Steps to Manage Automatic Policy Renewal Smart Car Insurance - When you take out insurance you need to be well informed about the management process that sometimes confuses customers. Starting from registration, premium payment every month, claim process until policy extension process. Why do we need to know it is not just just surrender to the insurance agent who helps us? So that we can feel the benefits of insurance products that we have purchased maximally. The agent is on duty to assist us in the management of insurance, but he not only takes care of 1 person but more, so he can forget to deal with your business.
As an insurance customer, you do not forget to extend the policy you purchased, because if not, the protection you get will stop. For that, you must remember when your policy needs to be extended in order to still get the benefits of protection. Many of the car insurance customers to follow the program auto-renewal (automatic renewal policy) offered by the insurance company. Without thinking again they take auto renewal simultaneously purchase car insurance policy. Consideration of the customers is the ease of premium payment process and no longer worry insurance protection is closed if not extend the policy.
Of course this is a separate business opportunity from an insurance company that offers automatic policy renewal system. Even some insurance companies to add premium discounts to attract customers to take advantage of the system. A glimpse of the auto-renewal system implemented by insurance companies is considered to facilitate the financial management of customers, but it turns out there are risks that need to be aware of the users of the system users.
Do you want to know what the risks will be faced by car insurance customers if taking the auto-renewal system ? If you want, then see what we describe below:
1. Understand the auto-renewal system that insurance companies offer
Some insurance companies do not constantly offer auto-renewal systems, some apply during one automatic policy renewal period, after which the customer must manually extend the policy. For that, understanding the policy with detail is very necessary. Therefore, every insurance company has different rules and regulations in treating the service.
The risk of following an automated policy extension system may appear at any time. Chances are you forgot to renew the policy because you thought it was following the auto-renewal system, so it makes you calm in extending the policy. Though insurance companies only impose one period of extension only. This is certainly confusing considering your busy busyness. So ask for an explanation of the auto-renewal system the insurance company offers, so you know what to do next.
2. Check the premium you pay every month
When you start buying a policy, then there is a premium price approval process that must be paid between you and the insurer. Insurance parties usually offer attractive offers such as premium discounts or anything else for you to buy the products they offer. If you choose to use an auto-renewal system, premium payments are made automatically by debit from your bank account. Therefore, you need to check at least once every 3 months.
This is done so that you do not overpay the premium, amount if there is no discount again, but based on your agreement and the discount insurance is still valid. Your meticulous attitude to avoid cheating the insurer in imposing a discount. If you experience a mistake premium payment, immediately confirm to the related insurance. Do not delay, if immediately report it will be handled by the insurance. That way you do not lose.
3. Always pay insurance premiums even if the car has been sold
One of the risks of using an automatic policy renewal system that you need to be aware of is when your car is sold you still pay the car insurance policy. At the beginning of opening the insurance you must understand about the conditions of the policy clause norm or not. For example, you have sold the car while the coverage period is still valid. So you have to do is confirm to the insurance whether the policy can be closed and there is a refund of premiums? Do not keep your pay policy even though the car has been sold. Of course you lose, pay protection for cars that have become the property of others.
4. You need to have enough money in the account when the payment due date of the premium.
Car insurance premiums are generally paid annually, with premium rates ranging from 1% to 3%. If your car is worth 400 million, at least you need to leave funds in the account of approximately Rp 4-12 million. If on your account there is no fund of that amount when the payment due date of premium, while you follow the auto-renewal system, then without you knowing your policy can be burned. To reactivate, you need to spend some time rearranging and there may be additional fees.
Actually it is not wrong if you take the automatic policy renewal system. Both automatic and manual policy extensions have their respective advantages and disadvantages. Most importantly you must understand the rules and regulations of the insurance products and the additional products you take. In addition, you also need to be aware of all the risks that can occur. Be a smart customer to manage your insurance system.
Following insurance makes you safe from any financial loss risk. But if we can not manage well, maybe even the disappointment you get later. Try to know and control all the processes within the scope of insurance that you follow. Do not be afraid of insurance but be wary of insurance, It's all for your good.
So that are 4 Steps Manage Automatic Policy Renewal Auto Insurance Cars, may be useful.