What Are 2T, 3T, and 5T, And Why Are They Important

While browsing through the insurance policies, you might have encountered the terms 2T, 3T, and 5T. These terms might have sparked your curiosity. Let’s Compare is here to let the cat out of the bag.

Many companies give a lot of coverage options for different vehicles. These covers help protect the vehicle and the driver. There are many coverage options necessary and available for cars. These coverages include 2T, 3T, and 5T. These coverages refer to the range of cover a company provides. Let’s look at what they cover.

2T Cover

The 2 T’s in the 2T cover refers to the protection against Theft and Third-Party Loss. It covers the vehicle in case of theft and reimburses the cost. It also covers Third-Party Loss. It is the most basic coverage. In Pakistan, vehicle owners must have this cover.

3T Cover

3T cover includes two previous covers in 2T cover and Total Loss. If your car gets into an accident and is damaged beyond repair, the insurance company reimburses it. Total Loss and Theft cost is covered according to the insured value or market value. The choice is made considering which one costs lower at the moment.

5T Cover

This cover is topped with the Tracker and the Terrorism cover. In the event of terrorism, if your vehicle is damaged, your insurance company reimburses for the cost of those damages. TPL insurance policy offers Tracker in 5T Package. The trackers help you locate your vehicle anywhere, anytime. This is especially useful in an event of theft.

Now that you know about the 2T, 3T, and 5T, you can choose and customize the perfect plan for yourself. Let’s Compare brings you all the plans from the 10 best insurance companies in Pakistan, including TPL Insurance. Go to our website and select the best insurance policy for your vehicle!

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!

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!

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!

What Are 2T 3T and 5T & Why Are They Important