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What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? - Car Talk (4) - Nairaland

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Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by leaderWills(m): 6:40pm On Mar 04, 2016
Which insurance company is genuine and affordable, cos anchor insurance have been collecting my 5k with no benefit for me. I need 5k genuine insurance.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Yetealuv(f): 7:02pm On Mar 04, 2016
dominique:


Then why does FRSC and VIO insist on seeing it and they impound your vehicle if you can't produce it? I believe a good part of the money paid is remitted to government purse. I keep wondering what purpose us this fee supposed to serve especially when it got quadrupled almost overnight?

Why do you find it difficult to comprehend simple explanation? Smh. The guy said its not compulsory to get from the licencing office, it you get it directly from the insurance coy at the same 5k, they will give you your certificate and you can show that to the officials.non of the money gets to the government, it's the wayo people that issued the fake certificates that actually pockets the money. You can actually lay a claim on a third party if you damage another person's (third party)vehicle with yours, that is why it is called a third party insurance.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 7:10pm On Mar 04, 2016
chisco82:

They don't remember asking you because you are beautiful and a woman, the moment they set their eyes on u they forget those things.
They have ask me on several occasions grin
you sef sha...
I very much doubt that's the reason, I guess it's not a common occurence here. It's those licencing officers that do that thing ba?

I use them too,but they don't do that insurance for me, it's compulsory to have insurance but not necessarily that fake rubbish. If you have a legit insurance package, I doubt anyone can stop/harass you for not having the fake one.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass123(m): 7:20pm On Mar 04, 2016
Dad : Choi.. And this is what I'm reaping after sending you to school. undecided

Firefire:



Scientific way of generating income to the state...

APC and their many fraudulent ways of reaping the masses off.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by lormarx: 7:34pm On Mar 04, 2016
Cavenchy:
Keep asking until your fund seeking government finds this thread and makes it compulsory for every car owner in your Nigeria to pay for full comprehensive insurance before your car can be allowed on her roads. In most countries comprehensive insurance cover is compulsory and costs even more than some cars themselves. Other countries have a compulsory 3rd party insurance and Nigeria is one of such. The officers extorting money from you at the offices have seen that Nigerians love shortcuts. If you want genuine insurance cover go and get it from an insurance company directly, no one would actually force you to buy the fake. The people patronising them don't want to get proper insurance. So don't come here to ask questions when you got a fake insurance cover to evade the authorities.
does the 3rd Party insurance you buy online or from other insurance company, cover your car insurance. That is the question here
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Nobody: 7:43pm On Mar 04, 2016
U can actually lay claim on third party insurance provided u have original certificate of insurance from a reputable company because I work with one.

BUT D COMPANY CAN ONLY HELP U 2 AN EXTENT MEANING, UR CLAIM IS LIMITED because DIS A THIRD PARTY INSURANCE WHICH U PAID ONLY 5K 2 D COMPANY.

ALSO NOTE DAT D COMPANY CAN ONLY RESPOND 2 U IF U CRASH INTO ANOTHER PERSON'S CAR AND U HAPPEN 2 BE AT FAULT. DEN THE COMPANY WILL HELP IN FIXING THE THIRD PARTY'S VEHICLE AND NOT YOURS AND ALSO 2 A POINT.

WHERE U GET UR 3RD PARTY INSURANCE DOES NOT MATTER. WHAT IS IMPORTANT IS DAT U CHECK D AUTHENTICITY OF D INSURANCE AND ENSURE IT'S IN D NIID'S DATA BASE.

U CAN CHECK USING EITHER UR VEHICLE PLATE NO OR UR INSURANCE POLICY NO ON WWW.ASKNIID.COM.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bitingcool: 10:21pm On Mar 04, 2016
dominique:


Wow, this is the first time I'm hearing that someone actually got paid from that kind of insurance policy. How long did it take for the company to release the money?

Took about a month.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by olaxy2(m): 10:38pm On Mar 04, 2016
Let's nt go into insurance details now. But if u get ur self a 3rd party insurance policy, I mean original policy u get covered on property damage to property of the 3rd party up to 250k if nt amended yet nd bodily injury or death to a 3rd party up to d tune of 1m
3rd party: person oda than the policy holder or property oda dan the policy holders own
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Drdreluv: 10:51pm On Mar 04, 2016
Fbn insurance
leaderWills:
Which insurance company is genuine and affordable, cos anchor insurance have been collecting my 5k with no benefit for me. I need 5k genuine insurance.
contact me if u are ready
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by Drdreluv: 10:53pm On Mar 04, 2016
Contact me for your car insurance.....First bank insurance truel the first!
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 5:03am On Mar 05, 2016
Stylz69:
It is NOT COMPULSORY for you to purchase your insurance from the vehicle licencing office. Fact is the insurance they sell is worthless and the only use is for you to complete your papers. Secondly, they rely on the ignorance of drivers to sell these fake insurance knowing drivers rarely make claims especially on 3rd party policies. When I renew my vehicle particulars, I only pay for the vehicle license. I go online and buy my 3rd party insurance from reputable insurance companies and print off my policy and attach. It is still the same 5000 naira for the 3rd party and I least I have the peace of mind knowing my 3rd party cover is genuine. Dominique, the 5000 does not go to the government; it goes to the crooks selling the worthless policies. How can you claim on a fake policy? Is there even any number to call in the event of an accident or any outlined process for making a claim?
dude are you for real. I didn't know 'real ' insurance companies sold 3rd party o. na wa for ignorance o. and same price too
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 5:04am On Mar 05, 2016
magicminister:


if its not mandatory, why do policemen always insist on seeing it?
Saying that "its not mandatory" does not make it any less a scam. An insurance policy that you cannot claim is a scam.
A group of people have become trillionaires off this scam!

A government that scams its own people.
tufiakwa!
Wetin you get for reading and comprehension Mr man. abeg re read and modify this funny post of yours
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 5:06am On Mar 05, 2016
dominique:


Then why does FRSC and VIO insist on seeing it and they impound your vehicle if you can't produce it? I believe a good part of the money paid is remitted to government purse. I keep wondering what purpose us this fee supposed to serve especially when it got quadrupled almost overnight?
another child left behind.and if you say Nigerian graduates are substandard na.....
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 5:54am On Mar 05, 2016
mikolo80:
Wetin you get for reading and comprehension Mr man. abeg re read and modify this funny post of yours

make your point or stfu!
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 6:16am On Mar 05, 2016
magicminister:


make your point or stfu!
if you can't read a and comprehend two lines of very simple English and you think stfu is English you're finished. you bastardized vagabond from a worthless progeny
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by magicminister: 6:23am On Mar 05, 2016
mikolo80:
if you can't read a and comprehend two lines of very simple English and you think stfu is English you're finished. you bastardized vagabond from a worthless progeny

loool... with all your English how much you get??
I'm here holidaying in exotic locations and having fun with bad bitchess and basically doing things that is above your pay grade for the next 50 years....and you tryna bring your broke nigga problems my way??... show some respect son!
its 6.30 am in the your ghetto... get to work foo!

nigga please!!!
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by onyeogalu1(m): 6:37am On Mar 05, 2016
AZeD1:

How is it false? I buy car insurance online and not at the licencing office.

You car must be insured but you can buy insurance from anywhere. You don't have to buy at the licencing office.



what benefit do you derive from your third party insurance arrangement? Please enligthen us. Thanks
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by sultaan(m): 6:57am On Mar 05, 2016
chop money
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 11:59pm On Mar 05, 2016
magicminister:


loool... with all your English how much you get??
I'm here holidaying in exotic locations and having fun with bad bitchess and basically doing things that is above your pay grade for the next 50 years....and you tryna bring your broke nigga problems my way??... show some respect son!
its 6.30 am in the your ghetto... get to work foo!

nigga please!!!
all those that hung with bad butches, who dem help. all this your Americana wey you de speak pesin go know say na either yahoo yahoo or drugs you de do (you no even fit sef ) real hustlers don't have time for nairaland
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 12:00am On Mar 06, 2016
magicminister:


make your point or stfu!
chei so being polite De pain pass rugged insult. ehn sorry en. adult education de o. it's not too late
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by shaicollins(m): 6:32pm On Jun 05, 2016
We are please to introduce our company - linkage Assurance PLC. Our company we offer you the following insurance cover as your need might arise . THIRD PARTY WITH LIMITED OWN DAMAGE(THE LINKAGE MOTOR PLAN PLUS ). This insurance policy covers loss of damage to third party Property. Death to third party as result of accident ,or medical expenses as a result of bodily injury from any accident to reasonable limit. The policy also covers own damage to a limit of #250,000.00 excluding fire damage and theft. By own damage ,we mean cost of repair of your own vehicle as a result of accident up to a limit of #250,000.00. The applicable amounts is a flat premium of #7,500.00 for private vehicles.contact me 09039302845
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:24am On Oct 30, 2016
mikolo80:
dude are you for real. I didn't know 'real ' insurance companies sold 3rd party o. na wa for ignorance o. and same price too

All insurance companies sell the 5k third party insurance
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:29am On Oct 30, 2016
Firefire:



Scientific way of generating income to the state...

APC and their many fraudulent ways of reaping the masses off.

so 5k insurance started from APC?
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:37am On Oct 30, 2016
magicminister:


the vio is a government organization isn't it?
such high level scam wouldn't fly without a nod from someone high up!

VIO does not give insurance. You should get your insurance from insurance companies. VIO only acts on Nigerians lack of understanding of things and the fact that Nigerians are always in a hurry. So VIO guys act as agents for the insurance coys and get commission , but sometimes they just give your fake paper that is not from insurance companies.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by bigass(f): 9:40am On Oct 30, 2016
anytexy:


I like this topic. Just yesterday I asked this same question to one of my colleagues. But he too does have any cogent reason for it. Why should law enforcement agency ask for it. What is their business whether you insured ur car or not? I think we the citizens need to rise up and fight for our right. This is fraud by gvt and we are fighting corruption.

It is the law that your car must be insured before you can drive on public roads. And this is so anywhere in the world.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by mikolo80: 4:52pm On Oct 30, 2016
bigass:


All insurance companies sell the 5k third party insurance
good to know
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by kton(m): 3:19pm On Nov 18, 2016
In Nigeria, it is compulsory to have motor insurance before using or keeping a motor vehicle on public roads. However, since most Nigerians buy insurance just to get cleared from law enforcement agents on the roads, they choose to go for third party motor insurance which is a lot cheaper than comprehensive policy.

Consequently, because of the preconceived notions that third party policy is just to beat law enforcement agents, many don’t realize that a third party policy is actually legal and indemnifies the insured from third party losses. Unfortunately, a lot of accidented vehicles which ordinarily would have been repaired by the insurance company are borne by the car owners.

How third party works

For a third party motor policy, the first party is you; the second party is the insurance company while the third party is everyone else.
So third party motor insurance means that if you damage (crash into) someone else’s vehicle, the insurance pays the owner of that vehicle (the third party), or more importantly if you injure someone else with your vehicle, the insurance pays. Third party liability coverage is part of your basic motor policy and covers you for claims made against you by other drivers after a crash.

In other words, under third party insurance you cannot claim for the car you are driving regardless of whether it is a brand new tear rubber. You need a comprehensive cover for that. If you are driving someone else’s car, it won’t pay to have the car you are driving repaired. Only the car you hit.

If you are responsible for a crash, you might also be responsible for paying to repair another vehicle or covering its driver’s medical costs. Third party liability coverage protects you against these claims, covering the cost of damage and injuries sustained in a crash in which you were at fault.

It is worthy of note that the money to pay for damages comes from the premiums. Invariable, if premium has not been paid for a third party motor insurance, there won’t be any compensation whatsoever, in case of accident.
If you go for a third auto party insurance from a registered insurance company, you will be able to save yourself of the cost associated with causing damage to others. Assuming your car injured a pedestrian, the insurance company will pick up the medical bills and thus save you from being torn apart by the relatives of the injured.

However, note that the claim you can make on an auto insurance policy is limited. So, find out the limit to the loss the insurance policy covers before subscribing. For example, an auto insurance policy may only cover loss up to a certain amount say N1,000,000. This means that if the vehicle you damaged is worth more than that, the insurance company will only provide N1,000,000.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by fabienjoe: 8:24pm On Nov 20, 2016
bigass:


It is the law that your car must be insured before you can drive on public roads. And this is so anywhere in the world.

To buttress your point, the fundamental principle is that you should be a responsible driver. No one should incur losses due to your negligence or carelessness. Third party insurance is therefore the minimum allowed for every driver. It's not a government scam. It obtains in every country of the world. Nigerians go for the fake ones because real and functional insurance is not cheap. It is not same price for everyone. Younger and newer drivers tend to be charged more because they are believed to be more likely to crash and make a claim. The longer one drives without making a claim, the cheaper it becomes. However, if you crash your vehicle and make a claim, your subsequent premium rises. This would still happen even if you change your insurer as they can easily access your history through your car registration and driving licence. The cost of insurance for younger drivers can actually be higher than the worth of their car in some cases. The fake ones in Nigeria is nothing to do with the government. The money is shared by the licensing office staff.
Re: What Is The Purpose Of The Vehicle Insurance Fees Imposed By The Government? by dawogbemila: 9:52am On Mar 21, 2017
Hi, I actually render delivery of renewed vehicle papers as a complementary service with third-party and comprehensive insurance. You can know more about me via my page https://davidsthoughts.site/facebook or https://davidsthoughts.site/FBpage2. I work with www.mbaplc.com as a Manager in our retail arm. Thanks in anticipation.
You can reach me on 08038209658 via call or WhatsApp.
Stylz69:

I searched for 3rd party insurance on Google and got a hit. I visited their site and paid using interswitch. I received a pin in my email address which in used to log into the portal online. I filled in my vehicle details...type, model, color, VIN, engine number and all and submitted. Then uploaded my drivers license and vehicle license. That's all. I used gold link insurance company so do a search for them . There are others that provide online insurance so I am not endorsing this particular one.

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