Nova Rides Partners with Coronation Insurance to Integrate Insurance Protection into Car Sharing

Building trust into car sharing

Nova Rides, a Nigerian peer-to-peer car-sharing and mobility platform, has partnered with Coronation Insurance Plc to integrate insurance protection directly into its car-sharing experience. The partnership marks an important step in the development of Nova Rides as the company works to establish a trusted, locally built car-sharing marketplace in Nigeria. The insurance integration has now been completed, allowing insurance products to be incorporated directly into the Nova Rides rental journey rather than leaving guests and vehicle owners to arrange relevant protection separately. Peer-to-peer car sharing introduces a different relationship between vehicle owners and renters. Unlike a conventional rental company operating its own fleet, Nova Rides connects guests with individual vehicle owners who make their cars available through the platform. That model creates greater choice and flexibility, but it also means trust and protection have to be built into the infrastructure of the marketplace. Nova Rides has worked with Coronation Insurance to create an insurance structure that reflects the different roles within the platform. Hosts participating in the marketplace are covered through the applicable Coronation Motor insurance arrangement, while guests can purchase Personal Accident cover connected to the duration of their rental. The result is an insurance experience designed around the actual car-sharing transaction.

“From the beginning, we knew that insurance could not be an afterthought for Nova Rides. If we want people to be comfortable making their cars available to other people, and for guests to feel confident renting those cars, protection has to be part of the infrastructure. Completing this integration with Coronation is a major milestone for us.” - Ajamagbiso Mobowofoluwa, Founder of Nova Rides

Insurance built into the rental experience

The completed integration allows Nova Rides to incorporate the relevant insurance processes into its platform and rental workflow. For guests, Personal Accident cover is structured around the rental period, meaning protection is connected to the trip rather than requiring a guest to purchase an annual policy for a short-term rental. For hosts, the applicable Motor insurance arrangement provides vehicle protection within the Nova Rides ecosystem. This creates a clearer separation between the different types of protection required by hosts and guests while keeping the process within the rental experience.

A new model for vehicle access in Nigeria

Nigeria's mobility market has traditionally been built around vehicle ownership, conventional rental companies and driver-based transportation. Nova Rides is developing another option. Through its peer-to-peer model, vehicle owners can make eligible cars available when they are not using them, while guests can access vehicles for trips, work, leisure and other everyday needs. The model has the potential to unlock more value from vehicles that would otherwise remain idle for significant periods of time. But for that model to work, Nova Rides believes the marketplace needs more than a booking interface. Insurance, vehicle verification, tracking, roadside support, clear marketplace policies and responsible operations all form part of the trust infrastructure required for peer-to-peer mobility. The Coronation partnership is a key component of that infrastructure.

More Than Miles

The partnership also reflects Nova Rides' wider vision for mobility. Under its “More Than Miles” philosophy, Nova Rides sees cars not simply as transportation, but as tools that enable experiences. A car can be the start of a weekend away, a family trip, a business journey, a celebration or an opportunity to explore somewhere new. By making a broader range of vehicles accessible while building the infrastructure needed to support responsible car sharing, Nova Rides aims to make those experiences easier to access. With its insurance integration now complete, the company is moving into the next stage of building out its marketplace and expanding its host supply across Nigeria.

About Nova Rides

Nova Rides is a Nigerian peer-to-peer car-sharing and mobility platform connecting vehicle owners with people looking to rent cars for personal, professional and leisure use. Built around the idea of “More Than Miles,” Nova Rides aims to create a more flexible way for people to access vehicles while helping owners make productive use of cars that may otherwise remain idle. Nova Rides currently operates in Nigeria.

About Coronation Insurance Plc

Coronation Insurance Plc is a foremost Nigerian insurance company providing insurance products and services to individuals and businesses. Through its partnership with Nova Rides, Coronation Insurance is supporting the development of insurance infrastructure for an emerging peer-to-peer mobility and car-sharing market in Nigeria.