MabraO:


Op no mind those over sabi people way dey tell u say u are entitled to #500,00 oh. If u hit any car na u go beat all expenses ur insurance company no go give u chi chi.
But yearly u required to always pay ur 5k
Unless u get like 100k yearly to pay as premium before ur insurance copsny go listen to u

Instead of you to make your findings very well and be educated, you are saying what you know nothing about.

@Op, as the name implies, third party insurance covers damage to third party car and properties. Let me break it down for you.
If you hit another person's car and both cars (yours and the other person) got damaged badly, and you have a VALID third party insurance, that person's car would be repaired by the insurance company.

2,. Assuming there was brake failure and in the process, you hit another person's fence, your insurance company will definitely take care of the fence. (Meaning they will shoulder the responsibility of raising the fence back to its original position before the accident).

Why many people are not aware of all these benefits?
Majority are having fake third party insurance. It is not the duty of VIO to process third party insurance for you. They are to issue vehicle's licence only. Majority of these third party processed by them are fake.

Anytime you want to renew your vehicle's particulars, renew other papers excluding Insurance at VIO's office and walk straight to any genuine insurance company to get your valid third Party insurance certificate.

And for those saying you will be given #500, 000, you are not correct. The limit is actually #1m. If you hit another person's car and properties at the same time, as long as the total bill of estimate is not more than #1M, Insurance company will settle bill. But if it exceeds #1M, you will only be given #1M and you will be the one to balance it up.

Thank you.

leighcon:
Your likes were given to you by people as ignorant as yourself.

Insurance is a pool system, it is not your own premium (N5k) that they will spend to fix the car, the repair cost is taken from the pool where there have been other contributors. What it covers is subject to the terms and conditions stated in your policy.

5k own no dey work for naija joor
Just like 15k HMO

Just like telling me Mortgage work in Nigeria

leighcon:
You do not admit anything, you let your insurance company take care of agreements. Your cover may be void if you sign such agreements.

Lol....things doesn't work like that bro. If u don't admit that means u are not liable to repair the third party property

If you have a valid 3rd party insurance cover, your insurance covers repairs of the vehicle you damaged. The amount that can be claimed varies, but i'm almost certain for a minor fender bender, you should be covered adequately.

joinnow:


How long is the process from when u hit the car and when the bumper was replace by insuranxe company

Took 5weeks. Mutual

I was lucky EOD was a "company car" so there was a limit to how I was harassed.

And I made up my mind not to spend a kobo from my pocket due to the attitude of the driver.

She changed lane without signalling, I hit her good. Then she started shouting and clapping like a village girl. Threatening to lock me up send seize my car.

It was good pay back to delay.

mrintelligent:


Instead of you to make your findings very well and be educated, you are saying what you know nothing about.

@Op, as the name implies, third party insurance covers damage to third party car and properties. Let me break it down for you.
If you hit another person's car and both cars (yours and the other person) got damaged badly, and you have a VALID third party insurance, that person's car would be repaired by the insurance company.

2,. Assuming there was brake failure and in the process, you hit another person's fence, your insurance company will definitely take care of the fence. (Meaning they will shoulder the responsibility of raising the fence back to its original position before the accident).

Why many people are not aware of all these benefits?
Majority are having fake third party insurance. It is not the duty of VIO to process third party insurance for you. They are to issue vehicle's licence only. Majority of these third party processed by them are fake.

Anytime you want to renew your vehicle's particulars, renew other papers excluding Insurance at VIO's office and walk straight to any genuine insurance company to get your valid third Party insurance certificate.

And for those saying you will be given #500, 000, you are not correct. The limit is actually #1m. If you hit another person's car and properties at the same time, as long as the total bill of estimate is not more than #1M, Insurance company will settle bill. But if it exceeds #1M, you will only be given #1M and you will be the one to balance it up.

Thank you.

@joinnow

koksybrown:
They say ignorance is a disease and i hate disease with passion. I ran into a Brandnew 2017 Ford Focus carefully parked on the road side. Now i and the owner are at Coscharis to fix it. The bill is something.
What does my Third Party Insurance Cover? Someone should pls help me and others out here.


cc: lalasticlala

You are covered up to a maximum of 1,000,000 naira however the insurance company will deduct a policy excess of 100,000 leaving a total of 900,000. You are better of running into a human being. There is no limit on that :-). Anyway your concern should be that you have an original third party insurance which you can easily verify online. I speak from experience; sometime last year a lady ran into my company car and she was a third party holder. We rang up her insurance company and they paid up.

fkj950ax:


Took 5weeks. Mutual

I was lucky EOD was a "company car" so there was a limit to how I was harassed.

And I made up my mind not to spend a kobo from my pocket due to the attitude of the driver.

She changed lane without signalling, I hit her good. Then she started shouting and clapping like a village girl. Threatening to lock me up send seize my car.

It was good pay back to delay.

Good for u. The EOD was company car.
.
But believe me most people will not wait for five weeks to fix their car.
Had an experience dis is even comprehensive far.
Premium paid then is 128k or so hit a car from rear not me. We took the steps and docs process.
Fix the car with our money b4 insurance refund us part not total money spent. It took about two months

[quote author=koksybrown post=53679977]They say ignorance is a disease and i hate disease with passion. I ran into a Brandnew 2017 Ford Focus carefully parked on the road side. Now i and the owner are at Coscharis to fix it. The bill is something.
What does my Third Party Insurance Cover? Someone should pls help me and others out h


Your insurance company covers the cost of repairs on the other car I.e third party. Track down any insurance fa with the insurance firm,they should be able to help you .
You have my sympathies but drive more carefully OK?

leighcon:
Simply call your insurance company to state this and let us hear what they have to say.

By the way, why would a 2017 vehicle not have a comprehensive cover in place? The ideal thing is your insurers would both meet to negotiate the handling of the loss. The vehicle could have been wrongly parked you know.

What are you saying? I only had a 3rd party cover so whether it was wrongly parked or not is the the insurer's biz

joinnow:
I dont think it cover anything oooo
Just paper so police can not arrest u for driving without one.

Think about it what will 5k cover na
Panel beater, broken light or what

If you don't know, then be silent and learn.

moshino:


If you don't know, then be sient and learn.

Bros dont worry
I am saying in theory it work yes its stated in their policy but in practical all na Wash

I know insurance staff go quote me but
I wont reply any one again period.

Mouthgag:
In Nigeria, it covers nothing because tgey will delay and frustrate you if you try to want to claim anything.

it does, cos you are not meant to pay anything, the owner of teh damaged car is entitled to claim or get his/her car repaired by thier own Insurance coy then put i n the claims to your insurance company, you got nothing to do rather than spend your own money to repair ur own car.
The Bottom line is,if the person you hit does not have any insurance cover, they can not legally ask you to fix their car.

sniperwolf:


What are you saying? I only had a 3rd party cover so whether it was wrongly parked or not is the the insurer's biz

U r right, but if you are at fault, your premium is going up next year.

Exactly, it's the insurer's business, leave it to them to say something. We're on the same page.

sniperwolf:


What are you saying? I only had a 3rd party cover so whether it was wrongly parked or not is the the insurer's biz

To check the genuineness of your insurance, check www.askniid.org

koksybrown:
They say ignorance is a disease and i hate disease with passion. I ran into a Brandnew 2017 Ford Focus carefully parked on the road side. Now i and the owner are at Coscharis to fix it. The bill is something.
What does my Third Party Insurance Cover? Someone should pls help me and others out here.


cc: lalasticlala

I feel this will be helpful to explain this issue we are face with:
How third party insurance works

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. More importantly, as soon as the insurer thinks you are not acting ‘in good faith’ in other words they think you are trying to rip them off, they will refuse to pay that claim, cancel your insurance, report you to the police for fraud and put you on a blacklist. To get a third party auto insurance policy contact a registered insurance company or use the services of an insurance broker. Having good insurance If you think you can fight off against an unexpected disaster by yourself then that is great; otherwise, insurance is your best shot. Insurance means you do not have to be on the streets, if somehow the main family bread earner passes away, or the roof over your head is snatched or your life savings are stolen. In all these cases, a good insurance is your road to quick recovery. According to Mr. Yemi Soladoye, an insurance expert, the greatest asset insurance bestows is the absolute peace in case of most traumatic moments of ones life. “A dying man, who is insured for life, would breath his/her last in complete peace, knowing he/she can pass away without fretting over the financial state of his/her family. In automobile accident, you do not lay down in a panic attack, if the vehicle is properly insured. Hence it would be justifiable to claim that insurance brings an extra strength to face the worst upsets of life”, Soladoye said.

By ROSEMARY ONUOHA

Read more at: https://www.vanguardngr.com/2013/03/how-third-party-insurance-works/

koksybrown:
They say ignorance is a disease and i hate disease with passion. I ran into a Brandnew 2017 Ford Focus carefully parked on the road side. Now i and the owner are at Coscharis to fix it. The bill is something.
What does my Third Party Insurance Cover? Someone should pls help me and others out here.


cc: lalasticlala

in Insurance there are three partied, you, the insurance coy and the other driver who is referred to as the 3rd party, so if you hit someone else your Insurance repairs their car only, not yours.

Here is a complete list of insurance companies in Nigeria and their coverage.
Top among the list are AIICO, Leadway, AXA Mansard, Custodian and Allied, Cornerstone, etc

Complete List of Insurance Companies in Nigeria

SeyiOmoOba:

IF YOU GOT A GENUINE THIRD PARTY INSURANCE CERTIFICATE FROM A REPUTABLE INSURANCE COMPANY, IT COVERS BOTH YOUR VEHICLE AND THE 'OTHER VEHICLE'
AT LEAST I KNOW OF LEADWAY ASSURANCE.

you are xtreemly ignorant, PLS stop, if you do not know say so, 3rd party covers just the 3rd Party not your car!