Car insurance policy provides cover for the expenses for the damages caused to your car due to crash, accidents or theft as stated in the insurance cover. Car insurance cost depends on number of factors that will be taking into consideration and the company involved. What is available here is general estimated prices for there are good number of variables that determine
price. A car of about 9 years old worth #3.5M(three million five hundred thousand naira) will be used as a benchmark to give the range. However, to be sure of the amount payable for your car, a quote is required by any of the companies involved.
Car Insurance Quotes Meaning
A quote simply means an estimate of premium for the insurance coverage you selected and information you provided to the insurance company. Don't mistake quote to be an insurance contract.
Insurance Companies In Nigeria
Some notable insurance companies in Nigeria are listed below
a. Industrial and General Car Insurance
b. Law Union & Rock car insurance
c. AXA Mansard car insurance
d. FBN General Insurance
e. IGI Nigeria
f. Zenith Insurance PLC
g. Cornerstone insurance
h. LeadWay Assurance
i. AIICO Insurance PLC
j. Mutual Benefits
k. Old Mutual
l. Niger
m. Custodian and Allied Car insurance
Car Insurance Cost In Nigeria
A blanket range on cost of car insurance will be given as different companies have their different rates and different plans. But generally speaking with the age of the car and value involved, it takes between sixty thousand naira and one hundred and sixty thousand naira. (#60,000 - #160,000) per annum.
