Nigeria’s motor insurance space is getting a major upgrade as Coronation Insurance Plc rolls out MotorMax, a new and innovative vehicle insurance product designed to give motorists more protection—without breaking the bank.
For years, many Nigerian drivers have relied solely on third-party insurance, mainly because it’s compulsory. But while it keeps you compliant with the law, it often leaves your own vehicle exposed. MotorMax steps in to change that narrative by offering affordable, flexible coverage that goes beyond the basics.
Why MotorMax Matters
MotorMax is built for the everyday Nigerian driver—those who want better protection but are discouraged by the high cost of comprehensive insurance.
With this new offering, Coronation Insurance is bridging the gap between:
- Basic third-party policies
- Expensive comprehensive insurance plans
The result? More protection, less financial stress.
MotorMax Plans: Bronze, Silver & Gold
To cater to different budgets and needs, MotorMax comes in three thoughtfully designed tiers:
🟤 Bronze Plan – Budget-Friendly Protection
- Annual premium: ₦25,000
- Vehicle repair cover: Up to ₦500,000
- Third-party damage: Up to ₦3 million
- Towing: Up to ₦5,000
- Emergency medical: Up to ₦10,000
Perfect for motorists looking for affordable entry-level coverage with solid benefits.
⚪ Silver Plan – Balanced Coverage
- Annual premium: ₦45,000
- Vehicle repair cover: Up to ₦750,000
- Towing: ₦15,000 (within state), ₦25,000 (inter-state)
- Emergency medical: Up to ₦15,000
A great middle-ground option for drivers who want enhanced protection at a moderate cost.
🟡 Gold Plan – Near-Comprehensive Value
- Annual premium: ₦50,000
- Vehicle repair cover: Up to ₦1 million
- Third-party damage: Up to ₦3 million
- Towing: ₦15,000 (within state), ₦25,000 (inter-state)
- Emergency medical: Up to ₦20,000
This top-tier package offers near-comprehensive coverage at a fraction of traditional costs—ideal for drivers seeking maximum peace of mind.
Driving Insurance Inclusion in Nigeria
According to the Managing Director/CEO of Coronation Insurance Plc, Olamide Olajolo, MotorMax is about rethinking insurance for real-life needs:
“MotorMax represents our commitment to reimagining insurance for the everyday Nigerian… providing a practical, affordable solution that delivers meaningful coverage and peace of mind.”
This move is expected to boost insurance penetration in Nigeria, making quality coverage accessible to more people while reducing out-of-pocket costs during accidents.
A Bold Step for the Future of Insurance
MotorMax isn’t just another product—it’s part of a broader strategy by the Coronation Group to deliver innovative, customer-focused solutions across Africa.
With its:
- Flexible pricing
- Expanded benefits
- Customer-centric design
MotorMax is well-positioned to attract a wide range of Nigerian motorists and reshape the future of motor insurance in the country.