What type of Auto insurance do I need?
We have all agreed that whatever you spend your money to acquire or whatever you own needs to be protected right? Since we have established that fact, let’s help you choose the right insurance plan for your car.
It would be straightforward if we simply said Comprehensive auto insurance is what you need but that will defy the essence of options. So, what we will do is let you know the auto-insurance options available to you, what you get with each one and then let you choose what is best for you or your car. How about that? Ok, here we go.
Comprehensive Auto Insurance
This offers the Policyholder the widest range of protection as it covers for damage or loss of the policyholder's vehicle and includes all the benefits of Third-Party Auto Insurance policy.
If you choose comprehensive insurance, here is what your car will be covered for,
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At Tangerine, we go further to let you choose between bearing some of the risks or allowing us take on the full risk. In the case you go for the latter option, it means if your car gets stolen, we indemnify meaning we bring you back to the state you were before the loss. In the former option, you bear some of the risk and we augment.
At this point you might ask what makes the difference, the difference is in the premium you pay. An annual payment of 3% of your car’s worth will provide indemnity insurance on your vehicle.
Third-Party Insurance
Every car owner is required by law in Nigeria to have a third-party insurance on their vehicle. Third party auto insurance means that if you damage (crash into) someone else's vehicle, Tangerine pays the owner of that vehicle (the third party).
With our third-party insurance, you can add on a fire and theft cover for an extra layer of protection. This means beyond covering a third-party’s car, if your car is involved in either fire or theft, Tangerine indemnifies you against loss.
So now we ask, what Auto insurance do you need?