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Insurance brokerage

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! 

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Fire Insurance in Pakistan

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.

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Insurance brokerage

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!

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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!

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What Is The Update On Flood Crisis In Pakistan

Posted by Admin on 30 Aug 2022

No one teaches volcanoes to erupt, waters to flood, locusts to destroy, and earthquakes to wreak havoc yet it all is a cruel part of nature. It resets itself despite all the worthless efforts of man to make it a “better” place. It is yet again in the act of resetting showing us humans how powerless we are and how worthless our efforts are when mother nature is threatened.In light of recent events, Let’s Compare Online (Pvt) Ltd has decided to raise its voice and stand with the victims of the flood. We are using our platform to raise awareness and be the voice of our beloved customers and non-customers from the affected areas. The floods have taken our country and are mercilessly snatching the shade off of many heads. Even though nature is ruthless, a man in authority is capable of avoiding the maximum damage and taking protective measures to prevent as much damage as he can. And yet we are again at the mercy of the Almighty, watching our brothers and mothers drown helplessly.Recent UpdatesAs of now, the government has declared a national emergency in light of recent flooding. Over 33 million people have been affected by the floods making it around 15% of our population. The average rainfall has been more than usual in the month of August. The most affected part has been southern Pakistan, specifically Sindh which experienced the highest rate of rainfall this monsoon. The rate has been 8 times higher than usual.Around 30 districts in Sindh are currently under heavy flood. This flood is way heavier than what we experienced in 2010. According to the resources, there are many places where neither the helicopters nor the navy can reach to help those in dire need. This is high time for our nation to look out for each other and donate to reliable sources for the victims and help them as much as we can.How Can I Help?You can send help to get the victims evacuated and donate more and more items of use. Listed below are the ways to help the ones in need:Donating food that can be preserved like canned food, bread, etc. Avoid the food that can go bad or cannot be preserved to be in edible form.While donating clothes and other items, the most unnoticed item is sanitary pads for women and diapers for children. Kindly, donate as many as you can along with clothes and other related items including medications and first aid kits.When donating money, be very cautious of the scammers who may try to loot you by gaining sympathy. Only donate to reliable sources and avoid donating to the ones you may have a hunch about. Be careful  in general while donating anything but be extra cautious with where your money is headed. Today, Let’s Compare Online stands in solidarity with our brothers and sisters in need and be the voice of helpless citizens. We will be updating timely with everything and reaching out to as many people as we can. We will keep in touch and update you about the new progression in our plans for the victims. Till then take care and may Allah keep us all safe from any sudden unfortunate situation. 

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bike insurance in pakistan

Does Bike Insurance Offer The Same Perks As Car Insurance

Posted by Admin on 29 Aug 2022

Bikes and cars are the means of transportation that go hand in hand in our society. This is why it is important to have safe options in equal percentages for both types of transport. Although traveling on a bike is extremely convenient, the ride is twice as dangerous as a car because it does not have any protective cover for gear other than a helmet. Hence making insurance more important since it covers most of your medical care in case of an accident. Let’s Compare Online has updated its insurance policies to cater to the needs of all kinds of drivers and riders. Let’s look at bike insurance and if it fulfills the same perks as car insurance. How Do I Get Two-Wheeler Insurance?If you have already dealt with purchasing car insurance, the following tutorial might sound familiar to you. So, in order to purchase bike insurance, you need to visit our website and generate a quote for your bike. After that, compare your quotes and select the one you want. Once you have selected, you will get a call from us confirming a visit from the survey agent. Meanwhile, we will issue a cover note for you to show your agent. Then we will proceed to issue your policy. The survey agent is there to protect you and us from any misconceptions in the future. After the survey is done successfully, we will issue a policy in your name. Does It Come With The Same Benefits As Car Insurance? Car insurance comes with different types of policies to cater to the needs of all clients. Car insurance holds third-party liability cover, comprehensive cover, tracker, and 2T, 3T, and 5T cover. Just like car insurance, bike insurance also holds all of these policies. All in all, it comes with the same benefits as car insurance. Is NCB The SameTo top it all off, bike insurance also includes NCB. It is a No Claim Bonus, which means that responsible drivers get rewarded for their excellent behavior. This is true in the case of bike insurance as well! Riders who do not claim insurance for the tenure of one year, are rewarded some extra benefits and perks at the renewal of the policy.Medical AdvantagesWhen considering a bike as a ride, the rider is more likely to get hurt in an accident due to a lack of gear that can hold them. They are more likely to get tossed into the air and suffer a great deal of injury in a seemingly minor accident. Hence bike riders require medical assistance way more seriously than car riders. This is why their policies include medical treatments for injuries suffered in case of an accident.Let’s Compare is an online insurance comparison platform now offering extensive plans for fire, bike, and marine insurance along with health, travel, and car insurance. We try to be the voice of customers and address their concerns in any way possible. We are partners with over 10 trusted insurers across Pakistan. So what are you waiting for? Get insured now!