Top 10 Best Car Insurance Companies in Nigeria (2024)

Who are the 10 best car insurance companies in Nigeria 2024? This article will answer this frequently asked question a lot of car owners in the country always ask.

Having a car insurance policy is crucial for all car owners in Nigeria. Not only is it required by law, but it also protects you financially in case of accidents, damage or theft. Choosing the right car insurance company is important to get the coverage you need at a price you can afford.

In 2024, there are over 50 car insurance providers in Nigeria offering various types of auto insurance policies. But how do you determine the best among them that perfectly fit your needs and budget?


This article reviews the top 10 best car insurance companies in Nigeria this 2024 based on premium rates, claim processes and settlement, coverage options, customer satisfaction and financial stability.


Below are the top ten leading car insurance companies in the country.


AXA Mansard is one of the best car insurance companies in Nigeria with presence across the country. It offers comprehensive and third-party vehicle insurance at competitive pricing. AXA Mansard car insurance shines for its seamless claim process, quality customer service and ability to settle claims fast.

Some key benefits you enjoy with AXA Mansard car insurance include discounted premiums when you bundle policies, free towing services and ability to purchase coverage online through their digital channels.


AIICO car insurance provides one of the widest coverage options to choose from in Nigeria. Their comprehensive motor insurance plan protects against own damage, theft and third-party liability. AIICO also offers add-on coverage like political violence and riot extension, windscreen damage and passenger liability cover based on your needs.

What makes AIICO car insurance stand out is the high claim settlement ratio, flexible premium payment plans and ability to get quotes online. The insurer boasts of an expansive garage network spread across Nigeria for seamless repair services through their DrivePlus centers whenever you make a claim.


Leadway car insurance continues to retain its spot among the best in Nigeria mainly for affordability, flexible coverage and outstanding customer experience. Leadway offers both third-party and comprehensive car insurance with add-ons like car tracking devices, fire & theft protection, among others available based on your needs.

One advantage with Leadway is getting the lowest premiums especially for privately used vehicles. Their comprehensive policy also covers car repairs at preferred garages across Nigeria so you don’t have to pay from your own pocket at the time of fixing your insured car.


Third in the list is Coronation Insurance. This car insurance company trumps its peers as the best for management of claims from start to finish. Once you report your claim, be assured of getting regular status updates until the claim is settled. This gives clients peace of mind knowing that their insurer has their back during the difficult claims period.

Besides a seamless claims process, Coronation car insurance also offers unique covers like car theft return cover, battery failure extension, keystone tyre damage compensation and even car hire services if your car gets stolen. Combine an affordable premium with their innovative coverage options makes Coronation a top pick for many car owners seeking protection from all damages.


Old Mutual offers value-packed car insurance policies with coverage options for both private and corporate clients across Nigeria. Despite being a new entrant in the Nigerian market compared to its peers, Old Mutual car insurance continues to give established brands a run for their money.

The fully digital purchase process, innovative mobile app that lets you access services and make claims on-the-go coupled with pocket-friendly pricing makes Old Mutual car insurance a great pick for savvy vehicle owners and companies.


Ensure Insurance prides itself as a general insurer that provides simple, affordable but all-inclusive car insurance coverage to everyday Nigerians. Apart from standard third-party and comprehensive insurance, Ensure also provides add-on plans, additional vehicles cover and even coverage for specialized vehicles at reasonable pricing.

What makes Ensure car insurance truly stand out is their customer service. Reviews indicate you get assisted fast whenever you contact them plus they process claims promptly within 48 hours so you are not stranded long after an accident or vehicle theft incidence occurs.


Sterling car insurance plans provide peace of mind if you operate an expensive car in Nigeria or travel often with your vehicle within the country. Their comprehensive motor insurance policies match premiums to the value of the insured car. Additional protections for car electronics, rims, tinted glasses can be added based on the car model and your exposure to risks.

Sterling Assurance also settles claims fast and includes innovative offerings like ‘Buy Back Salvage Value’ allowing you to retain damaged insured vehicle after getting claim settlement.


Niger Insurance sells affordable car insurance targeting middle-income owners that offer maximum protection at the least premium outlay possible. This strategy has made it among the fastest growing auto insurance providers with presence countrywide.

Beyond compulsory third-party coverage, Niger Insurance offers comprehensive protection against damage, fire, theft and more when driving in Nigeria and across W/A region. Their affordable pricing mixed with strong financial backing makes it the first choice when getting basic legally required insurance plan for your car.


Sunu car insurance is a household name associated with general insurance products. Though new in the auto insurance space, Sunu Assurance motor insurance plans have gained traction fast for pocket-friendly premiums clubbed with technology-driven customer experience.

Sunu car insurance coverage can be purchased via websites, mobile app or directly from affiliated agents. Add-on covers to cater for broken windscreens, medical expenses, and permanent disability from an accident make Sunu car insurance a value-for-money option for vehicle owners in Nigeria.


Last but not the least is CHI Limited. The Continental Heritage Insurance (CHI) limited is a relatively smaller player but makes the list of best care insurance companies for sheer depth of products offered. The fully-owned indigenous firm offers customized auto insurance for individuals and businesses backed by strong financials and technology infrastructure.

CHI car insurance plans feature add-ons like motor personal accident cover, car hire services, daily cash allowance if your car is damaged as well as tracking devices for recovery and even crash rescue services. Though marginally costlier than peers, CHI car insurance offerings combined with great customer service makes it a worthwhile deal.


Choosing the right car insurance company from the lot can be puzzling. We recommend comparing features, coverage exemptions, add-ons, premiums, claim settlement ratios as well as online servicing options before buying motor insurance.

While all companies listed here are great options, identify one aligning closest to your budget and coverage needs for maximum value.

Mfonobong Daniel

I am Daniel, a professional financial blogger, an insurance agent and financial adviser. Join me as I unravel and breakdown the mysteries behind insurance policies in Nigeria.

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