The Nigerian Law mandates that every vehicle on the road must have at least third party insurance that protects third party vehicles and properties. This is the minimum cover you must have, but with all the uncertainties in the air this 2023, you should upgrade to a fuller coverage that not only protects third parties but also covers you and your vehicle.
What exactly is Comprehensive Auto Insurance?
It is an all-inclusive motor (vehicle) insurance that covers your vehicle and other third party properties affected during an accident involving your insured vehicle. It also covers you and your vehicle against loss or damages due to a wide range of perils like flood, vandalism, fire, theft, SRCC etc. and also death and body injuries sustained during such incidents.
Still wondering why you should opt for Comprehensive Auto Insurance this year? Check out some of its benefits below:
It covers damages or loss caused by Strikes, Riots and Civil Commission (SRCC)
This is a rare-find as most insurers add this cover at an extra cost (premium) to active property insurance policies.
However, if you opt for Leadway Assurance’s comprehensive auto insurance, your vehicle would be covered for damages caused by strikes, riots, and civil commission; you can make claims and get reimbursed if any of these events occur and your vehicle gets damaged or stolen.
Protection against Vandalism
Vandalism occurs when there are actions involving the deliberate destruction of public property. This happens when members of the public are agitated about certain issues. Examples include the recent naira scarcity, fuel scarcity, and elections. If your vehicle is damaged as a result of these uproars and you have comprehensive auto insurance, you are covered.
Protection from natural disasters (e.g. flood): Comprehensive Auto Insurance also helps to protect your vehicle from damages caused by natural resources like rain, flood, earthquake, and so on. According to Punch, there will be an early rainfall this year and the flood that would follow would be more than that of last year. Now more than ever, would be a great time to invest in Comprehensive Auto Insurance to ensure that your car is fully covered against any possible damage by this.
Cover Against Vehicle Theft
A victim of car theft earlier this year while describing his experience said it felt like a ‘film trick’. With comprehensive auto insurance, if your car gets stolen, you don’t have to worry. You can replace your car in no time because loss as result of theft is covered under this policy.
While many people shy away from Comprehensive Auto Insurance due to the fact that it is relatively more expensive than the average third party auto insurance, in the long run it is very cost-effective. Your vehicle is protected all year long from all sorts of mishaps that would be more expensive to fix or replace without it. It also covers damages to both your vehicle and the third-party, unlike third-party insurance which covers only the third-party.
Protection against physical injuries
Comprehensive Auto Insurance also provides cover for you and third parties when an accident occurs.That is, it covers your hospital bill and that of the other injured parties. This of course comes with terms and conditions.
Leadway Assurance offers Comprehensive Auto Insurance for both private and commercial vehicles, and with the rise in agitation caused by fuel scarcity, naira scarcity and other issues, this is the investment you need in 2023!
You can drive assured with Leadway Assurance, because they’ve got the rest of your worries covered! You can also check out their claims record if you’re still having doubts
Visit this link to buy Comprehensive Auto Insurance in 2 mins or send them a DM on any of their social media platforms.
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Twitter: @Leadwayinsure
