DON'T BE CONFUSED LIKE TUNDE

Often, we see people carry burdens that isn’t theirs. Some pay for stuffs that should have been the responsibility of another. Do you know that the law doesn’t require you to pay for damages to another man’s vehicle or property while driving yours? What value does a third-party insurance offer you?

This and many more are questions Mr Tunde was faced with some months ago. Tunde, like most Nigerians, purchased a third-party insurance on his vehicle all in a bid to escape the harassment from police and road traffic officials.

Tunde is an upwardly mobile young professional in his thirties. He works in Victoria Island, hence must grapple with the habitual daily traffic in that part of the State. On his way to work this fateful day, in his car, he tried reversing but mistakenly hit a brand-new car. Unfortunately for him, the damaged car is a new one and owned by an oil & gas servicing firm.

Tunde came out of his car confused and bewildered as he never expected this accident to happen. But sometimes accidents happen without any prior notice. The company impounded his car and demanded he repairs their damaged car. This again increased Tunde’s anxiety and frustration as his account was already in red.

Reluctantly, he decided to speak with a friend to borrow some funds for this repair. While his friend questioned him on why he needed that amount, he narrated the accident to him. His friend, Bode, who works with an insurance firm had earlier helped him with his car insurance. Bode told Tunde his insurance will cover the damage on the third-party vehicle up to 1 million naira.

Tunde didn’t believe what he just heard. He had always assumed third party insurance is to allow one drive without police harassment. He thought this was one of Bode’s April fool jokes but realized the month was still February. The relief experienced by this news was surreal. Suddenly he need not borrow anymore or worry about the repair of the third-party vehicle.

To cut this story short, Tunde’s insurance company repaired the third-party car and Tunde’s car was released to him, at no cost. Tunde was so grateful to Bode for this enlightenment and for saving him the hassles and worries. He has since scaled up his insurance from third party to comprehensive cover.

The moral of this short story is to highlight the values that a third-party insurance cover provides. Click http://ow.ly/4nrZiT to see the benefits.

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DRIVING TIPS FOR A RAINY DAY

Driving in the rain is never a fun thing but we are forced into driving by our daily obligations to move from one point to another. For most people, driving in the rain can be scary and nerve-racking experience.

To manage the anxiety and stress, we have to give our undivided attention and reduce any possible distractions by turning the radio volume down or turning off our phone to keep our attention fully on the road.

Here are some driving tips for a safe drive on a rainy day;

1. Keep your car clean and maintained

a.    Keep your windows clean and clear

b.    Maintain your headlights

c.    Maintain your tyres

2. Drive with care when it’s raining

a.    Turn on your windshield wipers

b.    Slow down as the road is wet and slippery

c.    Stay focused as visibility is dropping

d.    Turn your headlights on whether it’s day or night

e.    Drive with both hands on the wheel

f.     Maintain a 3-4 second gap between your car and the car in front of you.

g.    Avoid slamming on the brakes, better still just ease of the accelerator instead.

h.    Take turns or enter corner slowly

i.      Do not use cruise control as that can lead to Hydroplaning

j.      Park off the road if necessary

Keep in mind that sometimes the best driving decision you can make is to stay off the road completely until the weather clears.

We wish you safe and comfortable driving during the rains. However for a more comprehensive protection during this season and all year round, check out our variant of motor insurance products: goo.gl/Cvv29y & goo.gl/4bk3th

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Visit our website for more tailor-made insurance covers at: www.consolidatedhallmark.com

WHY YOU SHOULD UPGRADE TO COMPREHENSIVE MOTOR INSURANCE

Mr. Peter came out of his apartment after a heavy storm to observe that his car has been damaged by the fallen trees. He felt bad and worried about how he would get the money to fix the damage.

Mr. Tunde just concluded a deal with a client but on getting to his car parked outside the client’s residence observed that his right side mirror and headlight have been smashed. Engulfed with anger and worry of how he would get it fixed in this recession.

Mrs. Mary came out of her saloon to see that the left door of her car has been dented. She started crying and distressed that she cannot afford the repairs with her current finances.

Looking at all the above scenarios, I believe you can all relate with them and probably might have fallen into one or two category. 

They all have car insurance at least a third party motor insurance as required by law.

Mr. Peter, Mr. Tunde and Mrs. Mary would not have felt bad, gotten angry and cried respectively if they had purchased comprehensive motor insurance. With a comprehensive motor insurance the stress, anger and cry of an unfortunate event will automatically be transferred to their insurer.

Now, let's take a look at some common questions asked about Comprehensive Motor Insurance.

What makes comprehensive motor insurance more stress-relieving and comforting than third party motor insurance?

As already briefly stated above, third party motor insurance only cover the damage done to another person’s car/property. However, comprehensive motor insurance being the highest level of protection would cover the damage to your car and also cover the damage done to another person's car/property.

Why should I upgrade to comprehensive motor insurance?

With comprehensive motor insurance, you can claim from your insurer for all unexpected accidents that are deemed to be your fault. 

It also applies when fault can't be proven, e.g. if you return to your car after shopping to find that someone has hit you and driven off like in the case of Mr. Tunde above.

Without comprehensive insurance cover, you risk having to spend for repairs yourself. Worse still, if your car is written off you'll have to pay for a brand-new car.

A comprehensive policy gives you that added level of protection and peace of mind that you won't necessarily have should you need to pay for expensive repairs.

What does comprehensive insurance really cover?

The cover or benefits offered by comprehensive motor insurance which is a lot more embracing include:

• -       Loss of or damage to your vehicle as a result of accident
• -       Loss or damage to your vehicle resulting from Fire
• -       Loss or damage to your vehicle due to theft
• -       Damage by your vehicle to another up to N1,000,000
• -       Damage to Third Party property by your vehicle up to N1,000,000
• -       Damage to Third parties by your vehicle which caused bodily injury and death is Unlimited
• -        Medical expenses to you or your driver or any occupant of your vehicle to the tune of N10,000
• -       Passenger Liability (N75,000 per person and a maximum of N300,000 per vehicle)
• -       Damage resulting from Riot, Strike and Civil Commotion (SRCC)
• -       Towing Limit up to N10,000 

Where does comprehensive insurance fall short?

Despite its name, comprehensive insurance policy cover in itself is a standard cover that can be enhanced with certain policy extras to meet your needs at additional charges.

Here are a few of those policy extras or add-ons:

Excess Buy Back

Many insurers use the excess proportion to make the vehicle owner conscious to try and prevent losses by making the insured bear part of the claims arising from such accidents. You can buy off this excess at inception of the cover at additional charge.

Courtesy car

Many insurers let you use another car while yours is being repaired, but not all of them. It’s also worth noting that courtesy cars usually aren’t provided if your car is written off. This policy extra is at additional charge.

It’s always best to check the policy details before you buy – don’t assume that you’ll be entitled to all the bells and whistles.

For more inquiries, you can contact us on our  phone - 09056037852
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Also visit our website for more tailor-made insurance coverage at www.consolidatedhallmark.com