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What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? - Car Talk - Nairaland

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What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 9:53am On Mar 04, 2016
Every car owner in Nigeria pays vehicle insurance fees whenever they want to renew their car papers.
What is the essence of this fee when you cannot make an insurance claim after an accident or related events?
Where does this insurance money go and which company handles it?

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Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Emypresh(m): 9:57am On Mar 04, 2016
I work with an Insurance firm....Just last week we paid someone for a claim. He's was a Range Rover Sport. It's not a scam

6 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 9:59am On Mar 04, 2016
Emypresh:
I work with an Insurance firm....Just last week we paid someone for a claim. He's was a Range Rover Sport. It's not a scam

i am not referring to the one handled by private insurance companies.
I am referring to the one that is mandatory for all car owners.
Are we talking the same thing

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Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by wawaboy1(m): 10:01am On Mar 04, 2016
Emypresh:
I work with an Insurance firm....Just last week we paid someone for a claim. He's was a Range Rover Sport. It's not a scam

I paid 5k insurance to ANCHOR insurance during my vehicle papers renewal, So what you are saying is that I should go to ANCHOR insurance and make a claim anytime I have issue with my car.

8 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by dominique(f): 10:20am On Mar 04, 2016
Emypresh:
I work with an Insurance firm....Just last week we paid someone for a claim. He's was a Range Rover Sport. It's not a scam

He did a comprehensive insurance that's why he got paid. The one the op is talking about is a third-party insurance the government mandates every car owner to get. The money goes directly to the government's pocket and the car owner doesn't benefit from it in anyway. I'm yet to see anyone that has benefited from it.

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Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 11:26am On Mar 04, 2016
dominique:


He did a comprehensive insurance that's why he got paid. The one the op is talking about is a third-party insurance the government mandates every car owner to get. The money goes directly to the government's pocket and the car owner doesn't benefit from it in anyway. I'm yet to see anyone that has benefited from it.

ahaaa.... finally, someone that gets what i am talking bout!!

31 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Stylz69(m): 11:30am On Mar 04, 2016
It is NOT COMPULSORY for you to purchase your insurance from the vehicle licencing office. Fact is the insurance they sell is worthless and the only use is for you to complete your papers. Secondly, they rely on the ignorance of drivers to sell these fake insurance knowing drivers rarely make claims especially on 3rd party policies. When I renew my vehicle particulars, I only pay for the vehicle license. I go online and buy my 3rd party insurance from reputable insurance companies and print off my policy and attach. It is still the same 5000 naira for the 3rd party and I least I have the peace of mind knowing my 3rd party cover is genuine. Dominique, the 5000 does not go to the government; it goes to the crooks selling the worthless policies. How can you claim on a fake policy? Is there even any number to call in the event of an accident or any outlined process for making a claim?

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Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 11:31am On Mar 04, 2016
EVEN MY KEKE MARUWA PAY FOR THE FRAUDLENT INSURANCE! IT IS FAKE! INSURANCE MY FOOT

2 Likes 1 Share

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Whizkeey(m): 11:31am On Mar 04, 2016
H
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 11:32am On Mar 04, 2016
when I buy my car later this year I will comment.# sips orijin...

3 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 11:32am On Mar 04, 2016
Stylz69:
It is NOT COMPULSORY for you to purchase your insurance from the vehicle licencing office. Fact is the insurance they sell is worthless and the only use is for you to complete your papers. Secondly, they rely on the ignorance of drivers to sell these fake insurance knowing drivers rarely make claims especially on 3rd party policies. When I renew my vehicle particulars, I only pay for the vehicle license. I go online and buy my 3rd party insurance from reputable insurance companies and print off my policy and attach. It is still the same 5000 naira for the 3rd party and I least I have the peace of mind knowing my 3rd party cover is genuine. Dominique, the 5000 does not go to the government; it goes to the crooks selling the worthless policies.

if its not mandatory, why do policemen always insist on seeing it?
Saying that "its not mandatory" does not make it any less a scam. An insurance policy that you cannot claim is a scam.
A group of people have become trillionaires off this scam!


A government that scams its own people.
tufiakwa!

26 Likes 2 Shares

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by tuoyoojo(m): 11:32am On Mar 04, 2016
ok na
i just think its for one to "pass" those police check points, if u bash your car, na u and panal beater go bargain price

i had a representative from one insurance who came to my office, she said the cost of insurance is five percent the cost of the car

when i did the maths, the figures were not holy

so i jejely go do my third party stuff

7 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by ShitHead(m): 11:33am On Mar 04, 2016
Government is an assshole...lazy and extravagant.

3 Likes 2 Shares

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Firefire(m): 11:34am On Mar 04, 2016
magicminister:
Every car owner in Nigeria pays vehicle insurance fees whenever they want to renew their car papers.
What is the essence of this fee when you cannot make an insurance claim after an accident or related events?
Where does this insurance money go and which company handles it?




Scientific way of generating income to the state...

APC and their many fraudulent ways of reaping the masses off.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by kachnov(m): 11:34am On Mar 04, 2016
Ok..good question.

2 Likes 1 Share

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Stylz69(m): 11:34am On Mar 04, 2016
magicminister:


if its not mandatory, why do policemen always insist on seeing it??
What part is false please?

1 Like

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by AZeD1(m): 11:34am On Mar 04, 2016
magicminister:


if its not mandatory, why do policemen always insist on seeing it??
How is it false? I buy car insurance online and not at the licencing office.

You car must be insured but you can buy insurance from anywhere. You don't have to buy at the licencing office.

9 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by jarkbauer: 11:35am On Mar 04, 2016
No be govt
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by richidinho(m): 11:36am On Mar 04, 2016
F
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by ipledge10(m): 11:37am On Mar 04, 2016
K

1 Like

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 11:37am On Mar 04, 2016
Revenue it is. But for the Oga at the top.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by jaybee3(m): 11:37am On Mar 04, 2016
If you can afford to buy a car worth millions of naira then comprehensive is the way to go.

1 Like

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Stylz69(m): 11:38am On Mar 04, 2016
Stylz69:

What part is false please?
Magicminister, comprehension is really important! I didn't say you don't need insurance, I said you don't have to buy your insurance from VIO. I said the insurance they sell is worthless and you cannot make claims on it. I said the only purpose that insurance serves is to complete your papers. If you want real insurance cover, buy from a broker or directly from the insurance companies online. However if you are happy to just have complete papers, then buy from VIO

8 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Cavenchy(m): 11:38am On Mar 04, 2016
Keep asking until your fund seeking government finds this thread and makes it compulsory for every car owner in your Nigeria to pay for full comprehensive insurance before your car can be allowed on her roads. In most countries comprehensive insurance cover is compulsory and costs even more than some cars themselves. Other countries have a compulsory 3rd party insurance and Nigeria is one of such. The officers extorting money from you at the offices have seen that Nigerians love shortcuts. If you want genuine insurance cover go and get it from an insurance company directly, no one would actually force you to buy the fake. The people patronising them don't want to get proper insurance. So don't come here to ask questions when you got a fake insurance cover to evade the authorities.

7 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 11:38am On Mar 04, 2016
Firefire:



Scientific way of generating income to the state...

APC and their many fraudulent ways of reaping the masses off.
SHUT UP! NA THIS ADMINISTRATION START AM NI? I HAVE BEEN PAYING FOR THE FRAUDLENT INSURANSE SINCE 2012 ON MY KEKE MARWA

18 Likes 2 Shares

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by dominique(f): 11:39am On Mar 04, 2016
Stylz69:
It is NOT COMPULSORY for you to purchase your insurance from the vehicle licencing office. Fact is the insurance they sell is worthless and the only use is for you to complete your papers. Secondly, they rely on the ignorance of drivers to sell these fake insurance knowing drivers rarely make claims especially on 3rd party policies. When I renew my vehicle particulars, I only pay for the vehicle license. I go online and buy my 3rd party insurance from reputable insurance companies and print off my policy and attach. It is still the same 5000 naira for the 3rd party and I least I have the peace of mind knowing my 3rd party cover is genuine. Dominique, the 5000 does not go to the government; it goes to the crooks selling the worthless policies. How can you claim on a fake policy? Is there even any number to call in the event of an accident or any outlined process for making a claim?

Then why does FRSC and VIO insist on seeing it and they impound your vehicle if you can't produce it? I believe a good part of the money paid is remitted to government purse. I keep wondering what purpose us this fee supposed to serve especially when it got quadrupled almost overnight?
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by goodnewscliff(m): 11:40am On Mar 04, 2016
nw,, its 99percent 4 their galfriends feeding allowance....trust me on this one

1 Like

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by AdeniyiA(m): 11:42am On Mar 04, 2016
EXTORTION & OPPRESSION
To know an irresponsible and inconsiderate government, it's not hard. Any policy which requires the citizens to cough out their hard earned money just for our leaders to mismanage,it's welcomed in Nigeria.
Not a single vehicle has being insured in Nigeria, do you know the government makes people to obtain certificate of road worthiness on unworthy roads, pay more for unavailable power,oppresses us with our resources? etc yet tax you heavily.?
The immigration tragedy was a typical way the government extorts and oppress without any commensurate provision of the promises attached...
Nigeria leaders are the worst set of leaders I have ever seen angry

6 Likes

Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by adepiero: 11:42am On Mar 04, 2016
dg
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Stylz69(m): 11:43am On Mar 04, 2016
magicminister:


if its not mandatory, why do policemen always insist on seeing it?
Saying that "its not mandatory" does not make it any less a scam. An insurance policy that you cannot claim is a scam.
A group of people have become trillionaires off this scam!


A government that scams its own people.
tufiakwa!
The scam is not carried out by the government. It is private individuals and the VIO involved. I think the VIO get a kick back from every policy sold. In summary...you have a choice. If you want to give your 5000 naira to the VIO, that's fine. I prefer to pay mine to the insurance company directly. Like I said, government is in no way involved in this. Government had no business providing insurance cover. You do not get a government receipt for the insurance cover so leave government out it. You are being scammed by he VIO and private individuals.

5 Likes

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