Policy Comparison Between Popular Insurance Companies In Nigeria

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There are quite a number of insurance companies offering same types of policies while some are slightly different from the other. This comparison was polled across five (5) different insurance companies. The different car insurance policies offered by these companies include; comprehensive, third party theft and fire, third party only and goods in transit.

The companies used for this comparison were randomly chosen and they are as follows:

  • AIICO (American International Insurance)
  • Industrial & General Insurance (IGI)
  • Consolidated Hallmark Insurance
  • Zenith Insurance
  • Mutual Benefits Assurance

 

 The policy information according to the individual companies listed above have been provided in a tabular format below (please note that this information is in no way conclusive.  Policy information change from time to time likewise track record of excellence. Please get a FREE quote first by using the blue form to your right if you need the FREE services of the Insurance companies and licensed brokers working with us):

S/NoCompany NameComprehensive Car insurance: Features, Benefits and Additional InformationThird Party Only: Features, Benefits and Additional Information
1AIICO (American International Insurance)Covers accidental damage to your vehicle. Covers against fire, theft and any form of accident that may occur during the period of agreement. Liability of damage to third parties property up to a limit of N1,000,000.00. This car insurance policy covers the insured personal accident and medical expenses. Classic and Royal policy offers effective car tracker for vehicles valued at N3million and above including cost of towing. In royal policy cover, you get a courtesy car in cases of theft and damage.Covers liability for death, accidental bodily injury and damage to the property of a third party. Covers liability for damage to third party property up to a limit of N1,000,000.
2Industrial & General Insurance (IGI)Covers loss or damage to the insured vehicle in addition to the cover available under third party risk. This car insurance policy provides discount allowable for fleet rating from 30% Plurality discount is allowable where more than one car is insured under one policy. Private cars attract a discount of 10% and commercial vehicle is granted a discount of 5%.It covers bodily injury including death to third parties caused by accidents occurring on public roads. Covers third party property damage limited to N1,000,000 Bodily injury and death are unlimited.
3Consolidated Hallmark InsuranceCovers bodily injury to third parties. Covers damage to the vehicle as a result of accident. Covers theft and fire damage to vehicle. All claims are treated urgently. With this car insurance policy your claims are unlimited.Covers bodily injury to third parties. Covers damage to the third party's vehicle as a result of accident. All claims are treated urgently.
4Zenith InsuranceProvides indemnity for accidental damage to vehicles. Covers theft. Provides financial compensation for third party bodily injury or property damage. GOODS IN TRANSIT: Designed to ensure that companies’ goods and employees engaged in the movement of goods from one location to another are safe. Provides cover during loading and off loading of goods. This Goods in transit policy will indemnify the insured against loss of or damage to property/goods insured caused by: fire, theft and accidental damage.
5Mutual Benefits InsuranceCovers any damage arising from accident. Covers overturning of vehicle either alone or multiple accidents. Comprehensive insurance plan has free tracking for vehicle with sum insured in excess of N2.5million Covers against fire, theft and any form of accident that may occur during the period of agreement. Covers the insured personal accident and medical expenses. All claims are treated urgently.Liability of damage to third parties property up to a limit of N1,000,000.

 

 Some of these companies do not cover all the known car insurance policies. There are a host of other insurance companies offering the same set of policies that are not mentioned here. You have to match up policies by getting and comparing insurance quotes before you choose your desired insurance company to get the best of your premium.

One comment

  1. Just want to know the relevance of the above comparison based 2_6months ago. I think mansard insurance should have been part of this research. I would not mind knowing why they are not.

    Comment by Okolonkwo chukwuemeka. S on February 2, 2015 at 8:30 pm

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