Choosing car insurance is not easy. Especially in the midst of stiff competition today. Almost all insurance companies have vehicle insurance products. Stay prospective customers to choose which are worth taking. Therefore below we present some criteria so that no one chose:
1. Prospective customers do not dwell on the cheap premium rates. Therefore, in today's competition, many insurance companies slam prices, offers cheap premium rates. Though not necessarily a guarantee of service.
2. See the insurance package offered. For example, extensive warranties to how much. Therefore, the scope of cover should be adjusted with the desire and ability to prospective customers.
3. See also the network of insurance companies concerned. For example, how many have a branch office or how many partners have a garage, so that no claim did not wait long to repair the vehicle or vehicles reported missing.
4. Could be asked first ease, facility or what added value can be obtained when buying the policy in the company. For example, is there a tow truck, car replacement or hotline services, mechanic services, ambulances and so forth. And, last but not least is the ease to make changes as well as ease in asking.
5. Consider also the reliability of the insurance company. Do not get so there is a claim, the workshop did not have a partner. Therefore, many insurance companies claim they are the best. Though financial condition was very severe.
In addition to the above, there are several factors that should be considered in the process of selecting an insurance company included in choosing the product. The thing to keep in mind that in choosing a private insurance company, then that should be considered in general are three factors.
First, the financial strength (security). Second, the service (service). And third, the cost or burden. The financial strength of insurance related to the company's financial ability to fulfill its promise if the situation requires. It is important to know, because not a few insurance companies are looking at the flashy exterior. For example storey building, vehicle good directors. But when there claims from customers, the company can not afford to pay.
In assessing the financial strength of this there are several benchmarks that need to be considered.
a. Assets and liabilities. It can be seen from the consolidated balance sheet is published in the newspaper. See also, whether planted in the current investment or longterm. In terms of liability (ability to pay off liabilities) will look at the balance sheet, how the debts by reinsurers, how he fulfilled his obligation to pay claims, and so forth.
Indicators of net liabilities include equity (own capital) divided by net premiums `` (net premiums) of at least 50%. Own capital divided by `gross` premiums (gross premiums) of at least 20%. Limit level of solvency, as seen from its own capital divided by net premiums of at least 10% and investment funds technical reserves divided by at least 100%.
b. Underwriting Policy. On the balance sheet and annual report will be seen that the insurance is still a profit, or profit growth. This means that the policy underwiting good.
c. Its underwriters. Insurance has staff who are qualified or not. It is known from the profile of companies that includes the underwriters him.
Services (service) is a reflection of the extent of human resources at the company's qualified or not. Moreover, insurance companies are selling a service, so excellent service is the key. For example, the extent to which the speed of service in both the policy issue especially in the payment of compensation or claim.
In addition, the matter of service can actually be felt by the customer. Is this insurance company was absolutely the best services for its customers.
In this connection it should also be questioned, whether the insurance company's reinsurance insured first-class safety. It can be seen from the annual report. It is important to note, because if the company is not backed-up by reinsurance, the company is likely to be speculative in receiving the premium.
The problem is how much the costs incurred by insurance companies in operation. If it is greater than the cost of entry, it is clear the company is not efficient. If it is not efficient, it will end up losing money. And, if you continually lose, certainly not healthy.
In this connection could also see the price premiums. Compare the price of insurance premiums with other insurance. Which is really good quality.
Today the government has set a benchmark of health insurance (not the only one) is through mechanism RBC (Risk Base CAITAL). If RBC number was large, this means the company is valued in good condition. But we should not be fixated solely with RBC numbers. Therefore, it could be a large company that is doing such a massive expansion to open many branches, then his RBC numbers would be small.
Instead, there is a small insurance company but never to expand, the RBC number was probably much greater.
Thus, RBC numbers can not be used as the only measure, whether the insurance company is healthy or not.
In this case, also noteworthy is the performance of the company in the last two or three years. How big profits every year, how much gross premiums they receive each year, how much additional capital and assets every year.
And, last but not least is how the company's management behavior over the years. Is there a management company for this broken promise? Has this company experienced management defaults and so forth.
