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Chuks Udo Okonta
Most insurance policyholders want policies sold below the approved rates, which unknown to them are fake.
Having a fake insurance policy amounts to having no cover and there are consequences holding an ordinary paper with hope of having a claim when risk occurs.
Effects of cheap/fake insurance policies
* Waste of hard earned income
* Penalties
In Lagos State lack of motor insurance attracts N20,000 fine
* Police arrest
* Payment of third party damages
* Total loss of vehicle if not cover with comprehensive policy
* Lack of protection against risk arising from the vehicle
How to verify your motor insurance certificate
Dial *565*11#
Ask NIID on Goggle and follow the process
