Not Hard! The Following are the Types And Methods of Claiming Insurance for Credit Vehicles

 

Vehicles are an important asset that everyone needs. The reason is, the vehicle will facilitate work and support mobilization. That is why it is highly sought after to own vehicles, whether purchased in cash or credit.

Now, for credit vehicles , one of the things that is quite crucial to take into account is getting insurance protection . This is because the risk of damage and loss still exists even if the vehicle is purchased on credit.

For this reason, for credit vehicle owners, don't forget to prepare an additional budget for vehicle insurance . There are three types of insurance that can be used as an option, namely total loss only , all risk , and combination insurance .

 

Premium Rates for Car Insurance and Calculation Simulations

Considering that the guarantee of protection provided by All Risk car insurance is much wider, don't be surprised if the premium rate that must be paid for this insurance policy is also getting higher. Of course, the premium rate is commensurate with the benefits and guaranteed protection that will be obtained.

Actually, the insurance premium rate itself already has its own provisions as stipulated by the OJK. The premium rate itself is determined by referring to a number of categories, starting from the type and price of the car, to the region where the vehicle is registered.

The premium rate for this type of all risk car insurance is between 1.05% and 4.20%. Meanwhile, for TLO car insurance, between 0.20% to 0.56%. Judging from the premium rates, TLO insurance is indeed much cheaper, however, the guarantee of protection obtained is of course quite limited. So, if you want a much wider protection guarantee, it is advisable to choose All Risk car insurance .

 

How to Claim Credit Vehicle Insurance          

Basically, how to claim insurance for credit vehicles is not much different from those purchased in cash . Some companies have their own criteria and conditions in the claim process. However, all the steps and stages are easy to do and not complicated.

The stages of insurance claims for credit vehicles are:

 

1.    Don't Delay in Reporting Incidents

The first step in the process of submitting a car insurance claim is to report everything that happened immediately, such as providing photos or videos of damage to the car.

If possible, do not let the reporting process exceed the specified maximum limit. In general, the maximum reporting limit for filing a claim is 3×23 hours after the incident took place.

2.    Prepare Documents

Of course, reporting must also be accompanied by a number of documents so that claims can be processed immediately by the insurer. Documents needed are usually such as STNK, driver's license, report letter from the police for vehicle damage more than or equal to 70 percent of the price.

Don't forget to include the policy documents from the car insurance. That way, later the claim process will not experience problems because incomplete documents can cancel claims automatically.

3.    Claim Submission

The required documents are complete, it's time to deliver them to the nearest insurance company branch office. This needs to be done because the car owner needs to fill out a detailed and complete claim report. You can also call the call center of the related insurance company to submit and expedite the claim process.

Not only that, now policyholders can also easily submit claims related to damage or loss of their favorite car through the application.

All you have to do is download the insurance company's official application to your smartphone . Then, submit a claim through the application. Furthermore, the insurer will respond to the claim submission by contacting the policy owner.

4.    Verification Process from the Insurance Party

Documents that have been received by the insurer, then the verification process will be carried out. One of them is by conducting a survey directly on the car, or other procedures if needed.

Only then will the insurer decide whether to approve the claim or not. When the claim is approved, compensation can be transferred to the account belonging to the insured or the car is repaired at a designated repair shop.

5.    Check Claim Submission Progress

After submitting a claim, you can always monitor its progress through the application. Generally, information in filing a claim will appear and change according to the stages of the claim.

By monitoring the progress, this will make it easier to find out how much time until the coverage fund will be disbursed by the insurer later. In order not to miss the information, it's a good idea to always check the progress of submitting a claim.

If nothing changes, you can immediately take action by contacting the relevant insurance company.

That is a general description of the insurance claim process for credit vehicles. Remember to ask the insurance company in detail. This is to avoid mistakes that make the claim process unable to be processed.

 

Things to Look For in Submitting a Car Insurance Claim

1.     Submission Deadline

In the process of submitting a car insurance claim, there is a time limit given by the insurer. The maximum time for reporting the incident is 3x24 hours. After the specified time, it is likely that the claim will be rejected.

In addition, the claim and repair process at partner repair shops usually takes three to days.

2.     Reason for Claim Submission Rejected

In the process of submitting a claim there are several things that can cause rejection or a claim not approved. Here are some reasons in general.

a. Data and documents required are lacking or incomplete.

b. Claim submission report exceeds the maximum time limit.

c. There are indications of a violation of the law.

d. Damage or loss occurs due to manipulation.

e. Incidents are not included in the risk incurred.

3.     The Need to Prepare the Cost of Own Risk

Even though the claim process has been approved, don't be surprised if you still have to pay your own risk . This fee is issued as a reminder to always be careful when driving. The existence of own risk costs can also be a consideration in whether to make a claim or not.

The amount of this own risk cost is determined by each company. If the estimated repair costs are less than the own risk costs, it is highly recommended not to make a claim.

The Need to Prepare the Best Protection for Credit Vehicles in accordance with Financial Capability

For those of you who have high mobility and need a vehicle to support daily activities, car insurance is really necessary. But, again, it must be adjusted to financial conditions, yes. Don't let this vehicle insurance add to the financial burden, excluding fixed installments, annual taxes, and vehicle maintenance costs.

For this reason, before deciding to choose insurance for a credit vehicle, it is very necessary to find detailed information about the type of insurance. Which one is in accordance with the needs and financial conditions. That way, you will be calmer in carrying it out without worrying about the possibility of default in the future.