What is Auto Insurance? How to Claim Auto Insurance?

Extra Ordinary Car Insurance Extra Ordinary Car Insurance

A. Definitions and Benefits of Auto Insurance

Insurance is defined as an agreement whereby an insurer makes a bond with an insured by accepting a premium to provide compensation to him because of a loss, damage, or loss that may be experienced due to an unexpected event.

Auto Insurance is a financial product to provide protection to the car from things that will be detrimental. Car insurance aims to provide protection from physical damage and loss due to accidents such as collisions, collisions, sticking etc.

Car Insurance Coverage

Car Insurance Coverage

B. Types of Auto Insurance

This type of auto insurance protection consists of:

  1. Joint Insurance (Comprehensive) or All Risk

Ensure losses due to large and small accidents or loss of additional equipment by coercion or destruction or lost vehicles.

  1. Total Loss Insurance (Total Loss Only / TLO)

Guarantee losses due to accidents with a minimum damage of 75% of the insurance price or vehicle lost.

C. How to Care Insurance

The following are the mechanisms and some terms of Car Insurance that you need to know:

  1. Insurance Policy; An insurance policy is a contract from the agreement between the car owner and the insurance company which contains details of the dependents, terms, and conditions of the contract and the costs that must be paid by the car owner in a given guarantee period.
  2. Insurance Premiums; Insurance premium is a percentage that has been determined from the price of the car that the car owner must pay if he wants insurance services from an insurance company.

    Car Auto Insurance

    Car Auto Insurance

  3. Insurance Claims; An Insurance Claim is an application from the policyholder to hold an insurance company accountable for an event that resulted in damage or loss of a car.
  4. Insurance Guarantee; An Insurance Guarantee is an agreement from the insurance company that is contained in an insurance policy regarding the things they will replace if an event occurs which results in damage or loss from the insured car.

D. Auto Insurance Claim Procedures

Below are some of the following general procedures:

  1. Contact the insurance company and prepare important documents in the filing of claims, such as insurance policy letters, driver’s license, identity card, and also a police certificate if the vehicle is severely damaged in an accident or exposed to a criminal act.
  2. After all requirements are considered complete and fulfill all the provisions of the insurance, then you can just bring the car to the workshop that is the partner of insurance. Do not try also to repair the car in the workshop that is not an insurance partner because the claim may be rejected.
  3. The last procedure in submitting a claim is that you will be told to fill out the form as clearly as possible. The completed form usually contains detailed accident data in both hours and places. For that, fill it out honestly because the insurance or workshop will know if you do a lie. This will have an effect because if there is only one data that contradicts the incident while in the field, it is probable that the claim will be rejected.

That’s all the explanation of car insurance you need to know. Hopefully useful and increase your knowledge about Car Insurance. Thank you for visiting see you in the post.