Dangers of Driving Without Vehicle Insurance in Nigeria By Fom Gyem
Driving without insurance in Nigeria is illegal and can lead to hefty fines or even imprisonment. In an insurance contract, the insured (you) buys coverage from the insurer (the insurance company). If you are one of the million drivers who choose to get behind the wheel without auto insurance in Nigeria, you should contact an insurance agent immediately and get covered to avoid getting fined.
According to the Nigerian Insurance Act of 2003, drivers can receive a fine of up to N250,000 and imprisonment for 1 year, your vehicle can be seized and your license revoked if caught on the road without insurance, don’t risk it.
Accidents can happen, and the financial consequences can be severe. Car insurance acts as a safety net, protecting you from medical bills, repair costs, and legal fees. It’s a wise investment in your financial security especially in this economy. Nigerian law requires all drivers to maintain at minimum a third-party liability insurance policy to ensure there is a way to compensate other parties for damages and injuries in the event of an accident. With third-party coverage, if you cause an accident that damages another person’s property or person, your insurance will cover the costs associated with that third party’s damages, up to the limit of your policy.
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This prevents the other party from having to pursue you individually to recover costs, which can lead to lengthy and complicated legal battles if you cannot pay out-of-pocket for the damages you caused. Suppose you understand what your policy entails and follow the proper procedures. In that case, you can be sure that it would be easy to have a smoother claims experience and receive the compensation you rightly deserve.
If you find yourself in an accident, follow these steps to file a successful insurance claim:
Notify Your Insurance Company: Report the incident to your insurance provider immediately. Most companies require notification within 24-48 hours.
Gather Information: Collect details about the accident, including names, contact information, and witness statements, it’s a plus if an officer from the Federal Road Safety Corps is at the scene of the accident.
Document the Incident: Take photos or videos of the accident scene, damage, and injuries.
File a Police Report: It’s necessary, to file a police report to document the incident, and also if an officer from FRSC is available at the scene he can accompany you to the police to make the process seamless.
Complete the Claim Form: Obtain a claim form from your insurance company and provide accurate information.
Submit the Claim: Send the completed form and supporting documentation to your insurance company.
Provide Additional Information: If requested, provide any additional documents or information needed to process your claim.
Cooperate with the Investigation: Your insurance company may investigate the claim. Cooperate fully by providing the requested information and access to your vehicle.
Await the Claim Decision: Your insurance company will review your claim and determine coverage.
Claim Settlement: If your claim is approved, you will receive compensation for covered losses, such as medical expenses or vehicle repairs.
The right vehicle insurance can shield you from financial disaster by covering all these expenses. It’s a small investment for significant peace of mind and protection.
