By Ngozi Onyeakusi

Yes, you can enjoy  your N15,000  third-Party motor insurance policy bought here in Nigeria in other African countries like Ghana, Liberia, Algeria among others.

This is because the revised third-party motor insurance policy  guarantees motorists plying within the ECOWAS region the benefits of third party liability protection under the ECOWAS Brown Card Scheme.

This is automatically obtained on procuring the new third party policy.

The main objective of the scheme is to guarantee to the victims of road accident a prompt and fair compensation of damages caused by non resident motorist from ECOWAS member states visiting their territory.

Benefits Of The Revised Third-Party

The recent National Insurance Commission (NAICOM)’s upward review of the rate from N5,000 to N15,000 has authomatcally and significantly increased the maximum claims limit that is the Third-Party Property Damage(TPPD) for motorists by 200 per cent, from N1million to N3 million.

Meaning that at event of an accident, the new rate offers a third party vehicle’s owner right to claim up to N3million to repair damage done to his vehicle or property.

With the new rate third-Party offers  unlimited payment of medical bills and renders  financial support to beneficiary in case of loss of life when accident occurs

It opens opportunity for motorists to drive within West African region without fear of insurance cover.