Insuring a vehicle is a way to minimize losses if there are problems at any time. But keep in mind, insurance companies limit the age of vehicles that may be included in the insurance program.
Insurance companies such as Astra (Garda Oto) and Adira (Autocilin) are known to limit vehicle age to a maximum of 8 years for the all risk program, and a maximum of 15 years for the total loss only (TLO) program. The similarity of the rules of the game is due to the fact that both of them refer to the Indonesian Motor Vehicle Insurance Standard Policy (PSAKBI).
Read also: Recognize the difference between All Risk Vehicle Insurance and TLO The Head of Communication and Event of Asuransi Astra Iwan Pranoto stated that the purpose of age restriction is because the older the vehicle, the less spare parts will be. Whereas guaranteeing the availability of spare parts is important for insurance companies to repair customers’ cars.
“If it is difficult to find spare parts, the car will not be repaired immediately. We cannot provide certainty to customers,” said Iwan in Jakarta, Wednesday (12/9/2018).
The age limit of 8 years for all risk and 15 years for TLO is measured from the current year. So it is not seen whether the status of the vehicle is new or used.
For example, currently cars produced in 2012 are still allowed to participate in the all risk program. However, this will not be the case in 2021 when the age of use has exceeded 8 years. The same calculation also applies to the TLO program.