We are committed to putting customers’ needs first! Our products protect you and provide a wide range of benefits:
- We guarantee quality service;
- We pay claims fast.
- We offer competitive pricing;
- We pay your claim in full
- Flexible payment options (Monthly, Quarterly, Bi-annually and Annual)
- Motor
- Fire
- Fire & Special Perils
- House owner / Householder
- Consequential loss / Business Interruption
- Political Violence / Terrorism
- General Accident
- Public Liability
- Product Liability
- Workmen’s Compensation (The Royal Workmen’s Plan)
- Burglary
- All Risks
- Fidelity Guarantee
- Money
- Combined Product & Public Liability
- Personal Accident / Group Personal Accident
- Personal Liability
- Combined GPA & EL
- Professional Indemnity
- Goods-In-Transit
- Liability Policies
- Marine Insurance
- Bond
- Industrial All Risk
- Engineering
- Agriculture
- Oil and Gas
You can visit any of our branches to purchase our insurance policies or call our customer care representative(s) on 01-4606990, 07080606100 or send an email to info@royalexchangeplc.com
- The Motor Policy Proposal Form
- Valid means of identification
- Evidence of Premium Payment
- Vehicle License
The various proposal forms for our plans are available for download here on our website. You can also request for a proposal form by contacting our Call Centre Representatives via email info@royalexchangeplc.com, general@royalexchangeplc.com or call 01-4606990, 07080606100
When you purchase an insurance policy from Royal Exchange General Insurance, we offer a number of flexible payment options including bank transfers, web payments, Direct Debit mandates, several online payment platforms and gateways (e.g quickteller, Paga) or via Point of Sale (POS).
You may contact our Call Centre representative(s) on 001-4606990, 07080606100 or email info@royalexchangeplc.com, general@royalexchangeplc.com.
You may call our Call Centre Representatives on 01-4606990 and 07080606100 or send an email to info@royalexchangeplc.com, general@royalexchangeplc.com or notify us of your claim via our website. You may also visit any of our branches.
Head Office: 34/36, Oshodi-Apapa Expressway, Charity Bus-Stop, Oshodi, Lagos
Promptly notify our company or your broker via mail or telephone call.
A claim is valid if the loss happened during the cover period for which premium was paid.
- Duly completed claim form. (Attach link to claim forms).
- Photographs of the damaged property.
- Submit estimate of repairs.
Support your estimate with other available evidence of the loss.
Agric Insurance
So you can worry less about your farming and related agribusiness risks as Royal Exchange steps in to manage your associated risks with our vast array of agricultural insurance products.
Royal Exchange offers insurance protection for your farm produce (crops) from adverse weather perils such as drought, excess rainfall, flooding, etc. We also provide cover to farm machinery and equipment against losses from fire, burglary/housebreaking, lightening, flood, explosion, windstorm and other perils thereby mitigating the impact of losses.
Royal Exchange Index Insurance
Our Index insurance is a multi-layered protection cover provided to small-holder farmers or farmer groups against production losses occurring during crop germination, flowering and maturity phases.
For crop germination and flowering phases, claims payouts are based on values obtained from pre-determined weather (i.e. rainfall/temperature/natural disaster) conditions/ trigger/scale set out in the insurance policy.
At crop maturity phase, claims payouts are made based on actual yields/output deviations or losses at harvest from pre-determined output benchmarks agreed upon
Royal Exchange Multi-Peril Crop Insurance
This indemnity-based class of insurance is available to cover for each crop in each field with the emergence of the crop from the soil, and shall continue until harvest, temporary storage on farm, or any other place awaiting its sale.
Provides cover against physical loss or damages resulting from:
- Drought (excl. under irrigation)
- Hail damage
- Fire
- Windstorm
- Excess Rainfall
- Uncontrollable Pests & Diseases
Royal Exchange Replanting Guarantee Insurance
This cover is a guarantee that if it doesn’t rain for approx. 21 days after planting, then the farmer can get cash backing to purchase replacement seeds and/or fertilizers and replant with the next rains.
Royal Exchange Plant “ALL RISKS” Insurance for Agribusiness Operators
Our Plant “ALL RISKS” Insurance provides cover against unforeseen and sudden physical loss or damage to the insured plant from such cases as:
- Fire & Lighting, explosion
- Theft/storm and tempest
- Malicious damage
- Transit accident
- Impact arising from breakdown
- Accidents arising out of dismantling and re-assembly.
Ranges of machines to be insured: Boilers, generators, excavators, planters etc.
Royal Exchange Machinery Breakdown Insurance for Agribusinesses
Our Machinery Breakdown Insurance provides cover against unforeseen and sudden damage to the insured machinery from:
- Faulty material, design or construction.
- Vibration, maladjustment, etc
- Defective lubrication, loosening of parts
- Abnormal stress, molecular fatigue
- Self-heating, centrifugal force
- Other electrical & mechanical breakdown
Ranges of machines to be insured: Tractors and trailers, process machinery/plant, transformers and switch gear, etc.
Royal Exchange Goods in Transit Insurance for Agribusinesses
Our Goods in Transit cover is specifically designed to ensure agribusiness operators engaged in movement of agric produce from one location do not suffer financial loss from their point of loading to discharge of goods or otherwise in the course of transit.
Scope of Cover: loss of or damage to agro- property/good insured caused by fire, theft and accidental damage.
Royal Exchange Burglary Insurance for Agricultural Warehouses
This class of insurance offers compensation for loss of or damage to insured properties following:
- Theft accompanied with forcible or violent entry or exit into farm office buildings, warehouses and other associated infrastructures
- It also caters for misfortune suffered as a result of theft of any of the insured items
Royal Exchange Fire & Special Peril Insurance for Agricultural Warehouses
Our policy covers material damages to your farm buildings and supporting infrastructures caused by
- Fire,
- Lightening and explosion.
Cover under this class of insurance can also be extended to cover the allied perils of:
- Flood,
- Bursting, leaking or over-flowing of water pipes, apparatus and tanks, storm damage,
- Riots and strikes as well as
- Malicious damage.
You can visit any of our branches nation-wide during the hours of 9:00 am – 4:30pm and present your request to any Royal Exchange staff or send across a request mail to info@royalexchangeplc.com
You can contact the following officers of the Royal Exchange Agric desk to attend to your enquiries or assist you with purchasing your desired agric insurance cover. They are as follows:
- Chukwuma Kalu (Head, Agribusiness) – 07057362364 or kalu@royalexchangeplc.com
- Kehinde Alao (Agric Underwriting – South West) – 08056977512 or alao@royalexchangeplc.com
- Kabir Mohammed (Agric Marketing – North ) – 07039364573 or mohammed@royalexchangeplc.com
- Olayemi bambigbade (Agric Marketing – South West) – 09032376152 or olayemi.bamigbade@royalexchangeplc.com
Oil and Gas Insurance
Royal Exchange General Insurance Company provides robust cover that meets the insurance needs of companies in the capital intensive oil and gas sector. We are there from the construction of oil platforms to when the long stretches of pipelines flow with refined products.
This policy covers all risks of physical loss and destruction to the insured properties (including Legal liability arising thereof) to the properties of the insured or arising out of the insured’s operations (including their agents). It protects all parties against the financial consequences of accident which may lead to loss or damage to properties, business interruption and injury to workmen and third parties.
The properties covered would include the following:
- Oil Rigs and Platforms
- Pipe Lines
- Flow Stations
- Gas Terminals
- Farm Tanks
- Operators Extra Expenses
- Cost of Controlling Well Fire
- Cost of Re-drilling
- Oil Seepage and Pollution (Clean Up Costs and Third Part Liabilities)
- Cryogenic Vessels Hull