How Ignorance About Car Insurance Is Costing You Money.

Before you proceed, please note that this article is for people that meet at least one of the following requirements below:

1.       Do you own a car?
2.       Are you planning to buy a car soon?
3. Does driving intrigue you?
4. Are you interested in learning about car insurance?

Please proceed If you said yes to one or more of the questions above.  Otherwise, please save yourself the time.

The Problem

“Knowledge is power” “Ignorance is a disease”. Ignorance about car insurance is costing you money and putting free money into the pockets of insurance companies.

Car accidents are a common sight in Nigeria. Bad roads, impatient drivers and bad drivers are the main culprits. Furthermore, We have a lot of drivers that didn’t go to driving school.

A common sight right after the accident is people gathering around the car, either fighting over who is right and who is wrong, or begging to be forgiven for the damage on the other party’s car.

In our society, we believe that begging or apologizing takes care of problems. As such, when you hit my car and destroy my bumper, you apologize and all is good.

You will see other pedestrians come up to the scene of the accident and say things like, “e don beg you na”, “you big pass am, God wey give you money to buy the motor go give you money to repair am”, “sorry for am na” etc.

One is left wondering what you are supposed to do with the apology. Can you go to a panel beater and say, “oga them beg me so I say make I beg you to fix my car?” Or will you take the “I beg” to Ladipo to buy a new headlight?

The Solution

If ignorance about car insurance is costing you money, then knowledge is the only way to combat it.

There are many things our government does not do right, but one of the  thing they have done right is the mandatory liability insurance for car.

There is an enforced law in Nigeria that says that every car owner must have 3rd Party Liability Insurance for each of their vehicle. 

If you have ever registered a vehicle or renewed your vehicle registration, you should have received a text such as this:

This text is confirmation that you now have valid 3rd party liability insurance.

Insurance companies have taken advantage of this law to make “free money.” This is because the average Nigerian is ignorant about how insurance works. Some still believe that insurance doesn’t work in Nigeria. 

I have put this site together, to break that knowledge barrier, to get people enlightened. If you have read this far, then most likely you are interested in getting this information.

I created this site where I will be breaking down the 3rd party and comprehensive insurance in subsequent posts.

Do you have questions about car insurance or need guidance on how to go about making successful insurance claims? Do you have any question you would like us to answer? Send them to Insurance Info and please include the state where you live (no full names will be used).

By submitting your story to Insurance Info Nigeria, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.