Car Insurance in Pakistan should not be called insurance. These companies are here for only buisness. Yeah companies in western countries are also there for buisness but they have flexible terms and conditions. But here almost all conditions are made in a way that they benifit the company most.
Moreover, it is not possible for a person earning 30k to 40k a month to pay income tax from salary, then taxes on everything u buy, then electricity bill tax, sui gas tax bill tax, telephone bill tax, affording utility bills, bearing fuel expenses etc, bearing all home expenses and then save money for car insurance also.
Take example of my car, it was worth around 7 lac back then, if i would have got it insured then at most i would have got 2,3 lacs in return at most. Yeah something is better than nothing, but ager pata ho k gari chori ho jaye gi to her band insurance kerwa le. Lakin in reality, band yahi sochta rehta ha k her month 3000Rs-4000Rs insurance k chaley jatey hain. Why not save them and take care of the car themselves.
I think around 80% of us dont get insurance because the policies are not in favor of the policy holder the way they should be.[/QUOTE]
Thank you for clearing things up. I was planning to get my Civic insured and I somehow thought that since it is a "Comprehensive" insurance, I will get 100% of the money I insured it for (8 lakh since that's how much I bought it for). I think I was quoted somewhere around 30k per year (2.5k per month)
I have good experience with insurance companies up till now but that's only been the remittance of loss during an accident on the other two cars which are insured.
I'll clarify with them how much will I be given incase of theft (God forbid) before I opt for getting my 2000 Civic insured. Thank you for bringing it up.