Mutual Benefits Assurance explains benefits of third-party motor insurance
Mutual Benefits Assurance Plc
Nike Popoola
It is relevant for motorists to safeguard themselves against unexpected financial liabilities on the road by subscribing to at least, the minimum third-party motor insurance.
Mutual Benefits Assurance Plc, one of the underwriters of Third Party Motor Insurance policy, says the cover is designed to provide protection for vehicle owners while also ensuring compliance with statutory insurance requirements in the country.
The company explains that the policy offers cover for liabilities that may arise from damage caused to third-party property as well as death or bodily injury suffered by another person following an accident involving the insured vehicle.
Under the Third Party Only option, the policy protects motorists against claims arising from damage to third-party property and bodily injury or death of a third party. However, it does not cover damage to the insured vehicle or property belonging to the insured or members of the insured’s family.
Mutual Benefits also provides an expanded option known as Third Party, Fire and Theft. In addition to the protection available under the basic third-party cover, this option compensates the insured if the vehicle is damaged by fire or stolen, including cases of attempted theft.
The company notes that the insurance cover begins immediately after the certificate of insurance is issued, subject to policy conditions, and remains valid until midnight on the policy’s expiry date.
The policy provides financial protection of up to N3 million for third-party liabilities, while the Fire and Theft option also offers compensation if a vehicle is destroyed by fire or stolen.
For more information on Mutual Benefits Assurance Plc products, visit any of the nationwide branches, call 2348169042592, or email info@mutualng.com.
