Understanding Car Insurance – The higher the standard of living of the Indonesian people, it is not surprising that the demand for car purchases is also increasing. Moreover, a car is a dream vehicle for many people.
This makes the car a very valuable vehicle and should be taken care of properly. The price is quite expensive, it certainly makes everyone not want bad things to happen to the car we have. Therefore, it is very important to have vehicle insurance on a new car.
Considerations for Choosing Vehicle Insurance
Unfortunately not many people know the benefits of new car insurance. This is due to the lack of information about the benefits of insurance on the new car that we have. Sometimes the insurance that is obtained when you have a new car, is insurance offered by an insurance company that has worked with the car company.
So that car owners do not understand well, the advantages and benefits of the insurance they have. Not a few who let the car company or car leasing to choose which insurance company will be in charge of their car. In fact, it is very important to carefully understand the insurance for the new car that will be used.
There are two types of insurance products that new car owners can choose from; All-risk or comprehensive insurance and TLO. For this all-risk or comprehensive car insurance, the company will pay claims for all types of damage, applicable for minor damage, severe damage to loss in traffic accidents or due to natural disasters and riots.
By paying regular premium fees according to the contract stated in the insurance policy, you can already get a protection program for your car.
Generally, the price of insurance premiums for each insurance company is different. So, before choosing the type of insurance you need, make sure you are clear about all the obligations and costs of car insurance that must be done.
Sample case; the car was hit by public transportation, the damage was minor which made the car less comfortable to look at. In this case, a claim can be made if the insurance owned is comprehensive insurance.
Total Loss Only (TLO) Insurance
Meanwhile, Total Loss Only (TLO) insurance only covers the risk of theft and damage if the repair costs are estimated to be equal to or exceed 75 percent of the vehicle price immediately before the loss. Total Loss Only (TLO) insurance was chosen because the premium price is relatively cheaper than all risk insurance.
The insurance company will provide protection and help carry out legal responsibility for partial and total damage to the insured motor vehicle or car according to the premium value.
Basically, insurance frees you from the extra costs that must be incurred in the event of damage to the car. Imagine if you don’t have insurance, when the car is damaged, you have to spend personal funds to replace the spare parts.
Car insurance is not only useful for insurance owners and car drivers. There are also insurance options that can cover damage to other drivers’ cars due to your negligence, so you don’t have to panic and worry because the damage will be compensated by the insurance company.
Now, you don’t have to think long about having insurance on a new car. In addition to keeping your assets in high value, you also don’t think too much about additional costs when your car is damaged when things go wrong. So what are you waiting for? Have insurance for your new car.