A closer look at Car Insurance 2
The previous article has informed about RSMD and SRCC terms as part of Car Insurance. Car Insurance is not a life time insurance, that means Car Insurance has a limit of time and service. In common, there are two kinds of circumstances that may cause the end of Car Insurance indemnity.
TLO (Total Lost Only)
As mentioned above, Car Insurance is NOT a lifetime term insurance, TLO claim is allowed only once during the period, and after that the police insurance will be over. A hard damage that it up to 75% of car indemnity, car lost for stealing or burglary are commonly included in TLO. While car accessories are excluded in this term.
Comprehensive (All Risk)
All Risks or comprehensive is TLO to be added by TPL (Third Party Liability). TPL is a guarantee which is given by Insurance Company, for the destruction or loss of third party, that is caused by car/vehicle insured, in any circumstances, except those excluded in Insurance Policy. That means TLO automatically is part of All Risks.
Unlike TLO, All Risk type comprises car accessories as well, like broken mirror, stolen audio player, etc, as long as all those stuffs are written in policy as has been approved by both the Insurer and Insurance Company.
Basically all types and kinds of vehicle can be paid for Car Insurance, but usually Insurance Company has it’s own policy and rules. Insurance Company will make surveys on the vehicles to be joined in. It includes limitation of car age.
Hi, good post. I have been thinking about this topic,so thanks for sharing. I will definitely be subscribing to your site.
Hi, good post. I have been thinking about this issue,so thanks for writing. I will certainly be coming back to your site.
Hi, cool post. I have been thinking about this topic,so thanks for writing. I’ll definitely be subscribing to your site. Keep up the good posts