Car Insurance in Pakistan

What Car Insurance Advice Should I Take Along In 2023

Posted by Admin on 21 Dec 2022

With an increase in inflation, there has been a significant rise in the prices of cars and their repairs. This has made drivers more cautious of their property and their finances. Hence many of them opt for insurance now. Auto insurance saves you a significant amount of money when you run into a bad situation where your finances are compromised if you keep up the maintenance of your car. Car insurance plans are designed specifically to cater to the needs of clients in order to provide them with financial cover and stability. So there are plans for everyone. You just need to look for the right insurer with the right plan. Let’s look at some tips that can help you in 2023.Why Is Auto Insurance Policy Essential In Pakistan?Car insurance is important because of many reasons. The first is that if you are a responsible driver, it takes away the majority of your stress since you will be on the safe side when the investigation ensues. But this means that with insurance comes to a greater responsibility of being a responsible driver. Because the investigation team will make sure if you were at fault or not and if you're not at fault or neglect any rules only then can you claim the insurance? Let’s look at the reasons in depth:Legal RequirementIn Pakistan, all drivers are legally required to have third-party insurance. Third-party insurance is not the best and full package but it is the least of the requirements. This is to ensure the safe driving habits of all drivers. Third-party insurance is for when you are a part of an accident that was not caused by you. After confirming the details, you will be eligible to file the claim, and the driver who caused the accident will have to pay for the damages. Financial StabilityPrices for damage repairs have skyrocketed along with the maintenance of the car. Car owners are at constant war with their finances trying to maintain and keep up the cost of their cars but at the same time, they are at the constant risk of running into an accident whether they are driving responsibly or not. Hence auto insurance plans ensure their financial stability by providing support in their time of need and making their life a bit easier by covering their expenses for repairs and damages. Other Protection OptionsCar insurance provides protection against unforeseen circumstances and damages that are beyond one's control like hailing, earthquakes, trees falling, theft, and many other factors. Given that you have provided a safe environment for your car but you still run into a mishap, insurance has got your back.What Are The Types Of Car Insurance Available in Pakistan?In Pakistan, there are 3 types of insurance options available, comprehensive car insurance, third party car insurance, and collision car insurance. Let’s look at each one of them in detail!Collision Car InsuranceCollision car insurance, protect your car in case of an accident with another car or object. If you have a new car you can use this to protect your asset. Keep in mind that as the name suggest it only protects you against collision and no other covers are included.Third-Party Car InsuranceIn third-party car insurance, you and the passenger are protected if the accident is not caused by you. But if the accident is caused by you and the other driver has claimed third-party car insurance, you will have to pay for the repairs. Comprehensive Car InsuranceComprehensive car insurance is the full package with third-party car insurance and collision car insurance other than that it also covers against the act of God and theft. All in all, it protects you against all and any circumstances out of your control.Tips And FAQs For Buying Car Insurance In Pakistan:When buying car insurance in Pakistan make sure that you talk to your agent in-depth and ask as many questions as you can to satisfy yourself and make an educated decision. Some tips are as follows:Should I Claim Insurance every time?Don’t claim insurance for minor damages. Always compare the price of deductible and repairs. If the price of the deductible is more than or equal to repairs then you should pay out of pocket.How To Get No Claim Bonus?Considering the above option you will soon be eligible for a No Claim Bonus, use your no claim bonus wisely. You can build up a maximum of 60% no-claim bonus in 4 years.How To Select The Right Policy?Compare all insurers and all policies you can find. You can find all the policies from an insurance broker firm like Let’s Compare.How To Select The Right Insurer?Some insurers offer the same coverage and the same package for different prices. The price may be higher or lower. You should think about why the price is lower and ask them in detail about the perks of their insurance policy. The policy document on their website should tell you all about it. Compared to that ask the insurer with higher rates for their perks and if the price is justified go for the higher-priced insurer.What Insurance Policy Is Suitable For Rental Or Shared Vehicle?Since this will require extensive coverage for having many risk factors and including other drivers and coverage for them will be required too so the premium may exceed if the insurer provides the coverage.What Documents Do I Need To Buy Car Insurance?To buy car insurance for the first time, you will need your CNIC, car documents, and photos of your vehicle. In case you have been a regular insurance buyer, you will need the previous policy document for renewal. Upon renewal, the company may ask for the previous policy to ensure that you are given your rightful bonus.Now you know all that you should about car insurance policies. So what are you waiting for? Get insured with Let’s Compare! We are partnered with reputed insurance companies so, with us, you are in safe hands. 

What Travel Insurance Advice Should I Take Along In 2023-A Comprehensive Guide

Posted by Admin on 19 Dec 2022

Travel insurance has seen an increase post covid due to it being a necessity when traveling to other countries, especially the Schengen states. People have started to take their health and others’ health around them a lot more seriously than before. This, paired with the general concern about one's finances has caused a significant increase in the trend among people to buy travel health insurance.Let’s look at some of the healthy practices about travel insurance we should take with us in 2023!What Is Travel Insurance?Travel insurance is a document or a certificate that ensures your safety when you travel. This document covers you for many setbacks like flight delays, flight cancellations, lost luggage, and healthcare while on the trip. This will also cover emergency evacuation and other major problems like repatriation and flight for a family member who can nurse you back to health in case you get seriously sick or injured and cannot afford to leave the hospital without any serious repercussions. Why Buy Travel Insurance?Travel insurance, as mentioned above, comes with many perks, saving you a lot of money to spend on the experience you came for! Whether it be an excursion trip or studies, you should be focusing on the purpose of being away from the comfort of your own home and letting someone else cover for your unexpected finances. If you fall sick or fall behind due to delayed flights or any other reason you should always get yourself financially covered so you can spend that money on experiencing something new and unique!What Is Not Covered By Insurance?While a lot seems to be covered by travel insurance but there are many other things that are not covered by travel insurance. For instance, any damage done due to risky behavior is not covered by the insurance policy. The definition of risky behavior varies from insurer to insurer. Following are some examples of risky or reckless behavior while on the trip.Skydiving, diving, or getting injured while waterskating is not covered unless you get an extra cover. Being careless when handling your own luggage i.e forgetting or leaving the luggage unattended. Traveling to high risk areas while being made aware of the dangerous situation.These behaviors are discouraged and are often not covered by insurance policies.What If I Want To Travel For Dangerous Sports?Even though risky or reckless behavior is highly discouraged, people who travel for the thrill and like to live their life on the edge. For such individuals, there are a few insurers that have extensive policies and their premium is much higher as well. This requires proper documentation and paperwork so you can always be honest with your insurer so that they can guide you about the policies that will best suit your travel needs.What Loopholes Should I Avoid When Buying Travel Insurance?Many times we come across or think that we have found some sort of loophole but we may find out in the future at an unfortunate time that it was fool's gold. Let’s look at a few loopholes that you should avoid when buying travel insurance. Health Cover LoopholeTravel insurance comes with health coverage as well. This means that if you face any health issues while traveling, then your travel insurance will be able to cover you or even help you move back home without emptying your bank account. However, some clients may confuse emergency healthcare with regular or mandatory health coverage and may buy travel insurance due to the misconception that it may cover their health completely. This is not the case, you should buy travel insurance to cover yourself but you should not rely solely on it when it comes to your health. Buy health insurance from the country you’re traveling to and use that to cover yourself.Unfair Cover For NegligenceTravel insurance covers you for things that are out of your control and not your fault. But if you’re carefree to take care of your own luggage just because you have insurance to cover the damages then this falls under negligence and will not be covered. Hence, if you have travel insurance it comes with a greater responsibility of taking care of your possessions and yourself. Because filing a claim is followed by the investigation and if any of it claims that you are the one at fault then your claims are dropped. So are you practicing safe travel in 2023 with Let’s Compare? We are a small family of insurance broker company who has their customers' best interest at heart. We encourage customers to practice healthy travel practices with our reputed partners across the country. 

What Is No Claim Bonus

Posted by Admin on 15 Dec 2022

Insurance comes with many bonuses! One of the perkiest bonuses is the No Claim Bonus. It has previously been discussed on our blog page but here we are going to review some more concerns from our audience!Let’s take a look at those concerns and answer your questions!What Is A No Claim Bonus Certificate In Pakistan?No Claim Bonus (NCB) is a certain level of discount awarded to you upon renewal. This discount keeps increasing, given that you have made no claims until you reach the maximum discount. This bonus will be stated on your insurance certificate. There isn't a separate certificate given to you for no claim bonus but it will be mentioned on the policy document upon renewal.Do I Need A Proof Of No Claim Bonus?As mentioned above, no claim bonus is mentioned in the policy document. So upon asking for the proof, you can always pull up your policy document and show them the evidence. Other than that, while applying for the no-claim bonus you should provide proof of whether you have never claimed your insurance policy that year. If you haven’t claimed your insurance, then you are eligible for the no-claim bonus.Who Is Eligible For No Claim Bonus?As a general rule of thumb, if you have not claimed your insurance then you are eligible for NCB. It is a reward to encourage safe driving habits among insurance holders. It is advised to pay for the damages out of pocket if the price of the deductible is more than or equal to that of repairs. This will also ensure that you are eligible for the no-claim bonus.However, there is a way you can be eligible for no claim bonus even if you have claimed an insurance policy. When you claim insurance, a lot of investigation goes into the matter and if you are not at fault you will be granted no claim bonus. How Much Is Maximum No Claim Bonus?In Pakistan, if you have been driving for 4 years, you can get a maximum of 60% no claim bonus. It is the maximum amount of NCB you can get and after that, you reach your maximum capacity. This means that you have rewarded a specific percentage of no claim bonus every year unless you reach the maximum amount of up to 60% no claim bonus.How Long Is No Claim Bonus Valid For?Usually, the no-claim bonus lasts for two years. This means if you do not drive for 2 years, your no claim bonus will expire and you will need to work your way up again to build up the no-claim bonus which will again take 4 years for you to reach its maximum capacity. Now that you know everything about no claim bonus, you should be aware of the fact that insurance, especially when it comes to the biggest investments, should be your first priority. So with Let’s Compare you can navigate and compare policies from different insurers and opt for the best one that suits you. So what are you waiting for? Get insured now!

Insurance And Your Rights

Posted by Admin on 09 Dec 2022

When getting insured, not only should you know the terms and conditions but also what are your rights. In observation of human rights day, we have put together the rights you should know when it comes to insurance. Your duty is to provide all the information truthfully while your insurer’s duty is to provide you with the best possible plan for your needs. Let’s look at the insurance policyholder’s rights now!Right To Choose the PolicyAs a policyholder, you have the right to choose your policy. An agent can only recommend and advise you to get the policy that suits your needs best as an expert in the field and with the data that you have provided but in the end, you know your situation better and only you can make the best decision for yourself. This decision should be made by you without any pressure.What Is A Grace Period For The Insurance?You must have a grace period to pay your annual premium in case you get late due to any reason. This should be especially necessary if you have been a loyal customer with a timely payment. The insurer should not force you to pay the premium during the grace period, although occasional reminders should be necessary. You are free to pay the premium whenever it is convenient for you during that time or if you don’t want to pay and cancel the policy, this should be left up to you as well.Is It Possible To Change Insurance Provider?At any given time, especially annually, you should have a right to change insurer without any consequences. You must not be blackmailed by your current insurance company. They may keep the amount of premium as mentioned in the terms of the policy but they should not force you to stay connected with them. As for insurance brokers and agents, they should be unbiased in advising you to choose the insurer of your choice and assist you to make the process easy for you.Asking For Terms And ConditionsTo be on the safe side, you should always read the terms and conditions when buying a policy. If the document was not attached you should ask for it and it should be provided to you right away before paying for the policy. Any insurer asking you to pay first before reading terms and conditions is trying to scam you and you should not fall for their tactics. Filing A ComplaintIn case of an inconvenience, you must be provided with a complaint number so that you can lodge a complaint. Not only for complaints against the insurer but if you are having any kind of inconvenience, it must be heard and compensated for as quickly as possible. Let’s Compare is an online insurance comparison platform where you can compare and buy an insurance policy that suits you best. We work together to preserve the rights of our clients and try to help them as best as we can. We are partners with reputed insurance companies across Pakistan and we are unbiased in what we advise and recommend to our customers. Get insured now to lead a safe life! 

What Is The Difference Between A Standard And Gold Health Insurance Policy

Posted by Admin on 06 Dec 2022

Insurance is a lot deeper than what the general public thinks. It has many layers that one can unravel but we are here to simplify it. When exploring insurance policies, you may come across different policies from the same insurer. But wait, isn’t there supposed to be one insurance policy per insurer? That’s not true!Let’s look at how it works and why there are multiple policies per insurer and how are they any different from each other.What Is A Standard Policy?A standard policy is the one that is generally the cheapest and the reason is that it provides minimal coverage with the most basic needs covered. This policy can be named differently too, which is true for other policies too. This is the most basic cover one can get from an insurer at a cheap price and if you want more coverage you can always consider policies with a higher rate that can provide a higher cover. What Is A Gold Policy?A gold policy is generally the highest-paid policy with almost all the necessary coverage and an extended period of pre and post-hospitalization cover. Some insurers also include pre-existing conditions while others don’t. ly varies from insurer to insurer. Customers mostly buy these policies out of choice because most insurers suggest you buy the cheapest policy since it is easy to sell.What Makes One Insurer Different From The Other?Now comes the question, if all insurers are given a choice of policy then what makes them different from each other? One ultimate thing that makes them different is their customer service and how much time they take to respond and resolve the client’s issue. Other than that, some policies are excellent in terms of coverage since they provide all the coverage but some policies still don’t cover pre-existing conditions and other aspects of insurance which also plays a great role in making one insurance company better than the other.Which Policy To Buy Then?If you are confused about which policy to buy now, you should read the covers it provides and go through the terms and conditions of each one before buying. It will make it easier for you to narrow down what you want and eventually which policy suits you the best. If you are buying from an insurance broker firm like Let’s Compare, you can ask them to guide you on which insurer has the best service and go for that one.Conclusion:Let’s Compare is an online insurance comparison platform working to build trust among clients and serve them best. We are partners with reputed insurance companies across Pakistan which makes it easier for us to build trust among clients. We deal in travel, health and car insurance and mainly answer our client’s questions about insurance. If you are not insured then get insured now with one click and from the comfort of your own home! 

Why Do Insurers Ask So Many Questions

Posted by Admin on 02 Dec 2022

Have you ever gone to buy the insurance and caught yourself stuck with an agent who won’t stop questioning you? Maybe they’re asking for your birthday or maybe they’re asking for the color of your car or perhaps how many siblings you got?These questions might be of a slightly personal niche but don’t worry they are not really interested in retaining this information. They just want to know accurate information most of the time to make sure that you are issued the right policy for you. Like they might be asking for your birthday to know that you fall under the age range of your age group. Maybe they’re asking the color to provide specific information to the investigator and for the number of siblings or children so they can refer to the health insurance plan that best suits you! Let’s look at some questions that are asked by the insurers so we are better prepared for what is to come!How Much Savings Do You Have?They might ask you about your savings. The insurance industry focuses a lot on financial stability and keeping your finances safe for the future. So some insurers may ask you this out of goodwill so they can give you a better plan which may help you save the most in the future. You can also ask this question if you need any financial guidance.What Do You Like And Dislike In Insurance Policy?If you had an insurance policy before or had some exposure to insurance they might ask you if there are some aspects of insurance that you may or may not like. This will help them find you a policy that best suits your interests. You can also ask for their opinion from your point of view and what would they go for if they were buying an insurance policy.What Is Your Most Important Asset?This is the question asked when you are indecisive about what to protect with your limited budget. This question helps us get rid of other uncertainties and decide what to protect first. This way we can also recommend the best policy for you! We have a range of policies for you all from cheap to expensive.All of these questions can be asked from either side. You can ask these questions and any other questions that concern you about insurance and finances or anything that has been bothering you and you want to be covered. Let’s Compare is an online insurance comparison platform and we value our client’s comfort. We have a user-friendly UI that helps clients navigate through pages easily from the comfort of their homes. We are partners with the best insurance companies across Pakistan and we develop trust through honest opinions and unbiased advice. Get insured now with Let’s Compare and live the safest life! Protect your finances!