This is the most commonly known class of insurance for vehicle owners in respect of accidental loss or damage to the insured’s vehicle, his legal liability to compensate third parties for bodily injury or death and loss or damage to third party properties.
This insurance is designed for Motor cars (private or commercial use), buses, trailers, trucks, motorcycles, tricycles and other vehicles (including Agricultural vehicles and those regarded as special types).
Third Party Motor Insurance
This is the minimum type of insurance legislated upon
Third Party Fire and Theft Insurance
In addition to the covers provided under the Third Party Only cover above, the Third Party Fire and Theft insurance
- Damaged either during attempted theft or while it is stolen
- Stolen but not recovered
However, note that the policy does not cover accidental damage to the insured vehicle and subject to standard motor vehicle insurance exclusions.
Comprehensive Motor Insurance
In addition to the cover provided under the Third Party Insurance
To enable us advise the premium payable, we will require the following information:
make, type and use thetype of cover required valueof the vehicle to be insured
Scope of Cover
- Own damage
- Impact damage
- Third party death, bodily injury and property damage
- Strike, Riot and Civil Commotion cover
- Flood, Typhoon, Hurricane, Earthquake, Volcanic Eruption and other convulsion of Nature cover
- Third Party Property Damage cover of =N=2 Million
- Free Personal effects cover up to a maximum limit of =N=100,000.00
- Personal Accident Cover for maximum of 5 persons including the driver
This will pay compensation for bodily injury as hereinafter defined sustained by any
|COVER||SCALE OF COMPENSATION =N=|
|2||Total and irrevocable loss of sight in both eyes||100,000.00|
|3||Total loss by physical severance at or above the Wrist or ankle of both
|4||Total loss by physical severance at or above the Wrist or ankle of one hand or one foot together with the total irrevocable loss of sight in one eye||100,000.00
The limit of liability in any one occurrence or series of occurrences arising from any one event shall not be more than =N=500,000.00.
Enhanced Third Party Motor Insurance
The product is intended to enrich the scope of benefits
The policy is subject to the standard motor policy terms and conditions.
See table below;
The above table shows the various premiums and liability limit respectively. Please note that only vehicles with a year of make from 2008 and above is eligible to obtain the 3rd Party Prestige Cover
- The policy excludes liability as a result of fire, theft of vehicle and loss of accessories.
- Standard motor policy exclusions