3 Benefits of All Risk Car Insurance and How It Differs From TLO
All risk car insurance protects you against damage, theft, accidents, riots and disasters. See its 3 main benefits and how it compares with TLO coverage.
Three types of insurance are commonly known: life insurance, general (loss) insurance and health insurance. General insurance protects valuable assets such as cars, houses and so on. All risk car insurance is meant to secure and protect your vehicle against any risk of damage, loss or accident that can strike at any time. The benefits of car insurance depend on the type of product you choose.
Types of Car Insurance Policies
- Comprehensive (All Risk) Insurance
This type of policy compensates for losses from accidents, whether small or large. On top of that, every risk of damage and loss is covered too.
- Total Loss Only (TLO) Insurance
This type covers losses from fairly severe accidents, with damage of at least 75%. Besides compensation for accidents, loss through theft can also be covered.
- The Most Complete and Widest Protection
Ask which type of car insurance suits drivers best, and most people end up choosing all risk car insurance. The reason is that its protection is comprehensive and the widest of any policy. The compensation covers not only large-scale loss or damage, but even the smallest mishap.
- Protection Against Riots
Big cities like Jakarta are prone to riots. Unrest can turn into anarchic acts that end in vandalism. Passing cars can become targets, and the car you drive could be one of the victims. With all risk car insurance, that risk is manageable, because damage from vandalism is covered. With this type of policy, you can feel safe even in the worst case.
- Protection Against Disasters
Natural disasters are another unpredictable risk that can strike at any time. Floods, landslides and falling trees are a constant worry, even more so if you live in a disaster-prone area. A risk this large calls for the best possible solution to cover the losses a disaster causes. The benefits of all risk car insurance can be the right answer to the damage these disasters can bring.
Because all risk means covering every risk, the benefits of this type of car insurance include full protection, from the smallest damage to financial losses caused by riots and disasters.
