Know Your Insurance Policy Inside‑Out

Insurance plays a vital role in protecting your car, business, home, properties and more. At Linkage Assurance, we offer Motor (including Third-Party Plus), Property, SME, Travel, and Business policies, yet despite this variety, many customers breeze past the details.

Why It Matters to Know What’s in Your Policy

Insurance isn’t just paperwork; it’s protection. At Linkage Assurance, we offer a wide range of covers designed to protect you at every turn:

• Motor Insurance (Third-Party, Third-Party Plus, Comprehensive, Purple Insurance)
• Property & Business Insurance – including Household Items, SME Protector, Citadel Shield
• Specialist Covers – Travel, Marine, Aviation, Oil & Energy

Yet whether you are protecting a family home or a car, reading your policy fully is essential. In Nigeria, only about 1 % of the population holds insurance, and many of this minute number do not know what is actually covered until they need it. This is why, when claims are made, disputes often arise because policyholders misunderstood their benefits or at times, they do not present claim even when they are entitled to it.

Know the Coverage Types You Are Buying

Understanding each product helps you evaluate how effectively the policy matches your needs, and each insurance product serves a different purpose:

Spotlight On Motor Insurance

Let’s focus on one of our most popular policies:

• Third–Party Only: Covers only damage to other vehicles, Injury or Death of Third parties
• Third–Party Plus: Adds own-vehicle repairs, towing, and fire protection upward of ₦500K, N750K and N1m (depending on the variant)
• Comprehensive: Includes all of the above, plus theft, death of a third party, medical support and natural disasters (if so required by the Insured)

Without reviewing your policy, you might think you’re covered but discover too late that you bought only basic protection.

Examples of Unexpected Gaps

Mr. Ajayi** bought Ordinary Third-Party Motor policy after purchasing his first car. He assumed towing was included until he had a flat tire in traffic, called for help, and was told it wasn’t. His roadside bill came to ₦10,000 out of pocket. Had he read his policy closely, he would have known that.

Essential Sections to Read Carefully

1. Schedule of Benefits – This details your coverage and limits. For instance: ₦500K own-damage vs. standard Third-Party ₦0.
2. Conditions & Exclusions – Know the common exclusions, for examples: war, damage by unauthorized drivers, flood, and self-inflicted damage. Nigerian law requires exclusions to be reasonable
3. Excess and Deductibles – This is each and every amount that you pay in every claim. This can come in percentage or monetary amount, for example 10% or N50,000.00 (which ever is greater). This means that for a claim of N200K, the insurance company will look at the higher of 10% of N200k or N50k as the amount you will bear. This will be deducted from your claim as excess/deductible. In this case, N50k is higher; hence, the insurance company pays N150k and you bear N50k. Please note that the essence of excess is to make the Insured to be cautious.
4. Renewal and Add–On Clauses – Know whether no-claim bonuses carry forward or reset upon renewal

How to Check Your Policy Efficiently

• Ask for a summary: Call or WhatsApp your agent to get a simplified benefit list.
• Use the online portal: View your policy anytime without paperwork clutter.
• Schedule a 10–15 minutes review: Our agents can walk you through your plan.

Knowing your policy thoroughly means no claim surprises. Take 10 minutes now: read, ask, and understand what’s protected – and what’s not – with Linkage Assurance.