Africa has been a place where Insurance is not regarded as important which is why The Benefits Of Having Insurance Cover In Nigeria should be our point of discussion today.
Insurance Cover In Nigeria
Africa has been regarded as a poor region despite the natural resources you can find all across the continent, Nigeria, in particular, is blessed with oil and minerals that can boost the economy to a greater height but it is not been harnessed to its potential.
When it comes to insurance cover Nigerians do not take it seriously, rather they prefer risking life at the expense of gaining nothing in return.
Take, for instance, Tier 3 countries like the United States and the United Kingdom that are been abreast with information and benefits that comes along with insurance policy, if Nigerians knows half of what they knew it would have been better for them.
Recently, there was a reported case of flooding in the southern part of Nigeria, and property worth millions of naira were lost, life was lost, how I wish they have insurance cover.
If this community had gotten Insurance cover before the incident they would have been no loss of valuables and properties and that is more reason these people need to be enlightened about the importance of having insurance cover.
The Benefits Of Having Insurance Cover In Nigeria
The benefits of having insurance cover in Nigeria can not be overemphasized, there are so many benefits but to mention a few about the Insurance policy in Nigeria.
There are more than four thousand insurance companies spread across the country looking for potential customers to insure their life and properties for a better future for them and their families yet the people pretend not to have anything to do with insurance covers, should I call it ignorant?
Here is the list of natural disasters that will benefits if you have insurance cover:
Flood: whenever there is a flood always have it in mind that the insurance company will take care of any damages as a result of the flood, we all knew that flooding is a natural disaster that can not be avoided.
Fire: fire outbreak is another form of natural disaster though unlike flooding this can be avoided and can be caused by human error, nevertheless, the insurance company will still take care of your loss if the fault was not from you as an insurance coverage holder.
Hurricane: Hurricane is a natural disaster that can’t be averted, it can be in form of flooding, heavy winds, or volcanos but anyhow they all cause damage to life and properties and they can be taken care of by the insurance company if you have a policy with them.
Accident: Accident happens in different ways, they can be automobile, aircraft, or sea accident but the big question is are you insured?
If you are insured then there is nothing to worry about but if you are not then you are on the losing side if eventually there is death your family will benefit from your insurance cover, also if it is injury, all expenses will be taken care of by the company.
Car: Insuring your car is one good step in case of theft or accident, if the car is beyond repair the insurance company will buy you a new car but if it is a little damaged they have to fix it for you.
Car insurance is important, in Nigeria, if you buy a car there are always insurance papers among the documents of the car but 70% of the people do not know what it means, they see it as just papers, and they don’t have time to read through it.
Conclusion
These are the few mentioned benefits you get as an insurance coverage holder, I will use this medium to encourage all insurance companies that operate in Nigeria to orient the people about the benefits of having an insurance policy.
Maybe they are not aware that such things do exist cause they are not used to them, so it’s the duty of those that are exposed to the importance of insurance policies to educate them.
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