STI Launches Nationwide Radio Campaign for Enhanced Third-Party Motor Insurance

By LOVETH AZODO, Lagos

Sovereign Trust Insurance (STI) Plc has unveiled a 13-week nationwide radio campaign to promote its Enhanced Third-Party Motor Insurance Policy (E3P), a unique product designed to offer both affordability and expanded coverage for motorists.

The company’s Head of Corporate Communications and Investor Relations, Segun Bankole, announced the campaign during a media parley in Lagos over the weekend.

According to him, the initiative aims to raise awareness about the benefits of the E3P policy, which provides financial protection for both the insured and third parties in the event of an accident.

Unlike the conventional third-party motor insurance, which only compensates the third party in a road mishap, the E3P policy extends coverage to the policyholder as well.

With an annual premium of ₦25,000, the insured is entitled to compensation of up to ₦500,000, while third-party claims can go up to ₦3 million. In contrast, the standard third-party insurance, priced at ₦15,000 annually, only covers third-party damages.

“The enforcement of the Third-Party Motor Insurance Policy makes it imperative for motorists to ensure they are getting optimal value for their money,” Bankole stated. “With E3P, policyholders enjoy the best of both worlds—protection for themselves and third parties at an affordable rate.”

The radio campaign will air across major commercial cities, including Lagos, Ibadan, Akure, Enugu, Port Harcourt, Kaduna, and Abuja, reinforcing the company’s commitment to deepening insurance awareness and adoption in Nigeria.