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Cost of Third-Party Car Insurance in Nigeria and what you need to Know

In Nigeria, the third-party insurance cover is relatively cheaper to comprehensive insurance policies. Depending on the type of vehicle, annual insurance premium costs between N5,000 to N10,000.

Upon complete purchase of your comprehensive car insurance policy, you will get a certificate of insurance. This confirms your eligibility to report a claim in the event of any unforeseen circumstance on the vehicle.

Why Do You Need Third-Party Insurance?

The insurance coverage might only be beneficial to a third party. However, it saves the insurer the cost of repair or replacement of third party damages. The following are reasons you need a third-party insurance

Third-Party Car insurance offers protection against liability arising from damages to a third party

It protects you from suffering punishment by law

It is cheaper in comparison to a comprehensive car insurance policy

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