Where to Buy Motor Vehicle Insurance: All Risk or TLO?
Buy motor vehicle insurance wisely: how all risk and Total Loss Only (TLO) cover differ, what premiums look like, and where to buy at JAGAIN.COM.
Motor vehicle insurance has been familiar to the public for decades. Like insurance in general, its purpose is to protect against and prepare for losses or risks to your car when the unexpected happens.
In principle, everyone is fairly familiar with what motor vehicle insurance does and what it offers. Even so, a prospective customer still needs to be selective about the type of policy and about how professional the company offering it is.
In general, the right vehicle insurance has to be matched to your needs first. Start with the condition and age of the vehicle, because those two factors greatly affect the premium you will pay.
For a new car priced at around Rp 200 million and up, it is better to choose all risk (comprehensive) car insurance. Why? Because this type of policy gives your car full protection. If the car is lost, or it is damaged in an accident (badly or slightly), the insurer covers every loss, including repair costs or compensation for the lost car.
For a car that is 5 years old or more, Total Loss Only (TLO) insurance is recommended. Note that with all risk insurance, the older the car, the higher the premium. With TLO, on the other hand, the premium falls every year according to the car's condition and age.
Because it protects the vehicle comprehensively, all risk motor vehicle insurance charges a premium of more than 2%. Some policies even reach 2.7% of the car's price.
Total Loss Only (TLO), meanwhile, offers limited protection. Compensation is paid when the car suffers severe damage, above 75%. Because the coverage is limited, TLO premiums are automatically lower than all risk. The TLO premium is only 0.44% to 0.53% in the Jakarta area.
From the explanation above, you should now have a sense of which type of insurance fits your needs and available budget. So where can you buy all risk or TLO motor vehicle insurance?
For motor vehicle insurance, life insurance, health insurance, personal accident insurance, or online travel insurance, you can buy at JAGAIN.COM. You can directly compare facilities, procedures, and premiums against other comparison sites. We are confident you will say JAGAIN is still the best.
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