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Understanding Car Insurance Rates and Value-Added Services for Auto Finance

When opting for auto finance, choosing the right insurance plan is essential. Various companies offer different rates and value-added services to enhance their packages. Here’s a brief comparison of some top car insurance providers in Pakistan:

• AlFalah Insurance Company Limited: Offers a standard rate of 1.40%, and with value-added services, the rate goes up to 1.99%. Insurance rates vary depending on whether a tracking device is installed, ranging from 2.00% to 2.50%. Additional services include accidental death cover of up to PKR 2.5 million or the sum insured of the vehicle, whichever is less.
  
  
  
• Adamjee Insurance: With a standard rate of 1.50% and a value-added service rate of 1.99%, the insurance rates with or without tracking devices are between 2.90% and 3.50%. The value-added services include accidental death cover, health insurance plans, online medical consultancy, and travel insurance for vehicles insured above PKR 2 million.
  
  
  
• EFU General Insurance Ltd.: EFU offers a standard and value-added service rate of 1.40% and 1.99% respectively. Their value-added services include an accidental death cover of PKR 2.5 million.
  
  
  
• UBL Insurers: Standard rates start at 1.40%, and the value-added service rate is 1.89%. Insurance rates vary between 2.90% and 3.50%, with accidental death cover included.
  
  
  
• Jubilee General Insurance: This company offers a higher standard rate of 2.25%, which increases to 2.50% with value-added services. Their value-added offerings include payment of the full outstanding auto finance in case of death and free medical cover of up to PKR 1 million.
  
  
  

It’s important to note that value-added services only apply to specific rates and are subject to terms and conditions. Additionally, monthly installments may vary, and other charges such as taxes, vehicle registration, and processing fees will apply.

These insurance rates and services aim to offer flexibility and security, catering to various customer needs, ensuring peace of mind when financing a car.