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Motor Insurance Policy Malaysia – As part of Bank Negara Malaysia’s (BNM) ongoing efforts to ensure that all parties in the insurance and Takaful sector comply with their commitments and services as stipulated in the Customer Service Agreement (CSC), BNM as well as providing Boards and Committees Management. (MTAs). ) /LIAM/PIAM) has confirmed the appointment of NielsenIQ Malaysia as the research agency to conduct the Customer Satisfaction Survey (CSS) 2024/25. More information can be found on our announcement page.
We are here to protect your car and others in the event of an accident. Plus, you can customize your service to fit your needs and budget with our affordable add-ons. Save more by paying for what you really need.
Motor Insurance Policy Malaysia
This list is not complete. All the optional benefits provided under this policy can be found in the comprehensive car insurance policy.
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1. Under the laws of the Republic of Singapore, it is an offense to enter the country without adding Passenger Liability / Passenger Liability to your car insurance.
2. You should read and understand the policy and discuss it with the agent or contact the insurance company directly for more information.
3. For faster service, customers are advised to provide complete information required for existing booking/issuance or a copy of previous policy plan/renewal notice.
4. Customers can visit any GEGM branch or our head office located at Menara Grand East, Level 18 | 303, Jalan Ampang | 50450 Kuala Lumpur or contact GEGM Customer Line @1300-1300 88/email at [email protected]. They can also apply to any authorized GEGM representative.
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5. We would like to inform you that our Sum Covered/Insured is based on the market value provided by Insurance Services Malaysia Berhad through their ISM ABI system which is used by the takaful and insurance industry in determining the market value of the acceptable and executed vehicle. .
1. The above is for general information only. It is not an insurance policy. The exact terms of the insurance plan can be found in the insurance documents.
2. Greater Eastern General Insurance (Malaysia) Berhad 198301007025 (102249-P) is licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia. If this is your first time, you may be unfamiliar with motorcycle insurance and other related issues. Such problems can be:
“What type of auto insurance should you get?” “Where can you buy car insurance?” “What type of coverage should you be looking for?”
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Wait, we will help you solve your confusion! In this article, we answer some frequently asked questions about motorcycle insurance.
Motorcycle insurance is a form of insurance for your motorcycle in case of an accident. It helps protect you from financial liability in many areas if you ever get into an accident.
At the same time, some people may need insurance for damage caused by theft or fire. However, it depends on the type of policy.
Insurance premiums will vary due to various factors. These factors include motorcycle types, rider records, age, location, gender, etc.
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You should insure your motorcycle based on its current market value. Your insurer may penalize you if your motorcycle is insured for less than market value.
Example: If the market value of your motorbike is RM10,000 but you have only insured it for RM8,000. You are not responsible for the penalty of insufficient insurance.
Under the Road Transport Act 1987, all motorcyclists must purchase third party liability insurance for their motorcyclists. It is renewed every year to help cover damages if found guilty.
The penalty for driving a motorbike without insurance is up to RM2,000 or three months imprisonment or both under Section 90 of the Road Transport Act.
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Yes, anyone is allowed on your motorcycle if you purchase an additional service for all riders or list them as an authorized rider under special protection.
Please note that you should only allow authorized riders to ride your motorcycle. Authorized policyholders are those who are covered by your insurance if something happens, according to your insurance plan.
As far as you know, the insurance company will not provide coverage if you ride a motorcycle in the following cases:
Extend your insurance plan with additional competitive driving protection so that you can enjoy coverage if something happens to you in those situations.
Car Insurance Rates & Quotes
Motorcycle insurance protects you if something happens to the motorcycle. It covers against any damages/accidents during the policy period. In addition, the coverage extends to the liability of third parties.
You can choose to buy a third party policy. This coverage provides financial protection to third parties in accidents caused by your negligence.
In short, we recommend that you search for several motorcycle insurance policies online first. Comparing insurance will allow you to find the best policy at the cheapest price.
For your convenience, you can find websites that allow you to compare different insurance companies at once. For example, you can use – the leading insurance comparison site in Malaysia to make your search easier!
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Is one of the largest insurance comparison sites in Malaysia, offering policies from over 10 brands. Get a free quote today! What do Myvi and Mercedes have in common? Answer: both vehicles require car insurance to be driven on the road.
New or used, inside or out, if you own a car, you must have valid car insurance to drive it on the road; it’s that simple.
Anyone who tells you otherwise is either uninformed or doesn’t care about their own well-being – as well as those around them.
Also, if you don’t have valid car insurance and road tax (the two go hand in hand, you can’t buy or renew one without the other), you can pay extra to pay traffic tickets. stopped by the police or on the road.
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Under the Road Transport Act 1987, it is mandatory for all car owners in Malaysia to have car insurance and road tax, both of which must be renewed annually.
However, apart from the legal requirements, it is also important to have adequate car insurance so that if something bad happens to it (accident, natural disaster or theft), you can rely on your insurance policy to cover the costs. of maintenance – or exchange.
According to a study by the Malaysian Road Safety Research Institute, there were more than 400,000 road accidents in 2020 alone, of which nearly 5,000 died.
That’s reason enough to buy the right – and adequate – insurance for you and your car while you’re on the road.
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There are three types of car insurance in the Malaysian market, each unique in its purpose to cover you and/or your car.
Third party insurance is usually the cheapest of the three car insurance policies on offer and is the most basic type of car insurance you can have in Malaysia.
This picture: it’s a rainy night and you’re coming home after a late night at work. The road was slippery and your car suddenly skidded at the intersection and you collided with another driver. Luckily, you escaped unscathed – but that can’t be said for the person you collided with.
You’ll need at least third-party auto insurance so you don’t end up paying huge hospital bills—not to mention car repairs.
Comprehensive Car Insurance: Third Party, Liability, Fire & Theft
As the name suggests, third party insurance covers claims against you for bodily injury or death caused by third parties (third parties). It also covers any loss or damage to their vehicle or property.
Third party fire and theft cover works much 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 due to accidental fire and theft, but does not cover loss/damage due to the accident itself.
This car insurance offers a wider range of coverage than the two car insurances mentioned above.
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In addition to providing coverage for all of the above, it also covers damage to your OWN vehicle!
Car insurance is useful if you cannot easily trade in your car, for example using your money to buy a new car or use a second hand car.
When you rely on your car to commute to work, for example, and the above conditions do not apply, it is best to have a comprehensive service that will cover the replacement value (current market value) of your car. , so you can at least buy another car.
Deciding on the right amount of car insurance is not a science. The goal of insurance companies is to make your life easier and determine the best insurance rate based on the market value of your car.
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With the tax exemption coming into effect from July 2017, other factors are important in determining your payment. However, the best insurance amount really only comes back to the market value of your car.
In short, insurance companies can opt out
