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Chuks Udo Okonta
As third party motor insurance policy only covers against third party/person liability, it is also necessary to protect yourself against risks from incidences, especially now that inflation has shut the cost of things above the rooftop.
Most insurance companies now offer a bridge between third party motor insurance and comprehensive so as to provide succour for Policyholders at the time of disaster. The bridge is called Enhanced Motor Third Party Insurance.
Presently, the normal third motor insurance sells for N15,000 for vehicles and provide cover up to N3 million. But enhanced third party motor insurance comes in variance, with premium ranging from N25,000; N30,000; N35,000 and provide up to N750,000 in personal vehicle damages and all third party cover benefits.
Others benefits
* You will be pay up to N750,000 for damages to personal vehicle.
* Refund of legal fees, if you are prosecuted in court over an accident
* When there is an accident to a third party leading to a bodily injury or death, your insurer will settle the expenses
* You will be paid up to N3 million for damage caused by you to someone’s vehicle.
* Liability in respect of accidental death caused to a third party is Unlimited (but reasonable)
When an accident occurs, ensure the safety of all involved, take pictures and call the police to report the accident.
Fill claim form and submit all necessary documents, photographs and estimate of repairs. All this can be done online.
