How Car Insurance Works in Pakistan?

car-insurance-in-pakistan

#1

I have experienced insuring my family car abroad in middle east, how does car insurance work in Pakistan?


#2

Dear Alia_butt,

Thank you for your question. As you would already be aware that Car insurance is there to protect your loss and it comes with a specific cost called premium. In fact, by paying for your car insurance premium, you are removing the risk from yourself and passing that over to your insurance providers. A number of leading insurance providers working in Pakistan include Askari General Insurance, Jubilee General Insurance, EFU Insurance, Adamjee Insurance, IGI Insurance or CSI. If any damage occurs to your vehicle as a result of your actions or the actions of someone else, then your insurance will provide you with the financial support you need. Your car insurance coverage will also support you with part of the medical expenses, the cost of repairs to your vehicle and any damage that may have been caused to property. The support is relative to the premiums you pay each month.

In Pakistan, insurance companies charge pre-specified fixed rates for the insurance premiums such as 3.10 % of the price of a vehicle of a certain make and model. After you request the policy, a surveyor makes an inspection visit and upon his analysis, car insurance policy is issued to a customer. In case of any damage to your car, you get in touch directly with the Insurance providers in Pakistan and submit your claim which has usual process as other countries.

In a nutshell, car insurance is simple. You purchase the cover for your vehicle and for this, you have to pay a fixed premium to your provider. In return for this, your insurance provider will provide you with the cover subject to a satisfactory evaluation by a surveyor and peace of mind you need when the time comes to make a claim. There is a load of information available at https://www.mawazna.com/compare-insurance/car-insurance under the Car Insurance section so it is always worth starting there and comparing before you buy one.

Hope this helps.

Regards,
Team Mawazna