Is Loss Insurance Important Also?

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Is Loss Insurance Important Also?

By: M Fajar Marta
In 2250 BC in the Euphrates and Tigris River area (present day Iraq). At that time, traders or owners can take the merchandise to be sold to other places without paying the price of the goods in advance. However, they are required to pay for it later, with interest and coupled with the amount of money in exchange for the risks that have been borne by the providers of goods. However, if it turns out these items robbed on the way, traders will be exempted from this obligation.Is Loss Insurance Important Also?

The concept of risk management has been practiced for more than four millennia ago that is now known to modern man as insurance which is generally defined as an effort to gain protection against financial loss arising from unexpected events.
Is Loss Insurance Important Also?
Not only transport insurance which has been known for a long time, which is also a fire insurance insurance has also been practiced since time immemorial. In the UK at the beginning of the 10th century, for example, groups of artisans and merchants have been working together for the sharing of losses if one member of the association house on fire. The association collects funds from its members in the form of dues every month. Of the funds collected that is given a sum of money to members of the association whose house burned.Is Loss Insurance Important Also?

Practice English people in ensuring the risk of fire on the house members are very similar to fire insurance known today. In concept today, people who want to insure their homes from fire risk (the insured) pays a premium to an insurance company acting as guarantor. Well, the insurer (insurance company) that would indemnify the insured to the value of the agreed time of signing the policy.
Is Loss Insurance Important Also?
Thus, the concept of insurance was the same old human civilization itself. This means that insurance activities may be regarded as one of the most important things in human life. The concept of insurance is basically no different from life insurance, which safeguards by shifting the burden of risk to the insurer.Is Loss Insurance Important Also?

Life insurance and loss distinguished only on the object to be protected. In life insurance, the thing that you want protected is the family finances if the head of the family as a breadwinner dies. The insurance is intended to replace financial losses due to damage and loss of goods as well as the loss or not obtaining the expected benefits. Therefore, the insurance, the maximum insured amount equal to the losses suffered by the insured.Is Loss Insurance Important Also?

Types of insurance vary, such as transport insurance, property insurance, motor vehicle insurance, credit insurance, and liability insurance. Throughout the risk is not associated with the human soul, classified as insurance.

Practitioners insurance, Munawar Kasan, say, the insurance is also an attempt to move the risk to others. If the risk occurs, the other party will bear. With covered by insurance, life will be quiet because it does not need to be wary of the risk occurs. For example, a large company do not have to go bankrupt and lay off employees if the factory burned. With insurance, the loss can be replaced. Imagine if without insurance, employers can go bankrupt and hundreds, even thousands of employees, can get laid. In insurance, there is also a social mission. The position of insurance can be very instrumental in the development.Is Loss Insurance Important Also?

According Munawar, every individual or family insurance should put a priority. "As long as we need to control the risk to ourselves, our possessions, and our responsibility, it will be the right time insured," he said.
Is Loss Insurance Important Also?
 At least to the most frequently threatening risk and impact is substantial, such as home and contents fire insurance, vehicle insurance and personal accident insurance / health. If uninsured, Munawar said, is concerned will hold (retain) their own risk. That is, he must be ready if it would really be affected, for example, his house burned. If this happens, the question will be a massive loss. If the price of the home building and contents about S30,000 automatic loss will reach that number. Savings for future children to school can be sold to build a house back.

These events will not occur if the relevant purchase fire insurance policy which is only about S50 per year. Set aside money for it every year certainly will not disrupt the family budget, especially for cost savings eroded the school children in the future.
Is Loss Insurance Important Also?
According Munawar, all types of policies mentioned risks guaranteed. There are all risks, which guarantees all risks except those mentioned in the policy exceptions. There is also a detailed mention any risk guaranteed.
Is Loss Insurance Important Also?
Total losses were replaced as insured on the policy. Each claim is generally no deductible (own risk), the specific value that reduces the payment of claims. That the insured's deductible applied carefully because it will bear the loss if there is a claim even though its value is small. Insurance premium rates are relatively small compared with the risks faced. At least someone has insurance for the basic guarantee, such as Standard Fire Insurance Policy Indonesia (PSAKI) that the premium is only 0.56 per mile per year. The guarantee is covered by fire, explosion, lightning, fall of aircraft or goods from aircraft, and damage due to fire smoke house home insured. (FAJ / JOE)


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