5 Types of Motorized Transportation Insurance Collateral

5 Types of Motorized Transportation Insurance Collateral

Insurance is one of the protection products currently needed by individual means of transportation. This matter is not free from the many types that may not be well interwoven in the middle of the expedition.

To estimate the costs incurred as a result of that, insurance comes as a financial savior. With the existence of insurance, some of the payments that arise become the trust of the insurance industry.

There is also a type of motorized transportation insurance collateral that is usually provided by the industry as the next.

Insurance is one of the protection products currently needed by individual means of transportation. This matter is not free from the many types that may not be well interwoven in the middle of the expedition.

To estimate the costs incurred as a result of that, insurance comes as a financial savior. With the existence of insurance, some of the payments that arise become the trust of the insurance industry.

There is also a type of motorized transportation insurance collateral that is usually provided by the industry as the next.

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5 Types of Motorized Transportation Insurance Collateral

There is also a type of motorized transportation insurance collateral that is usually provided by the industry as the next.

1. Collateral A: Loss in whole or in part

This collateral is handed over to the insured who insures the car. Injuries will be paid for any type of payment that results in a loss for the insured. Not only that, destruction and loss are also the responsibility of the insurance industry concerned.

The amount of the warranty number submitted does not exceed the number of the insured car. If the price of the car at that time was Rp. 300 million, then the warranty fee given by the industry for a total loss was less than Rp. 300 million.

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2. Collateral B: Loss maximum one time

The industry provides compensation for injuries for repair fees that may arise as a result of the destruction or disaster that occurred. However, the guaranteed loss is only one event, nothing more.

That means if the car in question wants to reclaim the total loss, until the claim is automatically rejected. Dispensation if the insured cars are different, but are in the same industry.

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3. Collateral C: Loss of third-party pressure impact

The insurance industry is willing to pay compensation for injury for damage or loss suffered by the policy. It is stated in it if the loss arises as a result of pressure from a third party. For example, when the insured accidentally crashes into another car, the compensation for injuries demanded by other drivers becomes the responsibility of the insurance industry.

If the damage that occurs is more than 75% or the car is claimed to have disappeared and is not found within a maximum period of 60 days, then this loss is classified as a total loss. The insurance industry will take over this loss as well as those listed in the policy determination.

4. Collateral D: Total loss

The total loss or destruction that causes motorized transportation equipment to be unusable is also the responsibility of the insurance industry. This is also stated in the policy policy when entering the means of transportation in insurance products.

There are also losses that are not listed in the overall loss type, so the compensation payment will explore other types of collateral.

5. Collateral E: Guarantee only for third parties

The last collateral is the type that is only given to third parties. In this case, the warranty payment is submitted if the third party demands compensation for injury from the insured whose vehicle is included in the insurance policy.

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The amount of injury compensation payable is at the discretion of the relevant insurance industry. But what becomes a memo is that the compensation fee will not be the same as the amount of the correction fee for the damage felt by a third party.

 

Circumstances to Pay Attention to when Submitting a Claim

submit a vehicle insurance claim

Fulfilling the claim submission deed is very important to simplify the claim process. However, there are several things that must be observed so that the claim is not rejected, including:

1. It’s not a deliberate factor

If the customer is proven to have deliberately violated the car to get compensation for injuries from the insurance industry, the claim submission will be rejected. For that, don’t make a disaster whose character is exaggerated so that the payments that have been paid from individual pockets are exchanged by the industry.

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2. Not a violation

Submission of claims is obtained if the disaster arises because of a literal event that occurred in the expedition. If an accident is caused by an individual’s behavior, for example breaking the stake and then the route or parking the means of transportation in a careless way, there is the ability for insurance claims to be immediately rejected.

3. Forcing means of transportation to be driven

The emergency injury change fee is not reimbursed if the means of transportation is urgently driven when the situation is no longer appropriate. In terms of the situation the engine is worn out or the spare part is defective. It is better to take the means of transportation to a partner repair shop to get intense corrections if the situation is not suitable for walking.

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4. Driven by a person who does not have a driver’s license

Whoever drives your individual means of transportation, make sure the person has a driver’s license. If an unfavorable event occurs during the expedition, such as an accident, then the insurance industry will want to pay for the compensation for injuries that occur. But if the helmsman does not have a driver’s license, do not be disappointed if the claim for the damage that has occurred is simply rejected.

5. The helmsman lies at the bottom due to liquor

Consumption of alcoholic beverages, drugs, or other addictive substances before driving can turn off the safety of the helmsman. If an accident occurs as a result of this, then the costs are not the responsibility of the insurance industry.

Avoid Claims May Be Rejected

Although insurance provides collateral in the form of injury, not all claims can be obtained. There are several things that are included in the dispensation. You should pay attention to some of these things to avoid any possible antipathy in claims later on.