Best Car Insurance Company In Nigeria

Want to know the best car insurance company in Nigeria? Stick around then. Best Insurance companies in Nigeria don’t focus on particular insurance. That is, they hardly segment themselves. So, below are list of some of the best companies currently. Let’s get started.


Before we dive right in, reasons, why most insurance companies don’t usually segment themselves is because: you wouldn鈥檛 want to have your car insurance聽in company A. Then, have your house insurance with company B. And then, your health insurance with company Z except you just like stress. However, there are聽things to look out for in a car insurance company, regardless of if you have them in your health or business plan before.

Here are Top Vehicle/Car Insurance Companies In Nigeria

1.聽AXA Mansard Car Insurance

AXA Mansard聽provides different packages of motor insurance. Their plans include:

  • AutoFlex:聽This is a customizable and flexible motor policy that they provide to help clients make big savings on their motor insurance premiums
  • Auto Plus:聽This insurance plan covers for flood and other extras. It includes
  • AutoGo:聽With this plan, you can buy your Third Party motor insurance and get your certificate instantly.

The three different聽car insurance plans聽cover third-party property damage, third-party bodily injury, theft, fire damage to the insured vehicle, accidental damage, free vehicle tracker, and so on.

Car Insurance Company In Nigeria
Axa Mansard Car Insurance

2.聽AIICO Car Insurance

AIICO Insurance聽covers different types of automobiles 鈥 for private and commercial uses. Their vehicle insurance package also caters for motorcycles and tricycles.

AIICO鈥檚 auto insurance covers the following category of people:

  • Private Vehicle Owners
  • Multiple Family Owners
  • Taxi Owners
  • Bus Owners
  • Delivery Vehicles
  • Commercial Fleets

While reading this, kindly check out聽Top 4 Travel Insurance Companies in Nigeria

aiico motor car insurance in Nigeria
AIICO Car Insurance

3.聽LeadWay Car Insurance

Leadway鈥檚 comprehensive motor insurance provides benefits against loss or damage to your insured car as a result of an accident or a mechanical damage/breakdown.

Car Insurance Company In Nigeria
Leadway Car Insurance

4.聽Industrial and General Car Insurance (IGI)

IGI provides motor vehicle insurance that covers the following:

  • Third-Party Only:聽This only provides cover for unlimited indemnity for legal liability to third parties for death or bodily injury, legal costs incurred in defending an action for damages, liabilities that arise from accidents on third-party property damage, and so on. You can refer to this post to learn more about聽professional indemnity insurance.
  • Third-Party Fire & Theft:聽This car insurance policy provides the third-party only cover along with cover for the risks of fire and theft.
  • Comprehensive:聽This policy provides cover for accidental damage to the specifically insured vehicle.
Car Insurance Company In Nigeria
IGi Car Insurance

5.聽Custodian and Allied Car Insurance

Custodian Motor Insurance Policy covers your car, truck, trailer or motorcycles based on the motor insurance type you choose.

Their vehicle insurance policies include:

  • Comprehensive Insurance Cover:聽This covers accidental damages, fire, theft, accidental damage to the property of the third-party, death or bodily injury to the third-party.
  • Third-Party Fire & Theft Insurance Cover:聽This covers accidental damage to only the third-party鈥檚 vehicle, death or bodily injury to the third-party.

Here Are Some Frequently Asked Questions

Is it worth getting fully comprehensive car insurance?

If your car is not worth so much, you can save costs by just getting a third party motor insurance. This is the minimum cover required by law.

Also, Read Insurance Companies in Nigeria and Factors to Consider Before Choosing Insurance Company

What is third party insurance in Nigeria?

This is an insurance that covers the insured liability for death or injury to a third party or loss/ damage of a third party鈥檚 property in the event of an accident. Third-party motor insurance is a compulsory insurance policy in Nigeria.

Does third party insurance cover my car?

Third-Party聽Property Damage聽cover聽protects you from聽the聽costs of damage your聽car聽causes to someone else鈥檚聽car聽or property, however it doesn鈥檛 extend to any damage your little beauty suffers in聽the聽event of an accident or other insured events.

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