Allianz Car Insurance Calculator Malaysia

Allianz Car Insurance Calculator Malaysia – What do MyVee and Mercedes have in common? Answer: Both vehicles require valid motor insurance to be roadworthy.

If you own a new or used car, local or imported, you must have valid motor insurance to drive on the road; It’s easy. 

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Anyone who tells you otherwise is either wrong or doesn’t care about their own well-being or the well-being of those around them.

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Also, if you don’t have valid car insurance and road tax (the two go together, you can’t buy or renew one without the other), you’ll have to pay extra to pay traffic citations. Stopped when reported by the police or at a roadblock.

Under the Road Traffic Act 1987, all car owners in Malaysia must have valid motor insurance and road tax, both of which are renewed annually.

In addition to legal requirements, it’s also important to have adequate car insurance for your vehicle, so that if something bad happens to it (whether it’s a collision, natural disaster or theft), you can count on it to protect you. Repair or replacement costs.

According to a study by the Malaysian Road Safety Research Institute, there were more than 400,000 road accidents in 2020 alone, with nearly 5,000 fatalities. 

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This is reason enough to purchase adequate and adequate insurance to cover you and your vehicle while you are on the road.

There are three types of car insurance in the Malaysian market, each with a unique purpose of covering you and/or your car.

Third party insurance is usually the cheapest of the three car insurance policies offered and the most basic type of car insurance you can get in Malaysia. 

Picture this: It’s a rainy night and you’re coming home from work late. As the road was slippery, suddenly his car skidded at the intersection and hit another driver. Fortunately, you escaped unscathed, but the same cannot be said for the person you collided with.

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To avoid spending more money on your hospital bills, let alone vehicle repairs, you’ll need at least third-party auto insurance. 

As the name suggests, a third party insurance policy covers claims against you for bodily injury or death caused by others (third parties). This includes any loss or damage to their vehicle or property.

In most cases, third party fire and theft insurance works like third party insurance, but the policy allows you to make a claim if your vehicle is damaged by fire or theft.

Please note that this type of cover covers accidental loss/damage due to fire and theft but not accidental loss/damage. 

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This car insurance policy offers a wider coverage than the two previously mentioned car insurance policies. 

Apart from providing the aforementioned coverage, it also covers damage to your own vehicle!

Comprehensive car insurance is a good idea if you can’t replace your car, for example if you’re using your savings to buy a new car or if you’re using another car. 

For example, if you rely on your car to get to work and the above scenario doesn’t apply, get comprehensive coverage that provides cash for your car’s trade-in value (current market value). . At least you can buy another car.

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Figuring out the right amount of car insurance isn’t rocket science. The purpose of insurance companies is to make your life easier and determine the optimal insurance amount based on the market value of the car. 

Due to the demonetization implemented from July 2017, additional factors are also relevant for determining fines. However, the ideal insurance amount is really tailored to the market value of your car.

In simple terms, insurance companies pay for the car based on its year of manufacture, engine size, model type, horsepower, etc. They can collect technical information from the database, so they can compare the original price of the car to the current market. the cost of the car. Based on actual mileage.

Of course, if you buy a new car for RM100,000, the insurance amount should be the same. 

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While the original value depreciates and the car wears out over the years, the car’s depreciated value and market value can also reduce the sum insured each year.

In theory, you can choose to purchase an insurance amount that is lower than the market value of the vehicle. For example, if the market value of your car is RM22,000 after a few years, you decide to buy insurance for only RM20,000.

You might save a few bucks, but in the end you might end up paying as much as RM22,000 as the premium difference might be relatively small and you will be penalized for being underinsured.

While it’s tempting to shop around for the best auto insurance deals, it’s a good idea to carefully read the terms and conditions of all three policies to understand what’s included and what’s not.

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Even though you might think, not all incidents are covered by car insurance, because your car insurance plan is a little higher – or the highest – it’s one of the best plans you can buy compared to others.

If you think regular auto insurance can cover your medical bills or even your funeral if you are involved in a car accident, think again. 

Even comprehensive car insurance only covers damage to your vehicle (and the person you hit). 

However, you can add personal accident coverage to your auto insurance to cover medical expenses. 

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Alternatively, you can take out a separate independent health or personal accident insurance policy to help cover medical bills. – The policy should cover those injured in a car accident.

A passenger in a car accident gets off easier than the person behind the wheel – if two vehicles are involved in an accident, one driver may be negligent and liable for personal injury. passengers 

To avoid paying these claims out of pocket, you can add passenger liability extension coverage to your auto insurance policy.

Buying your new car with custom wheels, leather seats and an expensive sound system will earn you brownie points with friends (and on a date). 

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Most standard car insurance won’t cover the cost of repairing or replacing these unique accessories, but you can check with your auto insurance provider to see if they can extend coverage for accessories.

Over time, car parts wear out (except for glass components such as windshields), and the value of the car decreases with it. 

If you are planning to insure a car that is more than 15 years old, it may be difficult to get comprehensive car insurance for it, but you can opt for third party insurance instead.

These adverse events, including earthquakes and hurricanes, are commonly referred to as natural disasters or acts of God and are generally not covered by standard auto insurance policies. 

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This will of course result in a higher premium, but if you live in an area prone to flooding and/or landslides, paying extra instead of spending all of your savings on repairs is sure to be awesome. expensive

Autopolisis allows policyholders to upgrade their coverage with additional benefits and additional coverages beyond the standard coverage. Contact your insurance company to request this additional coverage.

1. Floods, hurricanes, torrential rains, typhoons, typhoons, volcanic eruptions, earthquakes, landslides/landslides, landslides/landslides or other natural disasters 

You may be wondering, why do I need personal accident insurance supplemental insurance auto insurance? Well, we’ve created a comparison chart to answer your question:

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Until July 2017, car insurance rates in Malaysia were roughly the same across insurance companies (depending on vehicle value and engine size). 

The insurance company calculates the premium mainly based on technical data and age, hence the market value of your car. 

However, since de-tariffing started in July 2017, insurance companies will take into account several additional factors to determine your car insurance premium. 

This risk-based assessment is designed to encourage drivers to actively reduce their risk and thereby receive lower rewards. The most important risk factors related to managers are:

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Age – If you have a “P” driving license,