Tips to Get the Best and Cheapest Car Insurance

car insurance

The following are some criteria and tips on how to choose the best car insurance:

1. Select the appropriate type of insurance (all risk / TLO)

Recognize the needs and the terrain that cars often pass, whether in crowded city areas or damaged roads. Usually, all risk insurance is suitable for city car drivers because of the high risk of getting blisters. Meanwhile, TLO insurance is suitable for cars in crime-prone areas.

2. Choose an insurance company with trusted credibility

Credibility is not only a well-known brand but also the trustworthiness of its services and as much as possible with minimal complaints.

3. Choose the insurance that has a wide partner workshop

Insurance usually works with an authorized repair shop for your car brand. However, there are also those working with non-authorized workshops. Well, only a few insurance brands allow us to be able to make repairs to any repair shop.

Usually, this kind of benefit is very useful if for example, our car breaks down in an area we are not familiar with.

4. Compare premium prices versus service features

The insurance premium has indeed been regulated. However, the features and services from one product to another may vary even though the premium is the same. There is insurance that only covers damage to the car, but there is coverage for the driver and passengers as well. Even without an additional fee.

So, when you receive an insurance policy, you should first review what extra protections, features, and benefits are provided, then sign it.

Why do you need car insurance?

We may already be driving very safely and obeying traffic rules. However, do not forget about external factors such as the negligence of others that cause accidents, floods, or even theft.

Broadly speaking, there are three most important reasons we need to know. First, the number of vehicles in Indonesia is increasing by about 6 percent every year. Second, the accident rate also increases every year, and the third is that the cost of going to the garage is more expensive without insurance.

How does car insurance work?

Customers need to register their vehicle and then get an insurance policy which usually lasts for one year. In the beginning, the customer must pay an insurance premium where the funds will be managed by the insurance company to cover various claims from the customer.

What is all-risk insurance?

All risk insurance is a type of insurance that covers minor to severe damage to the car. So, customers can claim damage due to scuffed bodies.

What is TLO car insurance?

TLO insurance or total loss covers serious damage above 75 percent or loss only. So, claims can be submitted if the vehicle has been damaged so that it cannot be used.

How do I claim car insurance?

How to claim is very easy, as long as the files we prepare are complete and following the terms and conditions. Three steps must be done for a claim, namely reporting the incident, taking the necessary action, and submitting a claim by preparing files.

How long does the car insurance claim process take?

If the file has been approved, usually disbursing the claim funds will take 14 working days.

Is there insurance with replacement cars?

Insurance products with replacement car facilities could be included as a benefit primary or benefit extra, depending on the insurance company concerned. This facility is provided to help customers whose cars are being repaired. Usually, the usage period is around 5 × 24 hours.

How long does the car insurance policy last?

After registering for insurance, the policy will be issued within 7-14 working days, according to company regulations. Then, there is a waiting period of about 30 days to claim after the policy is issued.

What is the loading fee for car insurance?

The loading fee or premium loading in car insurance is the cost of increasing the premium calculated based on the age of the car. The amount of the loading fee is a minimum of 5 percent of the premium rate per year for cars over 5 years old. However, the figure can be above that percentage, depending on company policy.

What is the cost of own risk?

When making a claim, the insured usually has to pay his own risk or risk. In simple terms, own risk costs are some costs that must be paid by the insurance policy owner if he submits a claim. Usually, this is if you take All Risk insurance. 

The amount of cost, of course, varies because the amount depends on the premium paid. The existence of this fee is not without reason, but as a reminder to be more careful in the future when driving a car.

Insurance for used cars?

Insurance for used cars can of course be purchased. However, the protection that can be chosen is certainly different from insurance for new cars. On new cars, we can choose between all-risk insurance (comprehensive) or TLO insurance. While used cars are usually only TLO insurance. However, this depends on the make and age of the car as well as the insurance provider policy.

Apply for old car insurance?

You can, as long as the car you own has a maximum age of 10 years if you want to apply for all risk insurance and a maximum of 15 years if you want to apply for TLO insurance.

However, there are also insurance companies that provide special coverage for antique cars, with an age of more than 40 years and the conditions for the condition of the car and accessories according to the initial default.

There is also insurance that covers classic cars with ages between 20 - 40 years, with the condition that they are allowed to undergo repair and maintenance but do not change the original design and specifications.

How to choose good car insurance?

There are three main things that become measurements and benchmarks, namely:

  • Offers premium prices according to government-defined upper and lower limit tables.
  • Provides basic protection guarantees with a wider reach throughout Indonesia.
  • Offers premiums commensurate with the services and coverage provided.

1 Response to "Tips to Get the Best and Cheapest Car Insurance"

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