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At A Glance

AIICO Insurance Plc is one of Nigeria's oldest and most established insurers, offering motor cover that spans full comprehensive protection and a tiered range of enhanced third-party plans. AIICO's motor products are built around generous third-party property limits and unlimited bodily injury cover, backed by decades of claims experience and regulation by NAICOM.

Compare Plan Benefits

Claims & Support

Making a motor claim with AIICO is straightforward. Notify AIICO as soon as possible after an accident, theft, or fire incident, and provide the supporting documents requested. For comprehensive and enhanced third-party policies, repairs and own-damage claims are subject to the policy excess stated in your schedule. Towing support is included on most plans up to the stated limit.

How to Make a Claim

Report the incident to AIICO promptly and obtain a claim form
Provide your policy details, a police report where applicable, and photographs of the damage
For third-party claims, supply the third party's details and any supporting documentation
For theft or fire, submit a police report and any proof of ownership requested
Pay any applicable policy excess on own-damage and third-party property claims
Contact AIICO customer support for pre-authorisation of major repairs or claim queries

Aiico Plans

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1.

AIICO Private Motor Comprehensive (5% of car value per year): Full cover including theft, fire, and own accidental damage. Third-party property damage is covered up to ₦3 million with third-party bodily injury included. Medical refund is up to ₦100,000 and loss of personal effects up to ₦50,000. Loss of car accessories on theft, riot, strike and civil commotion, and excess buy back are included. Towing is covered up to ₦50,000. Flood extension is available for an additional charge of 0.5% of the vehicle value. Tracker installation is free for sum insured above ₦6 million. Authorised repair limit and refund for hired vehicle are not covered.
2.

AIICO Third Party (₦15,000 private motor, ₦20,000 buses, ₦100,000 trucks per year) : The basic statutory cover. Third-party property damage up to ₦3 million and unlimited third-party bodily injury.
3.

AIICO Enhanced Third Party Silver (₦30,000 per year) : Third-party property damage ₦3 million and unlimited third-party bodily injury and death. Own damage and windshield damage to the insured vehicle up to ₦500,000, emergency medical expenses up to ₦50,000, legal fees up to ₦50,000, towing of ₦15,000 intracity and ₦20,000 intercity, fire peril up to ₦300,000, and burglary or theft up to ₦500,000. Own damage excess is ₦20,000 flat.
4.

AIICO Enhanced Third Party Gold (₦45,000 per year) : Third-party property damage ₦3 million and unlimited third-party bodily injury and death. Own and windshield damage up to ₦750,000, emergency medical up to ₦75,000, legal fees up to ₦75,000, towing of ₦20,000 intracity and ₦30,000 intercity, fire peril up to ₦400,000, and burglary or theft up to ₦750,000. Own damage excess is ₦15,000 flat.
5.

AIICO Enhanced Third Party Diamond (₦60,000 per year) : Third-party property damage ₦3 million and unlimited third-party bodily injury and death. Own and windshield damage up to ₦1,000,000, emergency medical up to ₦100,000, legal fees up to ₦100,000, towing of ₦25,000 intracity and ₦40,000 intercity, fire peril up to ₦500,000, and burglary or theft up to ₦1,000,000. Policy excess is ₦10,000 flat.

Who Should Consider This

1.

Drivers who want statutory cover with extras:: The Enhanced Third Party range gives drivers the legal minimum plus own-damage, fire, theft, and towing benefits at a flat annual premium, which sits between basic third-party and full comprehensive cover.
2.

Owners of higher-value vehicles: : The Private Motor Comprehensive plan, with free tracker installation above ₦6 million sum insured, suits owners who want complete protection for a more valuable car.
3.

Cost-conscious motorists: : The basic AIICO Third Party plan meets the legal requirement at ₦15,000 for private cars, making it a practical entry point for those on a tight budget.
4.

Commercial vehicle operators: : Flat third-party premiums for buses and trucks make AIICO a clear option for operators who need compliant cover for working vehicles.

nairaCompare Insight

AIICO's strongest motor offering is the structure of its Enhanced Third Party range. The three tiers, Silver, Gold, and Diamond, each add a meaningful step up in own-damage, fire, theft, and medical cover while keeping unlimited third-party bodily injury throughout. For a driver who cannot justify full comprehensive cover but wants more than the bare legal minimum, this graded approach makes it easy to match the premium to the level of protection you actually need.

For owners of newer or higher-value vehicles, the Private Motor Comprehensive plan is the more sensible choice, particularly because tracker installation is free once the sum insured passes ₦6 million. Compare AIICO's comprehensive limits and excess terms against similarly priced plans from Leadway, AXA Mansard, and Cornerstone on nairaCompare before deciding.

About AIICO Insurance Plc

AIICO Insurance Plc is one of Nigeria's oldest and most capitalised insurance groups, founded in 1963 as a Nigerian agency of the American Life Insurance Company and listed on the Nigerian Exchange Group in 1990. The company underwrites life and general insurance, including motor, and is regulated by NAICOM. AIICO operates through subsidiaries including AIICO Capital and AIICO Multishield and is consistently ranked among the largest insurers in Nigeria by premium income.

CONTACT ADDRESS Plot PC 12, Churchgate Street, Victoria Island, Lagos

WEBSITE www.aiicoplc.com

PHONE NUMBER 07067453830

EMAIL ADDRESS aiicontact@aiicoplc.com

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