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**VEHICLE INSURANCE IN NAIJA. Does It Really Work?

Hello house!

Is there any solid insurance coverage for these clean and sweet rides on our streets? What happens in the event of theft or accident? Have you personally benefited from having an insurance cover for your car?  Or have you per adventure come across person wey sabi person wey sabi another person wey insurance company don pay before? If so, how long did it take?

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Insure your assets and life because u never can tell

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Insurance really works in Nigeria. I have spent more than 15 years in dis industry and I cannot count d number of claims cheques I have signed. Yes I agree with u dat it is not all claims that r settled. They might not have been settled or fully settled because of d following:

1. If d amount claimed is less than d Excess

2. If d claim is not genuine e.g d plate number on our record is diff from what is in d licesing o. Office or if on our records, it is Sienna u insure but at d time of making claim, it is a nissan claim dat u brought.

3. Improper documentation or inadequate evidential documents on d part of d claimant

4. Under insurance

5. If d asset insured is used for d purpose outside d one indicated in d policy

6. If a vehicle is been driven by a minor at d point of claim.

7. Insincerity - Misrepresentation; Fraudulent or Innocent

8. Non payment of Premium

So, outside d above, I don,t see why ur claim should not be settled.

For d man dat got abt 75% of his claim, I guess he did not buy Excess and unfortunately, d universal total loss Excess rate is 10% of claim.

Kindly contact Ayodeji on 08023198878 for all ur insurance needs and clarifications.

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I have called ur line abt thrice but u did not pick it. I have sent you a text. For cars,it it is 5% but for Trucks like urs, it is 6%. Thank you sir

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Yes they just changed d name but d old name will make it easier to recognize d coy For now

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Does GT aasur still exist, tot the name was changed recently?

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Go with GTAssur for the best rate, best in the country

call 08033394988, 08099451540

Insurance works because there are comapnies like mine that have chosen to do things right

call me

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Hmmmmmmmm! Getting 75% of purchase price after about a month thats not bad. Bearing in mind the car depreciates in Value as soon as you drive it out of the shop. And then getting the cash in three months ( Naija factor in mind), your guy must have be lucky. Why not recommend that insurance firm to guys in the house.

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@deji - we spoke and my credit ran out. Called u back bt no answer. u can reach me on 08038640975. That rate is still high. My policy is due end of august. If u can do 5%, fully comp, am happy 2 switch. I av four policies bt all expires at different times.

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I thought they said the insurance in Nigeria has been overhauled and now function well?

Please note that the insurance coy dont pay the purchased price for a ride, but the book value as determined by the writter.

Sometimes, you might get more money based on the effizzy that you have added to your ride.

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I have a friend who managed to write off a brand new Jetta after only 29 days of ownership in 2008. His insurance company paid him 75% of the purchase price. It took about 3 months for them to pay up.

I cant remember any of our cars being repaired by an insurance company when I was younger. Even when my dad's 1 year old Pug 505 was stolen in '87, it was never replaced even though we always had insurance with NICON. I am not sure if the policies were comprehensive though, maybe just 3rd party.

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