Car insurance companies Archives - Car Insurance Nigeria

Introduction to 5 Random Car Insurance Companies in Nigeria

Car Insurance Companies are always going to be a need, especially in a fast revolving world where everything can be quantized and monetized. Our main objective in this article is to present you with an evaluation of a few Car Insurance Companies that operate within Nigeria, so you can deepen your knowledge in them and be able to comprehend what you need to in order to make a smart and mostly informed decision.

Our first company is IGI Nigeria (Industrial & General Insurance). They offer a wide variety of insurance services, or, as it is commonly described general insurance. A client-focused approach makes them the leading provider for these services in West Africa, with 45 branches across Nigeria, having a strong presence in the country. Being the biggest company in the country obliges them to be able to offer affordable rates and maintain the structure formed 16 years ago, while being able to keep up with new tendencies.

Since risk management is always a very sought after field, insurance companies like Cornerstone arise with a similar structure to IGI but with a smaller presence. Their advantage is their focus on innovation and empathy towards the client, which brings a lot to the table when comparing prices, needs and services. When the offer to protect your electronic gadgets is the first thing you see, you might start wondering why you did not think about it before. They specialize in general insurance as well and are ready to provide you with a quote to protect your vehicle.

Leadway Insurance, on the other hand, offer a much more fresh take and attempt to grab your attention with a more western approach. Their website speaks to that. Their comprehensive mortgage and savings plans are other advantages they have and is exactly what makes them a contender to provide you with your insurance needs for your vehicles, but for any other you may have as well. Leadway also rises up with an astounding Education Protection Plan that protects your children´s education in the event of your death.

Leadway, IGI and Cornerstone are market giants and smaller companies, such as ADIC Insurance, or Zenith may have a tough time attempting to compete, but they manage to stay relevant with great plans for Home Insurance, this is the case especially for ADIC. Zenith Insurance focuses on providing general services as well. Having changed owners in the last fifteen years, they are still not at the same level as the previously mentioned companies, but they offer an extensive gamma of options for your insurance needs, from the most common travel insurance services to the detailed needs for your automobile.

There are plenty of Car Insurance Companies in Nigeria and to find one that could be deemed as reliable all that you need to do is visit NAICOM official website, where you will be able to find a list of those Car Insurance Companies that are registered and thus, considered trustworthy.

The Secrets of Getting Cheap Car Insurance Quotes

One of the expenses that car owners can’t avoid is car insurance. Car insurance is a requirement if you want to drive a car in Nigeria. One of the most tedious steps of the process is to get car insurance quotes from various insurance providers. Auto insurance is one of the major expenses for motorists who already need to pay for the vehicle’s maintenance and high fuel prices. Below are some of the tips that can help you find cheap car insurance quotes.

Compare Different Car Insurance Quotes

One of the most effective ways of reducing the amount you need to pay for the vehicle insurance is to shop around. More often than not, insurance companies don’t offer the best deal for existing customers. Instead, they provide the lowest possible prices for new clients. There are various ways that will allow you to compare quotes from various companies. Just make sure that you are comparing policies with the same coverage, and voluntary excesses at the same level as well.

Add More Excesses

When looking for car insurance quotes, it is important that you opt for higher voluntary excess. This will help reduce the premium of the policy. The higher the excess, the lower the insurance premium! Just make sure that you can afford your voluntary excess. If you need to make any insurance claims, you will be required to pay the excess first before the insurance provider pays out.

Think Before Adding Extras

Before adding extras to car insurance quotes, you should think carefully about them first. Some of the extras that you can get include windscreen cover, use of a courtesy car, and legal expenses cover, just to name a few. The extras might come in handy in some instances, but they are not necessary. Adding too many extra features will significantly increase the price of the car insurance policy.

Estimate the Distance You Drive Each Year

Before you look for car insurance quotes, you should estimate your yearly mileage. That way you will be able to decrease your annual mileage cap. This is another source of savings. This is helpful especially if your household has two or more cars, where one of the cars is used more often than the others. Be sure to check the odometer of your cars when looking for auto insurance.

Don’t Opt for Direct Debit

Car insurance companies often say that it will be convenient for car owners to pay via direct debit. While it might seem less painful to pay the premium by installments, it will cost you more in the long run. Insurance companies often charge interest when customers chose to pay their insurance monthly. Ask the insurance company if they allow zero percent purchase credit card to pay for the insurance premium. That way you don’t need to pay insurance even if you opt to spread the cost of your insurance. This is one of the questions you need to consider when looking for car insurance quotes.