Get to know All Risk Car Insurance and Tips for Choosing It

Choosing between All Risk and TLO car insurance depends on your needs, car value, and budget. All Risk insurance is more suitable for new or high-value cars because of its wider coverage.

All Risk car insurance is the type of vehicle protection that is often chosen in Indonesia. Because, this vehicle protection product offers a wide range of coverage benefits.

If you want to protect your vehicle with All Risk car insurance, choosing the best product can be a challenging task. Because, there are many insurance companies in Indonesia that offer this type of protection.

Read Now: Tips for Choosing the Best All Risk Car Insurance and Recommendations

Before knowing the recommendations for the best All Risk car insurance options , you should first understand the types of vehicle protection, their differences, and the premium costs that must be paid.

Getting to Know the Types of Car Insurance

When looking for protection for your beloved vehicle, it is important to understand the different types of car insurance available. Each type of car insurance has different benefits and coverage, so it is important to choose one that suits your needs and budget.

The following are several types of car insurance that are commonly sold on the market:

All Risk Car Insurance

As the name suggests, All Risk or comprehensive car insurance provides extensive protection for various risks that may occur in a vehicle.

The benefit coverage includes damage due to accidents, theft, or damage due to natural factors such as floods or storms, as well as protection against claims from third parties.

Read Now: What is TLO Insurance? This is the difference with All Risk

This protection product is usually more expensive than other types of insurance, because of its comprehensive coverage.

Total Loss Only (TLO) Insurance

TLO insurance provides protection against total loss of the vehicle. That means if it is so badly damaged that the repair costs exceed the value of the vehicle, you will receive a payment equal to the market value of the car.

However, TLO insurance does not protect against partial damage or theft of the car.

Differences between All Risk Car Insurance and TLO Insurance

When choosing between All Risk car insurance and TLO insurance, there are several key differences to consider.

All Risk Car Insurance

Provides protection against various risks, including damage due to accidents, theft, and natural factors.
All Risk car insurance premium costs are usually higher because the coverage provided is wider.
A type of vehicle protection that is suitable for new or high value cars.

TLO Insurance

Provides protection against total loss of the car.
TLO insurance premium costs are usually lower than All Risk insurance , because the coverage is more limited.
Suitable for cars that are old or have low value.

Choosing between All Risk car insurance and TLO insurance depends on your needs and budget.

If you want extensive protection for a new or high-value car, then All Risk car insurance is the best choice. However, if you want more affordable protection for an old or low-value car, then TLO insurance is the solution.

Read Now: Car Insurance In Asahan, North Sumatra

Recommendations for the Best All Risk Car Insurance

As previously explained, there are many insurance companies that offer comprehensive types for vehicles. One of the best choices is online insurance licensed and supervised by OJK Roojai.

This online insurance provider company officially registered with the Financial Services Authority (OJK) has proven to be a popular insurtech in Thailand. With its solid reputation, Roojai offers reliability and convenience in the insurance policy purchasing process.

Not only that, Roojai also offers affordable prices and the ease of customizing policies to suit your needs. With its user-friendly application , you can buy a policy anytime and anywhere.

So, don't hesitate to protect your car with the best insurance from Roojai!

All Risk Car Insurance Premiums and OR Fees

When choosing All Risk car insurance, it is important to understand how the premium is calculated. This is because the premium calculation is usually determined based on several factors, including the value of the car, the age of the driver, location of residence, and previous claim history.

Insurance companies use this data to assess your risk as a driver and set premiums accordingly. The higher your risk, the higher your premiums.

In addition to the insurance premium that must be paid, there is also the Own Risk (OR) fee or known as retention that needs to be considered. This fee is the amount of money that must be paid by yourself if a claim occurs.

The lower the OR cost, the higher the premium that must be paid, and vice versa. Therefore, it is important for you to find a balance between OR costs and monthly premiums to fit your budget.

Tips for Having the Best All Risk Car Insurance

When buying All Risk car insurance, there are several tips you need to consider to get the best protection. Among them:

1. Amount of premium price

Compare premiums from several insurance companies to get the best product that fits your budget.

2. Reputation of the insurance company

Choose an insurance company that has a good reputation and has been proven to provide satisfactory service to customers.

3. Policy terms and conditions

Be thorough and careful when reading the terms and conditions of the policy. Including insurance coverage and exclusions, so that you don't find any surprises when you have to file a claim later.