vehicle insurance terms

Terakhir Diubah : 14:43:37 - Selasa, 15 Maret 2022

Often confused to see the term vehicle insurance? Don't worry, Friends of Insurance are ready to help with terms that are often used in Vehicle Insurance.
Insurance policy
You may have heard this term many times, but do you really know the meaning behind it? Policy and insurance policy have almost the same meaning, an insurance policy is an agreement or agreement between the policyholder and the insurance company to perform obligations such as loss or damage protection that has been agreed by both parties.
Insurance premium
A word you will also hear often is premium. In short, the premium is the value or nominal payment agreed by the policyholder with the insurance company. The amount of premium to be paid will also be listed on your vehicle insurance policy.
Sum Insured
Simply put, the price of coverage is the purchase price of a motor vehicle when you make an insurance policy. This purchase price will be listed in the policy and will later become the maximum limit of the liability value of the insurance company if you make a claim at any time.
Total Loss Only or TLO
Well, this one term is very closely related to car insurance. Total Loss Only or TLO is one of the most common types of vehicle insurance in Indonesia. If you choose Total Loss Only motor vehicle insurance, it means that in the event of a loss or damage the insurance will provide repair or replacement costs of only 75%.
All Risk
Just like the term TLO, all risk is also related to the type of insurance you can choose for your vehicle. The difference between the two is that all risk insurance will accept all claims for loss or damage to a motorbike or car up to 100%.
Deductible or Own Risk
Deductible, own risk, or own risk have the same meaning, namely the value that becomes your burden for each damage or loss that occurs. This burden or value is usually calculated from the amount of compensation to be paid. As a policyholder you must really pay attention to these details in the insurance policy purchased.
TJH III or Third Party Legal Liability
In simple terms, TJH III talks about the liability guarantee that will be given by the insurance party to a third party if the insured vehicle suffers a loss or damage. You can ask the insurance party for points regarding Third Party Legal Liability when making a policy.
At least you need to understand the terms mentioned above, besides that, pay attention to the points that talk about losses caused by natural disasters, riots or acts of terrorism. Don't forget to read the motor vehicle insurance policy in full and in detail so that you know exactly what protection you have.
If you still want to find out more details or complete information about vehicle insurance, you can find all the information at www.sahabatinsurance.id or call 021-50508080.

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What is Insurance Policy?

Policy is an insurance term which means a contract or agreement between an insurance company and the insured. Insurance policy describes all the rights and obligations between the two parties. The insurance policy will be valid written evidence in the agreement made by the insurer and the insured.
With the existence of an insurance policy, both parties who enter into the insurance agreement will be bound and have their respective responsibilities as agreed from the start. Insurance policies are very important in the insurance service itself, because the policy will protect every right and obligation of the customer and the insurance company.

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Sahabat Insurance achieved “excellence” predicate by infobank magazine

PT Asuransi Sahabat Artha Proteksi (Sahabat Insurance) achieved “excellence” predicate and successfully maintain its performance as one of the best in the group of general insurance for 3 consecutive years, in 2021, 2022 and 2023 according to Infobank Magazine.

Sahabat Insurance won 2nd place in the category of General Insurance Companies with Gross Premiums of IDR 250 billion to IDR 500 billion in 2023 (2022 performance).

The growth in gross premiums for Asuransi Sahabat Artha Proteksi is one of the highest in its group. On an annual basis, the gross premium for Asuransi Sahabat Artha Proteksi grew 70.51% from IDR 255.79 billion in 2021 to IDR 436.14 billion in 2022. The gross premium growth far exceeded the general insurance industry which was 16.87%.

On the profitability side, the company's profit before tax was recorded at IDR 20.21 billion or grew 26.83%. Meanwhile, investment grew 23.07% to IDR 397.47 billion. For this achievement, Asuransi Sahabat Artha Proteksi received the “excellence” rating in this insurance rating. (Source: infobank July 2023)

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Difference of insurance, savings, investment

What is the difference between insurance, savings and investment? Before we know the difference, it is better if we know the meaning first.

According to the Big Indonesian Dictionary (KBBI), insurance is coverage, an agreement between two parties. Meanwhile, the definition of insurance is quoted from the Financial Services Authority (OJK), which is an agreement between an insurance company and a policy holder which is the basis for receiving premiums by insurance companies as compensation in the form of replacing or reducing losses.
Meanwhile, the definition of savings as reported by the Financial Services Authority (OJK) is money deposits in banks whose withdrawals can only be made according to certain conditions. Generally, banks will provide a passbook that contains information on all the transactions you have made and an ATM card complete with a personal number (PIN). In its current development, there are several types of savings that no longer use passbooks but internet/mobile banking.
Investment is investment, usually in the long term for the procurement of complete assets or the purchase of shares and other securities for profit.

Now, after knowing the meaning, let's see what the difference is:

1. Insurance is to provide protection against risks that may occur to your assets in the future, savings are a means to save wealth from unused income while investment is an investment of funds in the long term to earn profits.

2. Insurance has an element of necessity because it is bound by a contract in the policy, savings and investment are more flexible and according to the ability of each individual.

3. While the risks that may occur will be protected in insurance according to the terms and conditions in the policy, while the investment risk depends on market conditions.

Well, hopefully this article provides information about insurance, savings and investment. For further inquiries regarding insurance and how to claim, you can contact us at 021-50508080

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Omicron, symptoms and how to deal with it

Based on the results of the study, the most common characteristics that indicate a person is infected with the omicron variant of the Covid-19 infection are as follows:

1. Sore throat but no cough
A sore throat accompanied by a cough is one of the common symptoms when someone is declared infected with the Covid-19 virus.

But in the Omicron variant, the sore throat tends to be itchy, dry, even without coughing.

2. Muscle and joint pain
Reporting from the Gavi.org page, the first reports of Omicron symptoms in South Africa showed a reaction to lower back pain.

In addition, this pain also continues to spread to several other areas such as joints, and muscle pain (myalgia).

3. Fatigue
Another symptom of Omicron is fatigue so that the body becomes weak and even easily feels tired even though it is not strenuous activity.

These signs of fatigue are constant because they are usually felt by other variants of Covid-19 sufferers.

4. Headache
A painful headache accompanied by a fever like the flu is an inflammatory reaction that the body is fighting a virus.

In Omicron symptoms, this headache feels throbbing, pressured, and sometimes accompanied by a stabbing feeling of mild to severe intensity.

5. Don't lose your sense of smell
In the previous Covid-19 variant, infected patients will experience impaired sense of smell and taste.

But for the Omicron variant, it's the opposite. Patients do not lose their sense of smell and taste so they still feel normal as usual.

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