depends on the car the friend is driving, i don't think a reasonable fellow will purposefully and deliberately smash his Ferrari with a rough car.its for real and i have helped my clients to recover claims up to 1million naira.you just have to channel your insurance through a broker/agent

trustoceans:
w
well it depends on the car the friend is driving, i don't think a reasonable fellow will purposefully and deliberately smash his Ferrari with a rough car.its for real and i have helped my clients to recover claims up to 1million naira.you just have to channel your insurance through a broker/agent

What if the Ferrari needed, maybe say, a new radiator, and the owner couldn't afford one, couldn't he go that route? Just tell the friend to reverse a little & bash the grille, then blame the radiators damage on the accident.