• Saturday, April 20, 2024
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If your motor insurance is not NIID compliant…it’s fake


  Except you want to be deceived or you want some people to feed fat on your ignorance, you have got no reason to pay for fake documents in the name of motor third party insurance.

So, now if your policy document is not captured in the Nigerian Insurance Industry Data base (NIID), then that policy document you have as motor third party insurance certificate is fake and worth nothing.

You can actually verify it yourself, right away from any where you are. This has not only brought a check to fake documents, it has now empowered you to make claims on all third party liabilities.

How do you verify the document? Simply apply this code into your GSM handset, and in seconds the status of your insurance is displayed on your screen. (SMS: policy number*plate number to 33125).This is compliant with all networks.

If the resultant message says, “not available on NIID date base, then know that what you are parading as insurance is fake. But if it’s there, it tells you immediately the name in which your vehicle registered; the make and model of the vehicle; the colour of the vehicle; name of the insurance company and date of expiration of the policy.

“Verifying the authenticity of your vehicle insurance policy on the NIID gives you peace of mind and assurance that your claim will be paid,” Sunday Thomas, director general, Nigerian Insurers’ Association stated.

Also important is the source from where you buy your insurance. If you do not buy from any of the 42 general business insurance companies registered and licensed by the National Insurance Commission (NAICOM), it is possible that you buy a fake document in the name of insurance. So, vehicle licensing offices are not insurance companies’ office and touts are there with fake documents to sell to you and this denies you the right to make claims when there is liability.

Motor Third Party Insurance for private vehicles is N5,000 and so that one they have been selling to you at N1,000 or anything less than N5,000 is fake…so, don’t buy.

The benefit of having a third party insurance policy is huge because it protects against third party damage. This means that in the event of an accident occurring, the policy holder has a third party property damage limit up to N1 million and no limit to life the in case of death or permanent disability.