How Much Third-Party Insurance Will Benefit Me

Posted by Admin on 16 Sep 2022

When looking for car insurance, there are many insurance options to choose from. From comprehensive ranging from 2T,3T to 5T and then Third-Party Liability. So what’s the buzz around Third-Party Liability and why is it so confusing to grasp?The simple answer is that it's not as confusing! Let’s Compare Online has always been up to date with the client’s concerns and try to answer as many mind-boggling questions as they can. So to answer this question, let’s first look at what it offers.When Is Third-Party Liability Cover Applicable?Third-Party Liability cover is only applicable in the case of an accident caused by you. This means that if you are not responsible for the accident then you cannot claim your third-party liability policy but the other driver that caused the accident should claim their policy in order to pay for the damages done to your car. It is more like a light slap on the wrist rather than full compensation for the careless driver.Since it works this way, you can also ask for the insurer’s information about the person who caused the accident and ask them to claim their policy so that you can pay for the damages. How Does It Help Me?As the driver who caused an accident, this policy will let you save a lot. Since the other driver will ask you to pay for damages, which can set you back for months or even years, third-party liability will have your back in paying the amount since you don’t need to pay it out of pocket.Will It Cover Me For Damages To My Car?Unfortunately, third-party liability will not help you pay for the damages caused to your own car. It will only cover you financially to pay for the damages to the car you caused damage to and for your injuries you will need to cover them yourself and out of pocket. Why Get Third-Party Liability Insurance Then?You don’t have to! Yes, despite popular belief you don’t have to get third-party liability insurance. It is only necessary by law to “at least” have third-party liability insurance. Having a cover necessary by law does not mean that it is the best one out there. It is only required to encourage all drivers to encourage safe driving habits.People often get confused with comprehensive due to the reason that the government tells you to have this insurance. Still, it is not a full cover and it benefits you slightly and is more beneficial for other drivers. Let’s Compare is an online insurance comparison platform working on educating clients on various aspects of insurance. We serve all types of insurance plans from reputed insurance companies across Pakistan.  We take great pride in serving our clients with the best insurance plans and unbiased advice. Most of the decision is left up to the clients unless we feel the need to intervene and serve them with a better option! Go get insured now!

Which One To Opt For-Comprehensive Car Insurance or Third-Party Liability

Posted by Admin on 14 Sep 2022

The two most popular insurance types are comprehensive and third-party insurance. They are the most in demand. Comprehensive due to its full-fledged cover for any third party for its mandatory demand and lowest premium. Both play a vital role in protecting you and your car. Let’s take a look at both of them to see which one is more beneficial for our clients. Third-Party LiabilityThird-party liability insurance is the plan that gives you financial cover in case of an accident caused by you. The insurer covers you for the damages done to the other driver’s car and health and so you don’t need to pay for the damages out of your pocket. Third-party liability is also mandatory by law, this is the least coverage you should have. Having third-party liability ensures that you drive carefully and other drivers around you stay safe. This insurance plan also covers the hospital bills for the injured driver till they are nursed back to health. Comprehensive InsuranceComprehensive car insurance is in one policy and the most you can ask for. It covers each and every damage and injury to your car and you. It covers your car in case of theft, natural calamity, accident, and everything you can think of. Not only that it also provides cover in case of third-party liability.Following are the covers provided by the comprehensive car insurance policy:Accidental damagesTheftTotal lossFireRiots and strikeNatural calamitiesThird-party liabilityMedical expensesAs we can see that the third party liability is already included in comprehensive car insurance with health cover for the driver as well. So in the long run, comprehensive car insurance is more feasible. Although we always leave the decision to our clients in order to get their utmost satisfaction if the clients ever look up to us we always recommend them to buy comprehensive car insurance rather than any other because it is a complete package and covers everyone without discriminating. Conclusion:The premium might be a bit higher than the third-party liability but in the long run, it'll cost you way less. Let’s look at a scenario where you caused an accident and had to claim your insurance to pay off for “their” damages. But what about yours? You will still need to pay for your damages and that can cost you way more than a comprehensive car insurance policy. So it is better to pay for the comprehensive policy than to save money and get the third-party liability policy.Let’s Compare Online is an insurance comparison platform where you can compare and buy insurance policies online from different insurers across Pakistan. We take great pride in excellent customer service. We aim to satisfy customers with each and every aspect of their decision which is why we give unbiased advice and we are affiliated with trusted insurers across Pakistan as well. So get insured and live safe today!Related topic: What is Comprehensive car insurance?What is Third-party liability?

Insurance Glossary-Important Terms You Should Know

Posted by Admin on 13 Sep 2022

To save time and other resources on both ends it is important to know the correct terminology for the product you are buying. You can always ask and learn from prior experience but once in a while, it is refreshing to have a client who is educated in the area of insurance. So let’s take a look at some standard terms used in the insurance industry!AgentAn agent is someone who is a representative of an insurance company. They are the ones who get in contact with you and it is their duty to sell you the right products that you require. Not only that, they are obliged to let you know if you are buying something you don’t need because your prior policy already includes that.Cover LetterA cover letter or a binder is a temporary document you get which covers you till you get an insurance policy issued. This usually happens in the case of car insurance, where you are provided with a cover letter that acts as temporary coverage for your vehicle. Bodily InjuryThis is mostly under the liability cover. It covers the physical injuries of the person involved in an accident. It covers their medical bills and overall treatment till they are back to health. ClaimAfter you have your policy you can “claim” it whenever needed with the proof. Claiming is when you face an accident or mishap and then rather than spending money out of pocket to repair or recover your belongings you ask your insurer to cover you. This is exactly what you are getting insured for. But be mindful that while claiming you need to provide proof of damage. DeductibleThe deductible is the amount you need to pay out of pocket when claiming the policy. It is a sum of money that needs to be paid before the claim. It is less than the price of the policy. But you should also consider if the amount of claim is more than or equal to the repair price, if so you are better off just getting the damages repaired on your own rather than buying insurance. Grace PeriodThe grace period follows the premium expiration date during which you can pay for the policy renewal so the coverage continues without any interruptions. InsurerThe insurer is the company you get the cover from. It is different from an agent. The agent works for an insurer while an insurer is a fully functional body on its own.LiabilityLiability is when you cause damage to someone else. Most times they ask for you to pay and you can give them your insurer’s information and they can contact them to get covered. PremiumPremium is the amount you have to pay in order to get your insurance policy issued. This needs to be paid before the insurance is issued along with your documents like ID card, car documents, travel dates, and other documents required for your respective insurance policy. Let’s Compare Online is an insurance comparison tool you can use to get free insurance quotes for all types of insurance. We have travel, health, and car insurance plans available. We will be launching our new products soon, stay tuned and get an early bird discount! 

What Are The Different Aspects Of Fire Insurance

Posted by Admin on 08 Sep 2022

It goes without saying that “Prevention is the best cure!” because preventing any damage costs you a lot even if you run into it later on in life. Prevention does not only help you entirely prevent the disaster but a good prevention strategy also prepares you for “what if’s” in life. Just like good things, sometimes bad things are bound to happen as well but the best way to prepare yourself is to invest in taking preventive measures. Fire insurance is one such preventive measure. Fire damage is one of the most devastating and damaging tragedies to happen. You don’t only lose the material to the point of oblivion but sometimes it costs you your life and health leaving you with uncompensated mental and health trauma for decades. Fire insurance protects you against some major losses in life if an unfortunate tragedy ever happens. Let’s look at some aspects of fire insurance.How Does Fire Insurance Work?Even though it is provided on the homeowners' protection plan, it is also a standalone policy that you can purchase from us. How it works is very simple. It works like any other insurance policy you may have. It reimburses the damages caused in case of fire. It is advised to read your policy thoroughly because it also covers a variety of other damages related to fire like smoke. Other than that it also covers the water damage. So make sure you read the policy thoroughly when you purchase so when it comes the time to claim it without any suspicions and difficulty. CoverageFire insurance coverage is one of the most fulfilling coverages simply due to the fact that it does not consider depreciation like the age of your home. In case of any damages, the insurer will reimburse the current market value of the damages. Not only that but the insurance company will reimburse for the similar value products that got damaged in the fire. What Does It Cover?Fire insurance comes with 4 major coverage plans. They are as follows:LiabilityThis coverage is a life saver since fire insurance comes with many health hazards as well if someone was to be present during the incident. If someone gets injured during fire insurance, the insurer reimburses the cost of their treatments and other procedures required to nurse them back to health.Loss Of UseIf the devastating disaster hits too hard and you lose everything due to it including your home as well, the insurers provide you with a temporary property to stay on and help you through your most difficult time. Property DamageThe fire damages your property and most of it is damaged beyond repair. In that case, the insurer reimburses for all the damages and pays you the current market value for the damages. DwellingIn the case of a dwelling, the insurance company pays for the reconstruction of your home, and sometimes it also covers the cost of lost electrical appliances. It should be stated in your insurance policy. Make sure that you read your policy thoroughly before and after buying it. Let’s Compare is an online insurance comparison platform ready to launch its new products and many new features. Be ready to avail the early bird discounts and celebrate with us! We are partners with trusted insurers across Pakistan. Get insured and lead a safe life.

Least Visited Countries In Europe

Posted by Admin on 05 Sep 2022

Europe is the tourist hub with over 616 million visitors last year. It is the most visited continent in the world. Despite being the most visited country, there are still some spots that are hidden from ordinary sight. These places are a gem to visit for people who love to travel. We have compiled a list of places that might intrigue the interest of people with different aesthetic senses. Let’s take a look at some of these. Mount TitanoMount Titano is the highest peak in San Marino, stretches up to the Adriatic Sea serving an amazing landscape in between stretching to Italy. Old stone benches serve as the resting spots for tired tourists as they explore the city. They also add to the city's aesthetic, making the journey even more welcoming while you sulk in the warm sun.It is also a spot to visit for savvy shoppers and day-trippers! Other than that it holds the repute for having the best Sammarinese cuisine with the unique cheese.Titano TheaterBirthing place of many historical classics and Dan Brown's set from Inferno, Palazzo Vecchio in Florence. The place produced many neoclassical basilicas. It was built in the 19th century. It is a perfect place for readers interested in symbolism and vintage taste in art, music, and other works.Faroe IslandsAlthough quite expensive to reach but worth every dime, the Faroe Islands are tucked in the north of the Atlantic Oceans. They serve cosmic landscapes and eye-catching sceneries. They serve as eye candy for all the eyes that behold the sight.MacedoniaHome to rich history and masterpieces, Macedonia is one of the least visited places in Europe. It has many beautiful lakes and gigantic mountains. It is vastly unexplored by travelers although it is expected that its popularity may grow significantly in coming years.SerbiaA perfect blend of up and down with music blasting in the nights and relaxing afternoons, Serbia is one of the least explored spots due to its history. But now it can compete with Berlin and many other attractions famous for lavish and luxurious lifestyles and partying. Its popularity is ever-growing but it still remains largely unexplored. LatviaLatvia remains one of the most unvisited places with nature preserved perfectly. It has a scene like that of heaven with clear waters and dense forests. It also has sandy beaches. Other than that tourists also find museums with historically preserved artifacts adding to the attraction. You can easily find leisure time here and visit all the attractions conveniently. Conclusion:While you travel, do not forget to grab a travel insurance policy since you wouldn’t want to miss out on any unexplored opportunities. Let’s Compare Online brings you pocket-friendly travel insurance plans that you can avail yourself of from the comfort of your own home. Let’s Compare Online is an insurance comparison platform, partners with over 10 insurance companies across Pakistan. We aim to provide the best customer service and unbiased advice. We make travel safer for you so grab on to your policy now!

Car Insurance in Pakistan

Beginners Guide How To Buy Car Insurance Pakistan

Posted by Admin on 01 Sep 2022

Are you buying car insurance in Pakistan for the first time? Are you confused about the info dump that you got when you started searching? It is easy to get overwhelmed when buying car insurance the first time. There are people telling you to buy it because they had an amazing experience and there are people telling you not to buy it because they had a horrible experience. However, there are some specific things that you need to take notice of when going to purchase the insurance policy other than that is not something for you to worry about.Premiums And PackagesWhile browsing for insurance, you may find a comprehensive insurance policy viable for you but out of budget because you had much lower than you expected in your mind. There can be many reasons for this, including the fact that the policy you heard about was probably a third-party liability. Another case could be that the person you consulted might have a group insurance plan. The premium of your insurance policy depends greatly on your package and plan. The higher the coverage the higher the premium will be. There are two main types of coverage plans. Third-party cover and comprehensive coverage. Others include 2T, 3T, and 5T. They have comparatively less cover and less premium due to the cover. What Is Comprehensive Car Insurance?The most suggested cover is comprehensive coverage because it covers everything under one policy and you don’t have to worry about missing out on anything. It completely covers your car in case of loss or damage due to anything. The factors range from your own fault to the act of God. Everything is covered in all circumstances but keep in mind that there should be no foul play because then you will lose the trust of the insurer and it will be highly unlikely for you to get covered again. What Is Third-Party Cover?Third-Party Cover or Third-Party Liability is the least required cover for all the drivers. However, it only covers the damage to the other car caused by you and does not cover the damage or loss of your vehicle. This cover ensures that you are financially covered in case of an accident and the other drivers ask you to pay. With this, you will not need to pay out of pocket. Value And Model Of Your CarAnother important thing to keep in mind is the value and model of your car. The value of your car also determines the premium since companies only disclose the percentage of premium and cover and you can estimate the premium. For instance, if a company offers a 2% rate and the rate of your car is PKR 20 lacs then the premium will be PKR 40,000.Another factor that may affect the premium is if the car and its parts are imported. Because in that case, it will add on the premium due to parts needing to be imported in case of any damage or loss.Conclusion: This is all the necessary information you need if you are a first-time insurance buyer. It is easy to get overwhelmed and hence here we are for aid. Let’s Compare is an online insurance comparison platform serving clients the best insurance policies and taking pride in great customer service. We are partners with reputed insurance providers across Pakistan. Avail of impressive discounts on car insurance policies from Pak-Qatar. Their current rate is 1.7% on all policies. Get insured now!