Car Insurance (Takaful)
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Coverage Details
Enter car value and expected rates
Annual Premium
Total Estimated Cost
Rs.116,500
Gross Premium (2.5%)Rs. 87,500
Taxes (16%)+ Rs. 14,000
Tracker Fee+ Rs. 15,000
Rates typically vary between 1.5% and 3% based on the insurance company (e.g., Jubilee, EFU, Adamjee, Pak-Qatar) and the model/make of the vehicle.
Understanding Auto Insurance in Pakistan
Comprehensive auto insurance (or Islamic Takaful) protects your vehicle against theft, accidental damage, and third-party liabilities.
How is the Premium Calculated?
Insurance companies calculate the Gross Premium by applying a percentage rate to the current market value of your car.
- New / Standard Cars: Often get lower rates (around 1.5% to 2%).
- Older / Imported Cars: Might attract slightly higher rates due to the scarcity of spare parts.
What is Takaful?
Takaful is the Islamic alternative to conventional insurance. Instead of paying premiums to a company that assumes the risk, participants contribute to a common pool (Waqf fund) to guarantee each other against loss or damage. Most major insurers in Pakistan now offer Takaful windows.
Frequently Asked Questions
Comprehensive car insurance (or Islamic Takaful) rates typically range between 1.5% to 3% of the car's market value, depending on the car model, year of manufacture, and the insurance company.
Most insurance companies require a tracker for cars valued over a certain threshold (usually 2-3 million PKR) to mitigate theft risk. The tracker installation and annual monitoring fee is usually charged separately.
Federal Insurance Fee (FIF) and Provincial Sales Tax (GST/PRA/SRB) are applied to the gross premium. This typically amounts to around 16% in total.