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Car Insurance Rate Malaysia – Our premium estimator only gives an approximate price. Depending on the information provided, the total amount may differ at the time of purchase.
We offer many additional benefits for increased security. For an additional premium, we provide the following:
Car Insurance Rate Malaysia
Did you know this? In addition to protecting you and your vehicle, there is much more to enjoy in our selection!
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You get a 10% discount by renewing your insurance online. Tired of going to the counter? You can now buy your insurance via our website or mobile app!
Our trusted online payment partner iPay88 is regulated by Bank Negara Malaysia and complies with the highest international security standards (PCI DSS 1) and the Financial Services Act 2013.
Promilej offers all the benefits of our comprehensive packages at a lower price. Depending on how far you plan to drive, Promilej offers savings to keep you and your wallet safe.
Depending on the plan you choose, you’ll save between 10% and 40% on your initial fee (including the optional benefits premium listed above, if applicable).
9 Factors Affecting Your Car Insurance Premium In Malaysia
You can buy Promilej using our mobile application (), visit our website or call our customer service.
Yes, but you need to know if it is affordable for you based on current insurers’ short term cancellation rates.
No, before purchasing Promilej, you must send a photo of the odometer reading via our mobile app or online. Failing this, we reserve the right to terminate the contract.
Yes, you can. You must notify us of your request in writing. In the event of cancellation, you may receive a refund of the fee paid, provided that we maintain the standard short-term fee or the minimum fee.
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If you exceed the specified distance, don’t worry. You will receive an additional 500 km before the end of the contract.
If you exceed the specified distance and an additional 500 km, it will no longer be valid due to loss, damage or other optional benefits of the vehicle. However, third-party coverage remains unchanged.
You must complete the plan before the limit is exceeded. This ensures that you and your vehicle are fully protected on the road.
You can buy a top-up in the same way as your policy – online, through our app or simply call us. The cost is the difference between the current policy and the new policy.
Is It Possible To Cancel My Car Insurance Before It Expires?
For example, if your current plan is RM500 and the next plan is RM800, you only need to pay RM300.
If you exceed the permitted mileage before the end of the contract period, you will receive an additional 500 kilometers.
If you exceed the specified mileage and grease mileage and fail to fill up, it only applies to third party bodily injury or death and third party property damage, but not to loss or damage to your vehicle due to accident, fire or theft. (For Promile commitments issued after 19 March 2021, the optional services listed in point 1 above are not covered if you have exceeded your allocated mileage and mileage limit).
Once you’ve started coverage, you can upgrade to the next available mileage level or go full mileage for an additional fee. A maximum of 2 uploads is allowed. If you top up a second time, you can only top up the full mileage.
Car Insurance Rates & Quotes
No, you cannot change your plan. You also won’t get a refund and can’t transfer your unused miles to a new plan.
If I use the website or app to buy a policy, will I still get the 10% commission discount?
Your vehicle will not have a mileage tracking device installed. When purchasing the policy, you only need to enter the current mileage. We check the mileage again for damage. We send regular reminders to check your mileage.
You can call our staff at 1-800-88-2121 to resend your odometer photo the day before your coverage starts. Then we make the necessary changes.
Ultimate Guide To Car Insurance In Singapore (2023)
Yes, you can purchase flood or windshield coverage for a mileage-based premium.
The full terms of this policy can be found in the policy agreement and product details. As part of Bank Negara Malaysia’s (BNM) ongoing efforts to ensure that all players in the insurance and reinsurance industry meet their obligations and deliver their services as described. The Customer Service Charter (CSC), BNM and the Association Board and Management Committee (MTA/LIAM/PIAM) have approved the appointment of NielsenIQ Malaysia for the 2024/25. as the research agency of Customer Satisfaction Survey (CSS) 2024/25. For more information, please visit our announcements page.
We are here to protect your vehicle and others in the event of an accident. Plus, you can customize your coverage to fit your needs and budget with our affordable add-ons. Save more by paying for what you really need.
This list is not complete. Please see the full motor insurance policy for all optional benefits included in this policy.
Comprehensive Car Insurance: Third Party, Liability, Fire & Theft
1. It is an offense under the laws of the Republic of Singapore to enter the country without extending Passengers Liability/Liability to your car insurance.
2. Read and understand the policy and speak with an agent or contact the insurance company directly for more information.
3. For faster service, customers are encouraged to provide complete information required for a binding/actual quote or previous policy application/renewal notice.
4. Customers can visit any GEGM branch or our head office at Menara Great Eastern, Level 18 | 303, Jalan Ampang | 50450 Kuala Lumpur or contact GEGM customer service number (@1300-1300 88/email) at [email protected]. They can also refer to all designated representatives of GEGM.
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5. Please note that our cover/sum insured is based on the market valuation provided by Berhad Insurance Services Malaysia through ISM’s ABI system, which is accepted and used by the Takaful and insurance industry to determine the market value of the vehicle.
1. The above items are for public information only. This is not an insurance contract. See the insurance policy documents for the exact terms and conditions of the insurance plan.
2. Great Eastern General Insurance (Malaysia) Berhad 198301007025 (102249-P) is authorized under the Financial Services Act 2013 and regulated by Bank Negara Malaysia. Effective July 1, 2017, Bank Negara Malaysia (BNM) has liberalized motor insurance premiums for comprehensive and third-party motor, fire and theft insurance products. As a result of the liberalization, the price of the products was determined by individual insurers and grateful service providers. This move has since allowed consumers to enjoy more options as premiums differ between insurance companies.
In this article, we talk more about the liberalization of car insurance premiums and how it affects you as a consumer.
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The liberalization of motor insurance premiums means that motor insurance premiums in the market are no longer based on the motor premiums previously set by Bank Negara Malaysia. The liberalization allows grateful insurers and service providers to set premiums for comprehensive motor and other motor, fire and theft products accordingly.
This move benefits both insurers and their carriers, as well as consumers. Grateful insurance companies and operators can charge policyholders an appropriate fee or share. In addition, they can customize insurance or coverage packages based on the risk profile of policyholders. Meanwhile, consumers can benefit from a wider range of competitively priced car insurance products available on the market.
Tariffs are sets of fixed prices under insurance laws to simplify and control premiums and policy wording. For example, insurance companies and takafull operators do not have the right to change the premium rate based on premiums.
As the regulator of all financial institutions, Bank Negara Malaysia set and supervised car insurance premiums.
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Before liberalization, car insurance premiums were calculated based on the sum insured and the vehicle model. Insurers could also impose limited premiums based on the age of the driver and the number of road accidents.
In addition, the premium calculated on the basis of the No Claims Discount (NCD) was modified depending on the driver’s claim history. In general, drivers with a good driving record can enjoy a higher percentage of NCD, up to 55% for private cars.
From July 1, 2017, several risk factors are taken into account when determining the price of car insurance. The risks are primarily based on the sum insured, the engine capacity of the vehicle and the age of the driver and the vehicle.
Among the above factors, it determines the risk profile of the policyholder, which then determines the premium. Premiums may vary by insurance company because insurers and grateful carriers may determine the risk profile of their policyholders differently.
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Release: July 1, 2016. In this phase, insurers and operators were able to flexibly offer new motor vehicle products and additional coverages not specified in the existing tariff.
As of July 1, 2017, insurers and operators were given more flexibility. They are free
