7 Most Reputable Car Insurance Company in Nigeria

Introduction

We all want to buy a car someday but being aware of the challenges you might face in the cause of the operating the vehicle can present a sort of challenges. Are you a car owner or an aspiring car owner, there are important measures you must take to protect yourself from futuristic expenses caused by unforeseen circumstance. Insuring your car in a reputable car insurance company is first approach towards protecting your car and this of course will protect you from spending unnecessarily.

Nigeria is a country situated in Western Africa with over 200million population as of 2022. In the year 2018, the Nigerian Bureau of Statistics (NBS)  reported that there were 11.8 million registered vehicles – Of course, I wouldn’t say all these vehicle are insured. However, it is the work of Car insurance company to ensure total coverage of your car against future damage.

As we head into outlining 7 most reputable car insurance company in Nigeria, it is paramount to note that this is not an exhaustive list, hence, the most reputable and recognized car insurance company in Nigeria

7 most reputable Car Insurance company in Nigeria

1 AIICO Insurance Plc

2 AXA Mansard Insurance Plc

3 NEM Insurance Plc

4 Cornerstone Insurance PLC

5 Leadway Assurance Company Limited

6 Consolidated Hallmark Insurance Plc

7 Mutual Benefit Assurance Plc

AIICO Insurance Plc

One of the well-known car insurance company doing business in Nigeria is AIICO Insurance Plc (American International Insurance Company), situated at Plot PC 12, Churchgate Street, Victoria Island, Lagos. AIICO is  Established in 1963. AIICO Insurance provides both industries, companies,individuals and small and medium enterprises with a nice range of insurance services mostly car insurance at a good and considerable premium.

Automobile are completely covered by AIICO Insurance against a variety of dangers, including collisions, theft, fire, and third-party liabilities. AIICO is known for their fast claim settlement, no deduction and an exciting discount- depending on some factors best determined by the insurance company.

At their official website, customers can have seamless coverage on their auto insurance from Private Motor comprehensive plan and Private motor 3rd party plan which has different features ranging from theft, fire damage, own accidental damage, damage to third-party property, bodily damage to a third party, etc.

AXA Mansard Insurance Plc

In Nigeria, AXA Mansard Insurance Plc, also referred to as AXA Mansard, is a reputed car insurance company because of their achievement and impact so far. It is a division of the international insurance and asset management company AXA. Car insurance is just one of the many insurance services that AXA Mansard provides to both private citizens, industries and companies. AXA Mansard has operations, regional offices, and welcome centers in all of the nation’s major cities, making it accessible throughout Nigeria.

AXA Mansard is one of the car insurance company that offers a comprehensive auto insurance coverage to protect against risks including accidents, theft, fire, and all kind of third-party liabilities with a center focus on achieving great customer satisfaction.

With their new Autoclassic feature, one can secure a reasonable coverage with small amount of money and even spread out the cost of the auto insurance over a maximum of 10 months or more.

Unlike other insurer, AXA provides service worldwide which mean that you can always enjoy your service anywhere around the world.

NEM Insurance Plc

Leading insurance provider in Nigeria is NEM Insurance Plc, also referred to as NEM Insurance located at 199, Ikorodu Road, Obanikoro Lagos.

NEM Insurance Plc is a reputable car insurance company providing operation in Nigeria. NEM Insurance, which was established in 1948, provides both individuals and businesses with a variety of accessible insurance products, including motor insurance, fire insurance, marine, general accident insurance, etc.

Cornerstone Insurance Plc

In Nigeria, Cornerstone Insurance Plc is one of the respected and trusted car insurance company that offers a variety of insurance services and products, including auto insurance and they have really positive customer feedback for the past 5years.

Cornerstone Insurance offers a comprehensive array of insurance solutions encompassing general insurance, life insurance, health insurance, auto insurance, and property insurance. Cornerstone’s auto insurance plan provides comprehensive coverage against a diverse range of risks, such as third-party liability, fire, theft, and accidental damage.

The company presents an array of policy options tailored to accommodate varying customer preferences within budget constraints. Renowned for delivering exceptional customer satisfaction, Cornerstone Insurance holds a reputable standing as a trusted and recognized insurance entity in Nigeria.

Simplifying the insurance process, their downloadable app available on the Play Store facilitates seamless insurance purchase and renewal.

Leadway Assurance Company Limited

A well-known car insurance company in Nigeria, Leadway Assurance Company Limited headquartered in Lagos  provides a variety of insurance products and services.

Car insurance, life insurance, health insurance, travel insurance, property insurance, and general insurance are just a few of the insurance options one can purchase from Leadway Assurance.

Leadway provides comprehensive auto insurance protection, which covers protection against fire, theft, third-party liability and personal injury coverage.

Leadway has paid out about N92 billion in claims over the last five years, a basis of assets exceeding N270 billion. They continue to be Nigeria’s most reliable insurer with a good reputation for claims settlement.

Consolidated Hallmark Insurance Plc

Consolidated Hallmark Insurance Plc is one of the Nigeria car Insurance company that provides service ranging from auto insurance, life insurance, marine insurance, travel insurance and all risk insurance. They are located at 266 Ikorodu Road, Obanikoro,Lagos. They rose to become one of Nigeria’s General Business and Special Risk Insurance underwriters following a merger constituted in 2007.

Car insurance, vehicle insurance, life insurance, health insurance, travel insurance, property insurance, and general insurance are provided by Consolidated Hallmark Insurance. Comprehensive auto insurance protection against unintentional damage, theft, fire, third-party liability, personal accident coverage, and other hazards can be obtained by Consolidated Hallmark Insurance. They provide several policy options to meet a range of requirements and financial constraints of their customer and they provide great customer satisfaction to their users

Mutual Benefit Assurance Plc

This is definitely one of the prestigious car insurance company in Nigeria that you might consider insuring your car. This company was established in 1995 and since has remain resilient into offering standard customer service.

Mutual benefit Assurance Plc offer insurance such as Fire and special Perils, Motor Vehicle, Travel health Insurance, Child Education Plan, Mutual Individual saving and protection Plan, etc.

They recorded a claim of #19.38b in the year 2020 as a money that was paid to their customer. Certainly, this is the company you would like to insure that your brand new vehicle in other to protect you from future damage such as theft, fire or third-party liability.

They are located in Aret Adams House, at 233 Ikorodu Road, Ilupeju – Lagos where their customer service representative will fully attend to your concern.


Bottom Line

In the Nigerian insurance market, these companies are well-known and reputably recognized and provide trusted and reliable vehicle insurance products and services. However, to choose the insurance company that best attain your unique needs and financial budget, it is crucial to thoroughly investigate and compare the available options.





About Author
Ugodu C. Emmanuel
Content Creator and a Financial Analyst

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