Private Motor Insurance
Motor insurance protects you and your vehicle against accidents, theft, vandalism, fire and third party liability. With private motor insurance, you can save on the cost of repairs caused by some occurrence, reducing the risk of financial loss and stress in case of an incident.
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Why should I buy motor insurance?
- Comprehensive Protection: Shield yourself and your vehicle from the financial aftermath of accidents, covering repairs, replacements, legal costs, death benefits, and other associated expenses.
- Theft and Damage Security: Safeguard your vehicle from theft and damage caused by other drivers, ensuring you're not left to bear the entire cost of repairs or replacement.
- Medical Care Coverage: Enjoy access to limited medical care in case of injuries resulting from an accident. While not all policies cover this, it provides an additional protection.
- Risk Mitigation: Owning a vehicle without motor insurance poses a significant risk. In the unfortunate event of theft or irreparable damage, you may be held responsible for the entire cost, including parts and labor.
- Third-Party Liability: Stay on the right side of the law with coverage for damage caused during accidents involving other vehicles or pedestrians. Third-party insurance addresses property damage and bodily injury or death to the third party while using your vehicle.
- Passenger Protection: Ensure coverage for injuries sustained by passengers during an accident. While not all policies include passenger liability, it's essential to check the coverage limits specified in each policy.
By choosing motor insurance, you demonstrate your commitment to being a law-abiding citizen, adhering to mandatory rules. Don't leave your vehicle and financial well-being at risk – invest in comprehensive motor insurance today.
Why should I buy motor insurance?
Securing the Best Motor Insurance Deal
How do I get the best motor insurance deal?
- Assess Your Risk Profile: Understand your driving history and the value you place on your vehicle. If you have a history of accidents, consider prioritizing comprehensive coverage over third-party motor insurance. Comprehensive coverage provides protection against unforeseen accidents, offering a more holistic approach to safeguarding your vehicle.
- Compare Rates:Take the time to compare insurance rates from different companies. Some providers offer discounts or special deals for specific insurance packages. Additionally, inquire about no-claim discounts, which reward policyholders for a clean claims history over a specified period.
- Premium Determination: Recognize that third-party insurance typically features a flat premium, consistent across various insurance companies. In contrast, comprehensive insurance premiums are influenced by the insured vehicle's value, reflecting the sum insured. Understanding how premiums are calculated helps you make informed decisions about coverage.
Types of Motor Insurance in Nigeria
Types of Motor Insurance in Nigeria
There are different types of motor insurance policies available in Nigeria today. To know what kind of policy you should choose, you must look at the following points
Third-Party Motor Insurance
The fundamental and most common motor insurance, covering death, injury, and property damage in accidents. It does not, however, include coverage for damage to the insured vehicle.
Comprehensive Motor Insurance
Offers all-encompassing coverage, addressing both third-party liabilities and damage to the insured vehicle. It safeguards against collisions, fire, theft, and even accidental damages like scratches or dents. Insurance companies may provide optional extension covers such as Medical Expenses, Personal Accident, Towing Expenses, Tracking Device, Courtesy Car, Windscreen Damage, and Loss of Use, each requiring an additional premium.
Things to consider when selecting a policy
Things to consider when selecting a policy
Choosing the right level of cover can be a bit overwhelming but theres no need to worry because we’ve got you covered. Here are some useful tips to have in mind when viewing the various policies we have to offer.
- What is covered: It is always advisable to lookout for both inclusions and exclusions of the available policies so as to have a clearer idea of the costs and benefits. This would help narrow down your options and help you make the best decision for your car.
- Compare the various policies online: Look at the various policies online, compare and choose the one that best meets your financial expectations. You can easily get quotes using our insurance calculator or reach out to us for further enquiries.
- Add - on covers: Look out for additional add on features
