Financing vs. Full Payment while Having the Funds: Insurance Coverage Concerns

[pwuser162884263646]

Hi all,

I’m trying to decide while having funds for full payment whether to finance a new car or pay in full upfront. My main concern is about insurance claims processing as a individual.

Financing: The bank offers insurance that covers losses (accidents, theft, etc.), and they handle the claims process. However, I’d be paying interest on the loan.
Paying All Out: I’d save on interest, but I’d have to deal with insurance claims myself if anything happens, which I worry might be more difficult for me as an individual.
My question:
Is financing with insurance the better option to avoid the hassle of dealing with insurance claims directly? Or is paying all out without financing the better choice?

With financing is there any other benefit of paying that extra interest such as priority delivery etc. Would appreciate any thoughts or experiences!

[crema]

The financing institution just get the asset insured. The claim processing haggle is still on the shoulder of the user.

One can develop a better relationship with a good insurance company to swiftly get the claims entertained.

[pwuser162884263646]

Thank you for your input, how would you practically go about developing that relationship or choosing a good insurance company that wont haggle too much once claimed

[abbasqamar3166]

Bro wteva u choose ur choice ..let me tell u financing is haram totally.. insurance is also fall same category

Rest ur choice ...

U can ask which (haram) bank financing is good or suggestions req lik this but well

[pwuser164163568474]

A reference would probably work best; maybe a company that has been working with a specific insurance company can introduce you to their agent who would be at a manager level or something around these lines. They will personally see to them that the claims are being resolved timely

[abid110]

you can be fully confident with insurance claims if you choose a good company like Adamjee. i can help you out fully in this answering all your queries. you can connect at 03312996638 incase you need to know further on this.