When Headlines Become Lessons

Happy New Year to all my esteemed readers.
As we step into a new year, I want to sincerely thank you for your continued support, engagement, and thoughtful conversations throughout the past year. Your feedback, questions, and shared experiences have kept this platform alive and relevant, and I do not take that for granted.

It is my hope that this new year brings prosperity, stability, good health, and better risk awareness for us all.

Recently, reports emerged of a road accident involving world-renowned boxer Anthony Joshua. While details remain limited and speculation continues in some quarters, one fact remains clear: accidents do not respect fame, wealth, discipline, or status.

This incident is not about celebrity gossip. It is a reminder that cuts across borders and income levels that risk is a constant companion in our daily lives.

Whether you are a global sports icon or an average Nigerian commuting to work, the unexpected can happen.

What Happens After the Accident?

Many people focus on how an accident happened. From an insurance perspective, the more important question is: What protection is in place when it does?

This is where insurance quietly but powerfully comes into play.

Motor Insurance: More Than a Police Check Requirement

In Nigeria, motor insurance is often treated as a document to avoid harassment at checkpoints. Unfortunately, an accident is usually where this mindset collapses.

• Scope of Motor Insurance (What It Covers)

Depending on the policy in force:

Third Party Only

• Injury or death of third parties
• Damage to third-party property (up to policy limits)

Comprehensive Motor Insurance

• Damage to your own vehicle
• Third-party liabilities
• Medical expenses for occupants (subject to limits)
• Fire, theft, and accidental damage

An accident does not ask whether you bought insurance for compliance or protection, it only exposes the difference.

Personal Accident Insurance: Protecting the Human Asset

Anthony Joshua’s most valuable asset is not his cars or real estate, it is his body. The same applies to artisans, traders, drivers, farmers, and professionals whose livelihoods depend on physical ability.

• Scope of Personal Accident Insurance

Typically covers:

• Accidental death
• Temporary total disability
• Permanent partial or total disability
• Medical expenses arising from accidental injury
• Loss of income during recovery (policy-dependent)

For many Nigerians, one injury can mean months without income. This is where Personal Accident insurance becomes a lifeline rather than a luxury.

What Is Not Covered? (Key Exclusions)

Insurance works best when expectations are clear.

Common exclusions include:

• Injuries arising from willful misconduct
• Driving under the influence of alcohol or drugs
• Participation in unlawful activities
• Wear and tear or mechanical failure (motor policies)
• Pre-existing conditions not declared (PA policies)

Understanding exclusions is just as important as knowing the benefits.

How Are Premiums Rated? (Why You Pay What You Pay)

Many readers often ask: “Why is the premium this amount?”

• Motor Insurance Rating Factors:

• Type and value of vehicle
• Usage (private, commercial, ride-hailing)
• Driver’s claims history
• Scope of cover (third party vs comprehensive)

• Personal Accident Insurance Rating Factors:

• Occupation and risk exposure
• Age
• Sum insured
• Nature of cover (individual or group)

Premiums are not arbitrary they reflect risk exposure and scope of benefit.

Advantage of the Well-Insured

One reason high-profile individuals recover faster after accidents is not luck it is structured risk planning. Medical bills are settled promptly, rehabilitation begins early, and financial stability is preserved.

For the average Nigerian without cover, recovery sometimes comes with:

• Selling assets
• Borrowing at high interest
• Interrupted education for dependants
• Long-term financial strain

Insurance does not prevent accident, It prevents collapse after them.

Final Thoughts for the New Year

A new year is more than a change of date. It is a season of goal-setting, fresh plans, and renewed hopes. But meaningful planning is never complete without considering risk. Every goal, whether personal or financial can be disrupted by unanticipated events.

As we move forward this year, let us go beyond seeing insurance as a mere obligation and begin to recognize it as a strategic tool that protects our goals, preserves our dignity, and ensures continuity when life takes an unexpected turn.

You do not need to be famous to protect what matters. You only need to be intentional.

Thank you once again for walking this journey with me. Here’s to a year of thoughtful planning, wiser decisions, and better-insured futures.

Call to Action

Have you reviewed your motor or personal accident cover recently?
Do you know what it truly covers and what it does not?

Let’s keep the conversation going.