AIICO Insurance — review & details

In Car insurance · By the Rateweb editorial team · How we rate · Details checked 18 Jul 2026

One of Nigeria's largest insurers by premium, with a long track record and a solid reputation for paying claims — a dependable all-rounder for motor cover.

AIICO Insurance

One of Nigeria's largest insurers by premium, with a long track record and a solid reputation for paying claims — a dependable all-rounder for motor cover.
★★★★☆
4.0/5 · How we rate
NAICOM-licensed
Regulator
Among the largest (₦156bn premiums)
Size
Reliable claims
Reputation
₦15,000/yr (statutory)
Third Party
~3–5% of car value
Comprehensive
Dependable all-rounder
Best For
Pros
  • Large, long-established insurer
  • Solid claims reputation
  • Full motor product range
Cons
  • Not a motor specialist like NEM
  • Digital less slick than AXA Mansard
Fees, eligibility & documents
Fees
Third-party₦15,000/yr (statutory)
Comprehensive~3–5% of car value
SizeAmong the largest
Eligibility
  • A vehicle registered in Nigeria
  • A valid driver's licence
  • Vehicle particulars
Documents needed
  • Vehicle registration / particulars
  • Valid driver's licence
  • Proof of ownership
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How AIICO Insurance compares in car insurance

AIICO Insurance scores 4.0/5 in our car insurance rankings. Our current top pick is Leadway Assurance (4.5/5). Always compare a few before you decide — see the full car insurance comparison.

AIICO Insurance
4.0/5 · this page
 Leadway Assurance
4.5/5
 NEM Insurance
4.3/5
Regulator NAICOM-licensed NAICOM-licensed NAICOM-licensed
Size Among the largest (₦156bn premiums) — —
Reputation Reliable claims — —
Third Party ₦15,000/yr (statutory) ₦15,000/yr (statutory) ₦15,000/yr (statutory)
Comprehensive ~3–5% of car value ~3–5% of car value ~3–5% of car value
Best For Dependable all-rounder Reliable claims Motor cover
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Details last checked: July 2026

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