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Insurance is a term used to refer to an action, system, or business where financial protection (or financial compensation) for the soul, property, health and so forth get a replacement from unpredictable events that can occur such as death, loss , damage or illness, which involves paying premiums regularly within a certain period of time instead of a policy that guarantees such protection.




The term “insured” usually refers to everything that gets protection.

Basic Insurance Principles

In the insurance world there are 6 basic principles that must be met, namely:

• Insurable interest, namely the right to insure, arising from a financial relationship, between the insured and the insured and legally recognized.

• Utmost good faith, which is an action to disclose accurately and completely, all material (material fact) facts about something that will be insured whether requested or not. The meaning is: the insurer must honestly explain clearly everything about the extent of the terms / conditions of insurance and the insured must also provide clear and correct information on the object or interest insured.

• Proximate cause, which is an active, efficient cause that causes a chain of events that results in an effect without the intervention of one who starts and actively from new and independent sources.

• Indemnity, which is a mechanism by which the insurer provides financial compensation in an effort to place the insured in the financial position he had just before the loss occurred (KUHD article 252, 253 and affirmed in article 278).

• Subrogation, namely the transfer of claim rights from the insured to the insurer after the claim is paid.

• Contribution, which is the right of the guarantor to invite other guarantor who both bear, but do not have the same obligation to the insured to participate in providing indemnity.

Type of Insurance

1. Life Insurance

This type of insurance is known to provide financial benefits to the insured for his death. The payment system for this type of life insurance varies. There are insurance companies that provide payment after death and others can allow the insured to claim funds before his death.

Life insurance can be purchased for self-interest and on behalf of the insured alone or purchased for the benefit of a third person. Even life insurance is also known to be bought in other people’s lives. As an illustration, suppose a husband can buy life insurance that will provide benefits to him after the wife’s death. Parents can also insure themselves against the child’s death.

2. Health Insurance

This type of insurance is also quite well known by the people of Indonesia. Health insurance is an insurance product that handles the health problems of the insured because of an illness and covers the cost of the treatment process. Generally, the cause of the insured’s illness which can be borne by the insurance company is injury, disability, illness, until death due to accident.

Health insurance is also known to be bought for the benefit of the insured or the interests of a third person. Private health insurance companies such as Prudential, Allianz, AIA, Cigna, and Manulife are among the big names that provide a variety of insurance products to suit the needs of the Indonesian people and are widespread throughout the world.

3. Vehicle Insurance

The most popular vehicle insurance in Indonesia is a type of car insurance that focuses on injury coverage to other people or against damage to other people’s vehicles caused by the insured. This insurance can also pay for the loss or damage to the insured motor vehicle.

Vehicle insurance is one of the general insurance products. This type of insurance had become a boom when the riots broke out in May 1998 because the incident made people’s interest in protection ownership for private vehicles increase dramatically.

The financial site Cermati.com has partnered with well-known insurance companies in Indonesia so you as a customer can compare the best car insurance products with low rates.



4. Education insurance

Dizziness with children’s education costs? This type of insurance will help you overcome. Education insurance is the best alternative and a solution to ensure a better life, especially in children’s education assets. The cost of the premium that must be paid by the insured to the insurance company varies according to the level of education to be obtained later. Understanding the importance of using education insurance for children is now a matter of concern for parents. The high cost of education and other conditions that exacerbate the economy such as the weakening of our currency against the US dollar affect the cost of education for children later. Realizing that this clearly will burden parents, it is not uncommon for parents now to choose to have education insurance. So, education insurance can be classified as the types of priority insurance too, right? You will certainly be helped in taking care of the child’s future.

5. Travel insurance

Maybe for those of you who often travel or travel are familiar with this type of insurance. The various types of insurance also create a variety of protection for travelers. Overall, the function of travel insurance is not much different from the ordinary insurance function as a form of protection for customers with a short period of time that is for the premium buyer to travel until returning home. Benefits and protection that will be gained from having travel insurance include obtaining protection and coverage for accidents that affect premium buyers, personal accident benefits, dependents for emergency medical expenses, repatriation of bodies, medical evacuation, to protection of luggage that has a risk of being lost. or damaged.

6. Business insurance

For those of you who have a business field, this type of insurance is important to consider. In addition to the types of insurance that involve individual protection, insurance that protects businesses is also needed. Business insurance is a protection service against damage, loss and loss in a large amount that may occur in one’s business. This insurance provides compensation for damage caused by fire, explosion, earthquake, lightning, flood, hurricane, rain, collision, until riots. Insurance companies usually offer a variety of benefits from business insurance such as protection of employees as business assets, investment and business protection, comprehensive life insurance for all employees, to health insurance protection packages for employees.

Advantages of Insurance Companies

Insurance companies also benefit from investment. This is obtained from the investment premium received until they have to pay the claim. This money is called “float”
Insurers can get profit or loss from float price changes and also interest rates or dividends in float. In the United States, property losses and deaths recorded by insurance companies were US $ 142.3 billion in the five years ended 2003. But total profits in the same period were US $ 68.4 billion, as a result of the float.

Insurance Refusal

Some people consider insurance to be a form of betting that applies during the policy period. The insurance company bet that the buyer’s property will not be lost when the buyer pays the money. The difference in fees paid to insurance companies against the amount they can receive if an accident occurs is almost the same as if someone bet on horse racing (for example, 10 to 1). For this reason, some religious groups including the Amish avoid insurance and depend on the support received by their community when disaster occurs. In communities where close and supportive relationships where people can help each other to rebuild lost property, this plan can work. Most people cannot effectively support the system as above and this system will not work for big risks.






Car insurance in the UK can be one of the most expensive things about driving, especially as a younger or new driver that has little experience behind the wheel …

Post Author: admin

33 Replies to “How to get cheaper car insurance in the UK – New and Younger Driver Tips | My Insurances Info”

  1. I see all these people in the comments paying 800 – 2000 for their insurance… I've been quoted 6500€ for a 1.4 2000 Golf as a 17 yr old full license holder here in Ireland, 5600€ with parent added. Such a rip off smh

  2. Another Tip, Just Avoid What I Refer To As The "B Word" (BMW) Insurers generally associate ALL BMW's (Not Just MSport MPerformance etc…) as Racing and so ramp the price up ridiculously, so I wouldn't recommend any BMW's as Learner driver cars

  3. I pay about £950 for a Toyota Yaris hybrid 2014 (1.5c) with black box insurance and my dad as a named driver. I am 25 though, it's kind of on the borderline away from the young driver bracket. I used compare the market and got Admiral.

  4. Usually, a auto insurance provider is only likely to insure a car in the name of the individual who is listed on the car's title. You must have car insurance why don't you have the ideal vehicle insurance. Temporary auto insurance enables you to avail of the policy just once you use your motor vehicle. For more good information try visit https://personalfinanceallinfo.com/

  5. I have a 2004 Seat Ibiza 1.2 and it's my second car and started driving it last year. I'm 20 years old and had my full license for 2 years and 2 years no claim. Last year, the insurance cost me £1133 and now this year it's going to cost me £1107. Not much cheaper than last year, I am not happy 😠

  6. i looked at a quote foe a 1.2 corsa and it came up at 1800 quid then looked at a 2.0 tdi audi a3 and it only came up at 2000 pound its a bit more expensive but a lot nicer of a car if you can afford the extra 200 quid

  7. I pay £103 a month for my 2004 cleo. I think it’s only that price because my dads no claims. Luckily I’ve been able to avoid a box and seems likely I won’t ever get one. Fuck you right over

  8. I'm 24, with 3 years driving licence and have been riding large motorcycles for 3 years…

    Car insurance for a 1.6 hatchback (100hp or so) still costs over a grand. No penalties/points. Personally, it's a rip off. Then again, I found a passion for 2 wheels because getting a car was (and still is) financially out of reach.

  9. I was with a company called “insurethebox”, imo stupid company that don’t charge you anything whatsoever for speeding, braking etc

    I took out a 10k miles policy at 17 yo on a new 1.4 corsa sxi and it was 1500-1600 quid… and yet in 3 years i got one email essentially saying “please stop speeding” despite speeding sometimes (lets just say)

  10. When searching through comparison sites I've had my phone ringing only moments after entering it on the website. The sales staff were asking "Why I didn't choose their company?". Intrusive & very annoying at the same time.

  11. Ford Fiesta Mk6 08 plate, paid £900 if I remember at 23.
    Cheap enough imo, car was £1500.
    I consider that a win considering a lot of people seem to pay £2000 for their first ever year of insurance!

  12. I looked at the same quote on compare the market a few days apart it was £2300 2 days ago and just now at 11pm I cleared my history, cookies and went on incognito mode and the quote now is £1360/yr

  13. Can someone help me? I am 16 atm going in the army next month will this help my make my insurance cheaper as I will be working for the queen? Also the car I am buying is a Ford Fiesta st200 it is a 1.6l,what would the insurance be?

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