Unitrust Insurance Company Limited has launched what the insurer calls a game changer in third-party motor insurance called UNIRIDE, a redefined motor insurance solution tailored specifically for private vehicle owners. This innovative product is designed to bridge the gap between third-party and comprehensive motor insurance, providing value, flexibility, and extended coverage to Nigerian motorists.
UNIRIDE the statement cleared is a strategic enhancement of the traditional third-party insurance model, offering motorists not just legal compliance, but more protection at an affordable cost. With three plans – Silver, Gold, and Platinum – policyholders can now access cover for third-party liabilities as well as limited protection for their own vehicles.
“UNIRIDE is our answer to the needs of millions of Nigerians who desire more than the bare minimum, but cannot afford full comprehensive insurance,” said Adedayo Arowojolu
The key highlights are, third party property damage up to ₦3 million; death/bodily injury, unlimited but reasonable compensation. SILVER – ₦25,000/year; includes ₦500,000 cover for accidental and fire damage, GOLD – ₦35,000/year; includes ₦750,000 cover for accidental and fire damage, while PLATINUM – ₦45,000/year; includes ₦1,000,000 cover + ₦10,000/day “Loss of Use” relief for 2 days, up to twice annually
The company stated that the product is not just an insurance product; it’s a vehicle for transformation in the Nigerian motor insurance sector and designed in compliance with NAICOM regulations. The product also comes with: 48-hour claims turnaround 24/7 customer support AI-enabled chatbot (UNIS)
Laced with easy digital purchase and renewals Unitrust said its a solution for increased urbanization and growing vehicle ownership in cities like Lagos, Abuja, and Port Harcourt, and the product will drive deeper penetration into underserved segments of the insurance market.
