Car Insurance Benefits

Car Insurance Benefits

Car insurance is intended to protect from the threat of unforeseen hazards such as collision, theft of car parts or even the car itself is stolen. By protecting a car with insurance, we can drive a car with a sense of calm and safe to travel anywhere.

Types of car insurance coverage consists of:
1. Insurance Losses Total (Total Loss Only / TLO)
Guarantee losses resulting from accidents with minimum damage to 75% of the sum insured or the vehicle is lost.
2. Combined Insurance (Comprehensive) or All Risk
Guarantee losses resulting from major and minor accidents or loss with the imposition of additional equipment / vehicle destruction or loss.

In addition to the basic protections such as the above, car insurance also provides liability insurance expansion such as the law against third parties and passengers, riots (Strike, Riot and Civil Commotion), Natural Disasters (Act of God), etc.. To learn more about the various terms in the fields of insurance, you can see on the page Glossary of Insurance.

At present, it is very easy for you to obtain car insurance an attractive and appropriate to the needs of as many insurance companies in Indonesia are competing by offering interesting programs. More and more people are insured indicates that the awareness to protect the price of their items from the possibility of danger is getting better.
Insurance companies in the country now compete to provide the best service for the community, both in terms of programs to claim problems.

Tips for Choosing a vehicle insurance

Choosing a direct car insurance is not easy. Especially today in the midst of strong competition. Almost all auto insurance companies have an auto insurance product fast service. Keep potential customers to choose who will be captured. So, here are some criteria to avoid bad choice:

• Potential customers do not dwell on the turnout at low prices. Because the competition today, many car insurance companies slam prices, offers insurance at low prices. Although not necessarily a guarantee of service.
• See the fast motor insurance package offered. For example, extended warranties for quantity. Therefore, extended warranties must be resolved with the desire and ability of potential customers.
• See also the network of their insurance companies for motor vehicles. For example, how many have a branch or as many partners have a garage, so once someone claims not to wait too long to repair vehicles or missing.
• Can be requested in advance for convenience, ease or what added value can be obtained for the purchase of company policy. For example, if a tow truck, replacement, or the telephone hotline, millwright services, ambulances, etc.. And last but not least, is easy to make changes and the facility in question.
• It should also be considered authentic auto insurance company. Do not be so there is a claim, the partners have no garage. Consequently, many auto insurance companies say they are the best. Although the economic situation was very serious.

No Claim Bonus on Direct Car Insurance

The increased risk of accidents that occurred in motor vehicles also create increased competition among direct car insurance companies. Insurance companies offering various systems to attract the public to become policy holders in insurance companies. No-claim bonus is one of the systems offered by direct car insurance companies. In this system the amount of premium is influenced by the amount of the claim made by a person policyholders in the past year in case of accident.

if no accidents were reported on a period of one year, the state will be reduced as much as one and for any accidents reported to rise as much state s.

Determination of state in the no-claim bonus system based on a search for Poisson distribution which states the number of accidents reported or the number of claims each year. The final results obtained from the search with this Poisson distribution that determines the percentage of premium payment in each state, state transfer rules and financial analysis for the company concerned. This affects the policyholder to make a claim or not to make a claim against any damage that occurs in an accident

Previous research by Mert and Sykan (2005) set the premium to be paid in subsequent years depending on the amount of the claim made and the value of the previous year. The number of claims is determined by Poisson distribution, the number of expectations with an exponential distribution and the value of the claim with the exponential distribution is modeled using Gamma distribution, so that the claim sizes follow Pareto distribution

Motor Vehicle Insurance

Assurances will be given if the following motor vehicle insurance:
will protect your vehicle from the risks of loss or
damage caused by:

• Collision, collision, Upside down, slip off the road.
• Someone Evil Intention
• Theft
• Transported by elevator or a crane.
• Cost of crane.
• Fire.

In addition, you can also obtain the expansion of insurance for these risks:

• Riots and strikes.
• Accident Owners and Drivers.
• Legal Responsibility of Passenger.
• Earthquake, Volcanic Eruption and the Flood.

Who can become a customer
All individuals or business entities who have an interest in the object customers can be insured Motor Vehicle Insurance:

• Owners insurance object.
• Bank.
• Financial Institutions Credit Giver.

Uninsured risk
As with other insurance, there are some risks that are not guaranteed, such as:

• Continual losses, lost wages due to not wearing vehicles accident.
• Theft of tools and tool-alaat additional (except those mentioned in the summary policy).
• Loss / damage caused by insects / small animals, used in race, overloading, running in error, run by people who do not possess driver's license, driven above the forbidden roads, war, nucleus reaction, construction or material error.

Long term use of adjusted to the needs of the insured, which may last for one year, less than one year, or more than One Year.
Types of vehicles that can be insured:

• two-wheeled motor vehicle, such as Motorcycle, Scooter and the like.
• four-wheeled vehicle such as Sedan, Jeep, Minibus, truck and others.

Price coverage of the insured motor vehicle is the market price
the vehicle of the same type and type of insurance at the time of closing.

Large insurance premiums per year calculated by the formula:
Total Sum Insured x Rate per year

Procedure insurance coverage:
Closing Form v Motor Vehicle Insurance with a complete and
attach the necessary documents.

• Survey of risk (if needed)
• Calculate insurance premium
• ready Insurance Policy issued

Procedures extension policy:
The insurance company will contact you to confirm the extension of the insurance policy due, or you can directly contact the insurance officer at an insurance office