Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,411 members, 7,954,629 topics. Date: Saturday, 21 September 2024 at 03:12 AM |
Nairaland Forum / Nairaland / General / Car Talk / Does Third Party Insurance Work In Nigeria? (8824 Views)
NAICOM Increases Third-party Vehicle Insurance From N5000 To N15,000 / NAICOM Increases Third Party Motor Insurance By 200% To ₦15,000 / 5 Benefits Of Third Party Motor Insurance You Need To Know (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
Does Third Party Insurance Work In Nigeria? by obembet(f): 3:42pm On Feb 16, 2022 |
Third-party insurance is essentially a form of liability insurance. The first party is responsible for their damages or losses, regardless of the cause of those damages. One of the most common types is third-party insurance is automobile Third-party offers coverage against claims of damages and losses incurred by a driver who is not the insured, the principal, and is therefore not covered under the insurance policy. The driver who caused damages is the third party. According to the insurance policy, you get coverages up to ₦1,000,000.00 on your third party insurance. But from my own little observations, I realized that most Nigerian only renew thier third party insurance because of police Road safety or VIO. Infact some of my colleagues in office call it police let me pass . Some Believe that insurance doesn't pay on Third-party. How true is this? Have you ever be deny Claim on your third party insurance? 1 Share
|
Re: Does Third Party Insurance Work In Nigeria? by Okunolaniyi: 5:46am On Feb 17, 2022 |
All na wash. Check my signature |
Re: Does Third Party Insurance Work In Nigeria? by thundafire: 5:46am On Feb 17, 2022 |
That's why Nigerians are not ready to make things change but rather bribe to go along with their lives. 4 Likes |
Re: Does Third Party Insurance Work In Nigeria? by Compliant(m): 5:47am On Feb 17, 2022 |
MENTION ONE THING THAT WORK IN NIGERIA, SURELY NOT THIRD PARTY INSURANCE 17 Likes 1 Share |
Re: Does Third Party Insurance Work In Nigeria? by vincentjk(m): 5:48am On Feb 17, 2022 |
Op you dey talk like say you node witness this buhari regime again 1 Like 1 Share |
Re: Does Third Party Insurance Work In Nigeria? by sinistermind(m): 5:49am On Feb 17, 2022 |
Insurance can actually pay of third party. Insurance in Nigeria over the years have greatly improved and not what it used to be. So who ever is calling third party insurance “Police let me pass” is very wrong. As long as you pay a premium, the insurance company must pay third party claims 36 Likes |
Re: Does Third Party Insurance Work In Nigeria? by Nobody: 5:54am On Feb 17, 2022 |
Ask yourself this very interesting question: How many folks had received insurance payouts from the First-Party Insurance, let's not even go to the distant Third-Party Insurance. Like you rightly said, most of us do these processes to avoid wahala from law enforcement. In the overall, making insurance claims in nigeria can generally be frustrating. 8 Likes 1 Share |
Re: Does Third Party Insurance Work In Nigeria? by superamoled: 5:56am On Feb 17, 2022 |
They no dey pay shishi |
Re: Does Third Party Insurance Work In Nigeria? by Wizpa(m): 5:57am On Feb 17, 2022 |
Okay |
Re: Does Third Party Insurance Work In Nigeria? by AdventHero: 5:57am On Feb 17, 2022 |
As long as you fulfill your part of the contract....and you understand the terms; YES. Meanwhile...here's a short devotional; Faith - the insurance that pays wella! But the question is, ARE YOU EXERCISING YOUR FAITH? ARE YOU GROWING IN FAITH? THE MEASURE OF FAITH [Youtube] 1 Like |
Re: Does Third Party Insurance Work In Nigeria? by MANNABBQGRILLS: 6:02am On Feb 17, 2022 |
sinistermind:God bless you. END OF THREAD. 7 Likes 3 Shares |
Re: Does Third Party Insurance Work In Nigeria? by Nobody: 6:02am On Feb 17, 2022 |
Yes very well.. it might take 2 years or more with never ending follow up, but yes it works. 4 Likes |
Re: Does Third Party Insurance Work In Nigeria? by MANNABBQGRILLS: 6:02am On Feb 17, 2022 |
AdventHero:God bless you too Hero! 3 Likes 3 Shares |
Re: Does Third Party Insurance Work In Nigeria? by biggy00000(m): 6:04am On Feb 17, 2022 |
Third party insurance Hmmmmm.. I and a colleague of mine were involved in an accident some 4 years ago; as a believing Nigerian, I called up his insurance company, got police report and sent it. When the back and forth became unbearable I gave up. I had comprehensive insurance on my car, called insurance company and it was fixed swiftly. If it's within your reach, deal comprehensive. Oluwa a wa pelu wa o 9 Likes |
Re: Does Third Party Insurance Work In Nigeria? by Trojan8(m): 6:05am On Feb 17, 2022 |
Astoria: This is why Insurance do not work in Nigeria because of mentality like this. You pay application fee of just #7,000 then ignore regularly monthly payments. Somehow when issues pop up, you expect insurance firms to cover for you. How does things work like that? 6 Likes |
Re: Does Third Party Insurance Work In Nigeria? by mfm04622: 6:06am On Feb 17, 2022 |
As long as the insurance policy is valid, 3rd party insurance will pay. Most drivers and policy owners just don't make claims. They prefer to go and repair their vehicles. Or run away when they damage other people's vehicles or properties. 3rd party policy cover damages caused by cars to other properties. Like fence, goods for sales, etc 6 Likes |
Re: Does Third Party Insurance Work In Nigeria? by JUHABACH: 6:08am On Feb 17, 2022 |
Astoria: There are several world class insurance companies operating in Nigeria who always pay claims promptly. Maybe you should consider using those instead coz in my experience, they pay claims very quickly. 1 Like |
Re: Does Third Party Insurance Work In Nigeria? by JUHABACH: 6:10am On Feb 17, 2022 |
mfm04622: God bless you for this post. Most people don't seem to understand how 3rd party cover works. If you want full protection, go for comprehensive. |
Re: Does Third Party Insurance Work In Nigeria? by adioolayi(m): 6:10am On Feb 17, 2022 |
They do pay... Get pictures, videos of events,police extract ...they will pay. Most of us don't like going through the "stress" ..and so, you don't make claims 1 Like |
Re: Does Third Party Insurance Work In Nigeria? by mfm04622: 6:10am On Feb 17, 2022 |
Astoria: Many! I have in the past. I am also processing another presently. Making insurance claims is NOT frustrating at all! It is very easy! As long as you and the mechanic are not trying to rip of the insurance company, you will find it easy! In fact, the present claim I am processing is higher than the policy payment I made this year! The only sticking point is they don't want to pay the full value of the tire I used. That is the normal brand if tire I use. That is the only dragging point |
Re: Does Third Party Insurance Work In Nigeria? by solsticey2k3(m): 6:10am On Feb 17, 2022 |
Most often it does not |
Re: Does Third Party Insurance Work In Nigeria? by gboyetade: 6:16am On Feb 17, 2022 |
How do one go about it? |
Re: Does Third Party Insurance Work In Nigeria? by Ayomitide77(m): 6:21am On Feb 17, 2022 |
Yes, it does |
Re: Does Third Party Insurance Work In Nigeria? by correctyourself(m): 6:21am On Feb 17, 2022 |
JUHABACH: Please which of them is that, so we know where to go 1 Like |
Re: Does Third Party Insurance Work In Nigeria? by duality(m): 6:23am On Feb 17, 2022 |
Esseite: In that case it's not working. Can we say a hospital is working if prompt attention to petient is not guaranteed? They put in bottlenecks to frustrate paying the claims. Maybe you have insider pushing things for you. |
Re: Does Third Party Insurance Work In Nigeria? by Maxymilliano(m): 6:23am On Feb 17, 2022 |
I doubt if it does work in this clime |
Re: Does Third Party Insurance Work In Nigeria? by sasview: 6:23am On Feb 17, 2022 |
Sometimes the resources you will expend to file a claim will cost more than taken up the repair yourself. Getting a police report is not free and your valuable time that will be wasted with the bureaucracy involved will deter you. 2 Likes |
Re: Does Third Party Insurance Work In Nigeria? by Ayomitide77(m): 6:23am On Feb 17, 2022 |
gboyetade:It's always stated in the policy document. |
Re: Does Third Party Insurance Work In Nigeria? by Ayomitide77(m): 6:24am On Feb 17, 2022 |
correctyourself:Try Custodian Insurance. I can testify to their promptness in handling claims. |
Re: Does Third Party Insurance Work In Nigeria? by duality(m): 6:25am On Feb 17, 2022 |
JUHABACH: May I know them. |
Re: Does Third Party Insurance Work In Nigeria? by blackboy2star(m): 6:26am On Feb 17, 2022 |
It works oga. The mentality is what's depriving you people. My brother used it 2019. Try it yourself Compliant: 1 Like |
Toyota Versus Mazda / What Are The Cons And Pros Of Having Car Engine Flushed / Is This Car Worth N1.55 Million? See Pictures.
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 31 |