In Nigeria, the concept of insurance is still relatively a hard sell, despite its many advantages. For many, the idea is completely foreign. This lack of awareness and interest in car insurance is because it is not stressed enough in Nigeria, in contrast to developed nations where it is illegal to drive without insurance.
Auto insurance, or car insurance is an arrangement between you and the insurance provider that guards against monetary loss in the case of an accident or theft. In exchange for you paying a premium, the insurance provider guarantees to reimburse your damages per the conditions of your policy.
In addition to protecting against theft or damage to your vehicle, auto insurance also covers medical expenses, including those related to treating injuries and recovering from them, as well as burial expenses and legal obligations to others in the event of bodily harm or property damage.
Auto insurance will guard you against significant loss if you ever damage your vehicle. If you don’t have insurance for your vehicle, then it’s time to get one. There are several auto insurance companies in Nigeria, and I’ll discuss the top 8 in this article and how to get a quote from them.
1. Cornerstone Insurance
Cornerstone Insurance PLC is a subsidiary of Access Bank Plc and is among the most respectable insurance providers in Nigeria. Cornerstone Insurance Plc was founded on July 26, 1991, as a private limited liability company. In 1997, the company changed its status to public limited liability and began trading on the Nigerian Stock Exchange.
The National Insurance Commission (NAICOM) has granted the company a license and recertified it to conduct both general and life insurance business. The insurance business classes they now do include the following: Vehicles, Aircraft, Watercraft, Engineering All Risks, Protection of Assets, Third-Party Liability, Oil and Gas, Term Assurance, Credit Life, Group Life, Mortgage Protection, and Takaful (Islamic Insurance).
It provides affordable vehicle insurance packages to meet the demands of a wide range of clients. On its website, you may see the characteristics of many policy kinds and buy the one that best fits your needs.
The organization also provides discounts on certain goods if you purchase many insurances at once or make annual payments as opposed to monthly ones. It offers a free quotation service on its website and on social media platforms like Facebook and Twitter.
How to get a quote from Cornerstone
- Visit the official website at cornerstone.com.ng
- On the top right-hand corner of the page, there is a menu bar designated by three black lines. Tap or click on it.
- Under Products select Motor Insurance
- You will be redirected to a page where you have to fill out a form containing your vehicle information
- Select Continue
- Follow the prompts to purchase your quote
2. AXA Mansard
AXA Mansard is one of the leading auto insurance companies in Nigeria. AXA Mansard offers a range of auto insurance options, including Comprehensive, Third Party Liability, and Fire & Theft. The company provides some of the most reasonable insurance prices in Nigeria.
The best thing about AXA Mansard’s vehicle insurance is that you may pay for it in a number of ways, including lump sum payments after your policy term and monthly instalments. Additionally, you may use a debit or credit card to pay for your coverage online.
Another advantage of using AXA Mansard’s vehicle insurance plans is that, unlike other insurers, they provide global coverage, so you may use them anywhere in the globe without worrying about geographic restrictions.
How to get a quote from AXA
- Visit the official website at axamansard.com
- On the top right-hand corner of the page, there is a menu bar designated by three black lines. Tap or click on it.
- Select insurance then motor insurance
- Select between autogo and autoclassic. Autogo is a third-party insurance policy that covers others’ cars on the road while auto classic is an insurance policy for your car
- Select “Get a quote”
- Fill out your vehicle information
- Select “Get Instant Quote”
3. Leadway Assurance PLC
Leadway Assurance Company, established in 1970, is the top composite insurance underwriter in Nigeria. They have established a strong reputation throughout the years based on their integrity, prompt claims settlement, and innovative service.
Although expensive, Leadway is among the best auto insurance companies in Nigeria. So if you don’t mind paying a little bit more for a hassle-free experience, this would be the best choice.
Their auto insurance products include:
- Comprehensive
- Third party (Auto Base)
- Third party
- premium finance
How to get a quote from Leadway
- Visit the official website at leadway.com
- Select “Get a quote” at the top of the page
- Select Auto Insurance from the list of products
- Choose the auto insurance product that you want
- After going through the product information, select “Buy Now” if you’re satisfied with it
- Fill in the required information and follow the prompts to complete your purchase
4. AIICO Insurance PLC
AIICO Insurance Plc is a financial services organization that was established in 1963. It has market-leading positions in its three primary business areas, which are asset management, health maintenance, and insurance.
The auto insurance policy they offer is divided into third-party, comprehensive, and collision insurance. The insurance covers third-party liability, property damage, and medical costs. It also includes coverage for theft, fire damage, and personal injury to you or your passengers in the case of an accident.
You may insure your car for as cheap as N400 a month if you have a spotless driving record. Even if you have a history of accidents or driving violations, you may still receive affordable rates by selecting one of their higher coverage levels.
They charge around 5–10% less than other companies for their liability-only policies and the same for their complete insurance.
How to get a quote from AIICO
- Visit the official website at aiicoplc.com
- Under Individual Plans, select Auto Insurance Plan
- Select “Buy Plan”
- Fill out the required information and follow the prompts to complete your purchase
5. Zenith Insurance PLC
Zenith Insurance is among the top auto insurance options in Nigeria. If you want great value for your money, then choose Zenith Insurance.
They are a great place to get estimates if you’re not sure whether you can afford a full plan or not, since they will give you an estimate without requiring any other information from you, including contact details.
The auto insurance products they offer include:
- Third-party Motor
- Personal Accident
How to get a quote from Zenith
- Visit the official website at zenithinsurance.com.ng
- Navigate to Auto Insurance and choose “Get Auto Insurance”
- Choose the auto insurance product you want and click “Buy Now”
- Fill out the required information and follow the prompts to complete your purchase
6. Consolidated Hallmark Insurance
Another trustworthy insurance provider in Nigeria is Consolidated Hallmark Insurance. They provide some of Nigeria’s top auto insurance.
In 2007, Consolidated Hallmark Insurance emerged as one of the top 10 General Business and Special Risk Insurance underwriters in Nigeria. This achievement was the result of a merger that took place in 2007. During the last twelve years, the firm has been at the forefront of the underwriting of significant transactions in the aviation, oil and gas, marine cargo and hull business, and motor insurance industries.
Their comprehensive coverage covers theft, fire, and car damage, in addition to any damages you could do to another person’s property or vehicle. The Third Party Insurance will pay up to N1,000,000 toward your liability for any property damage your automobile causes for only $15,000.
Without a doubt, they are proficient in what they do. Car insurance is one of their best offerings, and they can take care of all your insurance requirements, both now and in the future.
How to get a quote from Consolidated Hallmark
- Visit their official website at ch-insure.com
- Under products, choose between the three auto insurance products they offer which are Motor Comprehensive, Motor 3rd Party, and Fire and Theft
- Select “Buy Now”
- Fill out the required information and follow the prompts to complete your purchase
For Fire and Theft, you may be required to contact one of their representatives by phone and follow the instructions given to complete the purchase
7. Custodian and Allied Car Insurance
Custodian Investment Plc. is a significant Nigerian Investment Group with activities in the Other Financial Services Sector of the economy. The firm has major ownership in businesses and brands like Custodian and Allied Insurance Limited, Custodian Life Assurance Limited, Custodian Trustees, Crusader Sterling Pensions Limited and UPDC Plc.
Depending on the amount and kind of motor insurance you choose, the policy may cover your automobile, truck, trailer, or motorbike.
The auto insurance products they offer include:
- Comprehensive Cover
- Third Party Fire & Theft Cover
- Third Party Only Cover
How to get a quote from Custodian and Allied
- Visit the official website at custodianplc.com.ng/custodian-and-allied-insurance-limited
- Under General Products, choose Auto Insurance
- Fill out your car information and follow the prompts to complete your purchase
8. NEM Insurance
Since its founding in 2017, the company has provided insurance services to clients throughout Nigeria. The organization operates with offices in Lagos, Abuja, and Port Harcourt. It has developed into one of Nigeria’s top suppliers of auto insurance.
NEM Insurance places a high priority on customer service while offering comprehensive insurance solutions to individuals and businesses of all sizes. Their product portfolio includes commercial vehicle insurance, home insurance, car insurance, and travel medical insurance, among other kinds of coverage.
NEM offers car insurance which is intended to shield the policyholder from property damage or loss, including injury or death to other people and third-party property. Their products include:
- Third party, fire and theft policy
- Third party motor insurance policy
- Comprehensive motor insurance policy
How to get a quote from NEM
- Visit their official website at nem-insurance.com
- Click on the menu bar in the top right-hand corner, which is designated by three lines
- Under Personal Insurance, choose Auto Insurance
- Read through the information page for full details about their motor insurance coverage
There isn’t a link that will redirect you to the quote’s page on the website so you will have to call or email them for more information. Their contact information is found at the bottom of the page.
