Nigerians Hate Insurance: Only 1.8 Million Out Of 12 Million Vehicles Insured In 2019, Says NIID | Sahara Reporters

The Nigeria Insurers Industry Database has so far captured an estimated 1.8 million vehicle registrations in 2019, out of 12 million automobiles said to ply Nigerian roads.

This indicates a drop in the number of insured vehicles on the country’s not-so-smooth road network. Soji "At times we see people who do not have insurance at all. Then we have some people who really have but they patronize touts or they patronize people who give them fake insurance,” he said.

Because of insurers hardly settle claims. Go and come bring this report and that report until you get tired.

Of course because it's useless, when was the last time an insurance company paid for any damages except for those wealthy few?

That is a lie. Which insurance company is the VIO registering our vehicles with?

Many people don't know what do do with insurance... Those who do, get frustrated when the want to make a claim in the event of an accident. So what is the use?

I don't see any benefit of the third party insurance(₦5k) I was forced to pay every year I change my vehicle particulars.

Is not their fault... the scam in the country is much. From government down to your neighbour Nigerians don't trust themselves. Extortion every where they complain. Show them dat you do not extort them.

Most pple dont knw how it works and have not seen it working. Do more advert, enlighten potential customers and show practical. It will go a long way

Lie, I say lie, Nigerian don't trust insurance companies, they are the most unreliable private institution I have even seen, we by 3rd part, Lass lasss nobody loss

Blood of Jesus is sufficient for us.

Insurance in Nigeria is scam.... Once you call on your Insurance company to fulfill their part of the contract, they'll begin to tell you stories 😏

Its 'HEALTH INSURANCE' or HATE INSURANCE ?

No one likes to pay for insurance anywhere in the world.People pay insurance in efficient countries because it is likely to go to jail 4 driving without insurance. In Nigeria,if a police stops u without insurance, you bribe him with N200.Little things matter

I disagree, there is no registered vehicle that don’t have Insurance 3rd party or what ever it’s called the only problem is the measures you have in place. We all paid VIO, they have 1 small office where they print the cert. we don’t know who that office represent. Chuwa Chuwa

Nigerians do not understand how insurance works, not that they hate it. Try make a claim and see how far you get. You cant claim against accident caused by bad road. Laws compelling insurance are disregarded even by government institutions.

The same thing with Life Assurance 😅😂😂

Third party insurance.. What are they insuring? Smh 🤦🏾‍♂️ all na wash

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