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Get expert insurance guides and compare top insurance plans in Africa. Learn how to choose the best health, life, auto, and travel insurance for your needs.
Insurance is an important tool for protecting your life, health, property, and business, but selling insurance in Nigeria (and in many African countries) is famously difficult. In this long, in‑depth article, we will explore why insurance is so difficult to sell in Nigeria, what the obstacles are, and what practical solutions can help agents, companies, … Read more
Insurance is one of the tools people use to protect themselves and invest for the future. Yet in many African countries, a large number of people—students, working class folks, small business owners—either distrust insurance or avoid using insurance-based investment plans. Why does this happen? How can we fix that? And when is insurance a good … Read more
What Is Mobile Phone Insurance? Mobile phone insurance is a contract where you (the owner of the phone) pay a fee (called premium) to an insurance company. In return, the insurer promises to help pay to repair, replace, or compensate for your phone if certain bad events happen—like theft, damage, screen breakage, water damage, or … Read more
What “Insurance” Means in USA: Basic Definitions To understand the challenges, first we must know what “insurance” is in the U.S. context. Some things are different from Nigeria. Understanding Insurance in U.S. Terms Premium: the payment you make (often monthly or yearly) so your policy stays alive. Deductible: the amount you pay first before your … Read more
What “Compulsory Insurance” Means in Nigeria Compulsory insurance is a kind of insurance that the law says you must have. Not optional. If you do not have it (when required), you may face penalties like fines, legal trouble, or your business or vehicle might be restricted. It is designed to protect: Third parties (other people … Read more
What “Cheapest States for Insurance” Means When we say “cheapest states for insurance,” we usually mean: Auto / Car insurance – full coverage, liability, collision costs Homeowners insurance – cost to insure house structure, property, risks like fire, storms, natural disasters Sometimes renters insurance, liability insurance, health insurance (though health is very different state by … Read more
Understanding Insurance Basics – What You’re Paying For Before you try to save, it helps a lot to know what the cost is made of. Understanding what makes up insurance premium helps you see where you can cut down. What a Premium Covers When you pay an insurance premium, part of it goes to: Risk … Read more
What Is Insurance? Definition and Basic Concepts Insurance is a way to protect yourself and your things from unexpected bad events. You pay a small amount of money regularly (called a premium) to an insurance company. If something bad happens—like car accident, house fire, illness—the insurance company helps pay some or all of the loss, … Read more
What Is Insurance Fraud? Insurance fraud means any deliberate dishonest behavior with insurance to get money or advantage illegally. It can be done by: Policyholders (you or someone insured) Agents or brokers Insurers themselves The fraud might be trying to get money for damage that didn’t happen, exaggerating losses, submitting fake documents, or using unlicensed … Read more
What Is Fake Insurance / Unlicensed Insurance in Nigeria Fake insurance or unlicensed insurance refers to schemes or operations where: A company, agent, or cooperative claims to sell insurance but is not licensed by the appropriate regulator. The policy or certificate they sell is invalid, meaning the policyholder has no protection if something goes wrong. … Read more
What Does It Mean to Make a “Mistake” with Insurance “Mistakes” in insurance are wrong actions or misunderstandings that cause you to: Pay more than you should Get less coverage than you need Delay claim payments Have claim denied or partly rejected Be involved with fraud or fake policies Mistakes can happen when buying insurance, … Read more
What Does “Insurance Claim” Mean in Nigeria An insurance claim is when you (the policyholder) tell your insurance company: “Something bad happened that my insurance policy covers. Please pay for the damage, loss or cost.” You pay a premium (money regularly) so the insurer agrees that if damage or loss happens (as defined in policy), … Read more
What Is Property Insurance in USA for Foreign Buyers? Property insurance (sometimes called homeowners insurance or hazard insurance) is a policy that protects the physical structure of the house or building you buy, your belongings inside it, and liability risks connected to the property. If you buy property in the USA, insurance helps you if … Read more
What Is Cybersecurity Insurance? Cybersecurity insurance, also called cyber insurance or cyber risk insurance, is a contract between a business and an insurance company. The business (policyholder) pays a fee (premium). In return, if certain bad cyber events happen—like a data breach, ransomware attack, or business interruption because of hacking—the insurer pays some of the … Read more
What Insurance Means for Truck Drivers in USA Insurance is a contract with an insurance company. You pay a fee (called a premium) regularly (monthly or annual). In return, the insurer promises to help cover certain costs if something bad happens—like accidents, damage, liability, theft, or injury. For truck drivers, this includes more risks because … Read more
What Is Travel Medical Insurance? Travel medical insurance is a special kind of insurance that helps pay for health care costs when you travel to another country. If something bad happens — like getting sick, having an accident, needing urgent medical treatment — this insurance can cover those medical bills or reduce how much you … Read more
What Is Pet Insurance? Pet insurance is a type of health insurance for your pet. Just like humans have health insurance to help pay for medical bills, pets can also have insurance that helps cover vet bills, surgeries, and treatments. Who Needs Pet Insurance? If you own a dog, cat, or even exotic pets like … Read more
What Does “Insurance for Freelancers and Gig Workers” Mean? A freelancer is someone who works for different people or companies but is not their permanent employee. A gig worker offers services on a temporary or one-off basis (gigs), like driving, delivering, graphic design, writing, coding, translation. Many Nigerians now work as freelancers or gig workers … Read more
What Is Agricultural Insurance & Key Concepts for Farmers Agricultural insurance (also called agric insurance or farm insurance) is a contract where a farmer (insured) pays a fee (premium) to an insurance company (insurer) to protect against certain losses. If something bad happens that is covered by the policy (insured peril), the insurer will pay … Read more
Aviation insurance is a special kind of insurance made for airplanes, airports, people, and businesses that deal with flying. In Nigeria, as air travel, cargo flights, charter services, and aircraft leasing grow, knowing how aviation insurance works is very important. This article explains aviation insurance in Nigeria clearly. You will learn what it is, how … Read more
What Is Marine Insurance? Marine insurance is a contract (a promise) between two parties: the insurer (the company that provides protection) and the insured (person or company who pays for it). The promise is: if there’s a loss related to sea transport (or related things like loading, unloading, port risks), then the insurer will pay … Read more
What are Online Insurance Brokers in Nigeria? An insurance broker is a person or firm that helps you choose insurance policies by comparing different insurers, explaining policies, helping with claims, etc. An online insurance broker does much of that work via the internet: websites, apps, digital platforms. They let you compare policies, request quotes, maybe … Read more
Basic Definition: What Insurance Covers in USA vs Nigeria To compare costs, first understand what Americans and Nigerians expect from insurance, and what insurance typically covers in both places. What Americans Expect from Insurance Health insurance in USA often includes hospitalisation, doctor visits, specialist care, advanced diagnostics (like MRIs, CT scans), very advanced treatments, prescription … Read more
What is Life Insurance? Life insurance is a contract between an individual (you) and an insurance company. You pay regular amounts (premiums). If you die during the time covered by the policy (or sometimes earlier or when certain conditions are met), then your nominated beneficiaries (family, children, spouse, etc.) receive a lump‑sum payment called the … Read more
Definition: What Is Insurance & How It Works What Is Insurance in Simple Terms Insurance is like paying a little now so you don’t pay a lot later. You give small amounts of money regularly (called premium) to an insurance company. In return, the insurance company promises to help you or your family if certain … Read more
What is Insurance & Why Terms Matter Before diving into vocabulary, here is a quick reminder: Insurance is a contract. You (the insured/policyholder) pay money (called premium) to a company (the insurer). If something bad happens (insured event), the company helps you pay part or all of the cost, depending on your policy. Insurance policies … Read more
What “top” means in insurance company ranking Before naming the companies, it’s good to understand what we mean by “top”. Different ways to measure include: Premiums received: how much money customers paid in total for policies. More premiums = more customers and trust. Shareholders’ funds / equity / net assets: how strong financially the company … Read more
What does “best insurance company” mean? Key qualities Before you decide, you need to know what “best” means. It is not always the cheapest, or the one with the loudest adverts. Here are main qualities that make an insurance company good: Legally licensed: Recognized by regulator (NAICOM, NHIA if health). Financially stable: Enough money (reserves), … Read more
What is Insurance System? Definition & Key Concepts Before comparing, we need to agree what an insurance system is. An insurance system means the full setup of insurance in a country: how companies are regulated, how policies are made, who buys insurance, what types are common (health, life, motor, property etc.), how claims are processed, … Read more
What is Insurance, Quickly Reminded Before talking about types, let us remind what insurance is. Insurance is a financial agreement: you (the insured) pay a small amount regularly (called premium), and in return, the insurance company agrees to help you if certain bad events happen. If the event you insured against happens (accident, sickness, fire, … Read more