Third-party and comprehensive car insurance price in Nigeria
NAICOM rates
| Third-party premium set by NAICOM (ECOWAS Brown Card included) | ₦15,000 |
| Third-party property damage limit (TPPD) | ₦3,000,000 |
| Sum insured (value of the vehicle you declare) | ₦8,000,000 |
| Minimum comprehensive premium: 5% of the sum insured, after all rebates and discounts | ₦400,000 |
What next: verify a motor policy on NIID · third-party or comprehensive?
Indicative: the third-party figures are the rates NAICOM fixed from 1 January 2023; 5% is the legal floor for comprehensive cover, not a quote. Each insurer prices comprehensive cover at or above it.
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| Class | Vehicle type | Third-party property damage limit | Third-party premium |
|---|---|---|---|
| Private | Private motor | ₦3,000,000 | ₦15,000 |
| Commercial | Own goods | ₦5,000,000 | ₦20,000 |
| Commercial | Staff bus | ₦3,000,000 | ₦20,000 |
| Commercial | Trucks / general cartage | ₦5,000,000 | ₦100,000 |
| Commercial | Special types | ₦3,000,000 | ₦20,000 |
| Commercial | Tricycle | ₦2,000,000 | ₦5,000 |
| Commercial | Motorcycle | ₦1,000,000 | ₦3,000 |
Source: NAICOM circular NAICOM/DPR/CIR/46/2022, issued under section 7 of the NAICOM Act 1997, effective 1 January 2023: the premiums are "inclusive of Ecowas Brown Card (EBC)", and "comprehensive motor insurance policy premium rate shall not be less than five percent (5%) of the Sum Insured after all rebates/discounts". On 6 March 2025 NAICOM required all insurers to comply with that circular (circular NAICOM/I&R/CIR/60/2025).
After you pay
Since 28 July 2026 every motor policy issued or renewed in Nigeria, third-party or comprehensive, must come with an ECOWAS Brown Card at no extra charge, and its number must be printed on the policy and certificate (NAICOM directive). Check that your certificate is on the industry database: verify motor insurance on NIID.
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Frequently asked questions
How much is third-party insurance for a car in Nigeria?
₦15,000 a year for a private car, under NAICOM's circular of 22 December 2022 (effective 1 January 2023), with third-party property damage cover of up to ₦3 million and the ECOWAS Brown Card included.
How much is comprehensive car insurance in Nigeria?
NAICOM sets a floor: the premium may not be less than 5% of the sum insured after all rebates and discounts. For a car insured for ₦8 million, that is at least ₦400,000 a year. Each insurer sets its own price above the floor.
How much is third-party insurance for a motorcycle or keke?
₦3,000 for a motorcycle (property damage limit ₦1 million) and ₦5,000 for a tricycle (₦2 million), both commercial classes in NAICOM's circular.
Sources
- NAICOM — Circular NAICOM/DPR/CIR/46/2022: new premium rates for motor insurance, effective 1 January 2023 (22 December 2022)
- NAICOM — Circular NAICOM/I&R/CIR/60/2025: mandatory prompt settlement of claims and enforcement of compliance with statutory third-party motor insurance (6 March 2025)
- NAICOM — Directive NAICOM/TD/MCCB/MCP/INS/004: automatic issuance of ECOWAS Brown Cards for all motor insurance policies, section 103 of NIIRA 2025 (28 July 2026)