Jalingo noted that many motorists underestimate third-party insurance, assuming it serves only to avoid police harassment. In reality, an annual premium of N15,000 covers damage to third-party ...

reviewed insurance premium rates, which took effect on January 1, 2023. The new rates are as follows: – Private vehicles: ₦15,000 premium for a ₦3 million Third-Party Property Damage (TPPD ...

Currently, annual premium for Third Party Motor Insurance is being sold at N15,000 after it was earlier increased from N5,000. However, LEADERSHIP analysis revealed that, the 9 million uninsured ...

The Police commenced full enforcement of the Third-Party Motor Vehicle ... through the National Insurance Commission (NAICOM) in December 2022 reviewed the premium rate for motor insurance in ...

He also disclosed the premium rates for third-party insurance: N20,000 for commercial vehicles, N15,000 for private vehicles, and N5,000 for tricycles. Itam warned that defaulters would face ...

“The Third-Party Motor Insurance Policy is sold for a premium of N15,000 per year to private car owners, while the premiums for commercial vehicles vary depending on the type of vehicle.

“The Third-Party Motor Insurance Policy is sold for a premium of N15,000 per year to private car owners, while the premiums for commercial vehicles vary depending on the type of vehicle.

The nationwide enforcement of the mandatory Third-Party Vehicle Insurance, as directed by the Inspector-General of Police, Kayode Egbetokun, officially took off on February 1, 2025.This directive aims ...

The police on Saturday began the enforcement of the Third ... party insurance coverage as soon as possible. “Defaulters will face appropriate penalties as stipulated by the law,” he said. At ...

Home and auto insurance premiums have been soaring in the U.S. for years, and it is not just because of inflation and greater losses from natural disasters.

About 30 percent of vehicles in Nigeria are insured, and the Nigeria Police Force (NPF) said plans have been concluded to begin a crackdown on third-party motor insurance policy defaulters from ...

Rising insurance rates impact most drivers, but due to the nature of gig work, high car insurance rates may be hitting ...