Linkage Assurance Plc has introduced an enhanced third-party motor insurance package, ‘Third Party Plus,’ offering additional protection beyond the traditional third-party coverage.
The innovative policy, designed to cater to budget-conscious vehicle owners, combines the legally required third-party insurance with own damage protection, ensuring that policyholders are not left stranded in the event of an accident.
Affordable Plans with Comprehensive Benefits.
Unlike the conventional third-party motor insurance policy priced at N15,000, which only covers third-party liabilities, the Linkage Third Party Plus provides extra benefits, including an Own damage coverage starting from N500, 000 to N1,000,000 depending on the variant chosen.
The product is available in four different plans to accommodate various budgets and protection levels:
On-The-Go Policy premium is N30,000, with Own Damage Cover N500,000; Star Policy is sold at N50,000 and Own Damage Cover is N750,000; Diamond – N60,000 premium and Own Damage Cover is N850,000; while Third Party Plus: Platinum goes for N70,000 premium and Own Damage Cover is N1,000,000.
Speaking on Arise TV, Chief Strategy and Product officer at Linkage Assurance Plc, Dr. Imo Okorie Imo, emphasised the rationale behind the launch of the Third Party Plus Insurance product.
“Many Nigerian motorists struggle to maintain comprehensive insurance due to economic constraints. We identified the need for a more affordable plan that provides the mandatory third-party cover while also offering some level of protection for their own vehicle,” he explained.
Dr. Imo noted that the Third Party Plus was developed in response to market demand, ensuring that customers who cannot afford comprehensive insurance are still protected against both third-party liabilities and personal vehicle damages.
He also revealed that the company’s digital transformation efforts ensure customers can now access insurance solutions conveniently without visiting a physical office.
“We discovered that many consumers prefer handling their insurance needs from the comfort of their homes, so we developed a self-service portal where they can easily purchase and manage their policies,” he stated.
