Why You Should Upgrade to a Comprehensive Motor Insurance

September 18, 2017

Mr. Peter came out of his apartment after a heavy storm to observe that his car has been damaged by the fallen trees. He felt bad and worried about how he would get the money to fix the damage. Mr. Tunde just concluded a deal with a client but on getting to his car parked outside the client’s residence observed that his right side mirror and headlight have been smashed. Engulfed with anger and worry of how he would get it fixed in this recession.

Mrs. Mary came out of her salon to see that the left door of her car has been dented. She started crying and distressed that she cannot afford the repairs with her current finances. Looking at all the above scenarios, I believe you can all relate with them and probably might have fallen into one or two categories. They all have car insurance at least a third party motor insurance as required by law.

Mr. Peter, Mr. Tunde and Mrs. Mary would not have felt bad, gotten angry and cried respectively if they had purchased comprehensive motor insurance. With a comprehensive motor insurance, the stress, anger and cry of an unfortunate event will automatically be transferred to their insurer.
Now, let’s take a look at some common questions asked about Comprehensive Motor Insurance


What makes comprehensive motor insurance more stress-relieving and comforting than third-party motor insurance?

As already briefly stated above, third-party motor insurance only cover the damage done to another person’s car/property. However, comprehensive motor insurance being the highest level of protection would cover the damage to your car and also cover the damage done to another person’s car/property.


Why should I upgrade to comprehensive motor insurance?

With comprehensive motor insurance, you can claim from your insurer for all unexpected accidents that are deemed to be your fault. It also applies when fault can’t be proven, e.g. if you return to your car after shopping to find that someone has hit you and driven off like in the case of Mr. Tunde above.

Without comprehensive insurance cover, you risk having to spend for repairs yourself. Worse still, if your car is written off you’ll have to pay for a brand-new car. A comprehensive policy gives you that added level of protection and peace of mind that you won’t necessarily have should you need to pay for expensive repairs.


What does comprehensive insurance really cover?

The cover or benefits offered by comprehensive motor insurance which is a lot more embracing include:

  • Loss of or damage to your vehicle as a result of accident
  • Loss or damage to your vehicle resulting from Fire
  • Loss or damage to your vehicle resulting from Fire
  • Loss or damage to your vehicle due to theft
  • Damage done by your vehicle to another up to N1,000,000
  • Damage to Third Party property by your vehicle up to N1,000,000
  • Damage to Third parties by your vehicle which caused bodily injury and death is Unlimited
  • Medical expenses to you or your driver or any occupant of your vehicle to the tune of N10,000
  • Passenger Liability (N75,000 per person and a maximum of N300,000 per vehicle)
  • Damage resulting from Riot, Strike and Civil Commotion (SRCC)
  • Towing Limit up to N10,000

Where does comprehensive insurance fall short?

Despite its name, comprehensive insurance policy cover in itself is a standard cover that can be enhanced with certain policy extras to meet your needs at additional charges. Here are a few of those policy extras or add-ons:


Excess buyback

Many insurers use the excess proportion to make the vehicle owner conscious to try and prevent losses by making the insured bear part of the claims arising from such accidents. You can buy off this excess at the inception of the cover at an additional charge.


Courtesy car

Many insurers let you use another car while yours is being repaired, but not all of them. It’s also worth noting that courtesy cars usually aren’t provided if your car is written off. This policy extra is at an additional charge.

It’s always best to check the policy details before you buy – don’t assume that you’ll be entitled to all the bells and whistles.

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