HomeBanking & FinanceBest Car Insurance Companies in Nigeria in 2023

Best Car Insurance Companies in Nigeria in 2023

In this article, you'll discover the best companies to insure cars, business, lives and properties in Nigeria.

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Getting your car insured by the best car insurance companies in Nigeria goes a long way when it comes to catering for damages that happen to your car anytime you have maybe a minor or big car crash.

As a Nigerian who owns or drives a car in Nigeria, it’s important to have your car or cars insured by an insurance company and that will help you sort out damages that happen to your cars. Car crashes or collisions are unprecedented incidents that happen on most Nigerian roads, whether it happens via reckless driving or inexperienced driving, it’s all a car crash.

There are insurance companies that insure your cars here in Nigeria and while they may be hard to know, we’ve decided to list out the best car insurance companies to insure cars in Nigeria in this article you’re reading on NaijaKnowHow.

List of The Best Car Insurance Companies To Insure Cars in Nigeria

When it comes to insuring cars in Nigeria, there are plenty of companies that’ll let you insure your cars and even if you bought the cars online from any of the best car-buying websites, you’ll still be able to get insurance.

1. AIICO Insurance

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best car insurance companies

Getting insured has been made easy by AIICO Insurance PLC, it’s one of the most popular insurance companies in Nigeria that’ll let you get the most vital things of your life insured. AIICO is a company that serves as an asset and pension management company and when it comes to insurance, you can get your cars, life, and travels all insured by AIICO.

With their Flexible Endowment Plan, you can get anything secured and there are little fees you’ll be making every month to meet up with your insurance plan. AIICO serves better when it comes to insurance, their insurance policy is one of the best you’ll get in Nigeria.

2. Cornerstone Insurance

Cornerstone Insurance

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Having been around in Nigeria since 2007, Cornerstone Insurance is one of the known companies that has been getting most cars insured in Nigeria. The company offers one of the best car insurance plans and policies you’ll find in Nigeria, they also insure travel, marine, schools and home.

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Cornerstone Insurance PLC is a big insurance company in Nigeria, they’re trusted by most big commercial banks in Nigeria. If you want to get your cars insured in Nigeria, you can always trust Cornerstone Insurance as one of the best insurance companies to use in Nigeria.

3. AXA Mansard

best car insurance companies

With AXA Mansard, you’ll be able to insure your life, travels, home, cars and even business. For insuring cars with AXA Mansard, there are two insurance plans you can buy on this website, there AutoClassic and AutoGo that has different car insurance add-ons between them. With AutoClassic, you’ll be covered for accidental car damage, fire damage and even theft damage.

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AXA Mansard is a very good company for insuring cars in Nigeria, you’ll get the best insurance plans from them and these plans will cover your car insurance for a whole year and more.

4. Old Mutual Nigeria

Old Mutual Nigeria

Old Mutual Nigeria is one of the newest insurance companies in Nigeria, having started operations in 2013, this company has been providing one of the best insurance services to Nigerians, you can insure your life with them, they offer car insurance services, health insurance and you can also insure your whole family with them.

There are many add-ons to insuring cars with Old Mutual Nigeria, they have good policies and there are no types of vehicles you can’t insure with them. Old Mutual Nigeria does a great job when it comes to car insurance in Nigeria, it’s one of the best companies you can trust in Nigeria.

5. Anchor Insurance

Anchor Insurance

Anchor Insurance isn’t a bad company to get cars insured in Nigeria, it’s a good company and it’s one of the current fastest growing insurance companies in Nigeria, they make car insurance easy for Nigerians but they also cater for other insurance, you can use them for aviation insurance, oil and gas, burglary, housebreaking and so on.

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You’ll get the best insurance policies with Anchor Insurance, they offer two types of car insurance which are Motor Comprehensive Insurance and Third-Party Motor Insurance. It doesn’t matter if you’re using a budget car or a luxury car, both plans fit perfectly as they come with different add-ons, but you can always go for the one that suits your pocket.

6. Nem Insurance PLC

Nem Insurance PLC

Nem Insurance PLC has been operating in Nigeria for a while and it’s one of the oldest insurance companies in Nigeria. With Nem Insurance PLC, you can insure your business, they offer different insurances like Motor Insurance, Goods in Transit, Marine, Travel and also Engineering insurance.

If you’re looking for a good company to insure your cars in Nigeria while going for the best insurance plan that’ll cover all your needs, Nem Insurance PLC is one of the best companies you can trust for insuring cars in Nigeria.

7. Leadway Assurance Company Limited

best car insurance companies

Another insurance company on the list that is one of the best in Nigeria is Leadway Assurance Company Limited, they offer different insurance services, and you can get insurance services like personal insurance, business insurance, auto insurance and so on and for auto insurance, it’s further divided into 4 plans.

The 4 plans under auto insurance include comprehensive, third-party, third-party (auto base), and third-party (scratch card). All plans have special add-ons and you can easily go for the one you think is best for you. Getting cars insured with Leadway Assurance Company Limited isn’t a difficult task and that’s why they’re one of the best car insurance companies in Nigeria to insure cars.


Overall, these are the best car insurance companies in Nigeria. If you want to add some insurance to your cars as a Nigerian to avoid selling your used cars as scraps, the listed companies above are the best you can use and they all have different plans that’ll meet your demands.

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Oladimeji Shadrach
Oladimeji Shadrach
A Computer Software & Hardware Engineer | Content Writer | Blogger | Web Designer | Web Developer. I'm Available for Content Writing Gigs, Website and Blog Creation Jobs As Well.

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