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Zurich Car Insurance Calculator Malaysia – What do Mavis and Mercedes have in common? Answer: Both vehicles require valid vehicle insurance to be allowed on the road.
Be it new or old, local or imported, if you have a car you must have the right car insurance to drive it on the road. It’s that simple.
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Anyone who tells you otherwise is either misinformed or simply not thinking about their own well-being as well as that of those around them.
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Also, if you do not have valid car insurance and road tax (both go together, you cannot buy or renew one without the other), withdraw the extra money if you have to pay to traffic enforcement agencies. May fall. Flagged down by police or stopped at a roadblock.
Under the Road Transport Act 1987, all car owners in Malaysia are required to have valid car insurance and road tax, both of which must be renewed annually.
However, in addition to legal requirements, it is also important to have adequate insurance coverage for your vehicle so that if something bad happens to it (be it a collision, natural disaster or theft), you can count on your policy for repair or replacement. To cover the costs.
Based on research by the Malaysian Road Safety Research Institute, more than 400,000 road accidents were recorded in 2020 alone, of which about 5,000 were fatal.
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That’s why it’s important to purchase the right – and adequate – insurance to cover you and your vehicle when you’re on the road.
There are three types of motor insurance available in the Malaysian market, each with its own unique purpose of covering you and/or your vehicle.
Third party insurance is generally the cheapest of the three car insurance policies offered and is the most basic form of car insurance you can get in Malaysia.
Picture this: It’s a rainy night and you’re driving home after a long night at work. The road was slippery and suddenly your car slipped at the intersection and you collided with another motorcycle. Luckily, you escaped unhurt – but the same can’t be said for the person you collided with.
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To avoid spending a lot of money to pay your hospital bills – not to mention vehicle repairs – you’ll need at least third-party car insurance.
As its name suggests, third party coverage insurance covers claims against you for injury or death caused by others (third parties). It also covers any loss or damage caused to their vehicle or property.
For the most part, fire and third party theft cover works exactly like third party cover, except that the policy allows you to make a claim if your car catches fire or is stolen.
Please note that this type of cover covers loss/damage caused by accidental fire and theft, but does not cover loss/damage caused by accident.
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This car insurance offers broader coverage than the above two car insurances.
Apart from covering all the above, it also covers damage caused to your own car!
Comprehensive car insurance is suitable if you can’t afford to replace the car, for example using savings to buy a new car or use another car.
For example, the moment you depend on your car to get to work, and the above scenarios do not apply, it is best to get comprehensive coverage that covers the replacement value (current market value) of your car. So you can buy at least one more car. ,
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Deciding the right amount of car insurance is not rocket science. Insurers aim to make your life easier and determine the best insurance amount based on the market value of your car.
With the implementation of daterisation from July 2017, other factors are important in determining your premium. However, the ideal insurance amount actually goes back to the market value of your car.
Simply put, insurers can get the technical details of your car from the database, such as year of manufacture, engine size, model type, performance, etc. Know the current market price. , Actual mileage is given.
It’s simple, if you buy a new car worth RM100,000, your insurance amount should ideally be equal to that amount.
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As the actual value of your car decreases over the years and your car ages, the sum insured may be less than your car’s depreciated and market value each year.
Theoretically, you can choose to purchase the sum insured for less than the market value of your car. For example, if the market value of your car after a few years is RM22,000, you decide to buy only RM20,000 worth of insurance.
You may save a few bucks, but in the end you may still decide to take the full RM22,000 as the difference in premium may be very small and you will be penalized for underinsurance.
While it’s tempting to dive in to find the best car insurance deals, you may want to carefully read the terms and conditions of all three policies and be aware of what is and isn’t included in your insurance.
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Not all incidents are covered by your car insurance policy, even if you think they might be, because your car insurance plan is a little more expensive than most – or even one of the best – plans you can buy. Can.
If you think standard car insurance can cover the cost of your medical bills – or even your funeral costs – if you’re in a car accident, think again.
Even comprehensive car insurance only covers damage to your vehicle (and any vehicles you may be involved in an accident with).
However, you can add personal injury insurance to your car insurance to help cover medical expenses.
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Alternatively, you can get separate health or personal accident insurance to help with your medical bills. – Check if the policy covers injuries caused by traffic accidents.
A passenger who is injured in a car accident usually has a easier time than the person driving – if two vehicles are involved in an accident, one of the drivers will be found negligent and liable for bodily injury to the passenger. ,
To avoid paying for these claims, you can add passenger liability coverage to your vehicle policy.
Decorating your brand new car with custom rims, leather seats, and an expensive sound system can earn you points for cookies (and even dates) with friends.
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Most standard car insurance policies do not cover the cost of repairing or replacing these custom accessories, although you can check with your car insurance provider to see if your accessories may be covered.
As car parts wear out over time (except glass parts like the windshield), the value of your car decreases along with them.
If you are planning to insure a vehicle 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 unfortunate events, along with earthquakes and hurricanes, are commonly referred to as natural disasters or acts of God and are typically not covered by standard auto insurance policies.
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Of course, this will result in higher insurance premiums, but if you live in an area that is prone to floods and/or landslides, it may be better to pay the extra amount rather than spending all your savings on repair costs. Which will undoubtedly be very expensive. ,
An automobile insurance policy allows policyholders to enhance their coverage with additional benefits and additional coverages in addition to the standard coverage. Talk to your insurer to request these additional coverages.
1. Flood, wind, rain, storm, hurricane, volcanic eruption, earthquake, landslide/slide, landslide or mudslide or other calamities of nature.
You might be wondering why I need personal accident insurance in addition to car insurance. We have prepared a comparison table that answers this question:
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Before July 2017, car insurance rates in Malaysia were almost the same across all insurance providers (depending on the price of your vehicle and its engine capacity).
While calculating the insurance premium, the insurer was mainly based on the technical specifications and age, i.e. the market value of your car.
However, since de-tariffing came into effect in July 2017, insurers now look at many other factors to determine your car insurance premium.
This risk-based rating is applied to encourage drivers to actively reduce their risk and thereby reduce their premiums. The main driver-related risk factors are:
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Age – If you have a ‘P’ license,
