Smart Ways to Know Your Car Insurance

Kinds And Types of Insurance is basically a disciplined person to suffer small losses for sure, and at the same time be aware of large losses is uncertain. World in which insurance is also known to sell two types of products, namely Life Insurance and General Insurance. For motor insurance, including the loss type. In insurance

companies generally offer two types of car insurance in terms of protection or protection conditions, namely: 1. Comprehensive (All Risk) That guarantees against the risk of loss or damage to vehicles, either in part or in whole, including here the replacement to a third party (the victim) who loss. 2. Total Lost Only (TLO) That ensures protection against the risk of a vehicle if the loss or damage costs equal or exceed 75% of the price of the vehicle and the warranty because the car is lost or stolen.

The amount of premium for both types of car insurance is certainly different. Given the magnitude of risk the possibility of a thing of the vehicle is also not the same.

Comprehensive insurance type (All Risk) bear the risk of loss as a whole, whether the vehicle is lost due to theft or loss as small as a broken mirror because hit by another car. That's what makes premiums more expensive.

While the types of car insurance Total Loss Only (TLO) premiums are cheaper, because it knows the minimum losses. So the damage that causes the loss of a few (less than 75% the price of the vehicle) are not covered by insurance. The comparison with the premiums can be two-fold or more. Suppose that in a large insurance company premiums TLO was 1.25% of the value of the vehicle, then great All Risk premiums may reach 3% of the value of the vehicle.

Choose the Right Insurance Company

The development of vehicle insurance world in Indonesia from year to year it fluctuates. For example, before the riots or floods some time ago, business insurance services ogled or not much can be said is quiet-quiet. As soon as the rainy season comes which makes a big flood in some areas of Jakarta, a lot of vehicles that need serious improvement, since submerged and washed away the water. Or, when there were riots in the election. Not a few heavily damaged vehicle to not be right again, because the whole body mass of charred burnt. Can be estimated how many losses to be borne by the owner of the vehicle, because it does not take insurance. Perhaps because of such events ultimately affect people's views will use vehicle insurance.

Since then people began to think again of the need for vehicle insurance problems. Because of the high market demand for insurance services, it is captured by the owners of capital as a profitable business opportunities. Therefore, many emerging companies new car insurance. Until now there has been more than 100 insurance companies. Of course not all good quality services. This makes the competition among the insurance companies themselves are becoming increasingly stringent. During the healthy competition and further enhance the quality of service to consumers, the better. For example, fast claims processing services, emergency assistance in the road 24 hours a day, third-party compensation (victims) until a certain amount, and so on.

The problem now is that starting a war going concern premium rates that are less healthy and not logical anymore between them. While his claim service is very bad and disappointing. For that prior to submitting an application, we should choose an insurance company which is a public, transparent and reliable. Insurance companies are healthy, always report its financial results periodically. By knowing its financial statements, we can know that certain insurers in insolvent condition (hard to fulfill its obligations) or profitable (profitable). That way, we believe, that the premiums we pay at a certain period was not in vain. At any time the consumer must file a claim, the insurer will meet its commitments. So be careful and do not be swayed by the insurers that offer lower premiums only.

Applying for Insurance

Insurance apply for protection is not difficult, the important thing is to determine the choice of insurance companies that actually trusted. Come directly to the companies we choose to fill out and learn the contents well before the deal was signed.

Determine which type of dependents who wish to bear the risk by insurance companies (TLO or All Risk). Adjust also with the risk of our vehicles, in particular concerning the nature of the use of vehicle, year of manufacture, as well as the types of additional dependents.

Of the applications that the company will conduct a survey vehicle concerned (condition and feasibility). Insurers will consider his willingness to become the insurer of the filing of our application. Sometimes it can also not an agreement. For example because the vehicle is insured as a dependent unknown in other companies. Or vehicles older than 5 years from the time of filing. But it could also depend on the size of the premium that we able.

To be sure the application is already listed all the consent agreement which is a guideline for the insurer (the insurer) and insured (vehicle owner). So in the event of a claim, there are already clear rules for both parties.

Never Too Late Filing Claims

The important thing to note as participants or policyholders. If at any time such unfortunate traffic accident or theft, you should immediately contact the insurance company underwriter our vehicles and to report to the nearest police station. No less important is the care of the paperwork requirements of insurance claims. If it can not be done alone due to go into hospital, can give power of attorney to someone else. This is important because the prerequisite of making an insurance claim is a statement from police accident or description of hospital treatment (if any casualties). In a period of less than 324 hours since the incident, we must claim. After over 324 hours of insurance companies are no longer serving. Why should 324 hours?, Because the term  time is terms and agreement among all insurance companies. This is to avoid any misunderstanding, considering the number of external factors on moving objects in public places such as vehicles.