You can try it right away, here are three ways to choose cheap car insurance that can speed up the process of choosing the best protection for your favorite car.
1. Research as much as possible
Before deciding to buy insurance from any party, research as much as possible. You can do research, such as asking questions via social media or looking for credible news sources.
The easiest and most practical way is to ask the car community you have. For example, you have the latest Mazda hatchback model, check out the Mazda community on Instagram and ask the owner about what insurance is commonly used by its members.
“Minor” research like this can help you gather as much information as possible before buying insurance premiums from one party/company. Why is research important? Because cheap car insurance is no less important than the car itself. This is a long-term investment that can make your life more peaceful in the future. The problem is, choosing the wrong insurance can be a big blunder for your future.
So, mature your research first before deciding which insurance from party A is better than party Z.
2. Types of cheap car insurance
Tip number two is also a reflection of the importance of research. If you do your research properly, you will already know that there are two types of cheap car insurance that are common in Indonesia, namely:
- All Risk Insurance (Comprehensive)
- TLO Insurance (Total Loss Only)
- And if you do not understand the difference between the two types of insurance above, it means that your research is not mature enough. The difference between these two insurances can be seen from the name.
- All Risk (comprehensive) insurance, as the name implies, provides total protection for your car. No matter how small the damage, surely you can claim the damage if you want. Because even minor damage is covered, let alone big ones? Definitely well protected.
- TLO insurance does not provide 100 percent protection against damage to your car, this insurance can only disburse insurance if your car is damaged more than 75%. Below 75% percentage, your car is not covered by the insurance company.
- Next, use this formula to get the best insurance for your favorite car.
3. Choose insurance that suits the condition of the car
All Risk or TLO has different benefits. But if the conclusion is drawn, both types are equally good where the benefits of both are equally strong.
Instead of being confused about choosing a good insurance, it’s better to use this formula so you don’t have to bother deciding.
Based on the age of the car. If it’s under 10 years old (still new), All Risk is more appropriate–if the car is over 10 years old or more, TLO is better.
Based on domicile security. If the crime rate in your domicile is high, TLO is more ideal because the premium is cheaper than All Risk.
Based on the density on the highway. Congested highways equal a high accident risk. In this condition All Risk is more ideal than TLO because minor accidents (eg being hit by a reckless driver) are more threatening than major accidents (eg vehicle theft).
Based on the budget and type (price) of the car. The last formula is budget adjustment. If your car is expensive, there is no reason not to use All Risk insurance.
It’s easy? After knowing how to choose cheap car insurance, try entering Traveloka Product as one of the candidates for Indonesian cheap car insurance for your research. In collaboration with Adira Dinamika Insurance, which has partner workshops spread throughout Indonesia, this insurance product can be tried.