In accordance with its meaning, Total Loss Only (TLO) is an insurance that “only (if) loses total”. This type of car insurance deals with the protection and insurance claims process that can only be filed in case of total loss only, the total loss in this TLO insurance is the result of theft or damage. Where the repair cost is equal to or more than 75% of the price of the car. This TLO insurance is very appropriate to choose if your car is 10 – 15 years old, because at that age, car body condition is not as smooth as before and certainly will not be used again. If an old car (6 – 10 years old) uses all risk car insurance, it will incur a 5% loading rate per year.
TLO insurance has its own advantages that the cost of insurance premiums are cheaper, compared with all risk insurance that does have a higher insurance premium costs. and If viewed from the side of its protection all risk insurance provides a more comprehensive protection compared with TLO insurance. You can compare several insurance companies by visiting https://www.comparenodepositcarinsurance.co.uk/.