Nigeria Travel Insurance in 2022 – Everything You Need to Know

Are you debating whether or not you should purchase Nigerian travel insurance? Or are you looking for the finest travel insurance for Nigeria?

As a Nigerian and also traveler, I understand how tough it can be to figure out travel insurance. Let’s start with an explanation of what travel insurance is and how it functions.

What Is Travel Insurance and Why Should You Get It?

Travel insurance protects you against the cost and risks of traveling. For individuals traveling locally or internationally, it is a handy form of protection.

According to a survey by insurance company Battleface in 2021, about half of all Americans have been fined for not having travel insurance or have had to pay for things that happened while they were away.

Following the COVID-19 outbreak, 36% of Americans believe they’re more likely to buy travel insurance for international trips, while 34% say the same for domestic ones.

Consumers can obtain travel insurance, sometimes known as traveler’s insurance, from many companies offering tickets or vacation packages. Some travel insurance policies cover damage to personal property, borrowed equipment (like rental cars), and even the cost of paying a ransom if you get into trouble.

Travel insurance, which is frequently provided as a package, can include a variety of coverage options. You can get trip cancellation and interruption insurance, baggage and personal effects insurance, medical expense insurance, accidental death or flight accident insurance, and more types of travel insurance, like these.

Emergency services, such as replacing lost passports, providing financial wire help, and rebooking delayed flights, are frequently covered by insurance policies. Some travel insurance plans, on the other hand, may cover things that are already covered by other companies or cover costs that can be refunded in other ways.

Trip Cancellation or Interruption Insurance is a type of insurance that protects you if your trip is canceled or interrupted.

Trip cancellation insurance, often known as a trip interruption or trip delay insurance, reimburses a traveler for nonrefundable, pre-paid travel expenses. The types of cancellation and interruption reasons that are permissible, as well as the amount of refund that is offered, differ between providers. Illness, death in the immediate family, unexpected business problems, and weather-related problems are some of the most common and acceptable reasons for not going to work.

When you spend more upfront than you’re willing to lose, it’s advantageous to cancel your trip. If you pay $2,000 for a package tour and the cancellation policy specifies that everything but $100 is refundable upon cancellation, your travel insurance will only cover the nonrefundable $100. In addition, a refundable plane ticket does not need to be safeguarded.

Personal Effects and Baggage Insurance

During a journey, luggage and personal effects coverage protect belongings that are lost, stolen, or destroyed. It may also protect you while traveling to and from a specific location. When baggage is lost or damaged due to a carrier’s error, most carriers, such as airlines, refund travelers. The amount of reimbursement, however, may be limited. As a result, covering your baggage and personal effects adds an extra layer of security.

A common travel issue is a danger of losing, stealing, or damaging luggage and personal goods. Many travel insurance policies only cover personal possessions after all other claims have been exhausted. Your homeowners or renters’ insurance may provide coverage outside of your house, and airlines and cruise lines are responsible for baggage loss and damage while in transit. When used for deposits or other trip-related charges, credit cards may also provide automatic coverage for things like delays, baggage, or rental car accidents.

Medical Insurance for the Short-Term and Long-Term

Short-term medical coverage and substantial medical coverage are the two main categories of medical travel insurance policies. Short-term travel insurance can last anywhere from five days to a year, depending on the policy. Major medical coverage is designed for travelers who plan to travel for six months to a year or more.

Medical insurance can assist with medical costs, locating doctors and healthcare facilities, and even locating foreign-language services. Coverage varies by price and provider, as it does with other insurance. Some insurance policies may cover airlift transportation to a medical facility, long stays in foreign hospitals, and medical evacuations for treatment, but it’s important to read the fine print.

The United States government, for example, advises individuals to check with their medical insurance providers before traveling to see if their policies cover them outside of the nation, as the government does not insure citizens or pay for medical bills spent outside of the country. Medical insurance in the United States and Canada, for example, may cover the insured, but not in Europe. In addition, some health insurance companies may require that you get their permission first before you can keep your insurance coverage.

Before buying a policy, read the fine print to see if there are any limitations, such as preexisting medical problems, and don’t assume that the new coverage is the same as the old.

Emergency medical care may be unnecessary. If you get sick or wounded while traveling, most health insurance companies will cover “reasonable and customary” hospital fees, but just a few will cover a medical evacuation.

Unintentional Death and Flight Mishaps Coverage:

Accidental death and flight accident coverage offer compensation to surviving beneficiaries if an accident causes death, disability, or serious harm to the traveler or a family member accompanying the traveler. Flight accident insurance covers accidents and deaths that occur while flying on a commercial airliner. There will be some general exclusions, such as death from a drug overdose, death from illness, and so on.

If you already have a life insurance policy, accidental death coverage may not be required. The benefits of your travel insurance policy may be in addition to those of your life insurance policy, so more money will be left to your loved ones when you die.

Purchasing Travel Insurance

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The cost, exclusions, and coverage of travel insurance will vary by carrier. Before purchasing insurance, the customer should familiarize themselves with all disclosure statements. Single, multiple, and annual travels are all covered. Per-trip coverage safeguards a single journey and is excellent for people who travel regularly. Multi-trip insurance covers multiple trips during a calendar year, although none of them can last longer than 30 days. For frequent travelers, an annual policy is recommended. It offers a year of protection.

Premiums are determined by the type of coverage supplied, the age of the traveler, the destination, and the cost of the trip, in addition to the period of coverage. The cost of a standard per-trip policy ranges from 4% to 10% of the total trip cost. Business travelers, athletes, and expatriates all have specialized insurance riders.

It is also recommended that travelers register their trip arrangements with the State Department via its free travel registration website before departing. If there is a family, state, or national emergency, they can call the nearest embassy or consulate.

Finally on Nigeria Travel Insurance,

Even if you haven’t previously acquired travel insurance in this post-COVID-19 world, you may wish to do so now. Trip cancellation and interruption coverage, baggage and personal effects coverage, medical expense coverage, and accidental death or flight accident coverage are some of the most common types of travel insurance.

Travel Insurance In Nigeria

There are so many different types of travel insurance packages available that it can be tough to figure out which one is best for you. You also don’t want to overpay for Nigeria travel insurance, of course.

To assist you, I’ve created a quick guide that answers the following crucial questions:

• How safe is it to travel through Nigeria?
• Is travel insurance for Nigeria really necessary?
• How should you choose a travel insurance policy for Nigeria?
• Which firms provide the best travel insurance in Nigeria?

Have you run out of time to read the entire guide? It’s all right. A quick rundown of the highlights follows:

Summary and Quick Response

While each scenario is unique and you must make your judgment, the following are the primary points I make in this article:

• Although Nigeria is relatively secure for travel (especially in the places where the majority of travelers are likely to go), there are still hazards that make travel insurance necessary.
• Emergency medical and evacuation coverage were the most critical features I looked for in a Nigeria travel insurance plan.
• Your credit cards, home or health insurance policies, or your company may already provide some limited foreign travel insurance coverage. Check everything.

Update on the Pandemic: In light of recent developments in the world, the need for Nigeria travel insurance is greater than ever. Unfortunately, many insurers have exclusions, making it difficult to purchase travel insurance right now. For a more in-depth look at these issues, I highly recommend reading my Consumer Guide to Coronavirus Travel Insurance.

Do you need to purchase a travel insurance policy for Nigeria quickly? I recommend the following firms:

Using TravelInsurance.com, you can get a quote from hundreds of companies in a matter of seconds. It works like a hotel booking site, with reviews and so on.

World Nomads: This is the firm I chose to insure my trip to Nigeria.

Now that we’ve gotten the fast answer out of the way, let’s go into a more extensive look at whether or not you need Nigeria travel insurance:

Is traveling to Nigeria safe?

Yes, some people might opine “if you stay away from the northern and north-eastern parts of Nigeria”, which most people avoid but a fact is everywhere in Nigeria is safe for every foreigner coming in to explore the beauty of the country. If you take the same precautions you would in any place, you should be fine.

If you’re like most visitors to Nigeria, you’ll only be visiting the major cities such as Lagos and Abuja, or the southern coast. You’ll find Nigeria to be as secure as, if not safer than, many other popular travel destinations on the continent, such as South Africa and Kenya.

There are a few things to keep in mind about Nigerian travel safety:

• You should read the current travel advice from the U.S. State Department and the UK Foreign Office, but be aware that this advice is often overblown for almost every country (not just Nigeria).
• Avoid the country’s north, especially the northeastern area, where extremists and Boko Haram are a problem. Most countries don’t want you to go there.
• Travelers who identify as LGBT should exercise caution because the country is still behind the times in terms of gay rights.

The vast majority of visitors visiting Nigeria had a positive experience in the country. And the most common sort of crime you’ll encounter in Nigeria is petty theft or robbery. Getting into an accident on Nigeria’s wacky roads is arguably your biggest risk.

Still, travel insurance can give you some extra peace of mind, so here’s how it can help you protect yourself on your trip to Nigeria:

Do You Need Travel Insurance in Nigeria?

While I chose to purchase travel insurance for my trip to Nigeria, it is not a no-brainer for everyone (as travel insurance is not mandatory for Nigeria). I mean, I paid a lot of money for insurance coverage that I never used (but I don’t regret purchasing it).

The primary reason you might not need to purchase Nigeria travel insurance is?

If expenses were based on corporate visits where:

• Employer-sponsored travel medical insurance (especially if visiting on a work trip)
• Your home health insurance (though many policies do not cover medical expenses for international travel).

A limited amount of international travel insurance is available through credit cards, home insurance policies, and other types of insurance products.

Furthermore, as I detailed in my piece regarding travel insurance, one issue with most international travel insurance packages is that they come with a slew of extra perks that aren’t worth the money.

Trip delay insurance isn’t always necessary because most airlines and common carriers will cover you nonetheless if your flight is delayed. As long as you don’t get “Cancel for Any Reason” (CFAR) trip cancellation insurance, read the fine print very carefully because “travel cancellation insurance” is usually very limited in what it will cover.

So, what exactly should you be on the lookout for? To find out, go to the following section:

What Should a Good Nigeria Travel Insurance Policy Include?

If the risk you’re insuring occurs, insurance makes sense since it covers a loss that you wouldn’t be able to cover on your own.

Flood and fire insurance are essential since they have the potential to destroy your house. It’s also why extended warranties on kitchen equipment are usually a waste of money because you can afford to replace that microwave if it breaks.

Using the same rationale, I believe that many of the stated benefits of travel insurance aren’t worth the money. Things like lost or delayed luggage protection and trip delay protection don’t appear to be good values because, unless you’re carrying a lot of valuables in your bags, a lost bag or a delayed trip is unlikely to bankrupt you (even if it’s a cheap flight, the airline will probably cover you).

On the other hand, here are some risks that I believe are well worth ensuring:

• Medical bills in an emergency
• Medical evacuation is necessary for an emergency.
• Return of skeletal remains
• insurance for car rentals.

This is a risk that could result in significant losses if it occurs, so I believe it is prudent to purchase insurance to protect against it. In Nigeria, where the healthcare system is still developing, this is particularly true for medical bills and evacuation.

Which firms provide the best travel insurance in Nigeria?

I’ll walk you through some of the best travel insurance companies to get you up to speed. The goal is to make your travel safe and comfortable.

Being a Nigerian has a certain appeal. We presume you believe that some things in Nigeria don’t work. You find it unusual.

I’ve spent a lot of time researching insurance companies and believe that there are three that stand out above the rest:

This is the most comprehensive website for comparing insurance policies.

List of Travel Insurance Companies in Nigeria

The top travel insurance companies in Nigeria include:

1. AIICO Travel Insurance

2. AIICO Insurance, in collaboration with AIG South Africa, offers a travel insurance package. The following are included in the plan:

• Emergency medical expenses
• Repatriation on medical reasons
• Evacuation
• Lastly, repatriation of mortal remains (corpse)

In addition, this travel insurance plan is for corporate organizations, individuals, and HNIs.

2. AXA Mansard Travel Insurance

AXA Mansard Insurance for travel is designed to provide cover for risks associated with traveling. They provide covers for:

• Loss of property
• Flight delays
• Medical expenses arising from illness or accident
• Lastly, emergency medical evacuation

3. LeadWay Travel Insurance

LEADWAY is a travel insurance provider that covers medical, financial, and other damages that occur while traveling outside of your own country. In general, their plan covers all vacation and business travelers in the event of accidents, illness, or baggage loss.

4. Mutual Benefit Travel Insurance

In addition, Mutual Benefit Insurance offers a travel insurance plan that covers accidental death, medical bills, and repatriation charges for anyone traveling internationally.

Bottomline

When traveling with assets or to safeguard your family and loved ones from the consequences of your untimely death, travel insurance is essential. In general, while many people think it’s a waste of money, it can be advantageous in the appropriate situations.

Finally on Nigeria Travel Insurance, Nigeria is on the horizon!

This concludes our guide to purchasing travel insurance in Nigeria.

Any concerns about Nigeria Travel Insurance? Please leave a comment for me!

Have a fantastic time in Nigeria. Nigeria is a bright and entertaining country, and I’m confident you’ll enjoy it!