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Just recently, Leadway assurance has gone into partnership with Total Nigeria Plc. The partnership reinforces the quest to make insurance market closer to all Nigerians. And you’ll wonder how this partnership will benefit you as a customer.

Well, all these are what you’ll learn today in an interview with the National Retail Manager Leadway Assurance ALEX ANABA

Q1: WHAT IS THIRD PARTY INSURANCE?

ANS: Third party insurance is that insurance that takes care of the liability of an insured to the third party. And to make it very clear and extremely simple for an average motorist in Nigeria, let’s describe it pictorially that the insurance company issuing out the insurance is the first party, the person buying it which is the insured is the second party and every other persons outside of this clue is the third party. So when we talk about third party motor insurance, basically, it means you are buying a cover for the benefit of the third party. So you the second party don’t have any benefit to take, material benefit from it. So that’s all about third party motor insurance.

Q2: WHAT LEVEL OF DAMAGE DOES THIRD PARTY INSURANCE COVER?

ANS: Basically, it covers material damage. When we talk about material damage, it could be vehicle, it could be building, once it’s a material and the upmost amount it covers is #1million. But when there is a bodily injury t a third party or loss of life, the amount it covers is unlimited but as prescribed by competent court of jurisdiction.

Also read The Difference Between Comprehensive Motor Insurance and Third Party Insurance

Q3: CAN YOU JUST TELL US ABOUT THE PARTNERSHIP WITH TOTAL?

ANS: I’m very excited about this, the Leadway total partnership. One, it’s in standing with the spirit of our regulator and just recently, there is a skill called the MDRI of NICON which is the Marker Development and Restructuring Initiative. And we are looking at how to bring insurance closer to the insuring public. So Leadway taking this first step and giant start in the industry is to bring insurance closer to everybody such that wherever you are located, any nook and cranny, so far you see a total filling station there, you can easily access quality, reliable genuine insurance from an entity like Leadway Assurance Company.

To be continue…..

Watch Autoxpat Tv Show every Tuesday on Tvc @8pm for Automobile and Safety episodes

 

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