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20 Jan 2020

Reasons Why Motorcycle Loans Must be Insured

This is the Reason Why Motorcycle Loans Must be Insured - Asura

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Buying a motorized vehicle at this time can be a cash or credit system. If credit process is one of the safeguards that must exist on vehicle risk protection and also the risk protection of the soul of the vehicle owner who still has the obligation to pay credit, then, there are two insurance products that must be met, vehicle insurance and life insurance.

If you buy a vehicle loan, either a motorbike or a car, you must fulfill various requirements, one of which is the additional costs. One additional fee is vehicle insurance. When you do a motorbike or car loan, the status of your vehicle is still a loan status from the lender, aka leasing or bank. So, to protect vehicles that are loaned, one of the things you need to do is to take part in a car or motorcycle insurance program to protect the vehicle in the event of a risk. Whether it is a risk of being lost/stolen or damaged due to an accident, the insurance company will bear the risk so that the leasing party or the bank will not lose.

Then, what if the affected person is the motorbike or car driver? Who bears the insurance?

Certainly not leasing. Therefore, it is important for you to have motorbike life insurance. This is to provide protection to the motorbike or car rider if the insured has a severe accident or even dies. Life insurance products are important for those of you who take motorcycle loans. If your motorcycle loan installments are not equipped with life insurance, you need to register yourself.

This insurance benefits can protect the heirs who are left out of the obligation to repay the motorcycle installments that have not been paid by the master who died. If motorbike loans are without life protection, the families left behind have the burden to continue paying off the loan installments that are left unpaid. You don't need to be confused about how to choose the right life insurance. There are several life insurance products that you can use because there are life insurance packages that are already bundled with motorcycle loans. You can get insurance for Total Lost Only and Life Insurance for credit applicants so that they are included in the selling price of the motorbike.

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