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BUSINESS

Car Insurance Companies

Car insurance companies
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Car Insurance companies cover ensures that while you go on the roads, you have fewer worries about yourself, your vehicle and everything else that could go wrong.

It is very important to get your car insured against damage, loss, accident, or any other hazard that could occur to the vehicle. Getting your car insured saves you thousands of money during an accident or theft, and this is what many people do to avoid spending too much on their car.

After you have decided to insure your car, you need to find out a reliable car insurance company that can cover you if you have an accident and that will not overcharge you for the services selected.

To discover the right auto insurance, start by figuring out how much coverage you need. Requirements vary from state to state, so take a minute to find out what coverage is required where you live.

Below is a list of four car insurance companies that can help you if you decide to insure your car from theft, accident, or any unnecessary damage.

The Best Four Car Insurance Companies in Nigeria

You can take advantage of the best four car insurance companies below to help you choose which one best suits you.

1. AIICO Insurance

AIICO Insurance, a company that was founded in 1963, is a car insurance company that offers life insurance, health insurance, and general insurance services including auto insurance. They also have subsidiaries in investment management and pension management operational services as a means to generate wealth for individuals and corporate customers.

AIIO
AIICO

AIICO Insurance Plc. is one of the largest Car Insurance companies in Nigeria and the first sponsor for General Insurance businesses. They also play a major part in the Oil and Gas industry. The insurance company is rated as one of the top three General Insurance businesses in Nigeria. 

Annuity, Moneywise Plan, Corporate Savings Plan, Flexible Endowment Plan, Group Life Insurance, Mortgage Protection Plan, and Term Assurance, are a variety of products under life and general insurance services that AIICO Insurance offers.

AIICO Insurance also offers the following products under general insurance services, including Auto Insurance, Aviation Insurance, Agriculture Insurance, Fire and Special Perils, Home Insurance, Travel Insurance, Public Liability, and more

Processing AIICO Insurance Claims

You have to ensure that you understand the policy conditions of your contract before reporting a claim to AIICO Insurance. Once a request takes place, the company acts quickly to start processing the claim settlement.

They provide a guide to a claimant to relieve the claim processing experience of the customer. There are several channels in which you can begin your claims processing as a customer. They are below:

  • You can march into any branch of AIICO with the required substantiating documents to report your claim. A customer service representative will attend to you accordingly and guide you on what to do next.
  • AIICO also set up a digital claims center to guarantee a prompt and friendly claim settlement experience. A claim can be reported on the company’s website through the digital claims center. All you have to do is complete the form and upload the required documents. A settlement offer is being made to the claimant through a discharge voucher form once a claim has been notified and discreetly investigated. 

A check is issued without delay upon receipt of the discharge voucher from the claimant.

AIICO Insurance Customer Service and Operational Branches

You can reach out to their office through customer walk-in, telephone (available for 24hours a day and 7days a week), electronic mail, or by dropping a message on the contact form on their website. 

AIICO Insurance functions in 18 branch locations across various states of Nigeria. You can find the business location closest to you.

This is the official website of AIICO: https://www.aiicoplc.com/

2. Leadway Assurance

If you talk about the most reliable insurance providers operating in Nigeria, Leadway should be among the number. The company provides a very transparent and easy way to make a claim, and very little acknowledgement and payment time.

LEADWAY INSURANCE
leadway

A Little About Leadway Assurance

Leadway was launched in 1970 with reputable years of successful operation in managing insurance for individuals even till this day.

Leadway has a concrete record in claim settlement and a good financial reputation that anyone can trust.

Leadway Assurance Services

Leadway offers a range of services on insurance which can be classified into three categories namely, Personal Insurance, Business Insurance, and Auto Insurance.

These three categories are subdivided into other categories that will be discussed later in this article.

Is It Easy Processing a Claim at Leadway Assurance?

Leadway has made it easy and stress-free to process insurance claims for customers. To make a claim, all you need to do is visit their official website and fill in the required information.

You will be required to provide an email address, a policy number, supporting documents, and other comments you would like to upload along.

Leadway prides on acknowledging and completing payment in as little as 24 hours.

Leadway Insurance Packages

The first Leadway’s package is the Personal Insurance which comprises of general insurance, life and health, savings and investments, and annuities and pensions.

The second package is the Business Insurance which was designed for businesses and their associates. This insurance package includes staff and other proprietors and protects you from all losses that may occur during the day-to-day business schedules.

Services offered in business insurance package include motor insurance, property insurance, marine insurance, accident policies, and SME insurance.

Auto Insurance is the third insurance package of Leadway that covers all damages that occur to automobiles, including third-party claims and repair or damages to own vehicles. Auto Insurance consists of comprehensive and third-party claims.

Leadway Assurance Cost and How to Purchase One

The price for leadway assurance products and services depends on the exact package that you want to buy. The plans and claim coverage vary per plan and price. You can visit Leadway’s website on https://www.leadway.com/ to choose a package of your choice.

3.      AXA Mansard Car Insurance

AXA Mansard Insurance plc is a global leader in insurance and asset management. it is one of the biggest Car Insurance companies in Nigeria. They have about 166,000 employees serving 107 million clients in 64 countries.

mansard

AXA Mansard Insurance Plc is registered as an amalgamated company with the National Insurance Commission of Nigeria (NAICOM), after it was incorporated in 1989 as a private limited liability company.

Life and non-life insurance products and services are offered by AXA Mansard to individuals and institutions across Nigeria. Asset and investment management services, and medical insurance solutions and pension fund administration are also offered by AXA through its three subsidiaries AXA Mansard Health Limited, AXA Mansard Investments Limited, and AXA Mansard Pensions Limited.

The Company thereby remains the biggest insurance company on the Nigerian Stock Exchange after it was listed on the Nigeria Stock Exchange in November 2009 and has Market Capitalization in excess of N28 billion.

 With over 20 years of continuous presence in Africa, AXA Mansard Insurance plc is a worldwide venture with operations concentrated in Europe, North America and the Asia Pacific, with extensions all through to Central and South America, Middle East, and Africa via operations in Algeria, Egypt, Cameroon, Gabon, Ivory Coast, Morocco, and Senegal.

AXA Mansard Offers

AXA Mansard offers are made up of the following:

Motor Insurance

If you are looking for a third-party, comprehensive or customizable car insurance cover, AXA Mansard’s Motor Insurance is the answer. You will get a free car tracker and your motor claims (accidents only) can be settled in just 48 hours?

Other bonuses include a 5% premium refund after 3 years cumulative premium. The company’s flexible motor insurance plans offer all of these and much more.

Life Insurance

AXA Mansard’s Life insurance policies help you make plans to secure the future of your loved ones. This will assist you in saving for your children’s education, making personal savings for yourself, and investing long term to reduce expenses in the event of demise or personal disability.

Savings and Investments

Savings and Investments were designed in accordance with AXA Mansard’s perception of your needs to help you save and invest for the future.

Commercial Products

This plan, as one of the most important investments that business owners can make, was purposely designed to provide financial security for businesses.

Choosing the commercial insurance package is the best decision you can make if you aspire to protect your business from potential loss caused by unfortunate circumstances.

Annuity 

Annuity is an agreement between an individual and a life insurance company, to undertake a sum of money and provide a lifetime income for the individual at retirement.

Types of Annuity

AXA Mansard Pensioners’ Annuity is the first type of annuity, with the addition of Annuity + Whole Life, Guaranteed Annuity, and Annuity + Spouses Annuity.

You can visit AXA Mansard website on https://www.axamansard.com.

4. Industrial and General Car Insurance (IGI)

IGI is a Car Insurance companies that has different categories of insurance packages including the following:

IGI Motor Insurance

Motor insurance is designed to protect the insured for loss of or damage of vehicle and damage to Third Party property, including bodily injury and death to Third Parties caused by accident.

IGI provides motor insurance covers which include Third Party Only, Third Party Fire & Theft, and Comprehensive.

Life Products

Two kinds of life insurance products that IGI offers include Group Life and individual Life.

The Group Life consists of:

  • Group Life Assurance
  • Life Gratuity Scheme
  • Staff Retirement.

The Individual Life comprises:

Health Insurance

IGI has healthcare insurance that consists of:

  • IHMS Retail Health Plan
  • IHMS Corporate Health Plan
  • IHMS Group & Association Health Plan
  • IHMS Tertiary Institution Social Health Insurance Plan
  • IHMS Community Based Social Health Insurance Plan
  • IHMS Mega Health Plan
  • IHMS Third Party Administration Plan (TPA)
  • IHMS Worksite Clinic Programme
  • IHMS International Health Plan

Other packages that IGI offers include:

  • Travel Insurance
  • Fire Insurance
  • Aviation
  • Oil & Energy
  • Marine Cargo

You can visit IGI on their website here – https://www.iginigeria.com/

Conclusion

The list goes on and on but with the four reviewed above you can get a very good and reliable car insurance company to insure your vehicle.

When you get full coverage over your vehicle, you will no longer panic over expenses for damage and accident occurrence. All you need to do is just make your claims and the car insurance company will take care of the situation immediately.

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