7 Best Auto Insurance Companies in Nigeria


Are you looking for the best auto insurance companies in Nigeria? If that’s why you landed here, I’m going to show you top seven (7) gurus in the car insurance business that you can bank with, without any sad story that touches.

Few weeks ago, I wrote about best insurance firms in Nigeria and it’s now on the first page and third position in Google’s SERPs. If you know what this mean – different queries and more traffic! But one of the queries is “Top Auto insurance company available in Nigeria” and that’s why I’ve decided to create a well researched content about it.

You know, I know my onions and I’m not going to disappoint you with this list.

And please, I am not affiliated to any of these companies or they sponsored a post here but everything here is the mashup of my research about the best auto insurance companies in Nigeria.

But first, let’s go through what is insurance and what the companies does.

What is Auto Insurance?

Auto insurance is a type of insurance done on any automobile product especially cars. It may cover the whole car or some part of it.

This is to keep your automobiles secured and “long-lasting”, even if it’s stolen, burnt or had an accident.

As we delve into these top auto insurance companies in Nigeria, we’ll see the different types of available but trusted companies and why each of them are great.

Before moving on, Read this blog post about the best 10 companies to get insured in Nigeria.

If you’ve considered that, lets move to the main issue;

7 Best Auto Insurance Companies in Nigeria to Trust

  1. Custodian Auto Insurance

Custodian Auto Insurance company in Nigeria offers you the best auto insurance service you can think of.

This insurance company protects your car from events like accident, fire or any other physical damage. Whether it’s a car, trailer, truck, motorcycle or lorry, Custodian Auto Insurance got you covered.

Custodian Auto Insurance offers a comprehensive cover which covers the automobile from fire, theft, accident, or damage to the internals of the vehicle.

They also provide cover for the owner in case of death or injury. The firm also provides a Third Party/ Theft cover; this covers the third party from accidents, theft or accidental damage to the car and its third party.

Note that: Third Party cover is only available for the owner’s property or in case of death or injury.

I think you should check out the reason Custodian made my top 7 auto insurance companies in Nigeria before you doubt their ability and professionalism.

  1. AXA Mansard Auto Insurance

AXA Mansard, also included in the list of the best Insurance firms in Nigeria. They offers good coverage for automobiles of all types. The plan caters for all and sundry, no matter your level of financial buoyancy or not.

The firm breaks down its packages to comprehensive and third party covers.

The comprehensive plans which is further dissected to:


  • Auto Plus
  • Auto Vintage and
  • Auto Classic.

These plans covers both car and its third party.

The plus, vintage and classic varies in price, AXA has something for everyone. The third party package covers all things relating to the third party and its property.

Another reason why they make it up to this list of top auto insurance companies in Nigeria is their additional cool features.

These features include: Free vehicle tracking for cars worth N3 million and above, a courtesy car for 10 days after any event of accident or theft. There’s also free cover for civil commotion, riot and strikes.

Check them out and check if they fit your expectations.

  1. AIICO Auto Insurance

Another top insurance firm to check out here is AIICO Insurance. The company, amongst it numerous insurance plans also offer automobile insurance; both comprehensive and third party insurance.

The comprehensive insurance covers all pertaining to the car, these include cover against accident, vandalism, body injury of the third party, damage of the car’s internal, death and any negative effects on the third party.

It also provides covers for death(s) relating to all parties present in the vehicle in any event of accident.

The third party insurance on the other hand covers all parties in the vehicle in an event of an accident.

AIICO has streamlined it plans for all categories including, private car owners, multiple family owners, taxis, bus owners, delivery vehicles and commercial fleet owners.

And with other benefits you can enjoy from AIICO as one of the best auto insurance companies in Nigeria, I think you should check them out as well.

  1. LeadWay Auto Insurance

LeadWay assurance has great reputation for great insurance plans, among the components of such great reputation is its auto insurance plan.

The LeadWay auto plan provides cover both third party and comprehensive packages, both covers are subdivided to

  • Gold
  • Silver
  • and Platinum package.

These plans are varies in pricing.

The comprehensive plan, just as the name sounds offers a comprehensive cover for all damages to the car and the third party’s property, this may include vandalism, accident, damage to documents, or body injury to all parties at the event of an accident or damage.

With LeadWay “the customer” policy, the firm has added few value added features for the customer’s satisfaction, these are; payment of #30,000 of total towing cost, free tracking for vehicles worth N2,500,000 and above, payment of 1,000,000 for property damage, 100,000 off total cost of medical treatment.

  1. IGI Auto Insurance

Industrial and General Insurance Plc, abbreviated IGI is a composite insurer and one of the best auto insurance companies in Nigeria, with several accreditation from various regulators.

The firm which began around 1992 provides cover for businesses and general insurance and all forms of risks associated with life.

They offer Third Party fire and Theft, Third Party, and Comprehensive package. The Third party, fire and theft covers the third party from events like fire and theft.

On the other hand the comprehensive plan take care of the third party fire and theft, and the third party, with some added benefits which includes; vehicle tracking for cars above 3 million naira, personal cover for the insured and his family.

Some requirements are needed for the insurance of private cars; a valid means of identification, vehicle license, and a report from an engineer (in case of second hand cars).

  1. First Bank of Nigeria Auto Insurance

We all know First as one of the top financial institutions in Nigeria, the reputation they’ve built over the years precedes them. With such great strides, one would be left with no choice but to exercise confidence in its insurance scheme.

FBN auto insurance follow government’s decree in 1945 that all cars must have an auto insurance plans, this is to safeguard the vehicle and the third parties in an event of an accident or other uncertainty.

FBN offers three auto insurance types; the comprehensive or gold plan, the third party fire and theft plan, and the third party only plan.

There some cool perks that comes with using FBN insurance; a free tracking device for vehicle worth N4 million upwards, cover against strike, flood etc. All these and more ranks it as one of the top insurance companies in Nigeria.

  1. Cornerstone Auto Insurance

Last on my list of top auto insurance companies in Nigeria is cornerstone insurance, known for their exceptional service in the insurance business. Despite the position on this list, they still deliver one of the best insurance plans ever.

Plans available are the Enhanced comprehensive plan, and the third party plan, with both offering great cover for various risks and uncertainties.

The third party plan takes care of N1,000,000 off the third party’s property, liability for death and body injury etc.

The Enhanced Comprehensive plan cover all things relating to the third party and its vehicle.

Before getting started, be sure to get, the vehicle’s chassis number, engine number, and vehicle registration number.

Rounding off – Auto insurance Companies in Nigeria

Getting a car isn’t just enough, maintaining it, that’s what matters the most unless you’ve got the funds to keep replacing it monthly. 

Asides maintenance, they’re some uncertainties that are inevitable, accidents, theft are amongst the many events we can’t hide from. 

Getting a good auto insurance firm for your vehicle could be hectic, that’s why I’ve composed this list of best auto insurance companies in Nigeria… 

Do tell me what you think in the comments.

Stephen Gbolagade
Stephen Gbolagadehttps://www.stephengade.com/
Stephen is a Frontend engineer, technical writer, owner and part-time blogger here at Gbolamedia, incoming data scientist, an enthusiastic cynophilist, and a curious introvert. Stephen is currently available for full-time, part-time or contract-base role. Contact him here: on WhatsApp or check him on Linkedin



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