After that the next process can follow the following general procedures:
After all the requirements are considered complete and meet all the provisions of the insurance company, then you only need to bring the car to the garage which is the partner of the insurance. Do not try to repair a car in a garage that is not an insurance partner because it could be that the claim will be rejected.
The final procedure in making a claim is that you will be told to fill in the form as clearly as possible. The completed form usually contains the accident data in detail both the time and place. For that, fill in the truth because the insurance or the workshop will know if you do a lie. This will have an effect because if there is only one data that contradicts an incident while in the field, then it is probable that the claim will be rejected.
After all the data is filled in, all that remains is to ask the workshop about how long it takes to repair the vehicle. For a long time whether or not this work will be determined based on the severity of the damage. Even a small damage of 1-2 days must have been completed, but if the damage is very severe, it could take weeks or even more than a month.
The easy process of a car insurance claim should make the vehicle owner aware of the risk of the vehicle he has and ultimately make protection by buying insurance products. For the sake of convenience in choosing insurance products, here's how to calculate car insurance premiums to increase knowledge.
How do you calculate car insurance premiums so you don't get cheated?
There are two types of car insurance based on the protection provided, namely TLO (Total Lost Only) and All Risk insurance with the following premium calculation:
Example: Andi, who lives in Jakarta, just bought a car for Rp. 200 million. Because he did not want to risk damage or loss, he insured his car with TLO.
The following calculation of premiums in accordance with the FSA rules above:
TLO insurance premiums for car prices ranging from Rp 125 million to Rp 200 million in Jakarta are 0.44 - 0.53 percent.
The car insurance, then apply a premium of 0.49 percent
Then the calculation is: 0.49 percent x Rp200 million = Rp.980 thousand
If someday Andi experiences a disaster such as a loss or a serious accident that makes his car wrecked, the insurance will compensate according to the price of the car he bought at that time.
Other provisions that apply are:
The validity period of this TLO insurance is usually one year and the guarantee money will continue to decrease in the following year.
Because the value of the car is decreasing every year, when you will pay a premium the following year, always check the match between the premium, the value of the car and the sum insured.
All Risk Insurance Premiums
Example: Andi, who lives in Jakarta, just bought a car for Rp. 200 million. Because the risk of vehicles owned by Andi is very high, Andi insures his car with all risk insurance. In addition to the premium paid is also greater, the benefits are wider.
The following calculation of insurance premiums:
The amount of all risk insurance premiums for the price of Rp200 million in the Jakarta area is 2.47-2.72 percent
If the insurance company, for example, sets an insurance premium of 2.5 percent, then Andi must pay Rp. 5 million per year for insurance.
Simulation of all risk insurance benefits in case of risk:
For example, the risk of Andi's car bumper being damaged due to being hit by a motorcycle. If Andi does not insure his car in an all risk manner, then Andi has to pay his own expense of:
- Bumper repair costs Rp. 500 thousand
- Paint and Body repair IDR 500 thousand
Without insurance, Andi must pay Rp1 million for car repairs. Meanwhile, with all risk insurance, Andi only needs to pay Rp300 thousand per incident as a risk cost.
Expansion of Coverage
All risk insurance and TLO also allow customers to add benefits or expand protection. For example, because in Jakarta, there are often demonstrations, you want to protect your car for fear of being damaged by the masses.
The cost is not expensive, you just pay 0.05 percent for All Risk insurance or 0.35 percent for TLO insurance. But that minimum premium rate is according to OJK regulations, the amount will depend on the insurance company chosen.
With the addition of the premium, you will get extended coverage that protects the vehicle from incidents such as natural disasters, sabotage, terrorism, and passenger personal accidents that are usually not covered by motor vehicle insurance.
The following illustration illustrates the expansion of coverage:
Andi wants to add an expansion of flood coverage, because he lives in Jakarta which is prone to flooding with a premium cost of 0.35%. Then the amount of the premium is as follows:
Expansion: 0.35% x Rp 220 million = Rp 770.00
Then the total cost of insurance premiums: IDR 6,600,000 + IDR 770,000 = IDR 7,370,000
After paying IDR 7,370,000, I have already. He no longer needs to worry too much if his car is lost or damaged.
At first glance, the insurance premium is indeed greater than the cost of repairs. But if it happens the same accident as the example above, when in fact the damage caused by an accident, who can predict? Although we have been careful, if other drivers are reckless, we can still get hit. Especially if we live in a city where traffic is always congested.
It could be that in one year we have experienced a number of accident risk claims. Another benefit is that even if the car has to stay overnight he can get a replacement car for a certain period of time. Usually 3 x 24 hours after the car enters the garage.
Insurance premiums are not expensive, especially if you understand the benefits
The above review gives an overview of some of the things that affect the amount of the premium so you can adjust your needs to your budget. Actually the cost of premiums is not expensive, you just need to adjust to the needs and types of insurance needed.
Especially if calculated potential risks as illustrated above. If the risk of a small accident does look wasteful at its own risk, but if the risk is large it will greatly benefit from the insurance protection.
