AIICO Urges Motorists to See Third-Party Insurance as a Safety Net, Not Just a Legal Obligation
AIICO Insurance has underscored the crucial role of third-party motor insurance in safeguarding road users, urging motorists to view it not merely as a legal requirement but as an essential financial safety net.
This call comes amid the nationwide enforcement of third-party motor insurance by the Nigerian police, which began on February 1. The policy, mandated by law, provides financial compensation to victims in cases of bodily injury, death, or property damage caused by insured motorists.
In a statement, AIICO warned that the prevalence of uninsured vehicles on Nigerian roads poses a severe risk to both drivers and pedestrians, leaving many accident victims without financial recourse.
“Every year, countless road users face significant financial and emotional distress due to accidents involving vehicles without valid insurance,” the statement read. “Medical bills, car repairs, and other unforeseen expenses can be overwhelming. When the at-fault driver lacks valid insurance, victims are left to bear these costs alone.”
The insurer noted that the problem is particularly severe among commercial vehicle operators, many of whom neglect to obtain valid insurance, exacerbating the hardship for accident victims.
“With the rising cost of living, the financial impact of road accidents can be devastating. Compliance with insurance regulations is not just about avoiding penalties—it is about protecting oneself and others on the road,” AIICO said.
The company highlighted its commitment to providing timely and reliable claims settlements, reinforcing its reputation for efficiently processing genuine claims to support both policyholders and third-party victims.
“As enforcement efforts intensify, AIICO continues to advocate for widespread compliance, ensuring that motorists secure valid coverage as a safeguard against unforeseen liabilities,” it stated.
To streamline access to third-party motor insurance, AIICO has introduced a simplified process that enables vehicle owners to obtain coverage within minutes through its online platform.
“The enforcement of this policy is not merely a regulatory requirement but a necessary step toward creating safer roads and a more responsible driving culture,” the company stated. “By ensuring compliance, authorities are taking a proactive approach to reducing the financial and emotional burden that accidents impose on innocent third parties.”
With enforcement now in full swing, AIICO’s message is clear: third-party motor insurance is more than just a legal formality—it is a critical measure to protect lives and livelihoods on Nigeria’s roads.
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