The minimum insurance cost for a car in Indonesia varies depending on the type of insurance, vehicle price, and location. Here are the general rates set by the Otoritas Jasa Keuangan (OJK) or Financial Services Authority:
All Risk Insurance
- For vehicles priced below Rp125 million:
- Sumatera and surrounding areas: 3.82% – 4.20% of the vehicle’s price
- Jakarta, West Java, and Banten: 3.26% – 3.59%
- Other areas: 2.53% – 2.78%
For vehicles priced between Rp200-400 million (like a Toyota Grand Avanza or Honda Brio):
Jakarta: 2.08% – 2.29% (approximately Rp4.16 million – Rp4.58 million per year for a Rp200 million vehicle)
Total Loss Only (TLO) Insurance
- For vehicles priced below Rp125 million:
- Sumatera and surrounding areas: 0.47% – 0.56% of the vehicle’s price
- Jakarta, West Java, and Banten: 0.65% – 0.78%
- Other areas: 0.51% – 0.56%
- For vehicles priced between Rp200-400 million:
- Jakarta: 0.44% – 0.53% (approximately Rp880,000 – Rp1.06 million per year for a Rp200 million vehicle)
Additional Costs to Consider
Deductible or Own Risk: Minimum Rp300,000 per incident
Additional Coverage:
- Flood and storm: 0.075% – 0.125% of the vehicle’s price
- Earthquake and tsunami: 0.075% – 0.135%
- Riot and terrorism: 0.05%
- Third-party liability: varies depending on coverage amount
Keep in mind that these rates are estimates, and actual costs may vary depending on the insurance company and specific policy details.
What is The Minimum Insurance Cost for a Car in America?
The minimum insurance cost for a car in America varies by state, but on average, a liability-only policy costs around $44 per month with top providers like Geico and State Farm. Here’s a breakdown of the minimum coverage requirements by state:
Minimum Liability Coverage:
Bodily Injury Liability: Typically $25,000 per person and $50,000 per accident
Property Damage Liability: Typically $25,000 per accident
Additional Requirements:
Some states require Personal Injury Protection (PIP) or Uninsured Motorist (UM) coverage
Here are some state-specific minimums:
California: $30,000 bodily injury liability per person, $60,000 per accident, and $15,000 property damage liability
New York: $25,000 bodily injury liability per person, $50,000 per accident, and $10,000 property damage liability
Florida: $10,000 personal injury protection and $10,000 property damage liability
Keep in mind that these are just minimum requirements, and you may want to consider additional coverage for better protection. To get an accurate quote, it’s best to compare rates from top insurance companies in your area.