Want to Insure Old Car? Understand Some of These Tips to Keep You From Losing Money

The average old car owner is an antique car collector who is very affectionate and cares about his vehicle. There is satisfaction for the owner of this vehicle if you can take care of it well.

The amount is not much. Therefore, it is very important to register it into the insurance program. This is done as part of the car's caring concern. Here are some tips to consider in choosing the right old car insurance products.

Understand It Before Choosing Insurance for Old Car. Let no one choose, here are some things to note when choosing an old car insurance.

1. Understand Protection from Comprehensive Insurance / All Risk

Although the premium costs are high enough, most customers prefer to choose this type of insurance with a partial or total compensation guarantee for damages. For example, when an accident on the highway, hit by fire accident, theft, or other accidental events.

2. Understand Insurance Protection Total Loss Only (TLO)

This insurance can only make a change of claim if the related customer car is damaged more than 75% due to natural disaster or other problems. If the damage is less than 75%, the insurer does not pay the losses faced and charged to those who own the car.

3. Compare Some Services from Insurance Providers

Get the best insurance provider by comparing it. To get one, consider the following.
  • The premium value to be paid compared to the protection received.
  • Advantages and disadvantages of the type of insurance offered by the service provider and compared with the features and claims process.
  •  The number of customer and branch owned by the service provider. The more customers who use the service and the many branches mean the insurance service company has good financial management and services.

Observe Factors Causing the Value of Old Car Premiums
Please note that the premium value to be paid is determined some of the following.

1. Car Price

The price of the car is directly proportional to the size of the premium. That is, the higher the value of the car, the overall premium that must be paid per month is also more expensive. If the car is insured is an antique car, the premium price can be more expensive because the price of equipment or auto parts are also rare and expensive.

2. Year Car

The year of the car is also directly proportional to the premium value. So, the older the age of the car, the premium value paid higher or in accordance with the interests of the customer.

3. Plate Type

The type of car plate in accordance with the region also affects the amount of premium because it is associated with the entire workshop in the city where the car plate comes from.

Old Car Insurance

Use Used Car Insurance? Here are the advantages

The price of new and used cars is very much different. Just to illustrate, every year new cars experience shrinking after-sales price of approximately 10%. No wonder that most people want to buy a used car because it wants to be a car with a more oblique price.

Although the status of the car is a former, still it must be protected car insurance car is the most moving assets that are most vulnerable to accident or loss. Ideally, in choosing a used car insurance, choose a 3T auto insurance that fits 3T: best when used, best in terms of protection, and best of price.

Benefits of using the 3T principles above, namely:
  • Gain comfort, calm, and avoid sufficient financial loss due to damage or loss of the car.
  • There are other additional benefits, such as facilities or privileged services from insurance companies to their customers.

Understand the Treatment of Used Car and New Car Insurance

theory, process and treatment between used and new car insurance are the same. However, in practice, the management of used car insurance is a bit longer than the new car and the premium is also slightly higher. Therefore often makes the former car owners are reluctant to take care of insurance.

Old Car Insurance

The process of used car insurance follows the following flow.

To estimate the market price of car seken when insured by the insurance. This is slightly different from the new car whose price has fixed alias definitely based on the price of time of purchase on the road (OTR).

The insurer will also conduct a survey of the car that was about to be insured to measure the risk that includes physical surveys, including pre-existing damage to check the damage to the existing car seken previously.

To make it easier to get used car insurance, one easy way is to buy a used car in an official manufacturer showroom.

The Benefits of Buying a Used Car in an Official Manufacturers Showroom

Buying used cars through official showrooms, such as Mobil 88 (Astra Group), AutoSafe (Hyundai), Indomobil Used Car (Indomobil Group), and BMW Used Car Center, have some benefits compared to those not from official showrooms. These benefits include:

Used cars purchased through the manufacturer's official showroom are usually not accompanied by risk surveys, so the process of insurance is faster.

The insurer has the assumption that the car from the manufacturer showroom has been reconditioned.
The insurer can make sure it is because the used car sold in the manufacturer showroom has been reconditioned so that the situation is considered good and no longer need risk surveys.

It is important to note also that the age of the vehicle can also be a car consideration points can be insured or not. Each insurance company has a different policy in determining the maximum age of used car vehicles that can take the insurance. There is a maximum of 7 years and some are up to 10 years.

Insurance Products that Match So Mainstay Car Old and Its Benefits

The greatest risk of a vehicle is the time leading up to a religious holiday. Regardless of new or used cars, the risk of accidents during homecoming or theft is increasing. Here are some tips on choosing the right insurance product.
  • Check and make sure the product will be purchased. Usually the insurer can provide leeway for its customers to obtain All Risk car insurance protection with an additional charge for the old car.
  • Consult also to the insurer, whether the owner of an old vehicle whose vehicle age is more than 8 years and maximum 10 years can still get special insurance protection Total Loss Only (TLO) suitable for old car insurance. If yes and the risk of your vehicle is relatively minimal, this product is suitable for take.

If your choice is a type of insurance TLO, you should propose the extension of collateral that can be added and of course with the addition of the appropriate premium payment for old car insurance, namely:
  1. Extension of third party legal liability.
  2. Melee, terrorism, and sabotage and natural disasters.
  3. Personal Accident for riders and passengers.

Although Not All Risk Complete, Pay Attention To The TLO Here
On the basis of consideration of cheaper premiums and relatively low risk, many vehicle owners are choosing TLO type protection with the following benefits.

  • If there is a risk of loss, will be reimbursed by the insurer. Usually replacement is lower 10% of the actual price.
  • If there is an accident risk that causes damage of over 75% and the condition of the car is severely damaged until it can not be repaired again, the insurer will provide full replacement.Premium rates will be much cheaper.
  • In the event of an accident adversely affecting another person with the addition of an extension of the Liability Assurance (TJH) warranty, the insurance company will provide compensation suffered by such third party or third person.
Insurance Gives Comfort
Having an old car in addition to physical care also need protection. The presence of old car insurance can make the car maintenance budget is controlled and provide comfort in driving. You can choose TLO insurance products or All Risk car insurance according to the needs based on the above reviews.

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