A motor insurance policy provides financial protection to you in the event your vehicle is stolen or involved in a road accident.
It is important to know your limits of protection you are cover under your policy.
Types of cover and policy's in Malaysia
1. Comprehensive Policy - Make a claim on your own insurer against Accident or Theft
2. Third Party,Fire and Theft Policy - Make a Fire or Theft claim on your own insurer
3. Third Party policy- Only other can make a claim from your insurer.
A vehicle owner may purchase additional cover as:
1.Windscreen - breakage not resulting from road accident
2.Legal Liability to passenger- Your passengers or people from outside your vehicle suing you for injury cause to them by you or your passengers.
3.Compensation for Assessed Repair time- inability to use your vehicle while it is being repaired.
4.Flood-Vehicle damages due to flood.
5.Personal Accident- Injury to you or your passenger.
Accident Assist
Most Insurer provide a free service to help customer it's 24 hours 7 days a week for immediate roadside assistance due to break down or free towing services.
Please do get the phone number for the free service from your agent when you renewal your policy.
Getting a motor insurance
Comprehensive Policy
This policy covers you for any damage caused to your car or a third party or their property if you are involved in an incident. You can make a claim on your own insurer due to Accident, Theft, or Fire. Most insurance companies cover agree value of the car up to 10 -12 years. What it means the company will pay the sum you have insured and agree by the company.( Make sure you follow the company agree sum assured which is normally higher than the market value.) The reason the agree value is higher than the market value is due to the value of spare parts of the car and not the car price. It's the best policy to get even if your car is old as you will enjoy free break down service and normally without any loading.
Third Party, Fire and Theft Policy
This policy covers you for any damage caused to a third party or their property if you are involved in an incident but do not cover your car due to accident .while also covering your own car if it’s damaged by fire or stolen.
Third Party policy-
Only other can make a claim from your insurer due to an accident. Most insurance company put a loading of 100 -150% on this policy. Most people like to get this policy as the premium is cheap without knowing it's better to pay a litter extra to get a comprehensive cover.
Kertar Singh has joint Great Eastern Life Assurance in August 1995 as a part time agent.
Became a full time agent in 2000 after retiring from the army after 22 years.
Selling Life Insurances , General Insurances and Will Writing.
Kertar.en@gmail.com
H.P 013-322 8582
