Things to Look For in All Risk Car Insurance. There are 2 types of car insurance products that need to be understood by customers, namely all risk car insurance and Total Loss Only (TLO). The difference lies in the protection provided, where all risk insurance provides comprehensive protection against all vehicle risks (unless there are exceptions). This makes people prefer to choose all risk products for vehicle insurance, especially new ones (vehicles under 5 years old), even though the premium is, the cost of all risk is far above TLO insurance. While TLO Insurance itself only protects the vehicle in the event of total damage (costs more than 75%) or loss.
Given the relatively large costs, then before taking this all risk product, prospective customers must really understand the product so as not to be disappointed or misperceptions that can cause losses in the future. The need for car prote ction can be seen from the level of crime or other levels of risk such as traffic congestion where you live or travel frequently with the car. If you don't have exact data, you can check on the internet or other media. If the environment is not too dense and minimizes the risk of accidents whether mild or severe then the TLO product is suitable for you to take.
But if you live in an area with heavy traffic, the risk of a vehicle accident, at least a large enough scratch. Just one stroke at least costs money if you go into body painting. If this condition is the case, then the All risk product is suitable for you to take. Another example is for example where residences are often affected by floods, then the all risk insurance chosen must have an extended guarantee against floods. Check Your Budget, Is It Possible to Cover All Risk Insurance Premiums? Because it protects all risks, the premium costs for this type of all risk insurance are indeed more expensive than TLO type car insurance. Car premium payments are usually once a year, for new output cars need premiums per year. Well, check the budget and adjust the financial budget. Vehicle protection is an important condition because movable assets are usually risk-prone. So, if you are ready to buy a car, you must prepare more funds to buy all risk insurance. Compare Products and Choose the Best and Most Trusted
The amount of premium costs is indeed one of the considerations, but it is also necessary to consider the benefits and reputation of the insurance company that you will take. This reputation is important because it will affect the claims process later. It may be that the premium is a bit expensive but the ease of the claim process and the partner car repair shop network is far more. This is of course an important consideration besides the cost of premiums. By comparing products and looking at the reputation of insurance companies, it will be easier to get the right product from a reputable insurance company. Especially when comparing products and reputation can be easily done through the internet network.
