When you’re picking vehicle protection it’s imperative you have the actualities so you can settle on an educated choice. Understanding what you’re secured for will enable you to keep away from unforeseen expenses and give the  genuine feelings of serenity.

With regards to purchasing protection for your vehicle, you should think about a lot of imperative variables. One of these variables is the sort of protection inclusion you are searching for your vehicle. Individuals will in general confound between a Comprehensive Insurance arrangement and a Third party Insurance approach when searching for vehicle protection. This article will assist you with understanding the essential contrast between both these vehicle protection arrangements:

What is a Comprehensive Car Insurance Plan?

A far-reaching vehicle protection plan offers total assurance against the harms to your vehicle because of a mishap or a street disaster. This arrangement is known as a Comprehensive Insurance since it gives inclusion to the harms to your vehicle, Third Party legitimate risk, theft, alongside the individual mishap inclusion. The inclusion can be supported by choosing extra covers, for example, motor defender, extras spread, medicinal costs, zero devaluation spread, and so forth. This spread is generally well known, as it offers undeniable inclusion and it leaves the policyholder peaceful.

Read also: 10 Tips to successfully claim car insurance

A comprehensive car insurance plan incorporates inclusion for flame, theft, common and man-made calamities, for example, a tornado, sea strom, vandalism, harm caused to your vehicle by heavy substance, falling objects, common unsettling influence, for example, a mob that makes harm to your vehicle.

Benefits of Comprehensive Car Insurance

1. It pays to replace your vehicle if it’s stolen

Would you be able to stand to purchase another vehicle like the one you had if yours was stolen and not recouped? What if that the appropriate response is no. The comprehensive cover will help you to replace your car back.

2. It pays to repair damage from animal collisions.

In case if the crash of your vehicle is from an animal in certain cases the insurance will pay for the damages yet the whole situation will fall under the ‘Impact inclusion’ which means magnitude of damage occurred after the certain incident.

3. It pays to repair climate damage.

Golf ball-sized hail could leave marks everywhere on your vehicle. Or then again a tornado could lift it up and drop it a couple of houses down. Comprehensive coverage pays for vehicle fixes due to both of these situations. On the off chance that your vehicle is totaled by a climate-related occasion, your safety net provider will issue you a check for its esteem.

What is a Third-Party Car Insurance Plan?

A third-party insurance plan gives inclusion against any lawful risk emerging out of wounds to an outsider when the policyholder is to blame. It covers harms and wounds brought about by the Insured vehicle, to a third party or property.

Also read: How to Buy Your First Car in Pakistan Even If You Have Little Knowledge About Cars

The dimension of the cover offered by third-party insurance strategies can be useful for drivers that are bound to guarantee for any harm they cause when driving – and for drivers that could bear to pay repair costs for their own vehicle without expecting to guarantee on their Insurance.

Benefits of Purchasing a Third-Party Car Insurance Plan

A third-party car insurance plan covers a vehicle’s owner against any legal liability, including death or bodily injury to a third party or damage to their property with the involvement of the insured vehicle. As per the Motor Vehicle Act, a third-party claim can be filed under the category of “no-fault liability claims” in which the claimant is not obligatory to allege or prove the negligence on the part of the involved vehicle that has caused the accident or “fault liability claims”.

Difference between a Third-Party Cover and Comprehensive Cover

Fully comprehensive car insurance offers the same level of protection as a third party cover for fire and theft  – but it also offers cover for any damage to your own car during an accident and any injuries you might get. The upsides and downsides of these two sorts of vehicle Insurance plans rely upon numerous components. It is significant to comprehend these elements with the goal that you can investigate, look at, and afterwards settle on an astute choice.

1. The Value of a Car

in the worst case scenario that the estimation of your vehicle is low, it’s prescribed to purchase Third party insurance just, as the repairs to the damages could be overseen all around effectively. It is efficient to pay the repair charges when contrasted with paying for the high premium of a far-reaching protection spread.

Then again, if your vehicle is new and costly, it is prescribed to purchase comprehensive car insurance inclusion.

2. Coverage

A Third Party Insurance plan gives inclusion against the damages to any third party vehicle and real wounds caused to an outsider because of a mishap. There will be some other insurance providers that will charge you for third party inclusion.  It doesn’t give any inclusion against the damage caused to your very own vehicle.

Also read: Conventional Car Insurance VS Islamic Car Insurance (Takaful): What’s the Difference?

In the event that you’re looking for inclusion for your vehicle, you should purchase a comprehensive car insurance plan. It offers a wide inclusion, as it incorporates outsider obligation too. Comprehensive car insurance is costly when contrasted with a Third party insurance plan, as it offers more extensive coverage.

3. Costs

A comprehensive plan is costly when contrasted with a third party insurance plan since it offers inclusion for wounds, harms, and theft.

It is a great idea to be protected than sorry. A street setback is awful and it can wash out your reserve funds in one go. There can be minor varieties with regards to the rejections and advantages, as it fluctuates from insurer to insurer. In the event that you need peace of mind and the correct protection inclusion for your vehicle in the meantime, at that point, you should purchase a comprehensive car insurance plan since it will satisfy all your desires related to protection and coverage.

Khurram Zahid

The post Difference Between Third Party And Comprehensive Car Insurance appeared first on Smartchoice.pk.

Every car insurance service provider is coming up with different plans and offers different kinds of promotions for the clients. So many choices and offers make it difficult for the customers to assess and find which of the following suits the best to their needs and budget.  

Despite such extreme demand for car insurance in Pakistan, there is still lack of sufficient amount of information sharing about the matter. One of the main reasons is that the potential car insurance customers do not have access to reliable sources of information.

Keeping in mind the need to educate the car insurance customers, we have compiled some data that is really helpful for the users to do safe buying.  To assist the customers in a better way, below are some of the basic questions that are necessary for you to keep in mind if you are really looking for to go for car insurance and planning to buy a policy.

1- Why car insurance is needed in Pakistan?

Car insurance is the best way to own a car without putting a strain on your pocket takes no burden in case of damage, accident or theft.

With the latest advancements in the field, it is much easier for the car owners to get their vehicle insured. There are a lot of insurance service providers in the market who offer competitive packages for the customers to earn maximum benefits.

Another aspect of the matter is that Pakistan is a developing country and there are a number of projects of infrastructure that are in the pipeline in big cities like Peshawar and Lahore. Such situations are creating a challenging situation on the roads and for the drivers. All of this is resulting in increased traffic accidents.

No matter how careful you are but there can be the time that you earn damage to your vehicle due to the carelessness of the driver just behind you. In such conditions, car insurance will help you deal with the situations with an ultimate peace of mind.

2- Is it Necessary to Have Car Insurance in Pakistan?

Yes, it is a must to have. However, according to the traffic laws of Pakistan, the driver must own the third party insurance of liability. If not so, he will have to pay a fine and might be charged with punishment for violation of traffic rules. The third-party liability insurance service providers offer services for property damage, car damage, death by vehicle, and physical injury etc.

Related Read: 4 Big Reasons Not To Let Your Car Insurance Lapse!

3- What Emblements Impact the Car Insurance Premium in Pakistan?

It is important for you to know what major elements are there that might have an impact on the car insurance premium in Pakistan. The car insurance service providers in Pakistan, consider a number of factors before finalizing terms for the premium of your car insurance. Below are some of the key factors that can have an impact on the car insurance in Pakistan;

•         The value of your vehicle
•         The insured estimate value
•         Model and make of vehicle
•         Age of the car
•         In which area it is used and where it is parked when not on the ride
•         Do the car have  a tracker or not

4- Is Car Insurance Policy Only for Registered Owner?

Yes, in Pakistan the insurance policy is issued in the name of the registered owner of the car. However, you can purchase the insurance policy if you own an unregistered vehicle but you have to provide the documentation of registration in time of 15 days. In another case, the policy will be terminated.

5- What if the husband and Wife Both are driving the same car?

If both husband and wife are driving the same car, the insurance policy will go for both of them. The insurance policy in Pakistan is provided on the basis of the vehicle and not the person. However, these service providers will do ask for the details of the car owner and the person who will be driving the car. It is necessary for the registration of the vehicle insurance.

6- Do Service Provider Ask for Driving History?

Before offering the insurance policy the car insurance services providers will do ask for the policy owner various questions. The service provider might ask you your history of driving, if you have had any accidents in the past, or if you are a rash driver. It helps them to calculate the risk level.  Also before giving you the insurance policy, they will check the vehicle in detail for if there is any damage to it or not. So the driving history of the people who will be driving the car is a must for the services providers before they will issue you an insurance policy.

7- Do We Separate Insurance for Every Car?

Every car has its own insurance. One policy will be applicable only on one car. If you have more than one car, you will need to buy a separate insurance policy for them. You may find some insurance provider who will transfer a single insurance policy from one car to another but you have to pay the premium separately.

8- An Insurance Policy Covers Entire Pakistan or One Province?

Most of the insurance provider covers entire Pakistan. However, there are some insurance providers who have excluded some sensitive parts of Pakistan including Balochistan. This is done due to the security issues. If the client looks for some insurance for sensitive areas, he/she must ask the service provider and will have to pay some additional amount in this regard.

Related Read: 6 Smart Tips To Cut Down On Your Car Insurance Cost!

9- Can We Get Short-term Insurance Cover?

If you are asking about a genuine car insurance service provider then surely there is not short term car insurance cover in Pakistan. However, the owner of the insurance can cancel the policy at any moment. The policy owner can also claim a refund if he or she has not claimed an accident during this time period and if there are a minimum of 120 days left till the expiration of the policy for car insurance.

10- Car Insurance Requirements while Renting a Car:

When you are renting a car, you do not need to buy the insurance car in your name. the cars that are used by the car rental businesses are insured under the specified category and is done in the name of the actual owner of the car or the company who rent the car to the third party for temporary use.

These are the most general norms of the car insurance industry in Pakistan. There are chances that the insurance provider may have some specified terms and conditions of their own but the above said are to be applicable in all cases.

Related Read: Car Insurance in Pakistan: An Easy to Use Guide for First Time Buyers

Otherwise, in any case, we would recommend you to study the policies or terms and conditions in detail before signing an agreement of the car insurance policy in Pakistan, to keep yourself safe and out of any hassle or hidden charges.

Khurram Zahid

The post 10 Things You Must Know Before Going for Car Insurance in Pakistan appeared first on Smartchoice.pk.

In recent days, tensions between Pakistan and India have escalated to such heights that there has been unprovoked firing across the Line of Control due to which many nearby civilian areas have also been affected and there have been causalities as well.  With the risk of war looming around, it’s always a good idea to have insurance cover. In this article we will pinpoint some of the key types of insurance one must avail for sure while living in such sensitive areas of the country.

Life & Health Insurance:
It’s widely said that “Health is Wealth” and this is surely said for all the right reasons. A person can only perform and manage his daily workflow only if he is well and fit enough to do so.  Staying health is one of the most aspects of one’s life.  The organization where you work might have already offered you health insurance as a benefit but the covers associated with health insurance are only for the cost of treatments of any ailments or injuries etc. hence you should preferably get life insurance to counter the omnipresent threat of terrorism hence in the unfortunate scenario of death or major disability, your family gets financial support to continue their everyday life without being interrupted abruptly. Ideally you should buy a cover that provides you around 5 to 10 times of your annual income in monetary compensation and if you have any loans or liabilities then it should be around 15 to 20 times to provide enough timeframe for your dependents or next of kin to cope up and become stable.

Property Insurance:
Next in the line of assets in terms of value is usually one’s property. You should get insurance cover for your property be it for business purpose or residential. It protects damage to property and personal possessions in the case of terrorism and incidents of explosions or fire etc. Choose a policy that covers these incidents under terrorism to ensure adequate compensation.

Car Insurance:
Going forward, let’s talk about cars. Usually these are the most valuable assets after property and should be insured. For those people who live in such areas where terrorist activity is imminent, it’s advised that they opt for comprehensive car insurance instead of just third-party insurance to make sure that their car is safe from risk of fire, damage, arson, terrorist attacks etc. And in case of total loss you’d be reimbursed as per the depreciation and current market value. We’ve our car insurance portal where you can get real time quotations for your new or used car and compare different policies and buy an auto insurance plan online too!

Conclusion:
Lastly we should also mention that these policies do not cover biological, chemical or nuclear attacks. However it’s still encouraged that you opt for the above mentioned insurance plans to minimize the loss of money and property as well as get some compensation against loss of life or disability even though there’s no true replacement of life. Also buying insurance policies for property is a really sane idea because in case your area needs to be evacuated for any military operation, chances are that your property will sustain damage. Government is supposed to compensate people for any losses occurred but as the situation prevails in Pakistan expecting anything from the government within due time would be equal to blowing a trumpet in front of a buffalo. Thus you should consider taking matters in your own hands and ensure that you and your loved ones have a safety cover in case the worst happens though here’s hoping that such a time never befalls upon us however the wise man said that “Prevention is better than cure” and that says it all!

Khurram Zahid

The post Living Near PAK-IND Border? Here’s Why You Should Consider Getting Insurance appeared first on Smartchoice.pk.

Easypaisa Car Insurance can be availed by paying a premium price of 2.5% of the car’s market value per annum.

Unlike conventional car insurance policies, customers can subscribe to Easypaisa Car Insurance and avail ‘third party insurance’ and ‘terrorism cover’, or going as far as to cover the ‘car mechanical insurance’ that has never been offered in Pakistan before.

Easypaisa Car Insurance covers everything that competitive insurance plans cover, and adds even more! Easypaisa Car Insurance covers engine breakdown, drive axle, transmission, suspension, steering, cooling system, electronic systems and more.

Furthermore, the client is not required to submit any lengthy documentation; they can simply call the Easypaisa helpline at 3737 and an authorized surveyor will guide them through the process.

Such universal availability with an easy process makes this car insurance plan accessible to an unparalleled number of people.

The process for Easypaisa Account subscribers is even easier as they can sign up for Easypaisa Car Insurance through an SMS command. Soon, customers will be able sign up for Easypaisa Car Insurance by visiting Easypaisa shops, Telenor Sales & Service Centre and Telenor Franchises across Pakistan.

Ali Riaz Chaudhry, President and CEO of Tameer Bank said,

“With Pakistan’s fiercely growing automobile industry, subscribing to a reliable car insurance policy has become a prerequisite for every car owner. Digitally empowered, Easypaisa Car Insurance is here to address all the needs of our customers.”

Muhammad Yahya Khan, Head of Easypaisa said,

“Our valued customers are the source of our motivation to offer convenient and affordable car insurance with features that are completely unprecedented in the Pakistani market. From signing up to making claims, all has been made possible from your mobile phone, without the need of conventional laborious paperwork.Now every car holder can rely on an affordable and yet comprehensive insurance plan for their car.”

Mian Shahid, Chairman United International Group said,

“We admire how Easypaisa digitized insurance’s overall claims process. With Easypaisa’s visionary leadership, we hope and wish to work on delivering first-rate insurance products throughout the country.”

Easypaisa’s new Car Insurance plans offers cheaper pricing, better coverage, and is available to more people than ever before. With car insurance, Easypaisa continues to demonstrate the benefits of digital financial services for the common man.

Khurram Zahid

The post EasyPaisa Collaborates With United Insurance To Offer Car Insurance! appeared first on Smartchoice.pk.

1) Choose your car carefully:
When out in the market to buy a new or used car, it’s preferable not to buy a “hot” car. What it essentially means is that there are some models of various vehicles that are usually more sought out by thieves as they might be easier to steal or parts might be high in demand in the black market. Some common examples of such cars are Suzuki Mehran and Toyota Corolla. Insurance on these cars gets a bit expensive because they aren’t insured without a tracker and thus it adds around 8-15k to the total cost of insuring your vehicle.

2) Install a tracker:
Insurance providers will offer you a better quote for your policy if you’ve a tracker already installed. This will give your car an additional cover of safety as well as reduce your insurance policy cost. Having a tracker helps immensely in locating the car in case of snatching or theft as well as keeping you informed about your car’s whereabouts at any given point in time.

3)Choose the right cover:
Car insurance providers offer different types of insurance covers. Usually there’s two types i.e Comprehensive and Third Party Liability. In Comprehensive, you get the full cover in which damage arising from your own mistake or due to anyone else is covered along with natural disasters and arson. Whereas in Third Party Liability, your own damages are not covered and only the other person is compensated for any damage to the vehicle as well as bodily injury.

4) Keep your deductibles high:
A deductible is the amount you’ve to pay in case of accidental damage. The rest is paid by your insurance provider. It means that in case of an accident you have to pay a higher amount however it brings down your insurance cost down significantly as the provider will be liable to compensate you for lesser in case of an insurance claim.

5) Protect your no-claims bonus:
A no-claims bonus is awarded to you at the end of the year if you didn’t claim your insurance all year long. It helps to decrease the yearly cost of insurance for your vehicle hence it’s better to leave those small dents instead of rushing to get them fixed. It saves you money in the long run.

6) Shop around before you buy a policy:
It’s a really sensible thing to shop around for insurance quotes from various insurance providers to see who offers the best deal. However do compare the offered features as well as going for the cheapest option might not be the smart choice to make.

SmartChoice.PK is an online price comparison platform that lets you compare prices for internet broadband packages from various ISPs all over Pakistan. We’re launching our car insurance portal very soon in which you’ll be able to input your car’s details such as make, model and price and then get insurance quotes in real-time from various insurance providers all over Pakistan, compare them side by side and order a policy online, all from a single website.

Khurram Zahid

The post 6 Smart Tips To Cut Down On Your Car Insurance Cost! appeared first on Smartchoice.pk.