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Car Flood Insurance Malaysia – Malaysia has been hit by some of the worst floods in recent years. Due to this, many vehicles were affected. Perodua, Malaysia’s largest carmaker, said recently that more than 11,000 vehicles were sent to its service centers for repairs due to water damage. Repairing a water damaged car is very expensive because it involves many mechanical and electronic parts. The only way to save money is to purchase flood insurance in addition to your car insurance. Flood coverage is one of the most important add-ons when you buy car insurance today. Our previous article discussed flood prevention measures and benefits of flood protection. You can read it here.
In this article, we will compare flood insurance prices from several insurance companies in Malaysia. For this comparison, we will use a 2015 Proton Persona SE-4 Speed Auto driver to get 55% NCD. The coverage amount used in the comparison below ranges from RM14,000 to RM14,100.
Car Flood Insurance Malaysia
Etica offers two types of flood insurance riders: Basic Flood Insurance and Extended Flood Insurance. First, let’s look at basic flood coverage. This insurance costs RM35 and protects your vehicle against floods, landslides and thunderstorms. This coverage is in addition to the basic contribution of 5.3%.
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Extended flood insurance costs RM70 and provides extra protection for your vehicle. In addition to floods, landslides and thunderstorms, this coverage also protects your vehicle from heavy rain and severe weather, especially in rural areas. This cover adds 10.7% to the basic contribution cost.
AXA only offers one type of flood insurance to its riders. This additional insurance fully protects your car against damage caused by floods, landslides, storms, etc.
This AXA add-on product costs only RM30 and adds 3.7% to the base premium.
Takaful Malaysia offers flood insurance through a rider known as “Special Perils”. This add-on protects your vehicle against loss or damage caused by natural calamities like floods, storms, landslides.
Road Assist (e-assist)
Berjaya Sombo offers flood protection in its car insurance policies, one of the benefits it calls “Special Perils Coverage”. No need for extra add-ons to protect your vehicle from floods, storms, landslides and more.
Berjaya’s flood insurance covers up to RM10,000 or 20% of your sum insured, whichever is lower. This means:
If your car repair cost exceeds RM10,000, you will have to pay the remaining amount yourself.
Alliance offers flood protection services through an additional service called “Special Risks”. This subsidy covers loss or damage to your car due to floods, storms, landslides, landslides and many more.
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This table shows flood insurance offered by 5 companies, ordered by lowest price. The table shows the price and percentage you have to pay in addition to the basic contribution. Berjaya Sombo will find that they don’t need to pay anything extra for their flood insurance. Only Allianz is cheaper at RM28, plus 3.4% of basic contribution. On the other hand, Etica’s extended flood insurance is more expensive at RM70, which is an additional 10.7% on top of the basic premium.
If you don’t want to spend extra money on flood insurance, Berjaya Chombo should be considered as there are no additional insurance charges. However, this protection is very limited. This is limited to up to RM10,000 or 20% of your Sum Assured, whichever is less.
We recommend purchasing this flood insurance only if the sum insured is less than RM50,000. If your sum insured exceeds RM50,000, we strongly advise you not to choose Berjaya Chombo as your car repair costs may not be fully covered and you will have to pay the remaining cost yourself.
If you want the best flood protection, we recommend choosing AXA who will repair your vehicle up to the full policy amount. This means that your flood insurance will provide the same level of protection as your basic policy amount. Plus, it’s cheap at RM30 and only adds 3.7% to your base donation price. Apart from inundation of houses, natural calamities like floods also cause many motorbikes and cars to get submerged. Therefore, it is important to purchase special perils car insurance to reduce the risk of loss and the cost of repairing a flooded car. Additionally, it allows you to get flood car insurance as basic car insurance is insufficient and does not cover losses caused by natural disasters.
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If you live in an area prone to flooding or flash flooding, it’s important to know what to do if your car is flooded. Taking the right steps can help minimize losses and prevent further damage.
Once the flood recedes and conditions become safe again, the first thing you should do is check the extent or depth of the flood. Typically, flooding leaves mud or stains on the interior or exterior of your car, such as the seats, roof, dashboard, etc. This will allow insurance companies to estimate the amount of damage based on the amount of water that submerged the vehicle.
If your vehicle is completely submerged in flood water, do not attempt to start the engine. This can lead to a short circuit, which can lead to more serious damage. Sometimes it can even be life threatening.
There is a risk of damage to car parts in floods. All you can do is remove the car battery or use a towing service to take your flooded car directly to a repair shop. If necessary, have a technician come and inspect the car.
Tokio Marine Autopro
The next important thing you should do is contact your insurance company to report flood damage to your car. If the vehicle is completely submerged, use a tow truck to move the vehicle if necessary. Do not attempt to start the engine or drive it to a repair center yourself as this can cause more serious damage.
Preserving photographic evidence is important to simplify the flood insurance claim process. Insurance companies generally require the following details or documents to process your flood insurance claim:
When you arrive at the workshop, start by inspecting your car’s engine or transmission. Check the engine oil level or transmission oil level with the dipstick. If the amount of black oil or transmission fluid exceeds the appropriate level, it means that water has entered the engine.
You should do three to five flushes based on your mechanic’s recommendations. To reduce the risk of engine damage, drain water-contaminated engine oil and transmission oil and use fresh oil.
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When a car gets flooded, the internal parts of the car are definitely affected. Any removable internal parts such as the radio can be removed for cleaning and drying.
A high-pressure water sprayer can also be used to clean flood-damaged cars, especially hard-to-clean areas such as the car’s engine, tires and brakes.
However, avoid spraying water directly on the air filter and engine oil cap, as this can damage these parts. Remove dirt, mud or mud from flood-damaged car seats – make sure they are completely dry to avoid odors.
The location of your car’s fuel tank can also affect your car from flooding. If you suspect that your car’s gas tank is flooded, remove the water-contaminated fuel to avoid more serious engine damage.
Essential Maintenance Tips For Flood-affected Cars
If your car has natural disaster insurance or flood car insurance, you can file a claim with your insurance company. To make things easier for you, here are the steps to file a car flood insurance claim.
If you find your vehicle flooded, you should report the incident to your insurance company. If necessary, seek the help of a towing service to take your vehicle to the nearest repair shop.
If your car is flooded, you should not start your car’s engine as this can cause more damage to your car.
In addition, you should gather relevant evidence to facilitate the claims process. Most insurance companies require supporting documents and relevant evidence in a car insurance claim, such as:
Increased In Special Perils Take Up Rate
Report the crime to the police as soon as possible. Under the Road Traffic Act 1987, the police must be notified within 24 hours of the accident.
However, if you have reasonable grounds, a police report may be accepted even after 24 hours, subject to police assessment.
With all the required documents and proofs, submit your claim to your insurance agent or car insurance company. Generally,
