Motor (Automobile)

COMPREHENSIVE MOTOR INSURANCE

PERILS/RISK COVERED

  • Unlimited liability for death or bodily injury to third parties
  • Damage to the property of third parties up to a limit of N1m for anyone accident
  • Indemnity to policy holder for loss or damage to vehicle as a result of accidental collision or overturning of the vehicle, fire and theft up to the limit of the sum insured
  • Medical expenses for injury to the occupants of the vehicle up to a limit of N5,000.
  • Cost of towing the vehicle following an accident- limit is 20% of the agreed cost of repairs or N4,000 for private car and N8,000 for commercial vehicle whichever is less.
  • Authorized repair limit – N15, 000 for Private and Commercial vehicle.

THIRD PARTY INSURANCE ONLY

This Policy Covers the Insured against:-

  • Legal liability to third party in respect of death or bodily injury for an unlimited amount
  • Third party property damage up to N1, 000,000.
  • Legal cost incurred by the insured with the consent of the insurer

PERILS/RISK NOT COVERED

The company shall not be liable for:

  • Any accident loss, damage and or liability caused outside the geographical area of Nigeria
  • Any claim arising out of any contractual liability.
  • Any accident loss or damage or liability caused , sustained or incurred:
    • Where the vehicle is not used for the purpose for which it is being insured.
    • Where the vehicle is being driven by someone not permitted to drive.
    • Loss/damage from flood, typhoon, hurricane, volcanic, exemption, earthquake etc
    • Strike, riot and civil commotion risk
    • War risk
    • Any theft occasioned by the staff or the insured or any member of the insured’s family or any person permanently residing with the insured.
    • Consequential loss
    • Wear and tear
    • Mechanical or electrical break down
    • Failures and breakages
    • Damage to tyres unless the Motor car is damaged at the sometime

For total loss including Theft cases – 10% of sum insured.

What we can offer…

At a cost or Extra Premium

  • Riot, Strike & Civil Commotion – 0.75% of value
  • Flood, Typhoon, Hurricane, Volcanic Eruption – 0.5% of value
  • Increased TPPDL – 0.2% of value in excess of policy limit of N1,000,000
  • This should represent the current replacement value otherwise the condition of average will adversely affect the insured in the event of a claim

BASIS FOR SUM INSURED

  • This should represent the current replacement value otherwise the condition of average will adversely affect the insured in the event of a claim