Cornerstone Insurance Insight: Understanding motor insurance benefits
Cornerstone Insurance Plc
With the enactment of the Nigerian Insurance Industry Reform Act of 2025 (NIIRA 2025), which reinforces the role of insurance as a critical social security tool, Cornerstone Insurance Plc is strengthening efforts to make motor insurance more accessible, affordable, and reliable for Nigerians.
The Managing Director/CEO of Cornerstone Insurance Plc, Stephen Alangbo, emphasized the significance of the reform in enhancing financial protection for citizens.
According to him, “The Nigerian Insurance Industry Reform Act of 2025 (NIIRA 2025) is designed with Nigerians in mind. It recognises insurance as an essential component of social security, providing protection against unforeseen liabilities.”
He explained that Third-Party Motor Insurance remains a fundamental requirement for all vehicle owners, offering financial protection in cases of accidents involving injury to other persons or damage to third-party property.
“With just ₦15,000 annually for Cornerstone’s Third-Party Motor Insurance, motorists can drive with confidence, knowing they are protected from financial liabilities that may arise from unexpected incidents beyond their control,” he added.
Beyond third-party coverage, Cornerstone Insurance also offers Comprehensive Motor Insurance, which provides broader protection. This includes coverage against loss or damage to the insured vehicle due to fire, theft, vandalism, accidental damage, or collision. It also covers third-party property damage and bodily injury resulting from accidents.
The comprehensive policy is designed to suit both private and commercial vehicle owners, ensuring that customers are fully protected from a wide range of risks.
Cornerstone Insurance has also simplified the process of getting insured.
Customers can easily purchase policies by calling 0201 280 6500, visiting the official website, or walking into any Cornerstone branch nationwide. The company is also known for its efficient and prompt claims settlement process, giving customers added confidence and peace of mind.
As Nigeria’s insurance landscape continues to evolve, Cornerstone Insurance remains committed to providing innovative and dependable solutions that help motorists drive with confidence while safeguarding their investments.
