Comprehensive Motor Insurance
It provides cover for loss or damage resulting from the ownership and use of all forms of automobile vehicles licensed to operate on Nigerian public roads or highways, as well as the associated third-party bodily injury and property damage liabilities. The types of Covers available include:
This is the minimum compulsory motor insurance cover obtainable by law. It insures against potential legal liabilities to third parties (road users, passersby and other public members) for bodily injuries, death and damage to property resulting from the ownership and use of licensed motor vehicles on Nigerian roads. Also, it covers legal costs incurred in relation to the legal liabilities with the insurer’s consent.
Benefits:
- Cover for third-party injuries or death – Unlimited
- Cover for Third Party Property Damage – N1,000,000 (minimum cover)
- Legal Costs – reasonably incurred with the insurer’s consent
This ensures similar risk as highlighted under Third Party Insurance Cover, including loss of or damage to the policy owner’s vehicle and/or accessories on the vehicle as a result of fire, external explosion, self-ignition or lightning, burglary, housebreaking or theft.
Benefits:
- Cover for third-party injuries or death – Unlimited
- Cover for Third Party Property Damage – N1,000,000 (minimum cover)
- Legal Costs – reasonably incurred with the insurer’s consent
- Compensation for loss of or damage to policy owner’s vehicle (by fire & theft only).
This secures you against accidental loss or damage to your vehicle incurred while driven by you or anyone authorised to drive your vehicle. This also relieves you from providing financial or other compensation to third parties harmed through the use of your vehicle, costs of property damage, and expenses incurred from repairing damage to your vehicle.
Benefits:
- Cover for third-party injuries or death – Unlimited
- Cover for Third Party Property Damage – N1,000,000(minimum cover)
- Legal Costs – reasonably incurred with the insurer’s consent
- Compensation for loss of or damage to policy owner’s
- Compensation for towing charges (inter/intra state)
- Optional Extensions at an additional cost (Riot, Strike & Civil Commotion, Flood Damage, Excess Buyback, etc.)
- Concessionary rating consideration for a large motor fleet
