but before calculating the premium cost, it's good to see the types of vehicle insurance available. Currently, there is a total car insurance lost only (tlo) and all risk / comprehensive.
all of which are intended to protect against loss, but the coverage of protection between the two insurance companies is different. you can freely choose the vehicle insurance by adjusting the ability and needs.
this type of insurance tlo just give the replacement in case the vehicle suffered severe damage above 70 percent, or it can not be repaired anymore. this also includes a lost vehicle stolen.
if buying a car on credit, usually this tlo insurance has become one with the first payment of the amount of premium depending on the length of the credit period. the premium will be lower, if the tenor credit faster.
different from tlo, all risk insurance has a wider coverage coverage, both small and big damage. minor damage such as abrasions caused by being grazed, or cracked car lights can be protected by this insurance.
of course, the premium cost is higher than tlo insurance. which must be remembered, insurance companies are required to charge an additional premium, if the age of the vehicle is above five years with a minimum magnitude of five percent.
not close the possibility also if you want to combine both types of insurance. let's say. in the first three years you wear all risk insurance, but because the older the vehicle the more expensive the premium, in the fourth year you want to switch to insurance tlo. it is fine to do.
according to circular letter ojk number: se-06 / d.05 / 2013 on the determination of premium rates, the amount of premium depending on the area of the vehicle in operation. region i includes Sumatra and the surrounding islands; region ii includes jakarta, banten and west java; and region iii all regions in indonesia which excluding region i and ii.
in addition to regional considerations, the sale price of vehicles also become a factor of insurance vehicle. the more expensive the price of the vehicle, the smaller the percentage of the premium. insurance companies are also required to apply an additional premium as a minimum risk cost of rp300 thousand per incident.
let's say denny who lives in jakarta just bought a car x worth Rp200 million. because he did not want to risk damage or loss, he insured his car with tlo.
in accordance with the regulation ojk, insurance premium tlo for car price range rp125 million to rp200 million in jakarta is 0.44 - 0.53 percent. car dealerships, then apply a premium of 0.49 percent. then the calculation is:
0.49 percent x rp200 million = rp980 thousand
well, if someday denny suffered a disaster until the car wrecked, the insurance will compensate for the price of the car he bought at that time. the question is, until when does this tlo insurance apply?
the duration of this tlo insurance is usually one year and the guarantee money will continue to decrease in the following year. because the value of cars shrink every year. therefore, when it will pay the premium in the next year, always check the fit between the premium, the value of the car and the sum insured.
another story, if denny insure his car with all risk insurance. in addition to paid premiums are also greater, the benefits are more extensive.
the all-risk insurance premium for the price of rp200 million cars in the Jakarta area is 2.47-2.72 percent. let's say, the dealers set the insurance premium of 2.5 percent, then denny kudu pay rp5 million per year for insurance.
try to count, for example bumper denny car dented due to hit by a motorcycle. because he does not insure his car is all risk, then denny must be out own expenses of:
- the cost of bumper repairs rp500 thousand
- paint rp500 thousand
without insurance, denny have to pay rp1 million for car repairs. meanwhile, with all risk insurance, denny simply pay rp300 thousand per incident as the cost of risk.
You can also ask for extension of coverage to the insurer. But, certainly not free. For example because in Jakarta, there are often demonstrations, you want to protect your car for fear of being destroyed by the masses.
You simply pay 0.05 percent for All Risk insurance or 0.35 percent for TLO insurance. But the minimum premium rate according to OJK regulation, the amount will depend on the insurance company selected.
Expansion of these dependents can also protect the vehicle from incidents such as sabotage, terrorism, and personal accident passengers are usually not covered by motor vehicle insurance.
Well, now already know the formula and rate of insurance premiums. Now it is no longer dong mock-up story or protest at the insurance because they feel "robbed". All already have rules of the game and are protected by law, so no one is harmed.
Source : viva.co.id
image source : google image