Linkage unveils budget-friendly third-party motor insurance

In response to the evolving needs of Nigerian motorists, Linkage Assurance Plc has introduced an enhanced third-party motor insurance package, ‘Third Party Plus,’ offering additional protection beyond the traditional third-party coverage.

The innovative policy, designed to cater to budget-conscious vehicle owners, combines the legally required third-party insurance with own damage protection, ensuring that policyholders are not left stranded in the event of an accident.

Affordable with comprehensive benefits, unlike the conventional third-party motor insurance policy priced at N15,000, which only covers third-party liabilities, the Linkage Third Party Plus provides extra benefits, including an own damage coverage starting from N500, 000 to N1,000,000 depending on the variant chosen .

The product is available in four different plans to accommodate various budgets and protection levels including Third Party Plus: On-The-Go – N30, 000 premium with Own Damage Cover of N500,000; Third Party Plus: Star with N50,000 premium and own damage cover of N750,000; Third Party Plus: Diamond at N60,000 premium and own damage cover of N850,000; Third Party Plus: Platinum at N70,000 premium and own damage cover of N1,000,000.

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Speaking on Arise TV, Imo Okorie Imo, chief strategy and product officer at Linkage Assurance Plc, emphasised the rationale behind the launch of the Third Party Plus Insurance product.

“Many Nigerian motorists struggle to maintain comprehensive insurance due to economic constraints. We identified the need for a more affordable plan that provides the mandatory third-party cover while also offering some level of protection for their own vehicle,” he explained.

Imo noted that the Third Party Plus was developed in response to market demand, ensuring that customers who cannot afford comprehensive insurance are still protected against both third-party liabilities and personal vehicle damages.

“By law, third-party insurance is compulsory, covering damages to others. However, to provide additional security for our customers, we introduced this hybrid plan, which has received regulatory approval,” he added.