Cost of car Insurance in Pakistan?
Car insurance in Pakistan is a mandatory requirement for all vehicle owners. The cost of car insurance in Pakistan varies depending on various factors such as the type of vehicle, its make and model, the driver’s age, driving experience, and driving record, among others.
The minimum coverage required by law in Pakistan is third-party liability insurance, which covers damages or injuries to other drivers and their vehicles. This type of insurance is typically the cheapest, with premiums starting at around PKR 5,000 per year. However, this type of coverage is limited and does not provide protection for your own vehicle in the event of an accident.
For comprehensive coverage, which provides protection for both your vehicle and other drivers and their vehicles, premiums can range from PKR 20,000 to PKR 100,000 per year, depending on the make and model of the vehicle, and the driver’s age, driving experience, and driving record. Comprehensive coverage usually includes coverage for damages or losses due to theft, fire, or natural disasters, in addition to coverage for third-party liabilities.
It is also possible to add optional coverage such as personal accident insurance, which provides coverage for medical expenses in the event of an accident, and roadside assistance, which provides assistance in case of a breakdown or accident. These options can increase the premium, but can provide valuable protection in case of an accident or breakdown.
In order to get the best car insurance quote, it is important to compare quotes from different insurance companies, taking into account the coverage, deductibles, and premium prices. It is also important to consider the reputation and financial stability of the insurance company, as well as the claims process and customer service.
In conclusion, the cost of car insurance in Pakistan varies depending on various factors, but can range from PKR 5,000 to PKR 100,000 per year for comprehensive coverage. It is important to compare quotes from different insurance companies and choose a policy that provides the right coverage at an affordable price.