Another FIRST by TPL Insurance - Giving Customers More Control Over Their Auto Insurance.

TPL Insurance, the market leader in innovations underpinned by customer-centricity in the insurance segment, is proud to announce another first in the industry. The company has completed a pilot launch of a new auto insurance product, giving customers more control over their coverage options.

Unlike traditional comprehensive and deductible insurance options, which offer limited flexibility, TPL Insurance's new product allows customers to select and pay for only the coverage options they want. This means that customers no longer have to pay for coverage they don't need and can instead focus on the specific risks they face as car owners.

A used car customer may not want to purchase comprehensive insurance as they will have to pay depreciation on parts replacement. However, with TPL Insurance's new product, customers can also choose to cover their vehicle against theft/ total loss/third party or additional zero depreciation cover in order to avoid paying depreciation for parts replacement. This gives customers greater flexibility and control over their insurance coverage.

The new product is available in conventional and takaful versions, ensuring customers have various options. The base rate for the new product starts at just 0.99%, with the ability to add on additional coverage options at an increased rate. This pricing philosophy ensures that customers only pay for the coverage they...