Check Health Insurance Premiums
Telah Ditinjau:
Cari Asuransi Semudah 1, 2, 3!
Best All Risk and TLO Car Insurance in Indonesia
Car insurance is a financial protection product that provides compensation if the vehicle experiences partial damage such as scratches, dents, or total damage or loss. There are two types of car insurance, namely All Risk (comprehensive) which covers all types of damage and/or loss, Total Loss Only (TLO) which covers the costs of total damage or loss only.
The following are recommendations for the best car insurance in Indonesia that you can consider to protect your car.
Garda Oto Insurance
All Risk Premium Starting
IDR 2 million/yr*
Workshop Work Guarantee
6 months
Emergency Road Assistance
Guard Standby 24/7
Mega Insurance Car Insurance
All Risk Premium Starting
IDR 2 million/yr*
Partner Workshop
400+ workshops
Max Car Age.
10 years
Performance
Best General Insurance 2022
Zurich Sharia
All Risk Premium Starting
IDR 1.9 million/yr*
Max Car Age.
10 years
Partner Workshop
300+ workshops
MAG Car Insurance
All Risk Premium Starting
IDR 3 million/yr*
Partner Workshop
600+ workshops
Max Car Age.
10 years
Performance
Best General Insurance 2022
ACA Car Insurance
All Risk Premium Starting
IDR 3 million/yr*
Partner Workshop
400+ workshops
Max Car Age.
7 years
Solvency Ratio
331%
What are the types of car insurance in Indonesia?
Types of car insurance consist of all risk (comprehensive) and Total Loss Only (TLO). Simply put, all risk car insurance covers the risk of partial damage such as scratches and dents, to serious damage or even loss due to theft.
Meanwhile, TLO car insurance only covers total losses, for example the car is damaged to the point where it can no longer be driven or is stolen by someone. So if it’s just scratched or dented, TLO insurance won’t cover the repair costs.
So that you don’t make the wrong choice, see the differences in the types of vehicle insurance in full below:
1. All Risk Car Insurance (Comprehensive)
All risk (comprehensive) car insurance is a vehicle insurance policy that covers all types of car damage claims, from partial damage to serious damage. However, generally the risks covered do not include floods, riots, earthquakes and other categories of natural disasters which are included in policy exclusions.
2. TLO Car Insurance
The TLO car insurance benefit provides the sum insured if the car is lost due to theft or damage occurs with a repair value equal to or more than 75 percent of the price of the car at the time of the loss. This means that the car must be completely damaged or cannot be used again, then you can file a claim. So, if the car is only scratched or dented, the customer cannot make a claim.
Benefits of Buying Insurance at Lifepal
4000+ Partner Workshops
The widest partner workshop in Indonesia
Best Price
Cheapest premium guarantee for your car
Online Claim Assistance
Guaranteed insurance benefits according to the policy
Free Consultation
Consult an agent to help choose the right policy
All Risk Car Insurance or TLO, What's the Difference?
Simply put, all risk car insurance is a policy that covers all types of damage, both partial and total damage. Meanwhile, TLO is a policy that only covers total damage or car repair costs above 75 percent of the car’s current price.
To make it easier, let’s look at the differences between all risk and TLO car damage insurance types in the following table:
Type
All Risks
TLO
Car age
Max. 12 years old
Max. 15 years – 20 years
Car age
Max. 12 years old
Max. 15 years – 20 years
Premium cost
Starting from 3.26 percent of the car price
Starting from 0.44 percent of the car price
Benefits covered
Partial damage such as scratches, dents, up to total damage or even loss.
The damage value is more than 75 percent or lost
How Much Do All Risk and TLO Car Insurance Premiums Cost?
Car insurance premiums range from IDR 700 thousand per year for a TLO policy and IDR 2 million for all risk insurance , depending on the type of vehicle insured.
The amount of vehicle insurance premiums refers to OJK Vehicle Letter Number 6/SEOJK.05/2017 regarding Determination of Premiums or Contributions for Property Insurance and Motor Vehicle Insurance Business Lines in 2017.
The all risk premium price generally ranges up to 3.59% of the car price. A simple way to calculate how much car insurance costs per year is as follows:
| Premium percentage (according to car insurance type, region, and car price category) x car price = premium cost |
To make it easier, you can use a car insurance premium check simulation with the Lifepal calculator by filling in the form above!
All risk car insurance costs from OJK
Referring to OJK car insurance rates, the premium set depends on the region and the price of the customer’s car. The following is the percentage of premium costs or rates or prices for all risk OJK 2023:
Category
Region 1
Region 2
Region 3
.
Sumatra & Surroundings
West Java, Banten, Jakarta.
Which does not include 1&2
Kat. 1 Rp. 125 million.
3.82% – 4.20%
3.26% – 3.59%
2.53% – 2.78%
Kat. 2 IDR 125-200 million.
2.67% – 2.94%
2.47% – 2.72%
2.69% – 2.96%
Kat. 3 IDR 200- 400 million.
2.18% – 2.40%
2.08% – 2.29%
1.79% – 1.97%
Kat. 4 IDR 400-800 million.
1.20% – 1.32%
1.20% – 1.32%
1.14% – 1.25%
Kat. 5 >Rp. 800 million.
1.05% – 1.16%
1.05% – 1.16%
1.05% – 1.1%
Referring to OJK car insurance rates, the premium set depends on the region and the price of the customer’s car. The following is the percentage of premium costs or rates or prices for all risk OJK 2023:
Example of a vehicle profile:
- Honda Brio car
- Price IDR 150 million
- Domicile Jakarta (entering region II)
So the calculation is:
All risk premium percentage x car price = premium cost 2.47% x IDR 150,000,000 = IDR 3,705,000 per year
Another practical way is to compare hundreds of policies from various insurance companies online. That way, potential customers can get the best policy with the cheapest premium too!
All risk car insurance costs from OJK
Category
Region 1
Region 2
Region 3
.
Sumatra & Surroundings
West Java, Banten, Jakarta.
Which does not include 1&2
Kat. 1 Rp. 125 million.
0.47% – 0.56%
0.65% – 0.78%
0.51% – 0.56%
Kat. 2 IDR 125-200 million.
0.63% – 0.69%
0.44% – 0.53%
0.44% – 0.48%
Kat. 3 IDR 200- 400 million.
0.41% – 0.46%
0.38% – 0.42%
0.29% – 0.35%
Kat. 4 IDR 400-800 million.
0.25% – 0.30%
0.25% – 0.30%
0.23% – 0.27%
Kat. 5 > IDR 800 million.
0.20% – 0.24%
0.20% – 0.24%
0.20% – 0.24%
If you look at the table above, you can see that TLO car insurance will be cheaper than all risk. Using the same example from before, let’s compare TLO premiums.
For example, Agya’s car is IDR 150 million and has a B Jakarta plate. So the premium that must be paid is calculated based on region II category 2. The following is the online car insurance calculation:
Percentage of TLO car insurance premium x car price = premium cost 0.44% x IDR 150,000,000 = IDR 660,000 per year
Costs and premium simulation with extended guarantees
Guarantee
Premium Rates
Own Risk
Floods include hurricanes
Starting from 0.50% (depending on region)
10% of the approved claim value, at least IDR 500,000.00 per incident
Earthquake and tsunami
Starting from 0.05% (depending on region)
.
Riot or riot (SRCC)
0.05% (All Risk) and 0.035% (TLO)
.
Terrorism and sabotage
0.05% (All Risk) and 0.035% (TLO)
0.38% – 0.42%
Legal Responsibility towards Third Parties (Passenger Vehicles and Motorcycles)
a. UP up to IDR 25 million : 1% of UP
b. UP > IDR 25 million to IDR 50 million : 0.5% of UP
c. UP > IDR 50 million to IDR 100 million : 0.25% of UP
d. UP > IDR 100 million: determined by the company’s underwriter
.
Legal Responsibility towards Third Parties (Commercial Vehicles, Trucks and Buses)
a. UP up to IDR 25 million : 1.50% of UP
b. UP > IDR 25 million to IDR 50 million : 0.75% of UP
c. UP > IDR 50 million to IDR 100 million : 0.375% of UP
d. UP > IDR 100 million: determined by the company’s underwriter
.
Personal Accident for Passengers
a. For Drivers: 0.50% of the Sum Insured (UP) for personal accidents
b. For Passengers: 0.10% of personal accident UP for each passenger seat
.
Legal Responsibility towards Passengers
a. UP up to IDR 25 million : 0.50% of UP
b. UP > IDR 25 million to IDR 50 million : 0.25% of UP
c. UP > IDR 50 million to IDR 100 million: 0.125% of UP
d. UP > IDR 100 million: determined by the company’s underwriter
.
How to Claim Car Insurance Online
How to claim car insurance must pay attention to procedures and documents. The first thing you should pay attention to when an accident occurs or goes missing, immediately take photos of the incident as proof of the claim and immediately make a vehicle insurance claim report within a maximum of 5×24 hours.
However, for the risk of the car being lost or TLO, the claim process will take longer. This is because the value of the claim submitted is quite large. Because of this, the insurance company will carry out further investigations, both from surveyors and the police. Usually a lost car claim will be disbursed within 3 months or more.
It is important for you to note that customers are not advised to carry out repairs at a repair shop before the insurance company has conducted a loss survey first. After that, make sure the car is repaired at a partner workshop appointed by the insurance company.
If there is no partner repair shop close to your domicile, then you should apply first to the insurance company.
Take a look at the general car insurance claim process in Indonesia below:
- Reporting a claim: You can come directly to the branch office, telephone, SMS, or the claims application provided by the insurance company. Usually, claim reports must be made a maximum of 5×24 hours after the incident, depending on company policy.
- Prepare claim documents: Vehicle documents (driver’s license and STNK), policy documents, completed claim form, photos as proof of accident/other losses to be claimed. The documents that need to be prepared depend on the type of loss experienced. Please pay attention to the completeness of the documents in the next explanation.
- The insurance team conducts surveys and analysis: This process aims to calculate estimates of losses that occur.
- Wait for the results of the survey and analysis: The insurance company team will assess which claims can be approved.
- Claim reimbursement: Customers receive claim reimbursement for losses incurred.[/accordion]
The documents required for a claim depend on the type of damage or loss experienced. However, in general, here are some documents that need to be prepared:
- Insurance policy documents, attachments/endorsements
- Driver’s Driving License (SIM).
- Vehicle Registration Certificate (STNK)
- BPKB of car vehicles
- The insured’s identity card (KTP).
- LKKB (Motor Vehicle Accident Report)
- The loss report includes a chronology of the accident
- The certificate is lost in the event of theft
- Third party demand letter if it involves a third party
Generally, claims at official workshops are available as an additional benefit or rider. This means that for this benefit an additional premium will be charged. However, there are also insurance policies that provide the benefit of claiming at an official repair shop as a basic benefit.
The reason why claims at official workshops generally come as an additional benefit is because they provide a guarantee for original spare parts.
Claims are subject to an own risk fee of IDR 300 thousand
It is important to understand that according to the provisions of the Financial Services Authority Number 6 /SEOJK.05/2017 , every insurance company is required to impose a minimum claim or own risk fee of IDR 300 thousand per incident. The aim is to maintain premium stability, because insurance companies will face huge financial costs if the own risk fee is not implemented. In the long term, this will result in a significant increase in premiums.
However, it is important to note that even though you have an own risk fee, it is still very important to have car insurance to reduce the financial burden if there is a risk of damage. The following is a simulation of car repair costs using and without insurance:
Claims are subject to an own risk fee of IDR 300 thousand
It is important to understand that according to the provisions of the Financial Services Authority Number 6 /SEOJK.05/2017 , every insurance company is required to impose a minimum claim or own risk fee of IDR 300 thousand per incident. The aim is to maintain premium stability, because insurance companies will face huge financial costs if the own risk fee is not implemented. In the long term, this will result in a significant increase in premiums.
However, it is important to note that even though you have an own risk fee, it is still very important to have car insurance to reduce the financial burden if there is a risk of damage. The following is a simulation of car repair costs using and without insurance:
Car Insurance Claim Experience at Lifepal
Car Insurance Claim Experience at Lifepal
Choosing cheap and good car insurance must consider several factors, such as type, product, and the right comparison between premiums and services. Here are some tips for choosing and how to check the best online car insurance that you can do:
1. Choose the appropriate type of insurance (all risk or TLO)
Get to know the needs and terrain that your favorite car often passes through, whether in busy city areas or damaged roads. Usually, all risk car insurance is suitable for city car drivers because they have a high risk of minor to major damage. Meanwhile, TLO is suitable for cars located in crime-prone areas.
2. Look for third-party car insurance
Third party car insurance is a policy that provides compensation if there is a risk of an accident or collision involving a third party. For example, you accidentally hit the car in front at a red light. The cost of damage to the car you hit will be borne by the vehicle insurance company. However, this policy also has several exceptions, such as:
- The customer crashes or pushes another vehicle while practicing driving
- Losses occur due to vehicles being used for racing, crime, carnivals, campaigns and demonstrations
- Losses occur as a result of things that are intentional or planned
- The vehicle was driven by a driver without a driver’s license
- The vehicle suffered damage due to the driver being under the influence of drugs or alcohol
- Vehicles suffer losses due to natural disasters or riots
3. Compare policies from various car insurance companies
In order to get a policy with cheap premiums and complete benefits, prospective customers are advised to compare policies and buy car insurance online from various companies in Indonesia . This method can be done by utilizing the policy comparison feature from Lifepal!
4. Select who has extensive partner workshops
It’s also a good idea to choose one that has a wide range of partner workshops. That way, you can more easily make repair claims at the nearest workshop to your domicile. It should also be noted that if you want to submit a claim at an authorized repair shop, customers will usually be charged an additional premium. Therefore, check with the agent who serves you first.
5. Compare the price of the premium versus the service features
Vehicle insurance premiums are regulated by the OJK, but the features and services can vary from one product to another even though the premium is the same. There are policies that only cover damage to the car, but there are also those that cover the driver and passengers too.
In fact, without additional fees . So, when receiving a vehicle insurance policy, you should first understand what protection, features and extra benefits are provided, then sign it.
6. Complete the car insurance requirements
After determining the policy you want, then complete the necessary conditions. Here are some of the conditions:
- Registration form provided by Lifepal or vehicle insurance company
- Photocopy of Vehicle Registration Certificate (STNK)
- Photocopy of Resident Identity Card (KTP)
- Photocopy and original of Driving License (SIM)
- KITAS or KITAP (for foreigners)
- Original NPWP or SIUP letter
Terms in Car Insurance
A type of insurance that provides protection or guaranteed coverage in the event of total loss or damage of more than 75 percent.
A type of vehicle insurance that provides coverage for all risks of loss that may occur.
Costs that must be paid by the insured or insurance participant for each incident experienced. The amount is IDR 300 thousand per incident.
An insurance agreement issued by an insurance participant with the approval of the insurance company with the aim of changing the insurance policy.
Indemnity or the amount of compensation is the amount of compensation by the insurance company for losses experienced by the insured which is calculated based on the prevailing market price.
The value of the motorbike vehicle when registered is the object of insurance. The price in the insurance policy is a reference for the maximum price that will be covered by the insurance company. Generally, the insurance price is adjusted to the market price of motorbikes during that period.
The market selling value of the vehicle that is the object of collateral.
A written letter that must be submitted by the insurance participant to the insurance company to cover the risks that occur in accordance with the agreement in the insurance policy.
Replacement guarantee to a third party due to a third party vehicle experiencing problems due to an accident with the customer’s vehicle. The Insured is a person or legal entity who has a financial interest in the Motorized Vehicle covered by the Insurer (insurance company).
Responsibility to third parties does not necessarily mean promising compensation to the third party, but rather first notifying the insurance company of any losses experienced by the third party and then negotiating the claims submitted.
Insurance companies provide compensation for loss and/or damage to motorized vehicles.
The person who enters into a coverage agreement with an insurance company.
Providing compensation for risks resulting from riots, riots, terrorism, and so on.
The value of money that insurance participants must pay to the insurance company in return for the services provided. Premiums can be paid in accordance with the method and period agreed by both parties.
A written contract between an insurance company and an insurance participant containing the transfer of risk and conditions that must be complied with by both parties. Policies generally include information on the amount of coverage, types of risks covered, exclusions, term of the agreement and so on.
RBC is one of the benchmarks or ratios used to determine whether the company’s finances are in a healthy condition or not. An insurance company can be declared healthy if it has a solvency ratio in accordance with the provisions of the Financial Services Authority, namely a minimum of 120 percent.
*Apart from solvency, there are a number of other financial ratios that also need to be considered.
Questions About Car Insurance
Here are some tips and questions that are often asked or searched regarding insurance for car vehicles.
Combination insurance is a combination of all risk and TLO which generally can only be obtained when getting a car loan. The way it works is that in the first year the car will be covered for all risks, then in the following year only the TLO type of car insurance.
Purchasing a new car on credit includes a car insurance protection package. Its function is to ensure that the function of the car, which is still owned by the bank during the leasing period, is always maintained during the leasing period. The way it works is simple, where the creditor only needs to make a down payment , then pay the installments over several years.
Car insurance packages from bank credit generally only protect for a few years, then you can buy a policy independently according to each customer’s wishes.
Insuring your favorite car can protect your savings from burdensome expenses.
Apart from that, there are also other reasons why you need to have car insurance, namely:
- The number of vehicles on Indonesian roads increases by 6 percent every year, so you must protect your car from damage that can occur on the road.
- Car vehicle insurance can also protect you and your passengers from expensive maintenance costs if an accident occurs. Moreover, the accident rate in Indonesia continues to increase every year.
- Protect your finances from expensive repair bills if damage occurs to your vehicle.
To choose good and cheap car insurance, there are three main things to measure and benchmark, namely:
- Offers premium prices in accordance with the upper and lower limit tables set by the government.
- Providing basic coverage guarantees with wider coverage throughout Indonesia.
- Offers premiums commensurate with the services and coverage provided.
The benefits of all risk car insurance include coverage for all types of damage due to accidents. Starting from minor or moderate damage such as scratches, dents, to total damage such as falling or the car can no longer be driven at all.
The method for claiming credit car insurance is similar to the method for claiming vehicle insurance in general. slightly different from the general vehicle insurance claim process. Here are the steps you need to pay attention to:
- Prepare documents in the form of STNK, insurance policy, driver’s license and police evidence in case of total damage
- Send documents to the insurance company
- The insurance company will process your claim
- Customer pays own risk fee (usually IDR 300 thousand)
- Repairs at partner workshops can be carried out immediately
The insurance claim and repair process at the workshop generally takes 3 to 5 working days. However, this is again adjusted to the damage to the car and the completeness of the car insurance claim documents.
If the insurance premium is not paid, whether it fails or exceeds the due date, then your policy will lapse. This means that during the lapse period, the insured cannot make a claim. However, there is no need to worry, because you can reactivate a policy that has expired. You just need to contact the insurance company, broker or insurance agent who previously served you.
Vehicle insurance premiums can be refunded or refunded, but with certain conditions. This has been regulated by the OJK Circular through the Indonesian Motor Vehicle Insurance Standard Policy Article 27 Paragraph 2.
The easiest thing is when you have never made a claim. If you have never claimed vehicle insurance , then the calculation is carried out proportionally based on the unused vehicle insurance period. The formula is the amount of vehicle insurance premiums that have been paid minus administration fees and costs for months that have passed (prorated).
Vehicle insurance premium refunds are usually used when the car changes hands or the insurance application is rejected by the insurance company.
The way to make a disbursement or refund is by contacting the relevant vehicle insurance company . It should be noted, not all vehicle insurance companies allow policy closures. Then, fill out the SPPAKB form (Request Letter for Motor Vehicle Insurance Coverage). This form can be obtained via the insurance company’s official website or by visiting their branch office.
If you have already made a claim, the vehicle insurance refund calculation will be reduced by the cost of car repairs.
For example, we buy car insurance with a coverage period of one year or 12 months. Then, we want to withdraw the premium in the third month. The funds that can be refunded or withdrawn are the premium from the fourth to 12th month minus administration fees and other costs (depending on the company). If you ever make a claim, the funds will be reduced again by the cost of car repairs.
Policies with replacement car facilities can be included as main benefits or extra benefits , depending on the car insurance company concerned. This facility is provided to help policyholders whose cars are being repaired. Usually the usage period is around 5×24 hours.
Meanwhile, several policies that have this replacement car facility feature include ACA Otomate Smart, MSIG Mobil Comprehensive (Basic), and KB Comprehensive (Basic).
After registering vehicle insurance , the policy will be issued within 7-14 working days, according to company regulations. Then, there is a waiting period of around 30 days to make a claim after the policy is issued.
Loading fees or loading premiums in car insurance are the costs of increasing premiums which are calculated based on the age of the car. The loading fee is a minimum of 5 percent of the premium rate per year for cars over 5 years old. However, the figure can be above this percentage, depending on company policy.
If you have already made a claim, the vehicle insurance refund calculation will be reduced by the cost of car repairs.
For example, we buy car insurance with a coverage period of one year or 12 months. Then, we want to withdraw the premium in the third month. The funds that can be refunded or withdrawn are the premium from the fourth to 12th month minus administration fees and other costs (depending on the company). If you ever make a claim, the funds will be reduced again by the cost of car repairs.
Basically every vehicle insurance product has a legal basis. The legal basis for insurance is protected by law, including:
- Law Number 2 of 1992 concerning Insurance Business.
- Criminal Code (KUHP) Article 1320 and Article 1774 concerning coverage and agreements between two parties as well as agreements regarding cases of uncertain events.
- POJK No. 69 of 2016 concerning the Implementation of Insurance Business.
- POJK No. 6 of 2022 concerning Consumer Protection.
- Financial Services Authority circular number 6/SEOJK.05/2017 which regulates the determination of premium or contribution rates for property insurance and car insurance business lines in 2017.
Collision coverage is a type of car insurance that provides coverage for the risk of a collision experienced by the driver. In Indonesia itself, coverage for the risk of collision is included in the basic all risk insurance policy.
Find Insurance as Easy as 1, 2, 3!
Fill out the form to see the option
According to your profile & needs
Free consultation by telephone
With a team of experts, just 5 minutes
Find the best Insurance
According to your needs and budget