Tips For Choosing A Car Insurance

Choosing car insurance is not easy. Especially in the midst of fierce competition today. Almost all insurance companies offer vehicle insurance products. Stay prospective customers to choose which one decent take.

Therefore, we present below some criteria so that no one chooses:

1. Potential customers do not dwell on the cheap premium rates.

Therefore, today's competition, many insurance companies slam prices, offers cheap premium rates. Although not necessarily a guarantee of service.

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2. See the insurance package offered.

For example, how many extended warranties. Therefore, a large guarantee must be adjusted with the desire and capacity to potential customers.

3. See also the network of insurance companies concerned.

For example, how many have a branch or how many partners have a garage, so no claim did not wait long to fix the vehicles or missing.

4. It might be asked first ease, facility or what added value can be obtained when purchasing the company policy.

For example, is there a tow truck, replacement car or hotline services, mechanical services and ambulances. And last but not least, it's easy to make changes, as well as ease to ask.

5. Also consider Bonafides insurance company.

Do not be so there is a demand, the workshop has no partner. Therefore, many insurance companies claim they are the best. As the financial situation was very severe.

In addition to the above, there are several factors that should be considered in the selection process of an insurance company, including product selection. The thing to keep in mind that the choice of a private insurance company, then it should be considered in general are three factors.

First, the financial strength (security). Second, the service (service). And thirdly, costs or expenses. The financial strength of insurance related to the financial capacity of the company to fulfill its promise, if the situation requires. It is important to know, because a lot of insurance companies are looking outside flashy. For example a building floor, good delivery vehicles. But when there are claims of customers, the company is unable to pay.

In assessing the financial strength of these there are several criteria that must be considered.

a. Assets and liabilities.

It can be seen from the consolidated balance sheet is published in the newspaper. See also, if planted in the current investment or long-term. Of liability (ability to repay liabilities) will look at the balance sheet, how the debts of reinsurers, how he fulfilled his obligation to pay claims, and so on.

Indicators of net liabilities include equity (equity) divided by net premiums `` (net premiums) of at least 50%. Equity divided by gross premiums (gross premiums) of at least 20%. Limit the level of solvency, as seen from its own divided by net premiums capital of at least 10% and investment funds technical reserves divided by at least 100%.

b. Underwriting policy.

In the balance sheet and annual report will be seen as insurance is always a profit, or earnings growth. This means that policy underwiting good.

c. Its underwriters.

Insurance has qualified or not personal. It is known by the company profile which includes subscribers him.

Services (service) is a reflection of the importance of human resources skilled in business or not. In addition, the insurance company is selling a service, so excellent service is the key. For example, the extent to which the speed of service to both the question of the particular policy in the payment of compensation or claim.

In addition, the service can actually be felt by the client. Is the insurance company was absolutely the best services for its customers.

In this context it is also worth asking if the reinsurance security class insurance company. It can be seen in the annual report. It is important to note, because if the company is not backed up by reinsurance, the company is likely to be speculative to receive bonuses.

The problem is how the costs incurred by the insurance operating companies. If it is greater than the cost of entry, it is clear that the company is not effective. If this is not effective, it will end up losing money. And if you lose constantly, and certainly not healthy.

In this regard could also see the price premiums. Compare prices of insurance premiums with other insurance. When the quality is really good.

Today, the government has set a benchmark for health insurance (not alone) is mekanime RBC (Risk Base CAITAL). If RBC number was high, it means that the company is valued in good condition. But we should not be obsessed only with numbers of RBC. Therefore, it could be a great company that makes such a massive expansion of open many branches and its RBC numbers would be low.

Instead, there is a small insurance company, never to grow, the RBC number was probably much higher.

Thus, the number of RBC can not be used as the only measure, if the insurance company is healthy or not.

In this case, as remarkable is the performance of the company in the last two or three years. What is the magnitude of the profits every year, how gross premiums they receive each year, how much additional capital assets each year.

And last but not least, this is how the behavior of the leadership of the company over the years. Is there a management company of this broken promise? A company that experienced management and other defects.

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