Ever heard of travel insurance in Nigeria? I know it is almost unheard of but then it sure exists and it is an important insurance coverage that should not be overlooked.
This post seeks to cover what travel insurance in Nigeria is about, the best travel insurance company 2020, and how much travel insurance costs in Nigeria.
It is quintessential Nigerians are aware of the provisions of travel insurance and why everyone should get one before they embark on their journey either within the shores of Nigeria or overseas.
Without further ado, let’s see what travel insurance is about.
Travel Insurance in Nigeria
You are probably aware of other forms of insurance such as Auto insurance, health insurance, life insurance, and so on. Travel Insurance may look new but it is one of the many insurance policies available to Nigerians.
Travel Insurance is a cover that pays compensation for any loss associated with traveling. Having this kind of insurance policy will cover for perils and events that are susceptible to occurring while on transit.
The kinds of risk that are often associated with traveling include:
Losing valuables or luggage
Delay in flight or cancelation of flight
You can visit a new region and fall sick due to the change in atmospheric conditions. I am often a victim of this occurrence. When I travel to a new place, I often fall sick for a few days.
Imagine you fall sick when you visit a state or country and you have no provision for medical bills and the purchasing of drugs. With a travel insurance cover, you do not have to worry about paying your medical bills when you fall sick while on transit.
Also, losing your luggage or valuables or getting them stolen can be a hard lot to bear. Without your luggage, you may be stranded but when you have travel insurance, you are paid compensation that would cater for any loss you must have incurred.
We all know how airports and flights work around the world. Almost nothing is guaranteed. Your flight may be delayed and minutes to when it is supposed to take off, it may be canceled.
The effect of such can be devastating but some form of cushioning is guaranteed when you have travel insurance in place.
In worst-case scenarios, a person may die while on transit. When death takes place, repatriation to the individual’s country for proper burial is covered by travel insurance.
So long as this insurance policy is in place, paying for medical bills, compensation for stolen or lost luggage, delay and cancelation of flight, and repatriation of a corpse is covered.
Now, having discussed what travel insurance in Nigeria is about, let’s look at travel insurance companies in Nigeria.
Where To Buy Travel Insurance in Nigeria
The following insurance companies in Nigeria offer travel insurance and they are highly recommended. Just in case you are looking for the best travel insurance companies in Nigeria, this list will inform your decision.
Traveling overseas for business, leisure, or pilgrimage, you can get the right travel insurance from Allianz Nigeria.
They provide insurance cover that meets the requirements of Schengen member states and other embassies. Their travel insurance policy comes in Gold, Silver, and Bronze plans.
Allianz travel insurance covers emergency medical expenses, medical evacuation, repatriation of mortal remains, legal assistance, and compensation for delayed trips or stolen baggage.
AIICO Insurance Plc
AIICO Insurance is known to be the best life insurance company in Nigeria. They provide life, health, general, travel insurance, and so on.
Schengen and non-Schengen embassies recognize AIICO travel insurance covers and they cover for emergency medical expenses, evacuation, and repatriation.
Custodian Insurance Plc
From auto to travel to life insurance, Custodian insurance plc provides top-notch insurance coverage.
One interesting thing about Custodian insurance plc is that you can get a swift response when you ask for a callback. This means a representative from Custodian will place a call to you.
AXA Mansard Insurance
A member of the AXA Group, AXA Mansard is a leading provider of health, travel, home, engineering, auto, aviation, and fire insurance.
They have a reach in Europe, North America, Asia Pacific, and some African countries.
Going on a business trip or a vacation, Leadway travel insurance got you covered from risks such as luggage loss, flight cancelation, and corpse repatriation.
Leadway Assurance is one of Nigeria’s foremost insurance companies and this is so because of their ability to pay claims, solid financial reputation, and swift claims resolution.
How Much Does Travel Insurance Cost in Nigeria
The cost of travel insurance in Nigeria varies from company to company and from cover to cover.
Regardless, the average cost of travel insurance in Nigeria is N10,000 per month.
Now you have it. A precise rundown of what travel insurance is about, the best travel insurance companies in Nigeria, and the cost of travel insurance in Nigeria.
We expect this will inform your decision to both get insured when going on a journey and exactly where to go when you need to buy one.