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▾Nigeria Microinsurance Premium Calculator — What You Need to Know
Calculate microinsurance premiums in Nigeria. Mobile money-linked insurance for informal sector — hospital cash, personal accident, funeral cover from as low as 🇳🇬. Use this free calculator to get a quick estimate before contacting insurance providers.
Third-party motor insurance in Nigeria is NGN 15,000/year (NAICOM standardized since Jan 2023), covering up to NGN 3M in third-party property damage. Major providers include Leadway, AXA Mansard, AIICO, NEM Insurance, and Custodian. Verify your policy at askniid.org or dial *565*11#. The market is regulated by NAICOM (National Insurance Commission), with insurance penetration at 0.5% of GDP.
Disclaimer: These are estimates based on market data and published rates. Actual premiums depend on individual circumstances, insurer assessment, and negotiation. Always get formal quotes from licensed providers.