Ask The Expert: 10 Reasons Why You Need Car Insurance In Nigeria


It is a known fact that driving around in Lagos needs a special skill, and a whole lot of patience. But what we don’t really know is how to keep safe on the roads and most importantly, how to protect ourselves from any type of accident. We’ve partnered up with car insurance expert, Tunde Akinwotu who will be answering all your questions on car insurance and skills on safe driving.

In this weeks instalment of ‘Ask The Expert’, we’re answering your questions about why you need car insurance. Here are 10 perfectly good reasons why you need car insurance today! We’re hoping this will not only educate you but also produce safer drivers across Nigeria.

1) It’s the law

But your probably already knew that. It has been made mandatory for a driver in Nigeria to have at least a third party insurance cover to drive on the road. Most states require drivers to possess bodily injury and property damage liability to drive legally. Hence the need for a comprehensive insurance.

2. Protect the investment you’ve made on your vehicle

After receiving auto car loans, getting a policy is the next step to protecting the substantial investment you’ve made on your vehicle. After buying a home, purchasing a vehicle is probably one of the biggest investments you’ll ever make, so you want to do all you can to preserve it.

3. Supplement your health insurance in case of an accident

If you don’t have health insurance or have minimal coverage, applying for policies that offer medical payments coverage can help you pay for collision-related medical expenses up to a certain amount.

4. Protect your assets from liability lawsuits

Liability lawsuits for bodily injury or property damage can bring you to financial ruin if you don’t have adequate protection. Liability coverage will pay for your legal defense and keep your assets out of jeopardy.

5. Cover damages to your vehicle from unexpected events

Let’s face is, this is Nigeria. Anything can happen at anytime. Your car could be stolen, vandalized, or damaged by weather or a host of other contingencies at any time. Your car insurance will protect you from these losses that might ensue.

6. Your transportation is covered even after a collision

Some policies will include rental reimbursement coverage, which helps you pay for the cost of a rental car after you are involved in a covered accident. This way, you will have a way to get around while your automobile is being replaced or repaired.

7. Keep your vehicle’s accessories safe

You can apply for pricing estimates on policies that include additional protections, such as CD or stereo coverage. This will pay for losses in the event that your CD’s or stereo equipment is stolen.

8. Prevent an accident from forcing you into bankruptcy

One serious collision is sometimes enough to put the uninsured on the brink of bankruptcy. Without insurance, you could lose everything, and that is not worth the risk. The money you would have to spend on medical expenses, lawsuit judgments, and repairs is well worth the investment in a plan.

9.Third Party Property damage

Car Insurance covers third party, third party property damage and unlimited legal liability that might arise in the process.

10. Peace of mind

Last but not least, the peace of mind that comes with knowing you have insurance is absolutely priceless. Comparing quotes on quality plans can help you drive with more confidence because you will know that you are protected against whatever may happen to you on the road.

Got more questions for Tunde the car insurance guru? Hit him up via email here!


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