Motor (Automobile)

COMPREHENSIVE MOTOR INSURANCE

Motor insurance (also known as car insurance, vehicle or auto insurance) is insurance for cars, trucks, motorcycles, and other road vehicles. Apart from the minimum of Third Party Insurance cover being a mandatory insurance policy for all car owners, Motor insurance is very important to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Motor insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, and damage sustained by colliding with stationary objects.

PERILS/RISK COVERED

• Unlimited liability for death or bodily injury to third parties

• Damage to the property of third parties up to a limit of N1m for anyone accident

• Indemnity to policy holder for loss or damage to vehicle as a result of accidental collision or overturning of the vehicle, fire and theft up to the limit of the sum insured

• Medical expenses for injury to the occupants of the vehicle.

• Cost of towing the vehicle following an accident

• Repair of the accidented vehicle.

THIRD PARTY INSURANCE ONLY

• This Policy Covers the Insured against:-

• Legal liability to third party in respect of death or bodily injury for an unlimited amount

• Third party property damage up to N1,000,000.

• Legal cost incurred by the insured with the consent of the insurer

PERILS/RISK NOT COVERED

The company shall not be liable for:

• Any accident loss, damage and or liability caused outside the geographical area of Nigeria

• Any claim arising out of any contractual liability.

• Any accident loss or damage or liability caused , sustained or incurred:

• Where the vehicle is not used for the purpose for which it is being insured.

• Where the vehicle is being driven by someone not permitted to drive.

• Loss/damage from flood, typhoon, hurricane, volcanic, exemption, earthquake etc

• Strike, riot and civil commotion risk

• War risk

• Any theft occasioned by the staff or the insured or any member of the insured’s family or any person permanently residing with the insured.

• Consequential loss

• Wear and tear

• Mechanical or electrical break down

• Failures and breakages

• Damage to tyres unless the Motor car is damaged at the sometime

What we can also offer …. 

• At a cost or Extra Premium

• Riot, Strike & Civil Commotion

• Flood, Typhoon, Hurricane, Volcanic Eruption

• Increased TPPDL – 0.2% of value in excess of policy limit of N1,000,000

• This should represent the current replacement value otherwise the condition of average will adversely affect the insured in the event of a claim

BASIS FOR SUM INSURED

    This should represent the current replacement value otherwise the condition of average will adversely affect the insured in the event of a claim