One of the countries showing good signs of economic growth and an increase in the number of people in the middle class is Nigeria. It remains to be seen how this country’s financial system will continue to grow, but one key indicator of its health is the demand for cars and other vehicles. This, in turn, increases the demand for related products, such as insurance, which means that more Nigerians are considering which firms to turn to for vehicle insurance policies. Here is some of the key information people need to know about car insurance companies in Nigeria.
Car Dealers and Comprehensive Insurance
When people buy new vehicles, they may not feel the need to research car insurance companies in Nigeria because their car dealer may already be offering comprehensive insurance as part of the vehicle purchase. Or the buyers may be offered this kind of product as an option, for an additional fee. The idea here is that when these customers purchase the vehicle, they already want to take care of related requirements and charges, so that they can simply enjoy owning and driving the car. Since third party auto insurance is mandatory under Nigerian law, the customers can already meet and exceed this requirement by including the comprehensive car insurance in the purchase. That said; it is still better to ask around with other car insurance companies in Nigeria because it may be possible to get a better deal on this product, so that it will cost less, or it will include additional benefits.
Well-Known Insurance Companies
When choosing from among car insurance companies in Nigeria, it’s important to choose companies that you know you can rely on. If a less well-known company offers the product at much lower rates, it’s important to step back and consider the offer carefully. After all, even if the insurance product is more affordable, it will not do much good if the company will refuse to honour the agreement later in the event of a car accident or some other condition. Or, even if the company eventually honours its obligation, it will not be a good situation if you will be forced to jump through hoops or wait a very long time, before this, can happen.
So it makes more sense to narrow your choice to car insurance companies in Nigeria which have a good track record of making timely payments and offering good customer service. Some of the companies, which tend to get mentioned, include Zenith General Insurance, Leadway Assurance, AIICO Insurance PLC and Cornerstone Insurance. Be sure to do your due diligence, and this includes reading the fine print of any policies, as well as checking within your circle of friends and family members, to find recommendations. This way, you can make sure that the firm you eventually choose is one of the car insurance companies in Nigeria which can truly be trusted.