VEHICLE INSURANCE FOR IMPORTED CARS: What are the requirements and procedures?
Imported cars are cars that come from abroad and enter Indonesia through import channels. Imported cars usually have different qualities, features and designs from local cars. Some examples of imported cars that are popular in Indonesia are Japanese, European, and American cars.
Imported cars have a higher price than local cars due to additional costs such as import duties, taxes, and shipping costs. In addition, imported cars also have a higher risk of damage or loss due to factors such as differences in climate, road conditions, and availability of spare parts.
Therefore, if you own or plan to buy an imported car, you need to protect your assets with vehicle insurance. Vehicle insurance is insurance that provides protection and compensation for damage or loss of motor vehicles due to accidents, theft, natural disasters, or other risks.
However, not all vehicle insurances accept imported cars as an object of coverage. There are some specific requirements and procedures that must be met by the owner of an imported car to obtain vehicle insurance. The following are some things you need to know about vehicle insurance for imported cars:
** Vehicle insurance requirements for imported cars**
To obtain vehicle insurance for an imported car, you must meet the following requirements:
- Have complete and valid letters from your imported car, such as purchase invoices, road certificates, vehicle number plates (vehicle registration), proof of payment of customs duties and taxes, and other documents required by customs.
- Choose the type of vehicle insurance that suits your needs and budget. There are two types of vehicle insurance commonly offered by insurance companies, namely all risk insurance and total loss only (TLO) insurance. All risk insurance provides comprehensive protection against partial or total damage to your imported car due to various risks. TLO insurance only provides protection against total damage or loss of your imported car due to certain risks.
- Know the insured value of your imported car. The sum insured is the value on which vehicle insurance premiums and claims are calculated. The insured value of imported cars is usually determined based on the market value or replacement value of the car. Market value is the selling value of an imported car on the market today. Replacement value is the cost required to replace an imported car with an equivalent new car.
- Pay vehicle insurance premiums in accordance with applicable regulations. The vehicle insurance premium is the cost that the owner of an imported car must pay to the insurance company in exchange for the protection provided. The amount of vehicle insurance premium depends on several factors, such as the type of insurance, the amount of coverage, the age and condition of the car, and the additional facilities chosen.
** Vehicle insurance procedure for imported cars**
To obtain vehicle insurance for imported cars, you must follow the following procedures:
- Contact the insurance company that provides vehicle insurance for imported cars. You can find information about the best vehicle insurance products from various leading insurance companies in Indonesia on websites such as Lifepal.co.id or Cermati.com. you can also compare prices, benefits, and services of various vehicle insurance products online.
- Fill out the vehicle insurance application form and attach the necessary documents, such as imported car papers, ID cards, and car photos. You must also provide information about the type of insurance, the amount of coverage, and additional facilities you want.
- Waiting for the verification and assessment process from the insurance company. The insurance company will conduct an examination of the papers and the condition of your imported car to determine whether the car is eligible for insurance or not. The insurance company will also determine the amount of premium you have to pay based on the value of the coverage and the risk covered.
- Sign a vehicle insurance policy and pay premiums in accordance with applicable regulations. A vehicle insurance policy is an official document that contains an agreement between the owner of an imported car and an insurance company regarding the rights and obligations of each party. Vehicle insurance policies also contain details about the protection, benefits, claims, and other provisions related to vehicle insurance.
- Maintain the condition of your imported car to keep it good and safe. You should perform regular and periodic maintenance on your imported car to prevent damage or accidents. You should also follow traffic rules and avoid behaviors that may increase the risk to your imported car, such as driving at high speed, being drunk, or using drugs.
** Vehicle insurance benefits for imported cars**
By having vehicle insurance for imported cars, you will get the following benefits:
- Get protection and compensation for damage or loss of your imported car due to various unexpected risks. You don't have to worry about spending a lot of money to repair or replace your imported car if unwanted things happen.
- Obtain additional services from insurance companies, such as towing facilities, ambulances, replacement cars, partner workshops, on-site claims surveys, warranty repairs, and others. This additional service will make you more comfortable and calm when experiencing problems with your imported car.
- Getting ease in taking care of vehicle insurance claims. You only need to report the damage or loss of your imported car to the insurance company in accordance with applicable procedures. The insurance company will immediately process your claim and provide compensation in accordance with the agreed coverage amount.
Thus the article on vehicle insurance for imported cars: what are the requirements and procedures. Hopefully this article is useful for those of you who have or are planning to buy an imported car. Don't forget to always protect your assets with the right and reliable vehicle insurance.
