Zurich Syariah Autocillin Insurance

Zurich Syariah Autocillin Insurance

Zurich Syariah Autocillin Insurance is an insurance product that provides compensation/repair costs for partial or total loss and/or damage to vehicles due to falling objects, fire, malicious acts, theft, collisions, impacts or other traffic accidents.

Providing Peace of Mind When Driving a Four-Wheeled Vehicle!

Insurance Benefits

Zurich Syariah Autocillin Insurance products can be divided into two, namely:

• Total Loss Only
  
• Comprehensive

Participants can add insurance extension benefits obtained by adding contributions, benefits can be expanded with the following extensions:

1. Typhoon, Storm, Hail, Flood and Landslide (TSHFL).
   
2. Earthquake, Volcanic Eruption and Tsunami (EQVET).
   
3. Terrorism and Sabotage (TS).
   
4. Third Party Liability (TPL).
   
5. Driver's Personal Accident (PA).
   
6. Passenger's Personal Accident (PA).
   
7. Repairs at Authorized Workshops.

Insurance Rate

Comprehensive

Total Loss Only

1. The calculation of the contribution for this insurance product is obtained from the multiplication of the Contribution Interest according to the rate set in the SEOJK with the price of the insured vehicle
   
2. Tabarru' Amount: 40% of Contribution and Ujroh Amount: 60% of Contribution

Insurance Product Terms

Own Risk Provisions:

Based on SE OJK Number 6 / SEOJK.05 / 2017 Concerning Determination of Contribution Rates or Contributions to the Property Insurance and Motor Vehicle Insurance Business Lines In 2017, the amount of Own Risk is set as follows:

• A minimum of IDR 300,000.00 for each incident, except for two-wheeled vehicles, a minimum of IDR 150,000.00.
  
• The amount of Own Risk for Floods including hurricanes, earthquakes, tsunamis, riots, riots, terrorism, and sabotage is 10% of the approved claim value, at least IDR 500,000.00 per incident.
  
• Own risk for vehicles with a special profile can be determined based on the professional consideration of the underwriter.
  
• Standard provisions for the age of vehicles that can be covered:

  Coverage	Maximum Age of Vehicle at the Time of Opening of Insurance Policy
  Comprehensive	8 years >5-8 years with contribution loading, or with the application of higher own risk according to applicable provisions
  Total Loss Only	15 years

• The age of the vehicle can exceed the provisions above according to the consideration of the underwriter
  
• The insurance company's underwriting can apply rates and provisions (terms & conditions) as long as they do not deviate from applicable regulations.

Insurance Product Terms

Payment Period :
It is a condition of the Manager's responsibility for the insurance benefits based on this Policy, every Contribution owed must have been paid in full and has actually been received in full by the Manager. Because this insurance product has an Insurance period of 45 (forty five) calendar days.

Payment Method :
Payment of Contributions can be made by transfer or in other ways agreed upon between the Manager and the Participant. The Manager is deemed to have received the Contribution payment, when the relevant Contribution has entered the Manager's bank account

Exceptions :
The Company does not provide Sharia Insurance Benefits for:

• Public transportation and online taxis;
  
• Vehicles for emergency services, such as ambulances;
  
• Vehicles transporting hazardous goods such as flammable, explosive, toxic, radioactive and biohazardous materials;
  
• Vehicles located within the airport perimeter;
  
• Vehicles used in connection with the armed forces;
  
• Vehicles used at the project location/site;
  
• Sports vehicles or high-speed (sports cars);
  
• Use of keyless rental for foreign/international tourists;
  
• Use of tourist bus rentals transporting foreign/international tourist passengers;
  
• Vehicles used for learning to drive;

Illustration

Insurance Policy Opening Cost Simulation
The costs paid by the Participant include Contribution and Administration Fee with the following calculation method:
Cost = Contribution + Administration Fee
Contribution = Contribution paid directly for the entire insurance period
Example:
Car Price IDR 200,000,000.- Location: Jakarta Because Jakarta is in region 2, the Rate: 2.47%

This simulation is not binding and is not an insurance agreement and is not part of the Policy. The rights and obligations as a Participant and the provisions regarding this insurance product are stated in the Policy. A more complete explanation of this insurance product, both the Contribution that must be paid, insurance benefits and so on are stated in the Policy.

Claim Calculation Simulation
If the unit experiences a total loss within 8 months of registration, the Manager will replace it with the same unit at a price according to the market price at the time of the incident, for example IDR 180,000,000 and the Participant is charged a Risk Fee of 5% of the claim, which is IDR 9,000,000,-.
This simulation is not binding and is not an insurance agreement and is not part of the Policy. The rights and obligations as a Participant and the provisions regarding this insurance product are stated in the Policy. A more complete explanation of this insurance product, both Contributions to be paid, coverage and so on are stated in the Policy.

For further information regarding Zurich Syariah Autocillin Insurance products, click here.