How do you find out what car insurance in Nigeria is the cheapest but still offers the best bang for your buck? One word: Research, and that’s exactly what you’re doing now. Thankfully, i’ve done mine as well, or you wouldn’t be reading this right now. Anyway, the truth is you can find this info online but it will take you a considerable amount of time. The best way to know what and what car insurance plan in Nigeria is cheap or expensive is to contact the company in question.
After you’ve read all this, I’ll just direct you to where you can apply for car insurance straight away. Let’s go:
Cheapest car insurance plans in Nigeria
1. AXA Mansard:
They have 3 main car insurance plans namely Auto Plus, Auto Vintage and Auto Classic. Using our Toyota Camry as a benchmark, annual insurance cost amounts to N150,000 (Auto Plus), N112,500 (Auto Vintage) and N78,750 (Auto Classic).
2. Cornerstone Insurance:
Has an additional Car insurance plan to total 4 namely, Auto Bronze, Auto Silver, Auto Gold and Auto Platinum. Annual insurance costs amounts to N62,500 (Auto Bronze), N75,000 (Auto Silver), N87,500 (Auto Gold) and N100,000 (Auto Platinum).
3. IGI Nigeria:
Annually, insurance paid for our Toyota Camry amounts to N125,000.
4. Law Union & Rock Insurance Plc:
On their basic plan, Law Union & Rock Insurance Plc will have you paying an annual insurance cost of N125,000 for the Toyota. If you want extra cover, the Comprehensive standard and Plus offers attract N150,000 and N162,500 per year respectively.
5. Leadway Assurance:
The car insurance rates of Leadway Assurance goes as thus: Their Basic comprehensive motor insurance cover goes for N100,000 on our Toyota. Additional benefits are available in the Comprehensive Standard and Plus plans at an annual cost of N137,500 and N156,250 respectively.
6. Mutual Benefits Assurance:
On their official company website, there is an Insurance calculator that gives you a quote. According to it, annual comprehensive insurance costs N112,500 for our Toyota Camry.
7. Niger Insurance:
According to Insurance quotes website, Topcheck, Basic comprehensive insurance cover goes for N100,000 annually. For added benefits the standard cover goes for N112,500 while comprehensive plus goes for N137,500.
8. Old Mutual Insurance:
Here, annual insurance costs N125,000 for basic comprehensive insurance. Comprehensive standard goes for N150,000 while plus goes for N162,5000
How to get car insurance?
Now you know the cheapest car insurance plans available in Nigeria.
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