What is Own Risk?

Terakhir Diubah : 10:29:30 - Rabu, 13 April 2022

Berita - What is Own Risk? - Sahabat Insurance | Solusi Lengkap Perlindungan Asuransi Anda

Hi, Sahabat! If you have vehicle insurance, you must recognize some insurance terms so as not to get confused.

When purchasing a vehicle insurance product, you will be introduced to the term Own Risk (OR). Own risk can be interpreted as payment of compensation costs made by the vehicle owner or the insured for any loss and or damage that occurs when submitting a claim. If you do this, it means that you already know your responsibilities as a vehicle owner. As a form of your sense of responsibility to always be careful when driving. The standard, in accordance with OJK Letter No. 6 of 2017 stipulates that the current OR fee is a minimum of IDR 300,000 per incident.

Please note, standard car insurance policies actually only cover loss or damage caused by accident, collision, impact, overturning, slipping, or falling; evil deeds; theft; as well as fire and all risks covered by the motor vehicle insurance policy. However, if due to a disaster caused by natural disasters such as rain, flood, tsunami, hurricane, hail, tsunami, a product is provided in the form of an extension to protect your car from the causes mentioned above.

If you want to get further explanation regarding self-risk calculation or car insurance closing procedure through Sahabat Insurance Customer Service Online, we are happy to answer your questions via our hotline at 021-50508080 or Whatsapp at 021-50508080.

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House Explosion, will my insurance cover the damage?



We will never be able to avoid a disaster, the risk of unpredictability when it occurs. By knowing that the risk will just happen without our expectations, of course we need preparations that we must do to overcome the losses arising from the problem.

Therefore, it is recommended that you have a home, other buildings make sure to use property insurance. This property insurance, can help you with an efficient and economical way to provide protection to every property owned from a variety of risks. FLEXAS stands for Fire, Lightning, Explosion, Aircraft Impact & Smoke.

FLEXAS is a package that you can use to protect against a variety of risks in property insurance. It is unfortunate if the investment held for our support in the future will just disappear due to risks such as Fire, Lightning, Explosion, Fall of Aircraft & Smoke. Finally, we feel something unpleasant and certainly very detrimental.

Here are some explanations regarding FLEXAS guarantees that protect you from various things such as:

Fire (fire)

No one will ever know when a fire can occur in a building we have such as a house or property. Fire caused by a short circuit or electrical short circuit, the spread of fire or heat that arises on its own, or due to the spread of fire from other objects, neighboring houses, tree fires and others or fire due to your own negligence or lack of care, your servant or other people such as fires due to stoves, exploding gas leaks, or cigarette butts and others. the damage caused by efforts to extinguish fires will also be guaranteed by property insurance.

 

Lightning (Lightning Strike)

Lightning strikes are a terrible thing, because besides being exposed to electric shock, it can also cause our homes to become fires and destroy homes or buildings. No need to worry because property insurance will help you, if your house or building is damaged due to lightning strikes. Property insurance also guarantees the risk of fire caused by electric machinery, electrical or electronic equipment, and electrical installations that are burned because lightning also enters into account.

Explosion

Explosions can occur at any time, either because someone else intentionally put them in our place or because of our accident, What is meant by an explosion here is the sudden release of energy due to the expansion of steam or gas.

Aircraft Impact (Fall of Airplanes)

You could say that reaching aviation in Indonesia, having enough technology is high, but who can think of everything can happen to ourselves, without being able to know when it happened. The crash of an airplane to cause a fire will be guaranteed by property insurance. With the condition, this happens because of the physical impact of the aircraft or from the contents of the items in the plane that concern the house or property that is insured.

Smoke (Smoke)

Smoke arising from the fire of insured property. So if the smoke caused by a fire causes damage to the house or other property insured, property insurance will guarantee the loss due to the damage.

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