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How Much Will It Cost To Insure A Vehicle? - Car Talk (2) - Nairaland

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Re: How Much Will It Cost To Insure A Vehicle? by purefella(m): 12:40pm On Jan 18, 2012
babaijesha:




That's super coy coy coy , I have gotten what i wanted now and i hope other readers would have learned
Thanks Nlers
Re: How Much Will It Cost To Insure A Vehicle? by OBALABI: 6:00pm On Jan 20, 2012
What you insure with (premium) depends on the value (sum insured) of your car and also depends on the category of insurance you want to do on your vehicle. i.e Comprehensive is 10% of the price or value (sum insured) and you could get some discount up to 50% here. 3rd party is now N2,500 or N5,000.00 standard per private vehicle (depending on which company you visit). Rates for commercial vehicles are different. Hope this satisfies your curiousity?
Re: How Much Will It Cost To Insure A Vehicle? by DisGuy: 7:53pm On Jan 20, 2012
Dis Guy:

and in the course of investigating a stolen car, or repairing a damaged car, is there a complimentary car given to the policy holder or he will just have to leg it for 3/6months?

no answer?
Re: How Much Will It Cost To Insure A Vehicle? by purefella(m): 10:09pm On Jan 20, 2012
Dis Guy:

no answer?

LOL i think its legedis for the 3/6months since no one is responding , i have another question what happens if you use your car to hit another car will the insurance company repair the person vehicle for you because it's a vehicle insured that hits another vehicle , second is God forbid you use the car knocking someone down , will the insurance company intervene replies needed thanks NLERS
Re: How Much Will It Cost To Insure A Vehicle? by Nobody: 10:24pm On Jan 20, 2012
purefella:

LOL i think its legedis for the 3/6months since no one is responding , i have another question what happens if you use your car to hit another car will the insurance company repair the person vehicle for you because it's a vehicle insured that hits another vehicle , second is God forbid you use the car knocking someone down , will the insurance company intervene replies needed thanks NLERS

If you have Third Party cover only, and you run into another car, your insurance will cover the repairs or replacement of the other vehicle - provided that vehicle is insured to the driver at the time of the accident. The damage to your own vehicle will NOT be covered.

If you have Fully Comprehensive cover, your insurance will cover both your own car, as well as the one you ran into. Of course like with Third Party cover only, the repairs of the other vehicle will be subject to the other vehicle being insured to the driver of that vehicle at the time of the accident.
Re: How Much Will It Cost To Insure A Vehicle? by DisGuy: 10:27pm On Jan 20, 2012
i was about to ask that question too, but seems they are only interested in getting customers and not necessarily enlightening the populace how insurance works in the Nigerian scene

Considering its taking 3-6months to settle claims, when you damage someone else's car who doesn't have insurance, will the insurance company re-imburse the policy holder who will most likely have to drop cash instantly, doubt any danfo driver will wait 6months for insurance company 'investigations'
Re: How Much Will It Cost To Insure A Vehicle? by Nobody: 10:43pm On Jan 20, 2012
Dis Guy:

Considering its taking 3-6months to settle claims, when you damage someone else's car who doesn't have insurance, will the insurance company re-imburse the policy holder who will most likely have to drop cash instantly, doubt any danfo driver will wait 6months for insurance company 'investigations'

If you damage someone else's car, you have insurance, they don't, then they lose out. I have damaged an uninsured vehicle in Nigeria, there was nothing he could do to me, he made a big fuss, the police arrived on the scene. But because I knew my rights, I didn't pay a penny towards the damaged car. Mine was covered by my own insurance.

You're not oblighed to pay for damages to an uninsured vehicle, even if you ran into it. An uninsured driver has no business business driving a vehicle on the public road.
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 4:06am On Jan 21, 2012
@Dis guy, sorry for my late response to ur question. A few companies used to provide temporary replacement vehicles for a period btw when a loss occur and when d claim is settled at an additional premium charged at the inception of d policy. But for two reasons, this arrangements was stopped.

1.  The company (in Lagos) that used to provide the service folded up. This coy had a fleet of vehicles by which insurance coys and others subscribed at a fee per vehicle.

2. Insurance coys became aware that clients tend to delay claim settlements by not providing claims supporting documents promptly because they were not feeling the impact of the loss. Even some clients would not respond when d replacement vehicles are better than theirs.

Let me say something here, apart from theft cases, most claims settlement cases are delayed by the clients by not providing necessary docs on time or by disagreeing with claim settlent offers.

House, i hope u r clear on this? Thanks.
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 4:44am On Jan 21, 2012
@purefella, a third party insurance will compensate any other person for injury, death or loss of/damage to his/her property. It is important to mention here, that amount payable by Insurance coy for third party property damage is limited to N1m. For instance, if u hit someone's car and the damage is N1.5m, insurance will only pay N1m and the bal of N500k will be borne by u.

But for injury sustained and death of a Third Party, there is no limit since human life is not quantifiable in terms of money.

Comprehensive insurance will take care of both ur vehicle and that of d third party.

For more info or clarifications, contact me on 08023198878 or 08173198878
Re: How Much Will It Cost To Insure A Vehicle? by purefella(m): 2:10pm On Jan 21, 2012
Benez:

@purefella, a third party insurance will compensate any other person for injury, death or loss of/damage to his/her property. It is important to mention here, that amount payable by Insurance coy for third party property damage is limited to N1m. For instance, if u hit someone's car and the damage is N1.5m, insurance will only pay N1m and the bal of N500k will be borne by u.

But for injury sustained and death of a Third Party, there is no limit since human life is not quantifiable in terms of money.

Comprehensive insurance will take care of both ur vehicle and that of d third party.

For more info or clarifications, contact me on 08023198878 or 08173198878

This is very educating and interesting as well , thanks for the reply that was useful
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 6:29am On Sep 03, 2012
You can call Benez on 08023198878 for your Insurance needs
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 5:00am On Sep 04, 2012
Call
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 9:48am On Sep 07, 2012
I work with Mutual Benefits Assurance Plc
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 9:51am On Sep 07, 2012
Call Benez for all classes of insurance on 08023198878
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 6:08am On Sep 17, 2012
Play safe, insure that asset
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 10:26am On Sep 24, 2012
Protect that car now, consider insurance
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 11:47am On Oct 08, 2012
.
Re: How Much Will It Cost To Insure A Vehicle? by Benez: 5:41am On Oct 27, 2012
For maximum insurance protection, call me on 08023198878
Re: How Much Will It Cost To Insure A Vehicle? by methyl: 4:43pm On Jul 14, 2015
if you want to insure your car contact me on 08188373898, I am mutiu Adepoju I work with Mutual benefit Assurance Plc

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