Know the Types of Car Insurance and Amount of Premiums Before You Buy – Be Informed Online

Know the Types of Car Insurance and Amount of Premiums Before You Buy – Be Informed Online

lacrymosemedia.com – Public awareness of the importance of car insurance is quite high and continues to grow. This is because there are many important protection benefits that car insurance can provide to its customers.

Starting with protecting against the risk of an accident, damage, even loss, can be covered with car insurance. There are two types of car insurance you can choose based on your needs and financial situation, Total Loss only (TLO) car insurance and All Risk car insurance.

Those interested have protection comprehensive You can check out the best All Risk car insurance. One of them is offered by Astra car insurance.

So, to know more about this one car protection product, let’s first learn about the types of car insurance and their respective premiums so that you don’t choose the wrong one.

Types of car insurance

As explained earlier, car insurance is divided into two types, namely:

1. All Risk Car Insurance

Broadly speaking, All Risks insurance is a type of insurance that will provide comprehensive funding along with both minor and major loss protection.

Because it provides a wide coverage, the premium charged for All Risk car insurance is higher than other types. Because the nominal you pay is equal to the protection you receive.

This is because spending a large amount on the best car insurance can burden your income. For this, make sure that the cost item to pay the All Risk car insurance premium will not interfere with other needs.

See also  Minimalist Home Design 5x14 M, Comfortable and Stylish

2. Insurance TLO

Total Loss Only (TLO) insurance is car insurance that provides comprehensive protection against vehicle loss. Total repairs are over 75% of the car’s pre-accident value, either due to theft or damage.

TLO insurance covers large-scale damage or other losses with a loss rate of more than 75 percent, such as car theft where the vehicle is not found up to 60 days later.

In other words, if the damages are lower than that percentage. Since the coverage is not very wide, the TLO insurance premium amount is not as big as All Risk.

However, if the car is damaged and the percentage does not reach 75%, you should still prepare a deposit or deposit outside of the best car insurance.

Therefore, choosing TLO insurance is classified sly. You can discuss this with the company or insurance agent to ensure that this type of insurance is needed for your beloved car.

All Risk Car Insurance Premium

Provisions for All Risk car insurance rates vary from 1.05 to 4.2 percent depending on the price of the car and the region.

The following is the All Risk car insurance rate according to the applicable regulations and regulated by the OJK:

Information:

  • Region 1: Sumatra and surrounding islands.
  • Region 2: DKI Jakarta, West Java and Banten.
  • Region 3: In addition to Region 1 and Region 2.

TLO Insurance Premium

TLO insurance rate is cheaper than all risk insurance rate because TLO insurance does not cover all risks faced.

The TLO insurance rate is usually less than 1 percent of the car’s value. The following is the TLO car insurance rate based on the OJK circular:

See also  Cooking is more fun with 8 cheap 20cm pans – Online alert

Information:

  • Region 1: Sumatra and surrounding islands
  • Region 2: DKI Jakarta, West Java and Banten.
  • Region 3: In addition to Region 1 and Region 2.

These are the types of car insurance and the premium amount that are important to understand. So, have you decided which car protection product to buy?