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05 Oct 2019

The Difference Between Total Lost Only Insurance (TLO) and All Risk Insurance

TLO Insurance and All Risk, Which Do You Need? Here Are the differences! - Asura


Vehicles are moving assets that are most at risk compared to other assets. Therefore, it is very important to include existing car insurance programs.

The number of vehicle ownership is increasing every year, may it be a motorcycle or a car. As a motorcycle or car owner, you need to have a vehicle insurance because you never know what will happen when on the streets. Either the vehicle will be stolen or there might be an accident. The role of a car or other vehicle insurance is to guarantee the insurance of your car or motorcycle.

Types Of Vehicle Insurance

There are two types of vehicle insurance. Most insurance companies offer Total Lost Only (TLO) and All Risk insurance. Maybe you might be wondering which insurance is good for your vehicle. The insurance should be chosen according to your needs, for example car insurance can use all risk insurance while the motorbike used for daily needs can use Total Lost Only(TLO).

Total Lost Only Insurance (TLO)

Total Lost Only has a lower premium cost than All Risk Insurance. If you have a limited budget you can choose one insurance. Compensation is always provided by TLO insurance products if your vehicle has more than 75% damage or if there is a vehicle theft or accident. But if there is a little damage, you cannot claim the insurance. Every company has its own terms and conditions so make sure you understand the vehicle insurance policy that you have. The premiums range from 0.80% to 2.11% of the vehicle price range.

All Risk Insurance

All Risk insurance protects both small abrasions on the body of the car, damage due to collisions and loss. Some events that can be claimed are theft of car tools, embezzlement, accidents caused by small animals, motorbikes used for racing, accidents that violate traffic rules or production defects. The premium amount ranges from 2.11% to 2.32% of the estimated price of the vehicle.

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