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Third Party Insurance. What Does It Cover? - Car Talk (2) - Nairaland

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Re: Third Party Insurance. What Does It Cover? by sniperwolf(m): 7:56am On Feb 15, 2017
It covers for all damage done to a 3rd party. I was involved in an accident on the 1st of August, 2016 at Sagbama Junction Bayelsa.

My car developed a mechanical problem and I lost control of it and it ran into a mechanical workshop destroying 3 vehicles and the mechanic's tools.

The vehicle owners were at my neck while I was in the hospital, when I recovered I reluctantly went through my car documents and decided to call the number found on the Insurance Certificate (KBL Insurance, subsidiary of Keystone Bank).

I was surprised with the feedback, I was asked by the insurance representative to breakdown the cost of repair for each vehicle. I did so it was amounting to about N520,000. Another representative was sent from perhaps their head office to assess the claim and they offered about N400,000. I was really surprised because I wasn't expecting anything from it.

My car was badly damaged and I sold it off there at the accident scene. They were worried because it wasn't a comprehensive cover because they would have replaced my car.

Guys insurance is working if it's genuine.

3 Likes

Re: Third Party Insurance. What Does It Cover? by rasazee(m): 7:57am On Feb 15, 2017
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.
As the name implies 3rd party, it does not cover ur own vehicle. u are d 1st party,insurance company is d 2nd party while d other car or anything u damage is d 3rd party.

1 Like

Re: Third Party Insurance. What Does It Cover? by asumo12: 8:02am On Feb 15, 2017
shollywhite17:
it covers third party to a cover of 500k. i av got claims on it from aiico for several clients. call me on 08055924750 if you need more detail.
cheers.


Your number is incorrect ma
Re: Third Party Insurance. What Does It Cover? by nochio(m): 8:04am On Feb 15, 2017
Mine at mansard covers up to 1 million naira, and in the event of death, 6 million i guess, go to your insurance company website, read their conditions and then inform them of the situation, something would be done i assure you.
Re: Third Party Insurance. What Does It Cover? by ifeanyi83(m): 8:08am On Feb 15, 2017
Depending on the insurance company, Third party insurance covers repairs up to N1m. The owner of the policy however bears his own cost. It's amazing alot of people do not know this...
Re: Third Party Insurance. What Does It Cover? by MabraO: 8:49am On Feb 15, 2017
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. cry 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

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
Re: Third Party Insurance. What Does It Cover? by shinel(f): 8:55am On Feb 15, 2017
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

Insurance companies feed fat from Nigerians like you that are not informed, and don't go for claims in eventualities. Your 5k yearly covers your 3rd party up to 500—1m depending on the insurance company you took, and very easy process against your thought.

Pictures of the accident site and a police report, see contact information on your insurance certificate.

Just go to sleep and be thinking of how to repair your own car, while your insurance takes care of the car you damaged.

It's not up to 40days to process, from the one I experienced if you can prove the scenario and have witness from scene.

Note: If your insurance certificate is not genuine, you would have been arrested long ago on the road by VIO.
One they've checked you before and let you go, your cert is genuine.
Re: Third Party Insurance. What Does It Cover? by Adebowale89(m): 8:58am On Feb 15, 2017
in a general review, I think third party insurance covers the loss of a third party in a road accident. for example if Mr A insured in third party insurance and he eventually jam Mr B. the insurance company will take the cost of the damage car of the Mr B in the place of Mr A who insured his monthly dues (premium) in the insurance


the third party in this illustrations is Mr B that his car was smashed by the insured(Mr A)
Re: Third Party Insurance. What Does It Cover? by ALAYORMII: 9:04am On Feb 15, 2017
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. cry 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



Ur third party insurance only covers any damage done to the other person's car and not urz


In this case that you hit another person's car, you take some pictures and go to the nearest police station to get a police report and then contact ur insurance company and notify them that you just hit someone's car and the cost of repairing the other person's car will be borne by the insurance company.



Note:
If ur insurance is genuine not the fake that most people do.


Someone that has a 2017 car is most likely to have a comprehensive insurance
Re: Third Party Insurance. What Does It Cover? by delezac(m): 9:06am On Feb 15, 2017
It covers the 3rd party injury, damage and up to the sum of N1,000,000. If the repairs is more than N1m, you bear the rest. Call your insurance broker.
Re: Third Party Insurance. What Does It Cover? by ALAYORMII: 9:11am On Feb 15, 2017
sniperwolf:
It covers for all damage done to a 3rd party. I was involved in an accident on the 1st of August, 2016 at Sagbama Junction Bayelsa.

My car developed a mechanical problem and I lost control of it and it ran into a mechanical workshop destroying 3 vehicles and the mechanic's tools.

The vehicle owners were at my neck while I was in the hospital, when I recovered I reluctantly went through my car documents and decided to call the number found on the Insurance Certificate (KBL Insurance, subsidiary of Keystone Bank).

I was surprised with the feedback, I was asked by the insurance representative to breakdown the cost of repair for each vehicle. I did so it was amounting to about N520,000. Another representative was sent from perhaps their head office to assess the claim and they offered about N400,000. I was really surprised because I wasn't expecting anything from it.

My car was badly damaged and I sold it off there at the accident scene. They were worried because it wasn't a comprehensive cover because they would have replaced my car.

Guys insurance is working if it's genuine.


That's why it's always advisable to have comprehensive insurance but most people go for only third party insurance because it's mandated by law
Re: Third Party Insurance. What Does It Cover? by Enduranceportal: 9:12am On Feb 15, 2017
Based on your reporthjhj

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. cry 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
Re: Third Party Insurance. What Does It Cover? by Enduranceportal: 9:16am On Feb 15, 2017
Based on your report, Third party Insurance covers liability on the third party vehicle (Ford Focus) to the tune of 1 Million Naira which is the limit. Any other amount incurred above One million would be covered by the insured.

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. cry 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
Re: Third Party Insurance. What Does It Cover? by LordVoldemort(m): 9:17am On Feb 15, 2017
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. cry 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

Your 3rd party insurance covers damage to third party property to the tune of 1M and damage to life to the tune of 60million.

You can check if your third party insurance is valid by going to askniid.org

1 Like

Re: Third Party Insurance. What Does It Cover? by LordVoldemort(m): 9:23am On Feb 15, 2017
dhardline:


If your third part is valid take pictures of the damage, get a police report and go with your insurance certificate to the insurance company. If they refuse to respond to your claim then report to NAICOM asap.

Normally a 2017 Ford should have a comprehensive insurance. How can someone not have a insurance on that expensive car in lagos. Anyway incase he as insurance just give him ur 3rd party insurance certificate and sign an undertaking that you are the one responsible for the accident.

His insurance company will pay for his repair and collect it back from your insurance company.
Re: Third Party Insurance. What Does It Cover? by joinnow: 9:44am On Feb 15, 2017
fkj950ax:


You obviously don't know mow insurance works.
How much should premium be if you think 5k is meagre?

It gives you up to N500k limit of repairs.

Nigerians prefer to fight at car crashes instead of accessing the insurance



If its comprehensive then you can pursue your claim
Re: Third Party Insurance. What Does It Cover? by joinnow: 9:49am On Feb 15, 2017
shinel:


Insurance companies feed fat from Nigerians like you that are not informed, and don't go for claims in eventualities. Your 5k yearly covers your 3rd party up to 500—1m depending on the insurance company you took, and very easy process against your thought.

Pictures of the accident site and a police report, see contact information on your insurance certificate.

Just go to sleep and be thinking of how to repair your own car, while your insurance takes care of the car you damaged.

It's not up to 40days to process, from the one I experienced if you can prove the scenario and have witness from scene.

Note: If your insurance certificate is not genuine, you would have been arrested long ago on the road by VIO.
One they've checked you before and let you go, your cert is genuine.



It is not easy (time and call)
40 days to process and the Person u hit go wait for u.
Re: Third Party Insurance. What Does It Cover? by keko14: 9:53am On Feb 15, 2017
just let my people go.
Re: Third Party Insurance. What Does It Cover? by fkj950ax(m): 10:10am On Feb 15, 2017
joinnow:


Bros it does does not work in Nigeria.
The money you use in getting police report
Going up and down insurance company and your time wasted will not worth chasing ur claim when it was only 5k u pay.

If its comprehensive then you can pursue your claim

It does. I have replaced a 2007 Honda EOD bumper and left rear light of a car i hit from behind with 3rd party insurance.
Re: Third Party Insurance. What Does It Cover? by Ayo25: 10:14am On Feb 15, 2017
For genuine and affordable insurance policies and vehicle papers including drivers license call Ayo on 08183844095 or come to VIS Office, Wharf Zone. Apapa. Thank you.
Re: Third Party Insurance. What Does It Cover? by joinnow: 10:18am On Feb 15, 2017
fkj950ax:


It does. I have replaced a 2007 Honda EOD bumper and left rear light of a car i hit from behind with 3rd party insurance.


How long is the process from when u hit the car and when the bumper was replace by insuranxe company
Re: Third Party Insurance. What Does It Cover? by temitopeking(m): 10:43am On Feb 15, 2017
Liability insurance purchased by an insured (the first party) from an insurer (the second party) for protection against the claims of another (the third) party. The first party is responsible for its own damages or losses whether caused by itself or the third party.

it (third party insurance) covers only the damage been cause by your vehicle to another person's property like car, bus, gate, fence,okada keke marwa etc while its (the car) is been driven by the insurer.







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.
Re: Third Party Insurance. What Does It Cover? by GreatManBee: 10:56am On Feb 15, 2017
dhardline:


If your third part is valid take pictures of the damage, get a police report and go with your insurance certificate to the insurance company. If they refuse to respond to your claim then report to NAICOM asap.
Re: Third Party Insurance. What Does It Cover? by naijacarz(m): 11:39am On Feb 15, 2017
https://web.facebook.com/Insurancepolice/
Re: Third Party Insurance. What Does It Cover? by Nobody: 11:40am On Feb 15, 2017
For your Insurance policy. Both third party and comprehensive insurance. Contact me via my mail sophiadominic9@gmail.com.
Thanks
Re: Third Party Insurance. What Does It Cover? by blogAlive(m): 1:13pm On Feb 15, 2017
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. cry 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
Thank you for asking, that's a good question. The third party certificate that you have, only covers the other party's vehicle and not yours,even if you were hit or you hit someone.
For more enquiries,kindly check my signature or call me up
Re: Third Party Insurance. What Does It Cover? by blogAlive(m): 1:16pm On Feb 15, 2017
temitopeking:
Liability insurance purchased by an insured (the first party) from an insurer (the second party) for protection against the claims of another (the third) party. The first party is responsible for its own damages or losses whether caused by itself or the third party.

it (third party insurance) covers only the damage been cause by your vehicle to another person's property like car, bus, gate, fence,okada keke marwa etc while its (the car) is been driven by the insurer.







Third party only covers the other party's vehicle in the event of accident.
Re: Third Party Insurance. What Does It Cover? by leighcon(m): 1:32pm On Feb 15, 2017
Lies, people benefit from genuine 3rd Party Cover insurance. Ignorance is too bad for us. The original is N5k maximum, yet people still go do a fake for N3k


HAH:
One of the biggest fraud in the Nigeria insurance sector is the third party insurance, they collect billions for free and do nothing in reurn, this most probably made people not to pursue it but op can open our eyes to see if they pay, in my about 20 years of driving I have not heard of anyone paid by third party insurance, it only use for me is for police, FRSC and ViO, comprehensive insurance I have seen many benefit from but not third party
Re: Third Party Insurance. What Does It Cover? by leighcon(m): 1:34pm On Feb 15, 2017
You do not admit anything, you let your insurance company take care of agreements. Your cover may be void if you sign such agreements.

LordVoldemort:


Normally a 2017 Ford should have a comprehensive insurance. How can someone not have a insurance on that expensive car in lagos. Anyway incase he as insurance just give him ur 3rd party insurance certificate and sign an undertaking that you are the one responsible for the accident.

His insurance company will pay for his repair and collect it back from your insurance company.
Re: Third Party Insurance. What Does It Cover? by leighcon(m): 1:37pm On Feb 15, 2017
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.


sniperwolf:
It covers for all damage done to a 3rd party. I was involved in an accident on the 1st of August, 2016 at Sagbama Junction Bayelsa.

My car developed a mechanical problem and I lost control of it and it ran into a mechanical workshop destroying 3 vehicles and the mechanic's tools.

The vehicle owners were at my neck while I was in the hospital, when I recovered I reluctantly went through my car documents and decided to call the number found on the Insurance Certificate (KBL Insurance, subsidiary of Keystone Bank).

I was surprised with the feedback, I was asked by the insurance representative to breakdown the cost of repair for each vehicle. I did so it was amounting to about N520,000. Another representative was sent from perhaps their head office to assess the claim and they offered about N400,000. I was really surprised because I wasn't expecting anything from it.

My car was badly damaged and I sold it off there at the accident scene. They were worried because it wasn't a comprehensive cover because they would have replaced my car.

Guys insurance is working if it's genuine.

1 Like

Re: Third Party Insurance. What Does It Cover? by leighcon(m): 1:44pm On Feb 15, 2017
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.

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

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