Your vehicles are a very important part of your day life especially if you move around a lot or work in a far place.
Securing your car is very important and it is not limited to using anti-theft devices and good maintenance, insuring your car should also be a priority. There are many things that can go wrong in your day to days activities, from minor scratch to a reckless driver running into you.
The cost of fixing or buying a new a car is high, getting an insurance from one of the top companies listed in this post can save you a lot of money.
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Types Of Auto Insurance in Nigeria
Below are the types of Car insurance:
In the majority of states, auto liability insurance is required. The bare minimum liability coverage required by state law must be purchased by drivers. Liability insurance consists of two parts:
- Bodily injury liability helps pay for costs related to someone else injuries if you cause an accident.
- Property damage liability it pay for damage you cause to another person’s property while driving.
Uninsured and underinsured motorist coverage
Uninsured motorist coverage could assist in covering your medical expenses or, in some areas, repairs to your car if you are struck by a driver who does not have insurance. If a driver hits you while underinsured, it indicates that even if they have auto insurance, their liability limits are insufficient to pay for your subsequent medical expenses. Depending on the rules in your state, underinsured motorist coverage may be useful in this situation.
Some states mandate uninsured and underinsured motorist coverage, while others make it optional.
Comprehensive insurance may assist in covering damage to your vehicle caused by events like theft, fire, hail, or vandalism. Comprehensive coverage may assist in paying for the replacement or repair of your car (up to the vehicle’s real cash worth) if it is harmed by a covered risk. There is a deductible associated with this coverage, which you must meet before your insurer will pay for a covered claim.
Although comprehensive insurance is normally an optional choice, if you’re financing or leasing your car, your lender can insist on it.
Collision coverage could assist in covering the cost of fixing or replacing your automobile if you collide with another car or hit something like a fence. (up to its actual cash value and minus your deductible).
Usually, collision insurance is not required. It may be required, though, by your vehicle’s leaseholder or lender.
Medical payments coverage
Medical payments insurance may assist in covering the costs of any injuries sustained by you, your passengers, or any family members operating the insured vehicle. Surgical procedures, hospital stays, X-rays, and other expenses might be covered.
Some states mandate medical payments insurance, while others make it an option.
Personal injury protection
PIP, or personal injury protection, is only offered in a few states. PIP, like medical payments coverage, may assist in covering your post-accident medical costs. PIP may also assist in paying for additional costs acquired as a result of your injuries, such as childcare costs or lost wages.
In states where it is provided, personal injury protection is either mandated or optional.
List of the top 10 car insurance companies in Nigeria
Below are the list of car insurance companies in Nigeria to insure your car:
- Old mutual Nigeria
- Zenith Insurance PLC
- Leadway Assurance PLC
- Cornerstone Insurance
- Consolidated Hallmark Insurance
- FBN General Insurance
- AIICO Insurance PLC
- Industrial and General Car Insurance
- AXA Mansard Car Insurance
- Custodian and Allied Car Insurance
1. Old Mutual Nigeria
Old Mutual is one of the oldest insurance firms in Nigeria, and, like their name suggests, one of the best at what they do. Fundamentally, they provide various coverages for both auto insurance and other products.
2. Zenith Insurance Plc
One of the top auto insurance providers in Nigeria is Zenith Insurance, which is owned by the financial behemoth Zenith PLC.
Furthermore, their insurance can be customized to meet your individual needs and financial constraints. Also, it covers a large range of vehicles, including the majority of cars, trucks, and motorbikes.
3. Leadway Assurance Plc
Leadway assurance plc, unquestionably one of the most well-known insurance providers in Nigeria, provides a variety of services in addition to auto insurance.
They have a track record of successfully settling cases over the years, making them trustworthy and dependable.
4. Cornerstone Insurance
Cornerstone is one of Nigeria’s well-known insurance providers, offering anything from travel insurance to school fee and home insurance.
In essence, they provide a broad range of coverage, including third party coverage and several levels of auto insurance.
5. Consolidated hallmark insurance
Consolidate Hallmark Insurance is undoubtedly skilled at what they do since they are driven by professionalism, relationships, ethics, customer-oriented operations, and more.
Car insurance is one of their top services, and it was created to meet both your current and future demands.
6. FBN general insurance
The FBN general insurance division of the First Bank of Nigeria also offers insurance services. This company provides excellent services for a variety of insurance products, including auto insurance. Also, they are trustworthy and provide their clients with quality services.
7. AIICO Insurance PLC
One of the top insurance providers in Nigeria for a variety of insurance services is without a doubt AIICO Insurance Plc.
Its auto insurance is of high caliber, undoubtedly above average, and it also offers a third-party coverage option.
8. Industrial and General Car Insurance
One of the most coveted services offered by commercial and general auto insurance is car insurance. Fundamentally, the organization gives dependable road assistance and a quick, cutting-edge tracking system to further suit your needs because that is the cornerstone upon which they have built their business.
On any matter relating to auto insurance, you can depend on them any day or time.
9. AXA Mansard Car insurance
AXA Mansard is undoubtedly one of the top 10 vehicle insurance companies in Nigeria thanks to their impressive list of accolades and the excellent reputation that comes with it.
Also, they have a plan for everyone, regardless of your financial situation, which is fantastic. This is because their well crafted vehicle insurance policies, which are offered to customers for selection, are available.
10. Custodian and Allied Car Insurance
This an efficient, resourceful and ethical organization that you’d surely find interesting. However, beyond all hype, they certainly provide some of the best car insurance services in Nigeria.
Also, another strong point is their good customer service that ensures you get what is exactly right for you with ease.