Top 4 Things You Should Know About Liberty Car Insurance

Top 4 Things You Should Know About Liberty 1 Thanh Phong Auto Insurance HCM

Liberty auto insurance Is one of the insurance is very appreciated. By ensuring the rights of the car owner as well as helping them enjoy a professional service when coming to this insurance company. However, you already know nothing about liberty auto insurance? Let us share what you should know about this car insurance in the article below!

Things you should know about auto insurance liberty
Things you should know about auto insurance liberty  

Top 4 Things You Should Know About Liberty Car Insurance

1. The liberty auto insurance concept

This is a type of insurance from Liberty Insurance Company. This type of insurance is a perfect combination of various types of insurance for property, people and car-related goods.

When you buy this insurance, Liberty Insurance will pay compensation to third parties when they accidentally cause damage to them. Thereby helping you reduce financial burden and firmly move on every journey more.

2. How to calculate auto insurance liberty

Auto insurance premium is always one of the criteria that car owners are interested in when buying insurance. However, you should understand that this fee depends on different factors. Most insurance companies will rely on different factors to make the most suitable fee.

Here's how to charge liberty auto insurance:

Total premium (car material insurance) = insurance amount * rate of premium

In which:

  • The sum insured is the amount used as a criterion for determining insurance benefits.
  • Fee rate = standard fee rate * expansion fee rate - preferential fee rate.
Liberty auto insurance helps you reduce financial burden when an incident occurs
Liberty auto insurance helps you reduce financial burden when an incident occurs

Standard charge rates will range from 1,4% to 1,7%

The expansion fee ratio will be equal to new replacement insurance + genuine repair insurance + hydrophobic insurance. In which, new replacement insurance ranges from 0,15% to 0,3%, genuine repair insurance ranges from 0,3% to 0,5% and hydraulic insurance of 0,1%.

Preferential rates range from 0,1% to 0,2%.

Other factors that affect common rates are the address of the house, the type of car you drive, the level of insurance purchased, age, gender, etc.

3. The most economical way to buy auto insurance liberty

3.1. Choose a high deductible when buying auto insurance

You should choose the package liberty auto insurance have a high deductible. Because when your car loss is greater than the deductible, Liberty Insurance will compensate you. Therefore, when you choose a package with a high deduction, it will help you save money.

Specifically, when you choose to increase the exemption to 300.000 VND, you can save up to 30% of the total premium to pay. However, you should drive carefully because your car will not be compensated for the scratches caused by light touches.

To save money, you should choose a liberty auto insurance package with a high deductible
To save money, you should choose a liberty auto insurance package with a high deductible

3.2. Buy liberty auto insurance in groups

To save on purchase costs liberty auto insurance, you should buy it in groups of friends, colleagues or relatives. Because you will be given a Liberty car insurance company incentives. At the same time, when buying insurance here, you still have the full benefits specified in the car insurance contract.

4. The liberty auto insurance compensation procedure

A Liberty insurance policy includes:

  • Certificate liberty auto insurance
  • Terms of amendments and supplements in the car insurance contract
  • Car insurance contract
  • Rules of car insurance.

When you request compensation with Liberty, the company will ask the company to prepare the following documents:

  • ID card and driver's license
  • ID card of the contract owner
  • Vehicle registration certificate and registration certificate
  • Dossiers of traffic accidents issued by the police must include photos of the actual accident scene.
  • Documents proving damage and necessary documents for compensation to the 3rd party.
  • In case of repairing a car outside Liberty system, you must provide documents proving damage as required.
You should prepare the necessary documents to make the auto insurance compensation procedure faster
You should prepare the necessary documents to make the auto insurance compensation procedure faster

After that, the company will receive your request and will send a representative to evaluate the accident. From that, determine the cause, the extent of damage of the vehicle and then consider whether it is in the case of compensation for damage or not. After that, the staff will choose the best remedy, complete the file to resolve the compensation quickly.

The above has shared the top 4 things you need to know about car insurance liberty. Thereby, hopefully you have added a lot of good knowledge about this car insurance and always be assured throughout your journey.

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