• Friday, May 24, 2024
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BusinessDay

AIICO Insurance offers motorist insurance options for value

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Underwriting firm, AIICO Insurance plc is giving motorists in Nigeria the opportunity to choose from a variety of its comprehensive motor insurance policies, while trying to insure their vehicles against accident or theft.

David Sobanjo, group managing director, AIICO Group Managing Director said “we now offer our customers, the choice between AIICO Auto Regular, AIICO Auto Classic or AIICO Auto Royale Deluxe”.

Under AIICO Auto Regular, damage to or loss of the vehicle arising from accident (lone or multiple) as well as theft and fire are covered. Should the insured vehicle be involved in an accident resulting in bodily injury, AIICO will pay the medical expenses. Also covered, is a towing van, should it be required.

In case the insured vehicle is involved in an accident resulting in death or bodily injury to other road users, usually called Third Party in insurance parlance, AIICO will pay as much as N1 million to offset the liability should the need arise.

If the insured vehicle should be involved in an accident resulting in litigation, AIICO will also defray the legal cost and other expenses that may arise from there.

To enjoy additional benefits, at extra cost to the customer, he can extend the insurance policy to cover riot, strike and civil commotion, as well as increase the third party property damage limit.

AIICO Auto Classic is a policy for vehicles valued at N3 million and above.

While damage to or loss of the vehicle arising from accident, theft or fire are also covered; AIICO will also cater for medical expenses for the occupants of the vehicle, provides towing van when needed and pay as much as N1.5 million to offset Third Party Property Damage should the need arise. The policy also provides Third Party Liability Cover for death or bodily injury and covers personal effects in event of theft, fire or accident. Policy-holders of AIICO Auto Classic will enjoy free riot, strike and civil commotion extension, as well as free tracker to easily locate the vehicle should it be stolen.

The AIICO Auto Royale Deluxe package is perfect for vehicles at N5 million and above, in addition to the benefits under AIICO Auto Classic, this policy provides free Replacement Car and Chauffer for 10 days in case of accident or theft. With this policy, should the insured vehicle be involved in an accident, AIICO Insurance will pay as much as N2 million to offset Third Party Property Damage should the need arises. The policy has also been extended to cover occupants of the vehicle against personal accident, as well as cover for personal effects in the event of theft, fire or accident.