ENHANCED THIRD PARTY MOTOR INSURANCE POLICY

ENHANCED THIRD PARTY MOTOR INSURANCE POLICY

  • NEM Enhanced Third Party Motor Policy is an initiative of NEM Insurance Plc. designed to provide cover on third party liability with limited benefit on own damage for the insured.
  • The customers will have a full cover for third party liabilities and as well have some benefits for his/her own damage which must be as a result of accident involving third party. This is necessary condition for the insured to have access to the add-ons benefit in the cover.
  • The policy is designed to meet the need of our growing retail customers especially who could not afford the premium rate offering on full comprehensive or Third Party, Fire & Theft option.

Premium

The product comes in three variants based on the use of the Motor:

  • ETP- Type A: Private Car only - N7, 500.00 only
  • ETP- Type B: Private Bus & Pick Up (own by individual or corporate for private use only) – N11,250
  • ETP- Type C: Private Goods Carrying Vehicles (For Insured own goods and not for public use) – N15, 000.00 only

Policy Variants

  • NEM Enhanced Third Party Type A (ETP- Type A)- This option provide cover for vehicle use for private purpose only.
  • NEM Enhanced Third Party Type B (ETP- Type B)- This option provide cover for privately used bus and pick-up by individual or corporate bodies such as company and schools for the purpose of transporting their staff and students only and not for hire or public purposes. The capacity of the vehicle ranges between small passengers – which are constructed or adapted to carry up 18 passengers.
  • NEM Enhanced Third Party Type C (ETP – Type C)- This plan provide cover for goods carrying vehicles privately owned by individual or corporate body for private use in transporting goods related to the insured business or profession only and not for commercial use or hirers. The cover does not extend to the heavy truck vehicles.

Policy Features and Benefits

 

FIXED PREMIUM

Variant

Type A

Type B

Type C

Benefit/Premium

N7,500

N11,250

N15,000

Third party property damage

N1million

N1million

N1million

Third party bodily injury & Death

Unlimited

Unlimited

Unlimited

Accidental (own) damage involving third party

To a limit of N500,000

To a limit of N500,000

To a limit of N500,000

Medical Expenses to Insured/Driver from the Accident

To a limit of N50,000

To a limit of N50,000

To a limit of N50,000

Legal fees & Expenses

To a limit of N50,000

To a limit of N50,000

To a limit of N50,000

Towing of Vehicle (Insured Vehicle only)

To a limit of N10,000

To a limit of N10,000

To a limit of N10,000

 

Nem Insurance Quote

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