Here's a quick question for you.
Have you ever had issues with your car insurance before? Purchasing a car insurance only to be told that it's fake? While it's disheartening, it happens regularly to some car drivers here in the country. Reasons being that they couldn't verify the insurance companies and some are even yet to verify their car's insurance policy. If you haven't verified the authenticity of your insurance policy, this article pieced here on Naijauto.com will put you through. Just read along.
The Nigerian Insurance Industry Database (NIID) is a project initiated and owned by the Nigerian Insurers Association. It’s an insurance database that records all the genuine vehicles insured by the insurance companies in Nigeria. The NIID is geared towards compliance to maximum standards in the insurance industry and economy at large. Their goal is aimed at protecting the interest of every insurer in the country.
And just like other countries, insurance service tends to be expensive, and getting a valid one here has never been easy as well.
One without expertise can hardly distinguish a genuine and a fake insurance document
The fact is motor insurance is mandatory for every car user and owner in Nigeria. So, it's expected of every driver to purchase motor insurance. Not only that, but it’s also even more important that the document is provided by a genuine insurer. But sadly enough, the high requirements placed on drivers have driven a lot of insurers to give out fake insurance documents. Even to the point, that car drivers are oblivious to the insurance they purchased as being fake.
And this is where NIID comes into play.
The only way you can get to verify the genuineness of the motor insurance you purchased is by checking it on NIID.It's an independent institution, so it can't be manipulated in any way by fake insurance companies. If a vehicle's record is not seen on their database, the vehicle is assumed to not have been insured. In the event of a car accident, the police refers to the NIID list to make their decision. Any vehicle not found on the list, may likely be impounded and the driver penalized.
It's understandable that no one likes being issued a fake document, moreover, if your vehicle isn't registered in NIID, it implies your motor insurance license is illegal.
However, there's good news. You can actually check your car's insurance policy online yourself, to know its status. Confirming the authenticity of the car insurance policy issued to you only takes just few minutes on NIID portal.
NIID provides online checking for various types of insurance policies
How to check your car insurance policy on NIID platform, online
To do this, head over to Nigerian Insurance Industry Database website at https://www.askniid.org/VerifyPolicy.aspx and follow these steps.
Step 1: Select the vehicle policy you want to check. The options there are single or fleet.
You'll see instructions on NIID as well
Step2: Choose how you want to carry out the search, either with policy number or your car's registration number. Any option you decide to use, you enter the number on the search box provided and click on search.
Step 3: Your vehicle's insurance status will be displayed. It's shown with a red ink under the search button.
The details that will be displayed are the car brand, model, color, and the insurer's name. In addition, the expiration date of the document will be shown.
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Every insurance plan is tailored to a consumer's need. Also, insurance companies have different insurance plans car drives can choose from. Drivers are required to check these services before committing to any to avoid unexpected expenses.
Information to this regard can be gotten online or a company's representative.
To evaluate the Summary of Benefits and Coverage (SBC) of the insurance company online, you'll have to own an account with the insurer and then log in with it. After that, you can search for a link to the insurance plan to check their services.
Before you buy any insurance service from an insurance company, endeavor to verify if the company is genuine and can be trusted. The National Insurance Commission (NAICOM) has a complete list of licensed insurance companies in Nigeria. Go to their website for confirmation.
There are many insurers out there and NAICOM is tasked with the responsibility of issuing licenses to insurance companies in Nigeria. Notwithstanding, a lot of insurance companies are still operating illegally so a car driver is likely to become prey to these illegal insurers. The worst scenario can be when a driver with a fake insurance document gets involved in an accident, they aren't protected and may end up being imprisoned or fined. They may also pay for damages from their pocket. So, there's a need to verify the authenticity of any insurance company you want to pitch your tent with.
>>> Get yourself updated with vehicle registration requirements written here on our site.