logo
BLOG DETAILS IMAGE

Car Insurance in Pakistan

Can I Use My Insurance Policy To Drive Someone Else's Car

Posted by Admin on 01 Dec 2022

Having a car insurance policy is mandatory and knowing how it works is even more important than that! You may have insurance but if you don’t understand how it works you can put yourself in grave danger. 

It is important to talk to a professional or get guidance from someone in the field. This is why Let’s Compare is here to help their customers out! Let’s answer the most crucial question about car insurance Pakistan: can you drive someone else’s car with your car insurance policy?

What Are The Important Elements Of a Car Insurance Policy?

There are a few crucial things to notice in a car insurance policy. First is the vehicle information including what type of vehicle is getting insured, the vehicle number, and who is the owner of the vehicle. Once you have gone through this, read the terms and conditions since they vary from insurer to insurer but a big part of them remains the same. 

Why Is This Information Important?

All the information about the vehicle and owner determines that both the car and the insurer are covered only if they are both a part of an accident. A few years ago, you could get coverage under third-party insurance if you were driving someone else’s car and caused an accident. Both you and the vehicle were covered. But due to recent changes in terms and conditions, this is no longer viable. 

The vehicle needs to be insured in the name of the driver or owner for an insurance policy to be viable. Otherwise, you may face a lawsuit under the cover of theft. This is the only way the vehicle can get covered but you will still not get covered. 

Is It Applicable For My Car As Well?

If someone drives your car without your permission and causes an accident it is considered theft and they are not covered even if they have an insurance policy but your vehicle is covered under theft. This change was due to the increased rate of vehicle theft. 

What If I Given My Car Away?

If you have given your car away or sold it, make sure to change the name of the insured on your insurance policy so that they can avoid such hurdles in the future. It is okay to lend your car to drive but the car should be insured in the name of the one who drives the most or the owner of the car. 

There is one way, the driver can get the cover on someone else’s car. That is if the owner of the car is in the car. This gets rid of the theft allegation but since the insurance policy covers both the owner and vehicle the third person can get a cover for the passenger.

Now that you have your queries answered, you can now clear your misconceptions and take preventive measures from both sides and educate everyone around you about how policy works and what they should check before making any decision like this. Let’s Compare is an online insurance comparison platform that makes getting insured convenient. Go get your car insurance now!


 

Related Posts

Blog Image

Health Insurance in Pakistan

Let’s Compare Shakes Hands With Hello Doctor

Posted by Admin on 27 Jan 2023

Yes, it’s true! Let’s Compare has joined hands with Hello Doctor being mindful of their client’s comfort. Hello Doctor is a virtual consultation platform where you can get the best online consultation from the comfort of your home. You have access to healthcare, advice, and treatment online. Not only that but they also offer the prescription to be delivered right to your doorstep. Hello Doctor has launched its online clinics in order to make healthcare convenient and accessible for everyone. They offer affordable consultation and medication. With Let’s Compare now, you can not only get insured but also consult your healthcare provider to choose an appropriate health insurance plan and invest your resources in the right place!So what are you waiting for? Get online health insurance in Pakistan and healthcare side by side with Let’s Compare and Hello Doctor!
Blog Image

Car Insurance in Pakistan

What Is Commercial Vehicle Insurance

Posted by Admin on 26 Jan 2023

Car insurance is one of the most popular insurance types sold in the insurance industry. Cars are considered the ultimate assets which is why they are valued much more than other possessions. Most people are passionate and take car care personally, which is why they do all they can in order to ensure the safety of their cars. Ever since there has been a hike in inflation, people have started using their vehicles for commercial purposes to make some extra money on the side. A common misconception shared by people trying to use their vehicle for commercial use is that their vehicle is insured under the standard insurance policy also known as personal car insurance. However, this is not the case. So let’s take a look at how you can cover your vehicle for commercial use. Why Is My Vehicle Not Covered For Commercial Use?Your vehicle is not covered under commercial use because using your vehicle commercially involves risk higher than regular use. It puts you and your vehicle at an increased risk hence it requires additional coverage. You use your vehicle a lot more than work and wandering. Oftentimes the risk is higher due to your hands being tied and you not being able to decline due to unfamiliar areas putting your vehicle at a greater risk of theft or damages and putting your life on the line. What Is Commercial Car Insurance?Commercial car insurance is an extended cover for your car when you intend to use your vehicle for earning. It is different from personal car insurance because it has cover options. Personal car insurance is designed to cater to your personal needs while commercial car insurance caters to all kinds of risks involved in your industry. What Can I Do With My Car Covered Commercially?There are a lot of concerns that need to be addressed when you are using your car commercially. You have little to no choice but to decline when expecting a paid service so it can cause a lot of damage to your vehicle and might put it at a greater risk of being damaged in any way. Following are the things commercial vehicles are most commonly used for.Offering pick and drop to clients.Delivering goods.Towing vehicles.Delivering intercity.Haul heavy loads.All of these tasks can put you and your vehicle at a greater risk of getting damaged. This is why it is important to have your vehicle commercially protected if you are using it for paid services.Who Is Covered Under Commercial Auto Insurance?Commercial auto insurance covers the driver and the passengers for personal injury under the bodily injury cover. It also has property damage cover for when you are at fault. In conclusion, commercial auto insurance is a must if you use your personal or business car for commercial use. It provides extended coverage than private car insurance so the premium may be higher depending on the insurer. This is due to a higher risk of vehicle damage or bodily injury.So get insured, and have safe driving!
Blog Image

Fire Insurance in Pakistan

Fire Insurance And Its Features In Pakistan

Posted by Admin on 24 Jan 2023

Insurance protects you and your assets in case of an accident. Everything can be insured against all kinds of threats. Fire insurance works similarly, it protects you and covers your assets in the event of unexpected fires. Fire insurance has many features that we will discuss in today’s blog. Let’s take a look at them now!What Is Fire Insurance?Fire insurance reimburses the cost of repair, reconstruction, or replacement of any property damaged during the incident of fire. It also covers the damage caused by smoke and water while firefighters put away the fire. Hence it covers all kinds of property damage caused during the fire. What Are The Features Of A Fire Insurance Policy?There are many features of a fire insurance policy. Some of them are discussed below!Insurable Interest In PropertyThis condition implies that the survival of the item getting insured should be beneficial for the policyholder and if the item is lost during the fire, the policyholder can suffer a loss. This is applicable both at the time of buying policy and at the time of claim.Principal Of Utmost Good FaithThis states that at the time of buying the policy, the insured must spill all the details of whatever is being insured. The risk of the building catching fire, environment, construction of the house/shop, and other related queries. This is important because the insurer needs to calculate the risk and issue the policy accordingly. During any time when the insurer finds out that the vital information was hidden from them, they have all the rights to terminate the policy. The insurer is also responsible for telling you all the details about the policy and suggesting you the best one that suits your requirements.  Contract Of IndemnityThis states that the policyholder must only claim up to the limit settled at the time of buying a policy. In case there was no damage, the claim is no longer acceptable. These were some features of the fire insurance policy. Now, look at who can get fire insurance.Who Is Eligible For Fire Insurance?Anyone who wants to protect their assets is eligible for fire insurance. It benefits the shopkeepers or business owners the most. For example, if you own a business of furniture or clothes and in case of a fire, these two things will get affected the most and will cause huge financial damage. So a shopkeeper or business owner must have fire insurance for such instances.  In conclusion, if you have any asset that you want to protect from fire whether it be your whole house or your business you must get fire insurance. This will reimburse the damages done by fire, smoke, and water while putting out the fire. Some policies may even offer the temporary residence for the ones who lose their houses and living spaces to fire. It also has emergency medical cover in case of burns and damage to one’s own health. So get insured now!