Insight

• Ikiodiete George
• 4 Min Read

Top 5 Best-Rated Car Insurance Providers In Nigeria You Can Trust – Plans, Costs & Coverage Tips (2025 Guide)

In Nigeria today, driving without car insurance is like walking on a tightrope with no safety net. From reckless danfo drivers to potholes and “area boys,” your car is always at risk. Whether it’s a minor scratch or a major accident, having the right car insurance can save you thousands of naira—and a lot of stress.

But not all insurance providers are created equal. Some delay claims, others frustrate you with paperwork, and a few just vanish when you need them most.

That’s why in this 2025 guide, we bring you the top 5 most trusted and best-rated car insurance companies in Nigeria—those that Nigerians actually use and recommend.

Quick Overview: Top 5 Car Insurance Providers in Nigeria (2025)

1. Leadway Assurance

Leadway Assurance tops the list as Nigeria’s most reliable car insurance provider. Whether you’re insuring a Toyota Corolla or a Benz, they’ve got you covered with comprehensive, third-party, and hybrid plans.

Key Car Insurance Features:

• Third-Party Only (TPO)
• Comprehensive Car Insurance (covers theft, accident, damage, fire)
• Personal Accident Cover
• Optional add-ons like towing and breakdown

Cost Estimate:

• Third-party: From ₦15,000/year
• Comprehensive: Depends on car value (usually 3–5% of car value)

Why Choose Leadway?

They have one of the fastest claims processes in Nigeria. Many customers say they get paid within 5–7 working days of submitting all documents.

Head Office: Iponri, Lagos
Website: leadway.com

2. AXA Mansard Insurance

AXA Mansard’s AutoFlex plan gives car owners the flexibility to choose what works for them. They’re also well-rated for digital claims processing.

Car Insurance Options:

• AutoFlex Comprehensive Plan (with 3 tiers)
• Third-Party Basic
• Fire & Theft Cover
• 24/7 Emergency Roadside Support

Cost Estimate:

• Third-party: From ₦12,000/year
• AutoFlex: From ₦40,000 (Tier 1) to ₦100,000+ for luxury vehicles

Unique Perks:

• Claim via mobile app or WhatsApp
• Partnered garages across major cities
• Free towing services on select plans

Best For: Busy professionals who want digital service

Head Office: Victoria Island, Lagos
Website: https://www.axamansard.com/

3. Custodian & Allied Insurance

Custodian Insurance gives car owners five detailed plan options (Plan A to E) based on the value and age of the vehicle. It’s ideal if you want control over your coverage and premium.

Plans Include:

• Custodian Auto Plan A: Full comprehensive
• Plan B: Comprehensive with excess
• Plan C to E: Basic protection or third-party only

Price Range:

• From ₦10,000/year for third-party
• Premiums for Plan A: From ₦35,000 depending on car

What Stands Out:

• Claims assistance hotline
• Online calculator to estimate premiums
• Discounts for fleet and corporate clients

Best For: Fleet owners, Uber/Bolt drivers, and cautious drivers

Head Office: Ikoyi, Lagos
Website: custodianplc.com

4. AIICO Insurance

AIICO is one of the oldest players in Nigeria’s insurance market, offering comprehensive coverage with the extra benefit of roadside assistance and extended vehicle protection.

Coverage Types:

• AIICO Auto Comprehensive Insurance
• Third-Party Motor Insurance
• Optional Fire, Theft & Towing

Premium Estimate:

• From ₦15,000 for basic third-party
• Comprehensive: Typically 3–5% of vehicle market value

Benefits:

• 24-hour customer support
• Free vehicle inspection before policy starts
• Fast payout when all documents are complete

Best For: Mature car owners and retirees

Head Office: Victoria Island, Lagos
Website: aiicoplc.com

5. Cornerstone Insurance Plc

Cornerstone is fully digital, allowing you to sign up, pay premiums, and make claims online without visiting an office. Their Third-Party Fire & Theft (TPFT) plan is among the best in the country.

Available Plans:

• Third-Party Only
• Third-Party, Fire & Theft
• Comprehensive with optional extras

Premium:

• From ₦11,000/year
• Comprehensive: Starts from ₦25,000 depending on car model

Why It’s Great:

• Digital onboarding
• Useful for younger car owners and tech-savvy drivers
• Online claims tracking

Best For: Students, remote workers, and online-first users

Head Office: Lagos
Website: cornerstone.com.ng

Comparison Table: Plan Summary by Insurance Company

Tips to Choose the Right Car Insurance in Nigeria

1. Know Your Vehicle’s Market Value:
   This helps you avoid overpaying for comprehensive coverage.
2. Understand the Claim Process:
   Ask your insurer how long it takes and what documents are needed.
3. Check for Hidden Charges:
   Some companies charge extra for optional services like towing.
4. Go Digital When Possible:
   Digital policies make your life easier and faster, especially during emergencies.
5. Look at Reviews:
   What are other Nigerians saying about the company on social media or Google?

Final Thoughts

Car insurance in Nigeria is not just about obeying the law—it’s about protecting your hard-earned investment. Whether you drive a brand new SUV or a faithful old saloon car, there's a policy that fits your needs and budget.

In 2025, the best insurance companies are those that combine speedy claims, affordable rates, and excellent customer service. And the top five on this list deliver exactly that.