Tugu Insurance Launches New Product t-down payment
Jakarta, February 18, 2022 – Insurance is an important part of financial planning. It includes when planning to apply for a vehicle loan due to the risk of total loss or damage to the vehicle paid in installments.
Generally, when a customer applies for a vehicle loan, the credit scheme from a finance company is equipped with either comprehensive protection or Total Loss Only protection insurance protection. However, is the insurance sufficient for the customer to provide comprehensive protection against the existing risks?
When the paid-in installments vehicle is lost or completely damaged, the insurance claim process will follow the applicable procedures with the replacement value following the Sum Insured contained in the insurance policy. The replacement value will be given to the financing company first to pay off the customer's remaining debt. If there is still an outstanding, it will be charged to the customer.
When calculated, the replacement value received by the customer can be smaller than imagined, especially if the total loss or damage occurred during the initial period of the vehicle loan. And most likely, this value is not sufficient to be used as a down payment to apply for a motor vehicle loan again.
Tugu Insurance, through its newest product, t-down payment, is here to provide solutions to the risks that may be faced by customers if there is a total loss or damage to the vehicle when taking a motor vehicle loan. Through the t-down payment product, customers can get the value of compensation outside of the insurance that is integrated into the financing, which can later be used as a down payment if they want to apply for a vehicle loan again.
“We hope that the t-down payment will provide added value to customers who are paying in installments for their vehicle. Therefore, worries about loss and no funds to reapply for a motor vehicle loan can be reduced with the benefits of this product. And of course, in general, it can increase people's enthusiasm to buy vehicles according to their respective needs," explained Indra Baruna as President Director of Tugu Insurance.
This product was created after the company analyzed the potential for vehicle sales to increase by more than 50%, according to data from the Indonesian Automotive Industry Association (Gaikindo), which recorded car sales in 2021 reaches 887,200 units. This figure jumped 67% compared to that recorded in 2020 (532,407 units).
Further information regarding the t-down payment product can be obtained by contacting the contact center Call TIA 1500458, WhatsApp to 0811 97 900 100, or emailing calltia@tugu.com. In addition, information can also be obtained on the company's official website www.tugu.com.**