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3 Important Things to Consider When Choosing a Motor Insurance

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Published 1 month ago

3 Important Things to Consider When Choosing a Motor Insurance

What do a Myvi and BMW have in common? 


Answer — they both require motor insurance to be allowed on the roads of Malaysia! That’s because under the Road Transport Act 1987, motor insurance is mandatory for all vehicle owners. 


However, most people often fall into the trap of purchasing the cheapest motor insurance, only to regret it later when their vehicle has been involved in an accident or worse. 


Just like any type of insurance, choosing the right policy is crucial to ensure your interests are protected in a variety of situations and in the event that you do not have adequate financial resources. 


Here are 3 things to keep in mind when choosing a motor insurance: 


1. Natural disaster protection 

Malaysia is no stranger to torrential downpours. However, continuous heavy rain (especially during monsoon season) can cause flooding or landslides. Even if you don’t live in a flood prone area, the risk of floods shouldn’t be overlooked as anywhere can be subject to flash floods. A report by Utusan Malaysia counted an estimated 50,000 cars were left damaged by floods in Malaysia in 2021. 😱


Choosing a motor insurance with natural disaster coverage will ensure that your vehicle is insured if it gets flooded, or worse, submerged. Considering how frequently flooding has happened recently, this coverage is proving to be more and more important. This would typically fall under an ‘Act of God’ policy, which covers natural hazards that aren't caused by a human. 



2. The insurance company pays for damages   

You can be the best driver in the world but accidents can still happen to anyone. Paying for the damage can be extremely costly and will most likely burn a hole in your wallet, considering how expensive spare parts are in Malaysia.

This is where motor insurance comes in handy — if you have third party motor insurance, it can assist you in compensating the person involved in the accident for their injuries and any damage to their car.

Comprehensive motor insurance allows you to claim for the third party’s physical and vehicle damage, as well as your own as well. Accidents, fire, and theft are also usually covered by comprehensive motor insurance. 


3. Enjoy the No Claim Discount (NCD) 

If you made it through the year without making any claims on your motor insurance, you’ll be given a No Claim Discount to reward awesome drivers like you. 


The longer you maintain your good driving record, the greater the discount you’ll receive. In Malaysia, NCD discounts can range from 25% to 55%. 


On top of that, you can also transfer your NCD from your old car to the new one. 


3 Important Things to Consider When Choosing a Motor Insurance

By the way… 

Did you know that the easiest and most convenient way to protect your vehicle is through Motor Easy by BigPay x Tune Protect


Here’s why you’ll love it: 

1. It’s WAY cheaper with great coverage 

Whether it’s damages caused by natural disasters, riots, or even legal liabilities, protect it all for way less than other insurers. Request a quote here.

 2. Authorised panel workshop guarantee

Free 6-month guarantee on workmanship and replacement parts from authorised panel workshops.

3. Inconvenience allowance

Get daily cash allowance when your vehicle is damaged and undergoing repairs

 

4. BigPay gives you up to *RM150

Switch before 31st January 2023, you’ll get up to RM150* credited to your BigPay wallet!

Here are the mechanics:
🚗 RM80 eWallet credit for premiums ranging from RM500 to RM1000.
🚗 RM150 eWallet credit for premiums above RM1000.

 

* Terms and conditions apply

 
What are you waiting for? Switch now to Motor Easy!

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Here are 3 things to keep in mind when choosing a motor insurance: 

1. Natural disaster protection 

2. The insurance company pays for damages   

3. Enjoy the No Claim Discount (NCD) 

By the way… 

Here’s why you’ll love it: 

1. It’s WAY cheaper with great coverage 

 2. Authorised panel workshop guarantee

3. Inconvenience allowance

4. BigPay gives you up to *RM150

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Written by

Sabrina Loh

I’m Sabrina, a versatile writer with 7+ years of experience and I’ve been published by household names such as Tatler, Harper’s Bazaar, Mindvalley, and Cosme Japan.

👇 Follow my journey on my social media accounts 👇

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