Apathy persists on third party, comprehensive insurance

The Nation

Vehicle owners are still averse to purchasing the genuine third party motor insurance certificate. This is because they believe insurance operators do not pay claims when there is one.

For instance, a man who simply identified himself as Ojora, said he does not believe in insurance operators because they do not respond to claims.

Narrating his experience, Ojora said he bought a brand new car for N4.2 million, and paid five per cent of the value as premium for comprehensive insurance.

He however regrets that he was subjected to a lot of hassles when it was time to get paid for claims after his car’s involvement in an accident. Besides, his insured sum was reduced by 10 per cent for reasons he still claims not to understand.

Similarly, another source, who declined to be mentioned, also expressed regrets at the handling of his insurance claims by his insurer.

“I will never have anything to do with insurance companies or their operators because when I had a problem, they refused to pay claim,” he lamented.

For Godwin Ejembi, a staff member of the Nigeria Ports Authority (NPA), Lagos, insurance firms and their operators, are not to be trusted. This is because several times, they run foul of the agrements they have entered into with their clients. Although he said a few of them are credible, majority, he insisted, were fraudulent.

“When there is an accident, they ask you to produce all sorts of  proofs and documents- things they never ask you for when you are buying the policy from them,” he lamented, adding that insurance companies take advantage of their clients. He, therefore, urged insurance brokers to ensure more clarity in their transactions with their clients, especially when they go out to prospect for clients.

But it is not all knocks for the operators. Damilare Shoye, a civil servant, explained that there are advantages of insurance which should be a enough reason for Nigerians to imbibe the insurance culture.

“We need to forget about the negative perception they have about the insurance industry in the past.

“They need to know that things are changing now. We voted for change and we are already feeling it in our lives. We need to change from our thoughts about the past and be positive about the future. The industry also need to enlighten the public about what insurance is all about.”