Best 6 Car Insurance Companies In Nigeria

It is essential that every car owner has an insurance. Like other countries, Nigeria isn’t left behind when it comes to car insurance. Infact, there are lots car insurance companies in Nigeria. However, we’ll only focus on the main ones in this article.

Here are some of the most best car insurance companies in Nigeria:

1. AXA Mansard Insurance: AXA Mansard offers a range of car insurance policies that cover third-party liability, comprehensive coverage, and more.

AXA Mansard Insurance is one of the top car insurance companies in Nigeria. They offer a range of car insurance policies to cover different needs and budgets.

Here are some of the features and benefits of their car insurance:

Comprehensive coverage: AXA Mansard’s comprehensive car insurance policy covers accidental damage, theft, fire, and third-party liability.

Third-party liability: If you cause an accident that damages someone else’s property or causes bodily harm, AXA Mansard will cover the costs of any damages or injuries up to a specified limit.

Personal accident cover: This optional coverage provides compensation in the event of accidental death, permanent disability, or medical expenses resulting from an accident.

No-Claim Bonus: AXA Mansard offers a No-Claim Bonus discount for policyholders who go a certain period without making a claim. This can help you save money on your premiums.

Roadside assistance: AXA Mansard offers a 24-hour roadside assistance service in case your car breaks down or you have an accident.

Payment flexibility: You can pay your premiums in a variety of ways, including by credit card, direct debit, or through their online payment portal.

AXA Mansard car insurance is a popular choice for drivers in Nigeria due to its comprehensive coverage, flexible payment options, and excellent customer service.

2. AIICO Insurance: AIICO Insurance offers car insurance policies that cover accidental damage, theft, third-party liability, and more.

AIICO Insurance is a leading insurance company in Nigeria that offers various insurance products, including car insurance. The AIICO car insurance policy is designed to provide financial protection to car owners in the event of loss or damage to their vehicles as a result of accidents, theft, fire, or any other unforeseen circumstances.

The AIICO car insurance policy offers two types of coverage options: third-party liability coverage and comprehensive coverage. Third-party liability coverage covers damages or injuries caused to third-party vehicles or individuals, while comprehensive coverage includes third-party liability coverage and also covers damages or loss to the insured vehicle.

Aiico insurance company

To purchase an AIICO car insurance policy, you can visit their website or any of their offices to obtain a quote and make payment. It’s important to note that the cost of the policy will depend on factors such as the type of coverage selected, the value of the insured vehicle, and the driver’s age and driving history.

In the event of an accident or any other incident, you can make a claim by contacting AIICO’s claims department via their website, email, or phone. You will be required to provide relevant details and documentation to support your claim, such as a police report, medical reports, and proof of ownership of the insured vehicle.

3. Leadway Assurance: Leadway Assurance Company Limited is a leading insurance company in Nigeria that offers a range of insurance products, including car insurance. Leadway car insurance provides coverage for loss or damage to your vehicle caused by accidents, theft, fire, and other perils.

Leadway Assurance

Like AXA Mansard, their coverages also includes No-Claim Discount, Personal Accident Cover, Third-Party Coverage, etc.

4. Mutual Benefits Assurance: Mutual Benefits Car Insurance is a type of car insurance policy offered by Mutual Benefits Assurance Plc, a leading insurance company in Nigeria. The policy provides coverage for loss or damage to your vehicle, third-party liability, and personal accident cover for the driver and passengers.

Mutual Benefits Assurance

5. Cornerstone Insurance: Cornerstone Insurance is an insurance company that offers a variety of insurance products, including car insurance. They provide coverage for drivers in many different situations, such as liability coverage, collision coverage, and comprehensive coverage.

Liability coverage helps pay for damages or injuries that you cause to others while driving your car. Collision coverage helps pay for damages to your own car in the event of an accident, regardless of who is at fault. Comprehensive coverage helps pay for damages to your car from non-collision incidents such as theft, vandalism, or natural disasters.

Cornerstone Insurance may also offer additional coverage options such as roadside assistance, rental car coverage, and personal injury protection. It’s important to review and compare different car insurance policies to find one that best fits your needs and budget.

Cornerstone Insurance

If you’re interested in purchasing car insurance from Cornerstone, you can visit their website or speak with an insurance agent to get a quote and learn more about their coverage options.

6. Sovereign Trust Insurance: Sovereign Trust Insurance also provides car insurance policies that cover, comprehensive coverage, third-party liability, etc.


As you can see, there are many car insurance companies you could choose from. Based on your interest, you’ll probably go for the one that suits your needs.

However, when comparing car insurance policies in Nigeria, there are a few factors to consider. These include:

  • Coverage: Look for a policy that offers the coverage you need, such as third-party liability, comprehensive coverage, or additional options like personal accident cover or breakdown assistance.
  • Cost: Compare premiums from different insurance companies to find one that fits your budget. However, don’t only consider the price, but also consider the value for the coverage.
  • Reputation: Look for an insurance company with a good reputation for customer service and claims handling.
  • Discounts: Some insurance companies offer discounts for things like safe driving records or bundling multiple policies together.
  • Payment options: Check if the insurance company offers flexible payment options, such as monthly or quarterly payments, and what the penalties are for late payments.

In addition to the above factors, it is also important to read the policy documents carefully to understand what is covered, what is excluded, and what the terms and conditions are. If you have any questions or concerns, be sure to ask the insurance company or a qualified insurance agent for help.

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