List of Cheapest Car Insurance Companies In Nigeria 2022
Car insurance is an agreement by which an approved/ licensed organization undertakes to provide a guarantee of compensation for car loss or damage in return for payment of insurance levy.
Why Should i get Car Insurance ?
No one prays or wishes for an accident of any sort, but the fact is that accidents happen, and you have to brace yourself for it in advance. One of the ways to prepare yourself in the incident of any car damage is to get a Car Insurance.
We know in Nigerian car insurance companies vary in their services and prices; some are very expensive while some are affordable. That is why we have decided to share List of Cheapest Car Insurance Companies In Nigeria 2022.
List of Cheapest Car Insurance Companies In Nigeria 2022
1. Alliance Insurance Company
Alliance Insurance company offers three plans which are; Standard, Classic and Premium Plans. Using our model car, comprehensive car insurance comes at the rate of 150, 000 NGN. Third-party insurance comes at a rate of 5, 000 NGN. Comprehensive insurance on a commercial vehicle comes at the rate of 225, 000 NGN.
With Alliance insurance, ladies and male above 45 get a discount of 15% on the premium. Also, you can get 15% of your premium as cashback after 24months without a claim. They also offer other benefits such as free towing.
2. Leadway Assurance
Leadway Assurance car insurance company is a comprehensive car insurance that covers loss or damage incurred on your insured car, either due to an accident, mechanical damage, or otherwise.
On a private car, using our Lexus RX model, comprehensive car insurance comes at the rate of 200, 000 NGN. Third party insurance comes at a rate of 5, 000 NGN for private car insurance while commercial vehicle insurance comes at 7, 500 NGN.
Comprehensive insurance on a commercial vehicle comes at the rate of 300, 000 NGN
3. Zenith Insurance
Zenith comprehensive car insurance comes at the rate of 175, 000 NGN. Third-party insurance comes at a rate of 5, 000 NGN for private car insurance while commercial vehicle insurance comes at 7, 500 NGN
Comprehensive insurance on a commercial vehicle comes at the rate of 200, 000 NGN.
4. Industrial and general car insurance (IGI)
industrial and general car insurance is a special company that insures third party only .
Which covers only covers you for an unlimited amount of loss due to legal liability, injury, damage to your car, an accident, and so on.
Third party fire and theft: This covers a third party whose property is either stolen or has been damaged by fire. There is a policy set with such a replacement risk.
This means the comprehensive policy provides you with cover for accidental damage to the vehicle that is insured.
5. AIICO Insurance American International
AIICO Insurance is a cheap car insurance company
Using our model car, comprehensive car insurance comes at the rate of 162, 500 NGN. Third party insurance comes at a rate of 5, 000 NGN for private car insurance while commercial vehicle insurance comes at 7, 500 NGN.
Comprehensive insurance on a commercial vehicle comes at the rate of 187, 500 NGN.
CONCLUSION
Car insurance is a necessity and for our safety. it’s an investment we would be glad we made. To save ourselves from undue financial burden, get that car insured
