There are extraordinary extensions you can incorporate into your motor insurance policy that goes way beyond the regular motor insurance protection.You will recall that we dealt extensively with the covers (both standard and extensions) provided by motor insurance policy in our previous discussions. As we round up our discussion on motor insurance, we shall be taking this extensions a little further. Continue reading BEYOND MOTOR INSURANCE – The Extended Benefits
“If you have suffered a loss from the use of your vehicle, you have a right and a duty to lodge a claim under your motor insurance policy”.
It is a right because you have obtained a genuine insurance cover and have paid the required premium for the relevant period. You are therefore entitled to your claim. It is a duty because you will be helping the general public have confidence in insurance. Insurance penetration in Nigeria is very low therefore making prompt claim settlement and quality customer service a unique selling point for insurance companies. Continue reading WHY YOUR MOTOR INSURANCE MAY NOT COMPENSATE YOU (FULLY)
I once had a discussion with a friend who claimed to have been defrauded by his insurance company. He lodged a claim under his motor insurance policy and at the end of the whole thing, what he got in form of compensation fell way below his expectations.
As a Claims Expert, i requested to know the details of the transaction and a copy of his insurance policy. After a careful perusal I discovered that my guy like many other claimants threw caution to the wind when he took up his motor insurance policy. It is too late to cry after the head has been chopped off!
A claim in insurance is the occurrence of the eventuality(ies) insured against upon which the liability of your insurance policy is engaged. In other words, it means you have suffered a loss from the use of your vehicle which requires your motor insurance policy to come into operation. Continue reading YOU’VE GOT A CLAIM? GET COMPENSATED!
This is a continuation of our series “Understanding Motor Insurance Policy”. We have explained the basic covers provided by a standard motor insurance policy. Kindly go through our page to read it up.
Today we shall be focusing on how to maximize the covers available under motor insurance policy. Your may call them policy “ad-on” but they are technically referred to as “policy extensions or exclusions”. It means the policy excluded these items or the policy has been extended to cover these items. We should however state here that these extensions comes with payment of an additional premium. Continue reading YOUR MOTOR INSURANCE POLICY CHECKLIST (PT 2)