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Best 2022 Car (Auto) Insurance Companies in Nigeria

Auto insurance is also known as car insurance. And, it is a contract between a car owner and an insurance company that protects the car owners against financial loss in cases that involves theft or accident. The insurance company will be in charge of paying for your losses when the need arises.

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Also, note that this service rendered by the Insurance company is not totally free as you are required to regularly pay a small amount of money. You can see more about what Auto insurance company is all about here.

Today in this article, we are going to be listing some of the best auto insurance companies that you can register within Nigeria. Let’s look at some of the reasons you need to get your car insured and some of the different types of auto insurance below.

Why You Need An Auto Insurance In Nigeria

There are so many reasons why you need auto insurance as a resident of Nigeria, but we are going to mention just the most relevant of them.

  1. The Law makes it compulsory (Road Traffic Act,1950).
  2. It will help you provide a replacement cost of theft or damage to your car.
  3. Reimbursement of litigation costs is another reason.
  4. The insurance company also helps provide financial support for you whenever you damage other people’s property.

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Who and Who Needs Car Insurance?

Generally, automobile users are the ones who need auto insurance and they include:

  • Owners of Private Vehicle(s).
  • Owners Buse(s).
  • Owners of Taxi(s).
  • Multiple Family Owners.
  • Vehicles for Delivery.
  • Commercial fleets.

Types Of Auto Insurance

Third-Party Auto Insurance: This is is the type of auto (car, tricycle, etc.) insurance that covers accidental bodily injury, death, and damages done to the property of a third party. Below is a rundown of the six-car insurance coverage:

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Best Car (Auto) Insurance in Nigeria

If you have a car and reside in Nigeria, which is the giant of Africa, then there is a need for you to get auto insurance for that vehicle of yours. Please after going through the list and if there is any good company that you think should be included in our list, then you can use the comment section to send us your opinion. You can find some of the best auto insurance companies below.

1). AIICO Auto-Insurance

The first on our list is called AIICO Auto Insurance. Apart from cars, this company covers all types of automobiles including tricycles and motorcycles; whether it’s for commercial or private use.

Auto insurance happens to be the most common of all classes of insurance in Nigeria and is one of the compulsory insurance that anybody using the highway needs to get. We are glad to inform you that AIICO Insurance happens to be among the best insurance companies in Nigeria.

They offer cost-effective, comprehensive, motor vehicle insurance that will definitely cover all the risks associated with driving and owning a car. Their policies have been carefully crafted to suit your needs. Their insurance package covers both theft, accidental damage, fire, collision, or vandalism of vehicles provided it is arising out of the use of insured vehicles.

2). Custodian Auto Insurance

Custodian Motor Insurance AKA Custodian PLC happens to be another great Motor insurance in Nigeria that made it to our list. One of the reasons Custodian Motor Insurance happens to be among the best is because of its policies that offer you the peace of mind you need while using the Nigerian highway.

With Custodian Motor Insurance Policy, you are covered against accidents, theft of your including medical expenses, vehicle, and fire. Their policies cover your truck, car, and motorcycle based on the extent (Or motor insurance type you choose). It also covers your trailer and more.

3). Leadway Auto Plan.

Last but not least on our list is called Leadway’s Auto Plan (LAP). They have different levels of insurance that they offer and each of them has its own benefits for any level of coverage you purchase on your vehicle(s). They cover accidental damage to the vehicle or loss of the vehicle, and other third-party personal injury or death ranging from the use of the insured vehicles.

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Samuel Jackson

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