Do you need vehicle insurance? The question must be spinning in your head if you just have a car.
Widya Yuliarti, Financial Planner Finansialku.com said that vehicle insurance is important to be owned by the vehicle owner. The reason is that vehicle owners do not have to spend their money to repair their vehicles.
Agustina Fitria, OneShildt Financial Planner said the vehicle owner should be owned by the vehicle owner. So they do not have to bother breaking down savings for car repair after an accident.
“The price of car repair is expensive, insurance can secure your financial flow,” Fitria added.
The two financial planners agreed, the vehicle owner must buy insurance at the same time as buying the car. Or, they can buy insurance a few days after buying a car.
However, those who buy a car with a installment payment system do not need to bother buying insurance. Because, the leasing party has included insurance products as vehicle protection during the installment period.
Same with choosing health insurance, you must selectively choose vehicle insurance. So that you are not made difficult or sorry in the future.
Use insurance that applies in a subscription workshop
Your first step is to find out which service shops to receive any insurance products. How, you can ask directly to customer service or the mechanics in the workshop.
Agustina Fitria, OneShildt Financial Planner said this method makes you do not need to change the workshop. So, you don’t need to worry when the car has to stay overnight for repairs.
The second step, you do a product selection if the workshop receives more than one type of insurance. Widya suggests you should choose insurance products as needed.
For example, you want all vehicle damage to be covered by insurance, then choose the type of all risk insurance. If you want insurance to cover severe damage and loss then choose Total Lost Only (TLO) insurance.
Widya explained that the more you want, the greater the premium to be paid. So, in addition to being selective, you must also check your financial capabilities.
Fitri recommends that you extend vehicle insurance once a year. Because, premiums and insurance coverage value falls following the decline in prices for cars every year.
But the story is different for an old car, usually the insurance company will raise the value of the premium. The reason, the insurance predicts the vehicle needs a lot of repairs.
The last step, you are required to study the insurance policy options thoroughly. Make sure, you are aware of the process of filing a claim, so that problems do not occur in the future.
In addition, you also have to make sure the insurance product issuer is not fake. So, you do not get fooled or harmed by the insurance company.