Comprehensive policy is the widest form of cover available under motor insurance. Besides liabilities to third parties, loss or damage to the insured vehicle is also covered under motor comprehensive insurance cover.
Comprehensive motor policies are usually arranged in sections to take care of the own damage and liabilities to third parties.
Section I - Covers Accidental damage to the vehicle, theft of the vehicle and any damage to the vehicle as a result of an attempt of theft of the vehicle, Fire to the Vehicle insured and any damage to the vehicle as a result of any effort to extinguish the said fire.
Section II - Covers liability to third parties – any damage caused to third party property whilst the vehicle is being so in used. It also includes injury and death to third parties.
- The limit of Company Liability under damage to third party property is N1,000,000.00
- Liability of Company under Death or injury of third party is unlimited.
Section III - Deals with limits of payments regarding Disabled Vehicles