Motor Insurance

Car Takaful Insurance in Pakistan

Takaful insurance is an Islamic insurance system based on the fundamentals of shared risk and mutual assistance. It operates on the basis of shared responsibility. Takaful insurance ranges in various categories, and in this blog, we will be discussing the types of car Takaful insurance in Pakistan.

Before you buy your car Takaful insurance policy in Pakistan from an insurance company, it is vital to see what types of plans are present. Moreover, it is imperative to see what is covered under these plans and what is not a part of them. The everyday wear and tear of the car is not a part of the coverage plan and parts of the car are not covered for either until they are damaged at the same time as the accident.

Following are the types of car Takaful Insurance plans present in Pakistan:

3T Takaful

In 3T takaful insurance, buyers can protect themselves against any sort of unpredictable and unexpected circumstances. However, this type of Takaful insurance covers three main aspects and gives coverage to only these three aspects. It offers protection against the loss of a vehicle provides coverage against theft and lastly according to the motor vehicle act; it offers third party liability coverage.

Comprehensive car Takaful

Comprehensive car takaful insurance offers you full protection and coverage. This car insurance also gives you mental peace, and you do not have to worry as you are fully covered for. In this type, you can claim for accidents that could possibly be your fault and also when fault cannot be proven. Such a situation can be when your car gets hit by a third party, and they run away without compensating. Without having comprehensive coverage, you will be entitled to pay for your own repairs yourself.

Third-party Takaful

Under the third party Takaful, coverage is provided to any sort of damage that is caused to any third party. Any damage caused by the insurer to either a property or a person is offered coverage for in the third-party Takaful. In Pakistan, third-party liability coverage is compulsory against the Motor Vehicles Act of 1939.

Car Takaful Claims Process:

Once you find yourself in an accident, the very first thing that you do is to call up your insurance company in Pakistan. Please do not do anything; do not take any other step besides calling up your insurance company and informing them about the accident. Let them come and take care of everything else. This is the very first step you need to take and act upon in order to claim your auto insurance. The insurance company will then ask for some details which could also be unique to you and be present on your insurance certificate. After that, the insurance company will assign a surveyor to your case, and from then onwards, the surveyor will take care of your case. Your car will then be examined, and from there, the claim filing process will begin. Through this process, you will be able to obtain your coverage.