Yula.la News

Imagine you are traveling, you encounter bad weather filled with heavy rains and strong winds which is causing muddy roads and flooded spots along the way. Although you are being incredibly cautious, another driver is recklessly speeding along as if the sky was blue and the sun was out. As you turn the corner this careless driver’s car hydroplanes and hits your front-end, damaging the hood of your car. Come to find out, the other person is driving without insurance, now you have to figure out who and how you will pay for the damages to your car – then how to get to your next destination.

Accidents happen every single day, no matter how careful we are. One day we can be living peacefully, and the next we might get into an accident and need to go to the hospital plus cover any other losses or damages. Because life is full of uncertainties having a back-up plan such as insurance eases our stresses and lets us know we will be taken care of in-case something inconvenient happens.

 So how does it work?

When looking for an insurance policy plan that meets your needs, it is important to note there are three main types of policies which are:

 1. Premium - is a set amount that someone needs to pay periodically, usually every month to cover their risk.

 2. Policy Limit - is a face value or the max price that an insurance company is willing to pay for a covered loss. In most cases, the higher the max price, the higher the monthly premium will be.

 3. Deductible - is a set amount the insurance policyholder has to pay the insurer before a claim.

 But how do you know which one will be best for you? There are loads of insurance companies and policies out there – making it a bit difficult to choose what works for you. That’s why there are insurance brokers who specialize in the insurance fields and can advise you during your search process.

 An insurance broker will safely review all possible circumstances and requirements for an individual and help them chose a plan that meets their policy needs. For instance, in the example above the uninsured driver could have consulted an insurance broker about how often they deliver products to different cities with their automobile. The broker would have advised them on an automobile insurance policy that is perfectly fit for their needs.

 In simple terms, an insurance broker is a middle man- the bridge between an insurer (the person using the insurance) and insurance companies. They are not limited or bias to one insurance company. A brokers’ job is the search the market and find an insurance policy that will meet your needs based on your requirements and life circumstances.

 If you are overwhelmed or inexperienced with the conditions of insurance policies, the best thing to do is to find an insurance broker who can walk you through the process and help you select a plan that protects you in case of an accident or loss.

 Lastly, it’s important to note that because an insurance broker is a third party, it means there is usually an extra fee that needs to go to them for their services. So finding the right insurance broker, who not only helps you select an insurance policy but also can offer their services at an affordable, fair, and confidential manner is key.

 Luckily in Laos, there is KX Broker who is the leading insurance broker company in the country with free of charge. With a range of quality broker consultants who are connected to the top insurance policy companies including auto, home, health, and global you are guaranteed to find the perfect insurance plan to match your needs in case of an accident. If you are looking to purchase a car we have over a thousand listings of new and used vehicles here and make sure to stay protected with insurance.

 Protect yourself from an unforeseen risk and schedule a consultation today with KX Broker by contacting us here.