Motor Insurance

Motor Insurance, which is the most common of all the known classes of insurance, is designed to protect the insured for loss of or damage to his vehicle, damage to Third Party property including bodily injury and death to Third Parties caused by accident.
Sonarwa provides Motor Insurance covers which include the following :
Third Party Risk Only Cover
This covers bodily injury including death to Third Parties caused by accidents occurring on public roads. Claimants’ costs and other costs incurred with SONARWA written consent, are also recoverable. Third Party property damage is covered in addition to bodily injury and costs described above.
Third Party property damage limited to N1,000,000 is covered, whilst bodily injury and death are unlimited.
Third Party Fire and Theft Cover
Loss of or damage to the insured vehicle caused by fire and theft is covered in addition to the covers available under the "Third Party Risk only" cover described above.
Comprehensive Cover
This is the widest cover available in motor insurance as it covers loss of or damage to the insured vehicle in addition to the covers available under the two described above.

TYPES OF INSURABLE VEHICLES
Private Cars
These are vehicles used for social, domestic and pleasure purposes
Commercial Vehicles (Taxes, Buses and Hire Cars)
These are vehicles used for carrying fare paying passengers
Commercial Vehicles (Own Goods)
These are vehicles used for carrying commercial goods owned by the insured
Commercial Vehicles (General Cartage)
These are vehicles used for carrying goods belonging to others for hire or reward
Motorcycles
These are two-wheeled auto-bicycles used for social, domestic pleasure or commercial purposes
Motor Trade Vehicles
These are un-registered new vehicles owned by a corporate organization engaged in sales, services and repairs of vehicles

PROCEDURE FOR PRIVATE CAR INSURANCE
• A proposal form must be completed and personally signed, if need be
• The minimum value for any vehicle to be covered comprehensively is N200,000
• An engineer’s report must accompany proposal for second hand vehicles
• Previous claims and insurance history will be considered when assessing proposals
• The proposer is also expected to submit a copy of current vehicle licence

Motorcycle Underwriting
Proposals from corporate bodies who have other businesses with SONARWA will be considered on accommodation basis for Comprehensive and Third Party only covers. Comments made under private car underwriting would also apply here.

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