Every year, many people make new plans for the new year but most do not have insurance plans. In Nigeria, many of our citizens hardly have a clear-cut plan for insurance due to various reasons which could border around wrong perception and religion.
Let me share an experience with you. Sometime in 2019 before the pandemic, I advised a relative to get comprehensive insurance for his SUV, “I don’t need it”, he retorted. He was right until he truly needed it several months later when he rammed into an expensive Mercedes Benz just near his house.
It would cost over three million naira to fix the Mercedes car, so he called me for advice. He was half-lucky for the statutory Third Party Insurance which has a one million naira cover limit. With my advice, the insurance company paid the cover limit. He had to look for how to raise the rest of the money to fix the car and his own car that was also badly damaged.
If he had our Comprehensive Insurance, both his car and the Mercedes Benz would be fixed without spending his hard-earned money.
There are many Nigerians who erroneously think insurance is not real. Ask the few people who enjoy its benefits, you will be shocked.
Information is indeed power. Insuring what matters to you is a wise decision when life happens unannounced. Regrets cannot turn the hands of time when the deed has already been done.
We Nigerians are quite religious. It is a good thing but like the popular saying: “to fail to plan, is to plan to fail”. This is applicable to making plans for unforeseen circumstances that can endanger your future endeavours, especially in the wake of the Pandemic ravaging the world.
This is 2021, it is getting clearer that anything can happen anytime. Join the few who plan for unforeseen situations. Insurance is a shock absorber, do not wait until it is too late.