All Risk Car Insurance: Definition and costs you should know
All Risk Car Insurance: Understanding and Costs - The more affordable the price of cars in the market and the priority of mobilizing citizens make these vehicles no longer included in the tertiary (exclusive) category of goods.
Almost everyone needs this individual transportation as a special mobilization. In fact, it's not just the rich who own a car, the middle class people are also now starting to make a car an important necessity.
Therefore, it has become commonplace that we have to make whatever protection is needed in our lives, such as health, houses, including vehicles. So what protection is right for our car? There are two vehicle insurance options that you can choose from, all risk car insurance, and TLO (overall loss only).
Well, in this article, I will give some reasons why all risk
car insurance is the best, including what the risks guaranteed by this
insurance cover. Is it true that all risk car insurance is better than TLO?
What is All Risk Car Insurance Understanding?
Oh yes, all risk car insurance has another calling. Another name for all risk car insurance is comprehensive car insurance in English, or in-depth in Indonesian.
All Risk Car Insurance Benefits
What is Covered or Guaranteed by All Risk Car Insurance?
- · Accident, clash, collision, overturn, slip or fall
- · All someone's evil actions
- · Robbery, either without or with violence
- · Fire and lightning
- · All due and risk along sea crossing by ferry
- · Wheel damage due to accident
- · Crane fees and delivery to the nearest repair shop
- · Exceptions to the all risk insurance policy
List of the Best All Risk Car Insurance Companies and Products in Indonesia
Then, what is good car insurance? The following is a list of the best all risk car insurance 2020 to 2021 or 2022 in Indonesia that we have collected, hopefully with this list your car can be protected perfectly.
1. ABDA
ABDA's all risk car insurance provides detailed protection
for types of passenger vehicles, freight vehicles, and buses. The optimal
vehicle value covered by this insurance is IDR 1.5 billion with an annual
premium. There is a wide range of protection covered by ABDA, including the
risk of flooding, earthquakes, chaos or riots, terrorism and sabotage.
Legitimate workshops that deal with car damage spread throughout Indonesia.
2. AIA
PT AIA FINANCIAL ("AIA") as one of the most important life insurance companies in Indonesia and as a life insurance company registered and monitored by the Financial Services Authority. AIA in Indonesia as a subsidiary of the AIA Group.
AIA offers a variety of insurance products, including insurance with a Sharia concept, which includes life insurance, health insurance, personal accident insurance, investment-related insurance, employee welfare programs, and the Pension Fund (DPLK) program.
Some of these
products are offered by more than 6,000 expert and professional salespeople
through various distribution channels such as agency, Bancassurance and
Corporate Solutions (Pension and Employee Benefits).
3. Adira Insurance Syariah
In addition to offering conservative vehicle insurance, Adira has a sharia insurance product called Autocillin Tulus. This product provides collateral and protection for the car in accordance with Islamic law so that it is free from the elements of usury.
All risk sharia car insurance is
equipped with the best features, such as Emergency Roadside Assistance,
Autocillin Mobile Claim Application, and Autocillin Mobile Service. Several
other benefits obtained from Autocillin Tulus include free shipping to the
workshop, free vehicle registration extension, and contact workshops spread
throughout Indonesia.
4. Allianz
Mobilku Grand as an all risk car insurance product, offered by Allianz. This insurance provides a complete and hassle-free solution for car protection. You can enjoy a complete variety of features when you buy this product.
For example, the insurance faction will provide compensation in the event of a vehicle robbery by an individual driver, there is a critical contribution for a full 24 hours, and taxi facilities if there is damage on the road that makes the car stop.
If you are in a flood-prone area, then you don't
need to worry because Allianz will provide flood protection to water hammer. Oh
yes, the widespread relation workshop makes it easier for you to do vehicle
updates at the closest location from home, you know.
5. Avrist
If other insurances have a car and driver coverage object (plus passengers if you use extended coverage), Avrist OTO comprehensive car insurance has a specificity in terms of the object of coverage.
In addition to motorized vehicles carrying passengers, the object of this insurance coverage includes buses and tourism vehicles, motorized vehicles transporting goods, and motorcycles (if as an integral part of the car).
Yes, you read correctly,
motorbikes can enter the object of this insurance coverage as long as they
enter/as a unit with the car. Apart from these peculiarities, you can also get
a variety of additional services such as roof tiles!
6. AXA Independent
Through AXA Berdikari Mobil Comprehensive, the insurance company AXA Berdikari provides relief for several customers to obtain collateral for compensation for renewal costs, whether major or minor damage to the risks in the policy.
You don't have to think about the costs if there is car damage caused by various clashes, collisions, flips, slips, someone's evil actions, robbery, even fire. There is protection on the legal liability of the 3rd faction which makes you more calm already covered by this insurance.
Not
only tow service, all problems that often occur on the road such as flat tires,
hot engines, battery problems and missing keys, will be served 24 hours a day
by insurance. With a coverage period of one year, AXA Berdikari Mobil
Comprehensive covers all vehicles with an optimal age of ten years.
7. BCA Insurance
BCA all risk car insurance provides compensation for various risks such as collisions, malicious acts, robbery, fire, and all other losses. There is complete expansion collateral including hurricanes, hurricanes, hail, floods, and landslides.
With affordable BCA Finance and Insurance all risk car insurance costs, reduced premium payments, and a fast and easy process, this car insurance from BCA is quite a reference.
The cost required to obtain the
benefits of this insurance is higher than that of TLO insurance, but it is
sufficient for the benefits obtained. Customers need to pay a fee of IDR 250
thousand to IDR 1 million depending on the package chosen.
8. Auto Guard
No less than other comprehensive car insurance, Garda Oto
all risk car insurance as one of Astra's products provides many additional
features in addition to special all risk insurance. These additional features
include home surveys and pickup delivery services, vehicle updates in all Garda
workshop networks, 24-hour tow and accident contributions, genuine spare parts
collateral, and fast and integrated submission of Garda Oto insurance claims.
Purchasing Garda Oto car insurance can also be done online, making it easier
for you to get car protection from Garda Oto.
9. Intra-Asian
The special concentration of Intra Asia comprehensive car insurance is protection from damage or loss caused by fire, lightning, accidents when using legal crossings (ferries) under the supervision of the director general of land transportation, to violent robbery.
Supported by the
existence of many workshop relationships spread throughout Indonesia, you will
not experience difficulties when you have to submit a claim.
10. Jasindo
Jasindo as a state-owned insurance company, aka owned by a state-owned company, must have car insurance options that are not inferior to other products. Comprehensive insurance called OTO Plus provides detailed protection collateral for individual vehicles.
You don't have to worry about damage or accidents, whether light or heavy, because everything is guaranteed by insurance. Interestingly, Jasindo's all-risk car insurance protection can be used for cars up to 12 years old.
In fact, the optimal average car age that can
be guaranteed by comprehensive car insurance is only ten years. Not only that,
the affordable annual premium makes this product even more attractive, you
know.
11. MAG
Magna Mobil comprehensive car insurance comes to reduce your
burden when you experience a loss due to vehicle damage caused by collisions,
slips, vehicle losses, and others. What's interesting is that, apart from the
vehicle and the passenger or driver, this insurance covers the value of the
vehicle and its equipment, such as air conditioning and audio mechanics. Then
the total amount of coverage that you can be called is completely full without
deduction.
12. Malacca Trust
In addition to protecting the car from various risks of damage and loss, comprehensive car insurance from Malacca Trust Insurance provides clinical benefits in the form of costs for wound healing and driver recovery. Plus that added benefit, you and your car will be even more secure.
Malacca
Trust Insurance is popular for its transparent benefits which include a
replacement car feature and an authorized workshop.
13. Pan Pacific
By having Pan Pacific all risk car insurance, you will get detailed protection for the car you have. Starting from car damage caused by collisions, clashes, flips, to the responsibility of the 3rd faction, even crimes and robberies that cause the car to disappear or be destroyed are covered by this insurance.
There is an expansion of coverage that includes
collateral in earthquakes, hurricanes, storms, landslides, theft, and riots
which makes it more comfortable for you to have comprehensive insurance offered
by Pan Pacific.
14. Mercury
There are three options for Raksa's all-risk car insurance package that you can decide on, namely Raksa Gold Club, Raksa Silver Club, and Raksa Car Club. Raksa Gold Club provides coverage above US$ 70,000.
Raksa
Silver Gold provides coverage under US$ 70,000. And Raksa Mobil Club provides a
means for customers to submit insurance claims from the closest location. These
3 types of insurance provide the benefits of easy insurance claims and customer
care services 24 hours a day.
15. Reliance
Reli-OTO comprehensive car insurance from Reliance insurance guarantees from the risks stated in the policy and the extension of benefits which includes legal liability for the 3rd faction, personal accident, driver and passenger recovery costs, and other risks that have a force majeure nature.
With a valid repair shop and towing service 24 hours, you don't have to worry
if your car gets damaged in the middle of the trip.
16. Simas Insurtech (Sinarmas)
Sinarmas all risk car insurance provides full protection for
cars. In addition, this Sinarmas car insurance guarantees legal liability for
the 3rd faction. There are other coverage benefits such as assuming the risk of
a collision on the road, someone's malicious actions, robbery, fire, accidents
along the ferry crossing, and towing fees of a maximum of 0.5% of the total
coverage.
17. Sompo Insurance
Different from other all-risk car insurance, Sompo Insurance
provides long-term car protection for a period of 2 to five years and an award
bonus in the form of a premium return of up to 45% if there is no claim until
the end of the insurance period. Remarkably, this insurance is equipped with
the Sompo Drive program which plays a role in monitoring the driving behavior
of the wearer telematically.
18. Tugu Insurance
T drive, this comprehensive car insurance product from Tugu Insurance comes with protection starting from Rp. 33,000/month and service claims on several basis starting from, web, program, WhatsApp or telephone, to off-line service at tshop branch offices.
With the breadth of their claim
network, it can be emphasized that your claim experience will be faster and
more comfortable. But that's not the only benefit you can get, this
comprehensive insurance has a special service in the form of Trex - a 24-hour
emergency roadside assistance service that is ready to help you in critical
conditions.
19. ACA
Coming with 3 package options, Otomate Smart, Otomate, and Otomate Solitaire, comprehensive car insurance from ACA provides special services in the form of alternative cars (max. 5 days). With this service, you don't need to be ignorant of looking for other transportation alternatives when your car is completely destroyed or needs an update for more than one day.
You can also enjoy the new for old feature, unit change service when your new car which is the same age or maybe less than six months (especially for the solitaire package, the max car age is 12 months) from the date of purchase is kidnapped or completely destroyed.
You can also enjoy several other services
such as cranes, ambulances, service centers, and warranty services! Oh yes, if
you tend to choose sharia-based insurance, this insurance has a special package
called Automate Syariah all risk car insurance.
20. Adira
Adira as one of the best insurance details in Indonesia has two other packages for comprehensive car insurance types, namely the Autocillin Comprehensive Package and the Autocillin Comprehensive Plus Package. What is the scope of protection for the 2 insurance packages?
In addition to car damage and loss, you can also get protection for 3rd party legal liability (third party liability) to personal accident (individual accident). In addition to the wide scope.
you can also enjoy a variety of other interesting features such as vehicle registration renewal service, repair shop support which is accompanied by a six-month guarantee for all tasks and a guarantee on the originality of spare parts, pick up delivery services, towing cars, ambulances, to roadside emergencies. assistance.
Plus additional services in the form of an Autocillin
mobile claim application and service, you can submit a claim via a smartphone
or visit mobile service units that are spread out at several vital points.
Dissimilarity of All Risk Car Insurance and TLO Car Insurance (Overall Loss Only)
The most fundamental difference between these two insurances
is in the scope of protection.
TLO insurance, aka overall loss only, will guarantee your
car from damage of more than 75% or if it disappears due to being kidnapped.
This means that if your car is scratched due to being hit by another vehicle,
or the rearview mirror is broken when entering the alley, the two damages are
not guaranteed by the insurance faction because the percentage of damage is
below 75%.
All risk car insurance has a higher premium than TLO, but
your car is protected from all risks of damage, be it small or large for any
reason, so even if the damage to your car is below 75% you can still file a
claim with the insurance faction.
All Risk Car Insurance Benefits
By using all risk car insurance, you will get 3 benefits
that you cannot get with other types of car insurance, for example:
1. The car is completely protected
With this comprehensive car insurance, you don't have to
worry about the risk of damage that can hit your car because the size of the
damage is not the most important aspect of the claim being accepted or maybe
not, in contrast to the TLO type of insurance which requires car damage above
75%.
2. Broader scope of benefits
In contrast to the TLO which only covers the benefits of
damage and loss in total, comprehensive car insurance has the option of
extending the collateral. With the expansion of the collateral, you can protect
your car from special risks such as natural disasters, chaos, to the liability
of the 3rd faction if the trigger of an accident results in injury to other
drivers.
3. Makes the mind calmer
Because all risk car insurance protects you from all risks,
you don't need to be afraid or worried when something bad happens to your car,
the burden of renewal fees does not haunt your wallet. Life becomes more
comfortable and calm.
All Risk Car Insurance Fees and Prices
How much does all risk car insurance cost? With a wider
scope of protection, it is natural that comprehensive car insurance premiums
are a bit more expensive than TLO car insurance. However, don't be afraid, you
don't need to worry because the cost of this insurance premium has been
specially regulated by the Financial Services Authority (OJK) through leaflet
no.6/SEOJK.05/2017.
Through the leaflet, the cost of all risk car insurance
premiums is divided into 5 groups and 3 regions. Each region has another upper
and lower limit for the all risk car insurance group and what is the price. The
following is a calculation table that you can use as a reference to calculate
the price of all risk car insurance premiums from 2020 to 2021 or 2022:
Example of Replication of Steps for Calculation of All Risk Car Insurance Premiums
By referring to the table of upper and lower limits on the all
risk car insurance rate above, you can calculate the replication of the premium
costs that you need to spend. The trick is not as difficult as you think. Come
on, let's try!
Suppose you live in the DKI Jakarta area and take car credit
A with a price tag of Rp. 400,000,000. It means the premium cost for all risk
car insurance that you need to pay at the price:
2.29% x IDR 400,000,000 = IDR 9,160,000
This means that you have to pay an all risk car insurance
premium of IDR 9,160,000/year. Remember. This fee is calculated without other
costs such as stamp duty, administration, and others.
Several types of Expansion of Car Insurance Benefits
If you buy all risk car insurance, there is an extension of
the benefits of car insurance. Then, what does this all risk car insurance
benefit cover?
1. Hurricanes, Floods, Hurricanes, Hail and Landslides
Hurricanes, floods, storms, hail and landslides as
unexpected natural events that can destroy a car at any time. The damage to a
car caused by any of these things can be enormous, and require quite a lot of
renewal costs. It can even be almost the same in the price of the car. Nach, to
take into account the greater loss, you can add to the expansion of insurance
benefits to protect your car. The expansion of the benefits of this insurance
is really suitable for those of you who are in flood-prone areas,
2. Earthquakes, Tsunamis and Volcanic Eruptions
In addition to the natural events referred to initially,
earthquakes, tsunamis and volcanic eruptions can cause chronic car damage. Did
you think, how much is the service fee that is important for you to prepare to
return the car to its previous state? Wow, it could be that the precarious
funds you have can run out right then and there. Fortunately, there are a
number of insurance benefits that can be taken to account for some of these
things.
3. Riot and Chaos
Actors of riots and chaos on the road never choose which car
they want to destroy. If this is the case, your car could be the victim. To sue
the car wrecker for damages seems pointless. Herein lies the virtue of
extending the benefits of car insurance that backs up chaos and chaos.
4. Terrorism and Sabotage
Almost similar to chaos, no one can avoid when a car becomes
a victim of terrorism and sabotage. You can use extended insurance benefits for
terrorism and sabotage to make full and complete car cover.
5. Legal Responsibilities of the 3rd Faction
If you often do negligence on the road, then you need to
have this insurance extension in the form of 3rd faction legal liability. If
you are careless while driving and result in a 3rd faction loss, then the
insurance will exchange the cost of compensation for the 3rd faction. You can
also be more calm while driving on the road.
6. Personal Accident
Using the extended benefits of personal accident insurance
can protect passengers from a possible car accident. Starting from disability,
loss of limbs, until the cost of healing will be covered by the insurance
faction.
Example of an All Risk Car Insurance Policy
The following is an example of an all risk car insurance
policy that you need to know:
OVERVIEW OF LIABILITY
Police No. : ……………………………………….. (New / Extension*)
Insured Name : Bayu Aji Purnomo
Address of the Insured : Jalan Batu Mulia no 15 South
Jakarta
Coverage period: starting from January 20, 2020 to January
20, 2020
Object of Insured : 1 unit Suzuki Ertiga, Silver Metallic
Color, M/T
Police Number : B 431 BK
Brand / Type / Year of Manufacture : 2018
Engine Number / Frame Number : B23457570-MXK
Number of seats : 7 seats
Carrying Capacity : 7
Vehicle Type : Minibus
Additional Equipment: Non Standard Radio Tape, Racing
Wheels, and Window Film
Vehicle use: Individual
Insured Price : IDR 250,000,000
Motorized Vehicle : Yes
TJH In 3rd Faction :-
Additional Equipment :-
Condition of Insured: In-depth Collateral
Additional Collateral:
Driver Personal Accident : -
Passenger Personal Accident : -
Legal Responsibilities
on Passenger :-
Premium Rate : 2.31%
Premium Calculation - Motor Vehicle Premium : IDR 8,085,000
- TJH Premium on 3rd Faction : -
- Additional Collateral :-
- Policy fee: IDR 250.000
- Stamp fee: IDR 10,000
Overall: IDR 8,345,000
Made in Jakarta
On January 15, 2020