Can All Risk and TLO Insurance Policy Combine?

Can All Risk and TLO Insurance Policy Combine?

No need to be confused. You can do a combination of TLO and All Risk. For example, if an insured car has just come out of the showroom or maybe you are crediting a used car, there is no harm in purchasing an All Risk insurance policy in the first and second year. After that, the car can be insured by buying TLO insurance policy in the third year and so on.

The financial burden is proportional to the risk of damage being an important consideration. The new car will definitely require a relatively higher cost even if the damage is only minor damage. As the age of the car getting older, there is no harm in switching to Total Loss Only.

Are All Risks Protected with All Risk Car Insurance?

The amount of insurance premiums described above is called a pure premium. There are some risks that are not covered by All Risk car insurance. You can decide to expand your car insurance coverage. This coverage covers what might happen to the car caused by:

1. Floods, typhoons, storms, and water damage.

2. Riot.

3. Earthquake / Tsunami.

4. Sabotage / Terrorism.

5. Third Party Liability (TPL).

6. Driver Accident.

7. Passenger Accident.

8. Legal Responsibility to Passengers (TJHP).

9. Authorized Workshop.

Damage or loss due to the above things is very likely to happen in Indonesia. For the flood alone, for example, every year the capital's people must be willing to deal with this one problem. The extent of the extent of protection is different. To find out the full extent of the current protection extension rate, you can see it in OJK Circular Letter no. 6 / SEOJK.05 / 2017.

To calculate the car insurance premium of TLO and All Risk coupled with the extension of protection, you just add the insurance rate with the rate of expansion of the protection that you take then multiplied the value of the car.

For example, Toyota Avanza variant 1.3 G M / T worth Rp206 million that you have registered in insurance TLO with a premium of Rp782.800 (rate 0.38%). If you add a protection extension for flood risk (prevailing rate 0.075% -0.1%) as well as terrorism and sabotage (rate 0.035% applicable), the fees payable: