Best Car Insurance Policies in Nigeria (2026 Ranking)

If you're searching for the best car insurance in Nigeria—whether you want comprehensive car insurance, need affordable car insurance options, or want car insurance quotes in Nigeria before renewing—this 2026 ranking breaks down the top policies offering the best mix of coverage, price, claims support, and digital experience.

You’ll also learn how much comprehensive car insurance costs in Nigeria, how much third-party insurance costs, and how to verify your car insurance policy number online free to avoid fake policies.

This ranking compares six of the strongest insurers in Nigeria:

Leadway, AIICO, Custodian, Coronation, NEM, and emPLE.

We evaluated each one based on coverage, value for money, flexibility, reputation, and digital ease. The aim is balanced and data-driven, while also helping you make smarter choices by comparing quotes on nairaCompare before buying.

How We Ranked These Car Insurance Policies

For this 2026 ranking of the best car insurance in Nigeria, we evaluated each insurer based on the factors that matter most to drivers, comparing comprehensive car insurance, affordable car insurance, and car insurance quotes:

1. Coverage breadth – what risks are covered (accident, fire, theft, flood, vandalism, natural disasters, third-party injury/property).

2. Third-party liability limits – especially property damage limits, which matter in serious accidents.

3. Extras and add-ons – towing, medical expenses, tracking device, flexible third-party enhancements, etc.

4. Digital experience – ability to get quotes/buy online and manage policies digitally.

5. Financial strength & reputation – based on market data and recent public information (turnover, assets, awards).

   Note: This is an editorial, feature-based ranking for 2026, not investment advice. Exact premiums depend on your car, location, and risk profile.

2026 Ranking: Best Car Insurance Policies in Nigeria

1. Leadway – Comprehensive Auto Insurance

2. AIICO – Comprehensive Auto Insurance

3. Custodian – Comprehensive Motor Insurance

4. Coronation – Moov Prestige Comprehensive

5. NEM – Comprehensive Motor Insurance / Enhanced Third-Party

6. emPLE – Comprehensive & Flexi Motor Insurance

Below is a breakdown of why each insurer ranks where it does:

1. Leadway – Comprehensive Auto Insurance (Rank #1)

Leadway’s comprehensive auto insurance remains one of the most balanced offerings in the market in 2026 – combining strong coverage, useful extras, and a powerful digital presence for Nigerians comparing car insurance online.

Key Features

• Covers loss or damage to your vehicle from theft, fire, flood, vandalism, and other accidental damage.

• Third-party property damage cover up to ₦3,000,000. 

• Accidental total and permanent disability benefit for the insured up to ₦1,000,000.

• Towing covers up to ₦100,000 from the scene of an accident. 

• Premiums are typically around 5% of the vehicle value, in line with NAICOM guidelines. 

Why It Ranks #1

• Very broad standard coverage (including flood, which is key in Nigerian cities). 

• Strong financial strength and market leadership in assets. 

• Good digital tools for quotes, comparison, and education (auto insurance portal, blogs, FAQs).

• A reliable “set-and-forget” option for drivers looking for full coverage car insurance.

Best For:

Drivers who want dependable all-round protection without complex add-ons.

2. AIICO – Comprehensive Auto Insurance (Rank #2)

AIICO shines because of its value-added benefits—especially medical cover and free tracking for higher-value vehicles.

Key Features

• Covers accidental damage, fire, and theft, plus third-party liability.

• Third-party liability (property damage and injury) up to ₦3,000,000. 

• Medical expenses are covered for you and your passengers up to ₦100,000. 

• Free vehicle tracking for cars worth ₦6 million and above, adding security and recovery support. 

• Premiums typically range from around 5% of the car’s value.

Why It Ranks #2

• Strong combination of medical cover + free tracking for higher-value cars.

• AIICO is consistently in the top tier of Nigerian insurers by gross premium income and assets, with recent awards for outstanding performance. 

• A great option for drivers looking for affordable car insurance with added passenger protection.

  Best For:

  Owners of higher-value cars or families concerned about passenger safety.

3. Custodian – Comprehensive Motor Insurance (Rank #3)

Custodian’s comprehensive motor policy is very competitive, especially for those who care about higher third-party limits.

Key Features

• Covers loss or damage to your vehicle as a result of an accident, theft, or fire. 

• Third-party property damage cover:

  • ₦3,000,000 for private vehicles

  • ₦5,000,000 for commercial vehicles – one of the higher limits on this list. 

• Covers death or bodily injury to third parties. 

Why It Ranks #3

• Particularly attractive for commercial vehicle owners or anyone worried about the financial impact of damaging an expensive third-party vehicle.

• Backed by a top-tier insurer by turnover and market presence. 

If you run a small fleet, ride-hailing car, or business vehicle, Custodian’s higher third-party property limit is a strong plus.

Best For:
Bolt/Uber drivers, corporate fleets, logistics, and cars in heavy-use environments.

4. Coronation – Moov Prestige Car Insurance (Rank #4)

Coronation’s Moov Prestige private comprehensive plan is designed as a more premium offering with useful add-ons.

Key Features

• Covers damage to your own car due to accident, theft or fire.

• Covers third-party damages for which you are legally liable. 

• Option to add excess buy-back and increased third-party limits.

• Coronation emphasises fast claims settlement, with public communication of claims being paid within around 48 hours in some cases. 

Why It Ranks #4

• A good fit for drivers who want a premium feel, stronger claims focus, and the ability to customise their cover.

• Coronation is also in the top 10 insurers by turnover, which supports its credibility. 

If you’re looking for claims responsiveness and tailored options, Coronation’s Moov Prestige is a solid contender.

Best For:
Drivers who prioritise claims experience and want something more customised.

5. NEM – Comprehensive Motor Insurance & Enhanced Third-Party (Rank #5)

NEM offers a strong traditional comprehensive policy plus an enhanced third-party option, which is good for budget-conscious drivers.

Key Features

Comprehensive Motor Insurance

• Covers loss or damage to your vehicle from fire, theft, vandalism, accidental damage, and collision. 

• Includes third-party liabilities for death, bodily injury, and property damage. 

Enhanced Third-Party Motor Insurance

• Third-party liability plus limited own-damage cover when an accident involves a third party – a step above basic third-party. 

Why It Ranks #5

• Good flexibility across private and commercial vehicle use, with options for those who can’t afford full comprehensive.

• NEM is a well-established insurer, also ranked among the bigger players by turnover.

• Good middle ground between cheap third-party and expensive comprehensive

Best For:
Drivers who want something affordable but still want protection for their own car.

6. emPLE – Comprehensive & Flexi Motor Insurance (Rank #6)

emPLE offers modern, insurtech-style plans with flexible tiers, making it great for younger drivers or budget-conscious motorists comparing affordable car insurance options.

Key Features

Comprehensive Motor Insurance

• Covers accidental damage, theft, vandalism, natural disasters (like floods/storms), and fire. 

• Designed as a modern, full-cover policy for private vehicles.

Flexi Motor (Third-Party Family) 

• Third-Party – basic legal requirement.

• Flexi Basic – third-party plus own-damage protection for your vehicle.

• Flexi Standard – third-party plus extended own-damage, fire, and theft cover.

Why It Ranks #6 (Still a Strong Option)

• Very innovative tiered structure, making it attractive if you want something between basic third-party and full comprehensive.

• As a comparatively newer brand, it doesn’t yet have the same long track record or scale as Leadway, AIICO, Custodian, NEM, or Coronation – but it’s clearly positioning itself as a customer-centric, flexible alternative. 

For younger drivers, first-time car owners, or gig-economy users watching their budget, emPLE’s Flexi tiers may be very appealing.

Best For:
Budget-conscious drivers, gig workers, students, and first-time car buyers

Quick Comparison: Highlights at a Glance

*Always confirm current limits in your quote before purchase – insurers may adjust limits and premiums over time.

How Much Does Car Insurance Cost in Nigeria (2026)?

1. Comprehensive Car Insurance

Comprehensive insurance in Nigeria usually costs 3%–5% of the vehicle’s value.

For example:

• Car worth ₦5,000,000 → premium around ₦150,000–₦250,000

• Car worth ₦10,000,000 → ₦300,000–₦500,000

Factors affecting cost:

• Car model & year

• Location (Lagos typically has higher rates due to flood risk)

• Driver profile

• Usage (private vs ride-hailing)

• Claims history

2. Third-Party Insurance (TP)

Legally required minimum cover.

Cost:

• ₦5,000 – ₦15,000 (basic TP)

3. Enhanced Third-Party

Adds limited own-damage protection.

Cost:

• ₦15,000 – ₦35,000

How to Verify Your Car Insurance Online 

Avoid fake insurance. Always verify.

Steps to Verify Your Policy (Free):

1. Visit the NIID verification portal

2. Enter your policy number or vehicle plate number

3. View your insurance status instantly

If your policy is not on NIID, it is not valid.

How to Choose the Best Car Insurance Policy for You

Instead of just going with the “number 1” on a list, think about:

1. Car value & age

   • New / financed cars → usually comprehensive (Leadway, AIICO, Custodian, Coronation, NEM, emPLE comprehensive).

   • Older cars → may justify enhanced third-party (NEM) or flexi third-party (emPLE).

2. Where you drive & park

   • High-risk flood/theft areas → look for policies explicitly mentioning flood, theft, vandalism (Leadway, NEM, AIICO, emPLE). 

3. How much do you drive?

   • Daily commuters and ride-hailing drivers may be more concerned about higher third-party limits and quicker claims processing (Custodian, Coronation). 

4. Budget vs protection

   • Tight budget → third-party (₦15k range), enhanced TP or flexi tiers (Leadway TP, NEM Enhanced, emPLE Flexi). 

   • Higher budget → full comprehensive with extras like tracking, towing, and medical cover.

5. Digital convenience

   • If you prefer buying and managing policies online, look for insurers with self-service portals and strong online journeys (Leadway, AIICO, Coronation, NEM, and emPLE all promote online access to varying degrees). 

FAQ - Car Insurance 

Q: What is the cheapest car insurance in Nigeria?
The cheapest legal option is third-party insurance at around ₦15,000 per year.

Q: Is comprehensive car insurance worth it in Nigeria?
Yes. With rising accident rates, flooding, and theft risks, comprehensive plans offer valuable peace of mind and better financial protection.

Q: Can I pay my car insurance in installments?
Yes, most insurers allow quarterly, bi-annual, or annual payment schedules.

Final Thoughts

All six insurers in this ranking offer legitimate, regulated motor insurance products – the question isn’t “which is good?” but “which is best for your car, budget,  and risk profile?”

• Choose Leadway or AIICO if you want broad, comprehensive cover with strong extras and large, well-capitalised insurers behind you.

• Look at Custodian or Coronation if you care about higher third-party limits, customisation, and claims responsiveness.

• Consider NEM if you need an enhanced third-party option with a more affordable premium. 

• Explore emPLE if you’re a younger driver, first-time owner, or budget-sensitive motorist who likes flexible tiered cover and a modern brand.

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Drive safe, stay covered.