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Nairaland Forum / Nairaland / General / Car Talk / Nigerian Auto Insurers: Do They Ever Pay Up? (8580 Views)
Nigerian Auto Policy: Port Terminal Operators Will Suffer In 2015 (2) (3) (4)
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by blank(f): 8:59am On Jun 22, 2012 |
Insurance PHB made me go through hell. Hope they crash and burn. They paid me 10% of what they were meant to pay me and it was after 5 months of chasing them up and down after i had fixed my car. Cannot stand them. 1 Like |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by AntiPDP: 9:08am On Jun 22, 2012 |
Insurance companies do pay claims and you need to get a broker to explain all the fine print to you. However IGI does not pay claims and they are like a large ministry. The company is messed up when it comes to paying claims. The place is run like a family business. I have fought them to a standstill in the past In the event of an accident; Thank God for your life get the car to the garage and do not attempt to effect repairs without taking pictures Report in writing to the insurance company or the agent Take pictures including the plate number of the vehicle and ensure dent or breakage is clear. Fill the insurance claims form and submit to the insurance coy ensure you get an acknoledgement copy if they do not send the engineers to inspect the car in 3 to 4 days write them and tell them you will commence repairs in the light of their apathy After the inspection, let them negotiate directly with your garage They will give you a go ahead to commence repairs Hopefull you will get paid within one month Re: Nigerian Auto Insurers: Do They Ever In addition to this i think you also need to read the policy document given to you to familiarize yourself with the wordings of the policy. There is a serious need for a public enlightenment to educate the insuring public about the policies they buy and the terms and conditions. My e-mail is oluwalegeorge@yahoo.com.Send me a mail if you have any issues concerning insurance and let me give you professional guidance.. It is free of charge please. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by laidback(m): 9:15am On Jun 22, 2012 |
HOTWATER: I most confess. I have never beem surprised in my life like the day i got my check from Consolidated Hallmark . i had hit a car on third Mainland bridge and i just had third party insurance . i was amazing the the Insurance company behaved professionally and settled the Guy i hit his car . The amount the paid to the guy is about 2000% of the Premuim i paid . I am really grateful to that Company Bros na you I dey find since na, abeg come hit my car please anywhere you like bonnet, side. So what road do you normally go through? But on a serious note, I normally do not read the fine print on most things I sign, who has the time, an insurance policy would however be the exception. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by Nobody: 9:17am On Jun 22, 2012 |
Please does someone know anything about STACO INSURANCE?? ARE THEY PAYING? |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by naylove(m): 9:20am On Jun 22, 2012 |
i have been thoroughly enlightened. i no lie. if i knew half of what i know now,i would have acted differently when i bashed a G class from behind all through no fault of moi. i blow grammar tire that day., chei ignorance no good. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by angelhair(m): 9:40am On Jun 22, 2012 |
silvasurfa: Most of us are excusably skeptical of insurance companies especially when it comes to payments for justifiable claims. At the beginning of the relationship, the insurance company will usually project itself as a company that pays claims promptly for most classes of risk eg theft, damage (3rd party or comprehensive), fire etc as long the as the premium payments are regular and up-to-date. However, from anecdotal evidence, it appears that whenever claims are presented, the insurance companies employ all kinds of professional (and sometimes unprofessional) strategies to avoid paying - including recourse to the famed 'fine print' in the contract papers. We use an insurance broker and he manages everything for us and gets the money out. It takes a while @ times but it does and its so coool! |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by tosenbaba(m): 9:52am On Jun 22, 2012 |
As the law says,the least type of insurance a car owner should have is a 3rd party,but cos our people don't care where they get there 3rd party insurance from whenever they go get their plate number,its assumed na fake(police make i pass).the 3rd party covers you to a max limit of N1m,but take note your own car will not be covered but the 3rd party's car or property is covered to a limit of N1,000,000.00 but take note that u pay 10% of the value of the claim 1st.you can get your original 3rd party for as low as N5000.00 for saloon cars and more for other cars. On comprehensive both your car and 3rd party is covered 5% value of car.,then we have the 3rd party fire and theft 2.5% of the value of the car. Once you have a claim, dont't try to fix it without the knowledge or notifying your insurance company. Then lastly i recommend one gets a an insurance broker for all his/her insurance needs, then as the insured try to read your insurance policy cos when claim arises that will be the law binding you and the insurance company. 1 Like |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by kevin0021(m): 9:54am On Jun 22, 2012 |
@ silvasurfa: I am so much optimistic you have go through each and individual details But what i personally will want to say regards what you are seeking is mostly matter, And any insurance that make potential customers go through all these pains,is highly bad & need to be reported to th highest authority,its a dent to other reputable org. Please there is no point rushing into our each individual comment but kindly examine what will never relate to issues we debating. you can email me on kevinfreestyle20006@gmail.com Please take note: The bad fruit spread rusty poison to the good job of insurance. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by anonimi: 9:57am On Jun 22, 2012 |
oiseworld: try royal exchange, they've been around for long. They are also well established with branches across the federation. I believe they'll pay. Na so people take dey fail exams. See question, see answer. Are they asking about belief and faith in future occurence here or about real life PAST experience |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by MSItachi: 10:31am On Jun 22, 2012 |
HOTWATER: I most confess. I have never beem surprised in my life like the day i got my check from Consolidated Hallmark . i had hit a car on third Mainland bridge and i just had third party insurance . i was amazing the the Insurance company behaved professionally and settled the Guy i hit his car . The amount the paid to the guy is about 2000% of the Premuim i paid . I am really grateful to that Companyare you stewpi d |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by kunlaxo: 1:29pm On Jun 22, 2012 |
A broker is an intermediary who helps you access and manage your claims as they come> They take their time to study the clauses and warranties in your motor policy document which most people hardly study.You have to understand your policy document which shows your terms and condition. Most Insurance companies terms and conditions often includes some dangerous and favourable warranties and clauses which are usually mostly favourable to the company alone..you should understand that you need a broker that could interpret the clauses and warranties, it is a free market where you can bargain on rate and many discounts as your broker stand a chance to getting the best coy and the best standard rate at any time on any policy. Lack of premium payment as at the time of claim is the mainly reason some often reject some genuine claims,while some accept base on mutual relationship of the broker. Therefore to get the best service a broker is needed and will not charge any money from you aside his 12.5% commission from the insurance coy. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by izahbnu(m): 4:50pm On Jun 22, 2012 |
Open your eyes wide and look out for UnityKapital Assurance Plc. our claims settlement is second to none in nigeria that is why she's been tagged "tested & trusted". With branches spread across the country she Operates with state of the art softwares that make service delivery efficient and effective. You'll be glad you did + your questions been answered so you need not look any further. for more info you can inbox me: iidris@unitykapital.com |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by mbulela: 5:13pm On Jun 22, 2012 |
Dis Guy:yes. i know a guy who has been fighting with insurance over broken side mirror. insurance just dey slam the guy grammar up and down. he ended up seeking a lawyer friend even if for free counsel. 1 Like |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by Adeolawills: 5:33pm On Jun 22, 2012 |
Insurance now has integrity. @ least 1 of d strengths of Mutual Benefits Assurance Plc is d prompt payment of legit claims. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by iraseotoikhila(m): 10:42pm On Jun 22, 2012 |
Pls try Anchor Insurance @ Lekki Phase 1, been working with them for some time now & they are trying in terms of Claims Settlement. Just call or visit their office & you will get all that you desire! |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by linearity: 11:19pm On Jun 22, 2012 |
manny4life: Both cars actually average about $80K new, without going into more details...they are both Japanese cars...Premium is paid every 6 month...just paid premium for the remainder half of this year this week and it was about $692.00...note that this premium covers two drivers and two vehicles...and it is a comprehensive coverage. there are lots of things you can do to lower ur coverage..e.g. if you are a good driver and do not put forth claims that much..go with a higher deductible e.g. $1k...if you are employed and have a company health insurance coverage...elect for your company insurance to be primary to cover all medical claims that involves insured driver and the insurance company will be the secondary....ask to see what discount the companies have...u might be surprise the kind of discount that is obtainable..eg I get discount just for having a paypal account..another discount for paying the 6 month premium in full and various discounts....some little security features, some even standard that comes with the vehicle attracts discounts..but you have to mention it to the insurance company by the time you add these up. Believe me, 5% even for standard car is very high...again...it might be because of the risk environment obtainable in Nigeria....but this risk factor should not be blank...it should vary from area to area..individual to individual...ie it should be customizable to each individual situation & environ. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by linearity: 11:24pm On Jun 22, 2012 |
tosenbaba: As the law says,the least type of insurance a car owner should have is a 3rd party,but cos our people don't care where they get there 3rd party insurance from whenever they go get their plate number,its assumed na fake(police make i pass).the 3rd party covers you to a max limit of N1m,but take note your own car will not be covered but the 3rd party's car or property is covered to a limit of N1,000,000.00 but take note that u pay 10% of the value of the claim 1st.you can get your original 3rd party for as low as N5000.00 for saloon cars and more for other cars. What do u mean by '3rd party fire & theft'? Is that a coverage in case you steal or burnt down a 3rd party's car.... or is this additional coverage for ur car in case of fire or theft? If the later is the case, what is the comprehensive covering? methink comprehensive should cover fire and theft as well. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by Teejazz1(m): 11:16am On Jun 23, 2012 |
If u want to be assured and insured go for ROYAL EXCHANGE PLC |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by Nobody: 3:21pm On Nov 08, 2012 |
Try AIICO Insurance, very efficient and they pay promptly too. |
Re: Nigerian Auto Insurers: Do They Ever Pay Up? by Oluwashegzy(m): 2:21pm On Jul 10, 2013 |
The aforementioned insurances are still far behind LEADWAY INSURANCE when talking of claim paid at due time. Try LEADWAY today and you will never regret it. |
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