Insurance Services And Plans
Insurance services and plans offer financial protection against risks, providing tailored coverage options
for health, life, property, and more to meet individual or business needs.
Insurance Type
Premium Rate
Coverage Details
Additional Notes
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Motor Insurance (Third-Party)
- ₦15,000 (Annual)
- Covers third-party liability up to ₦3 million
- NAICOM-approved minimum rate
Motor Insurance (Comprehensive)
- Minimum 5% of the car's value
- Covers own damage, theft, fire, and third-party liability
- Varies based on vehicle value
Fire Insurance
- 0.375% of the insured sum
- Covers loss/damage due to fire, lightning, and explosion
- Standard NAICOM rate
Burglary Insurance
- 8% of insured value
- Covers theft or attempted theft involving forced entry
- Based on risk assessment
Professional Indemnity Insurance
- 1% of the insured sum
- Covers legal liability for professional negligence
- Required for professionals like doctors, lawyers, etc.
Group Life Insurance
- 8% of total annual payroll
- Provides life insurance for employees of an organization
- NAICOM-regulated rate
Marine Cargo Insurance
- 0.175% of insured cargo value
- Covers loss/damage to goods in transit via sea or air
- Subject to cargo type and route
Contractors’ All Risk Insurance
- 0.1% of contract value
- Covers construction risks, including damages and liability
- Essential for construction projects
Householders/House Owners Insurance
- 0.1% of property value
- Covers residential buildings and contents against risks
- Includes fire, burglary, and liability
Engineering All Risk Insurance
- 0.1% of insured sum
- Covers machinery, equipment, and engineering projects
- Ideal for industrial and engineering firms
About Us
FMG Nigeria is committed to delivering exceptional solutions in real estate, insurance, and ICT. With innovation and reliability at the core of what we do, we help our clients achieve their goals with unmatched professionalism and dedication