Motor Insurance

Motor Insurance is compulsory in Nigeria and many West African Countries. A motor vehicle is simply anything that can be propelled and has four or more tires. On the other hand, anything having less than four tires and is mechanically propelled is regarded as a motorcycle including mopeds, three wheeled cars and motorcycles excluding bicycles. There are 2 types of vehicle insurance; Private and Commercial Motor insurance. This class of insurance is to indemnify for accidental loss of or damage to vehicles, financial compensation for third party bodily injury or property damage while being driven by the insured or other persons carrying out any legal activity with the insured's consent.