Coronation Insurance Plc has introduced MotorMax, a new motor insurance product designed to expand access to affordable and comprehensive vehicle protection for Nigerian motorists.
The launch addresses a long-standing gap in Nigeria’s insurance sector, where most drivers rely solely on mandatory third-party policies with limited coverage. MotorMax offers a more flexible alternative, combining affordability with enhanced protection.
Structured into three tiers—Bronze, Silver, and Gold—the product caters to different income levels and vehicle categories. The Bronze plan provides basic coverage at a low annual cost, while the Silver option expands benefits such as higher repair limits and improved towing services. The top-tier Gold plan delivers near-comprehensive coverage, offering significantly broader protection at a competitive price point.
According to Olamide Olajolo, the initiative reflects the company’s focus on practical solutions for everyday Nigerians. She noted that MotorMax is designed for motorists seeking more than basic third-party insurance without the high cost of full comprehensive policies.
The product is expected to boost insurance adoption by making quality coverage more accessible, while also reducing financial risks for drivers in the event of accidents.
Aligned with the innovation strategy of the Coronation Group, MotorMax positions the company as a key player in reshaping Nigeria’s motor insurance landscape through customer-focused, cost-effective solutions.
With its flexible pricing and expanded benefits, MotorMax is poised to attract a broad segment of motorists looking for reliable and affordable vehicle insurance in Nigeria.
