Tips for choosing the best car insurance

    Cars cost a lot extra. From taxes to services to insurance. Now, let’s take a closer look at how to choose this type of car insurance. We may have driven very safely and obeyed the traffic rules. But the name still carries risks. First of all, there are external factors, such as someone else's mistake, flooding, theft. The name is also a machine, I do not know when it will break. Insurance covers the cost of repairs in the workshop and some even guarantee replacement. Banks usually require auto insurance when you buy a car on an installment plan. If they don't pay, the bank wants to make sure the car is in good condition and can be repaired and insured.

Tips for choosing the best car insurance

    There are two types of car insurance that determine the amount of insurance premiums, and you can choose according to the model year of the car. The first is all-risk or comprehensive auto insurance. This type of insurance accepts all motor vehicle liability claims, from minor damage to major damage. All Risks insurance is good for those of us who just bought a car and only want to claim any damage. All-risk insurance is naturally more expensive because it covers all damages. For example, the all-risk premium in the Jakarta area is 3.26% of the car price.

    The premium percentage is much higher than the premium, but only the highest TLO or total loss is 0.78%. The second type is TLO Auto Insurance or Total Loss Only. TLO Insurance provides coverage or compensation costs of at least 75% of the current value of the vehicle only in the event the vehicle is lost due to theft or damage. This means the car must be completely unusable before a claim can be filed.

    So don't expect your claim to be approved if your car gets even an inch scratched or dented. Premiums are, of course, lower than the first type of insurance, or all-risk, because you can only claim damages if your car is badly damaged. Even premiums can be as low as a third of all-risk car insurance. Lowest premium in Jakarta area from 0.44% compared to car price. Don't get confused. Here's a summary of the differences between the two types of auto insurance.

    For those of us who live in flood-prone cities, just in case, most insurance policies do not directly cover auto repairs as a result of flooding. need to buy advanced security for flooding and of course a premium. For the best auto insurance options, Lifepal has already aggregated recommendations for the best auto insurance products based on type, features, services, partner repair shops, and lowest premium. Some choices include Sinarmas, ACA, Autocilin, Allianz, Astra Garda Oto, and AXA Mandiri. Our customers benefit from this.

    We already have many ways to find the cheapest and best insurance services. To view the full list, please visit our website lifepal.co.id. Let's calculate your car insurance premium. Unlike health insurance and life insurance, car insurance premiums are set based on the tax rate of the Financial Services Agency. OJK published his OJK Circular in 2017 as a car insurance premium calculation guide. They are categorized by insurance type, region, vehicle price, and extended warranties granted.

    As such, there are three regional divisions that determine the amount of car insurance premiums: A percentage bonus distribution is then also calculated based on the car's price class. This category is displayed like this. It is also calculated according to the type of insurance. The following table shows a simulated Article 2 premium. From this table, you can calculate the cost of auto insurance that you would have to pay if you had an all-risk auto policy. For example, Agya's car has a price of 150 million, has a Jakarta license plate, area 2 premium category, and car category 2. Below is a simulation of the total risk premium that you pay each year when you purchase car insurance.

    The grand total is Rp3,705,000. The total risk premium multiplied by the price of the car is the cost of the car premium, which is simulated as: Next, we look at the cost of the TLO category and the car insurance simulation. Looking at this graph, we can see that TLO car insurance is cheaper than all-risk car insurance. Using the same example as the previous all-risk insurance calculation, using the same formula yields a more favorable result of only Rp 660,000 per year for car insurance for TLO. In addition to the two categories above, there is also combination auto insurance. This type of insurance combines all risk and TLO coverage.

    This product is usually used for auto loans. However, it is important to note that this type of car insurance varies from period to period. For example, the first policy year is All Risk and the next year is his TLO. This is something that customers may not understand. During his first year, the customer is entitled to all risk protection. I made a similar claim the following year, but the insurance company declined. This is likely because his TLO's coverage includes coverage that applies to the following year.

    The following are auto insurances that require additional premiums, floods including hurricanes, earthquakes and tsunamis, riots and civil disturbances, terrorism and sabotage, third party liability, passenger personal injury and passenger liability is an extended warranty. Each of the extended warranties mentioned has its own calculations. Complicated? All calculated with Lifepal. Check lifepal.co.id to see which bounty you want. There are a few important things you should know to get cheap and affordable car insurance.

    First, choose a TLO type car insurance that has lower insurance premiums than all-risk car insurance. Second, choose auto insurance that offers basic coverage without no-frills upgrade guarantees. Especially if you don't want a stretch guarantee. Third, choose more valuable insurance, such as: B. PROTECTION OF DRIVER AND PASSENGERS. Below are some criteria and tips for choosing insurance products according to our needs. First, you need to choose the right type of car insurance. Understand the needs and terrain we traverse frequently, and whether our area is a dense, damaged road, accident prone, or vulnerable area.

    All-risk insurance is suitable, for example, for drivers in cities where the risk of blisters and accidents is high. TLO insurance is suitable for vehicles located in crime and loss prone areas. The second tip is to choose a reliable and trustworthy insurance company. Reliability means more than just having a well-known brand, it also means trusting your service and minimizing complaints wherever possible.

    A third tip is to choose an insurance company with extensive partner workshops. Auto insurance usually already exists in cooperation with the official workshops of our car brands or other workshops. Few insurance brands can do repairs in any garage. Such feats are usually very useful especially when the car is damaged in an unfamiliar place. A fourth tip is to compare premium with features.

    Automobile insurance premiums are set by OJK, but the features and services of each product may differ even if the premiums are the same. Some insurance covers only damage to the vehicle, while others cover the driver and passengers. If you decide to get your insurance policy now, understand and sign the coverage, features, and additional benefits.

    If you get confused while comparing and don't have time to search through all the comparisons, calm down. lifepal has put together the best recommendations. We work with dozens of auto insurance partners to provide you with the best insurance options. Visit the links below to find the best insurance for you.

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