Simple Explanation Of Car Insurance

Getting insurance, maintaining it, and renewing the policy as to when due is standard practice for vehicle owners. Yet, it’s safe to say that many drivers don’t really know much about auto insurance beyond the basics.

What Exactly Is Car Insurance?

How does it work? Find out all that and more right here! Hi there! I’m Stella, Fincrew brand ambassador, and I’ll be your host on all things
auto insurance
 in Malaysia! Today, I’ll be giving you a basic rundown of everything involving
car insurance
, from what it is to the different types available to you. Understanding
auto insurance
 is the first step towards ensuring you get the most value for every ringgit. The Insurance360 Video Series by Fincrew breaks down all you
need to know
 about your vehicle coverage! So make sure you don’t miss another episode! Click the Subscribe button and enable notifications now! Essentially, an auto insurance policy is a written contract between you and your insurer that protects you from incurring financial loss should your vehicle suffer damage or any incident of theft. In turn, you are expected to pay what is called a Premium. Keep in mind that the extent to which your insurance company offers you coverage is dependent on what type of coverage plan you take out with them. In Malaysia, there are essentially three types of
car insurance
. There is the;

Third-Party Coverage

According to driving regulations in the country, you must have an
auto insurance policy
 before putting your car on the road. This is the least possible coverage you can take out on your vehicle. It also happens to be the cheapest. However, its scope of coverage is minimal as you are only insured for damages to the other individuals’ person, property, and vehicle, nothing more.

Third-Party, Fire and Theft Coverage

This is an improvement on the Third-Party basic coverage for drivers willing to spend a little more. It’s worth mentioning that procuring this policy is strictly by preference. Some perks of doing so include the fact that you’re insured against financial losses if your automobile is damaged by fire or theft. However, you’re not insured for repairs to your vehicle should it be damaged in an accident.

Comprehensive Coverage

This is the most extensive and expensive policy you can take out on your vehicle today. Not only are you fully financially covered in the event of damage to a
Third Party’s
 vehicle or property, but you also won’t have to pay out-of-pocket should your car be damaged by fire or theft. You are also insured for repairs if your car gets damaged due to a collision, provided you weren’t the at-fault party. To
claim
 a payout, you need to make sure you first file a police report within 24 hours of the accident. Next, shift your vehicle to either the panel workshop of your insurer’s or that of the driver at fault, depending on the nature of the accident. You’ll then need to employ the services of an Independent Licensed Adjuster to help you assess things like the cost of the damages and what compensation would be appropriate for covering the length of time you would be without a vehicle.

Then, as appropriate, you would need to tender,

An original copy of your police report,

Your “Keputusan,” which is your Results report,

A copy of your National Registration Identity Card and your
driver’s license
,

Your car registration card,

The adjuster’s report, your bill of repair costs, and photographic evidence of the damage.

And that’s all you need to know about
auto insurance
 for now! Do you have any questions about Malaysia’s car insurance so far? Leave it in the comments section below, and we’ll get to it right away! Be sure to Like this video, Subscribe and set up notifications, so you get a ping when future episodes from this Insurance360 video series comes on! See you again!

Tags:
Car Insurance
Comprehensive Coverage
Fire and Theft Cover
Third-Party Coverage
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What Is Comprehensive Auto Insurance?

Every automobile needs
insurance
, right. So once you’ve gotten any random insurance policy, you should be just fine, right? Wrong! Taking out insurance on your vehicle is something you should do very carefully, not just because you have to. But how do you know if you have picked the right policy? Is there really any difference between
comprehensive auto insurance
 and the other policies out there?

Yes, there is!

In today’s episode, we’ll be extensively discussing
comprehensive auto insurance
 and how it differs from the other vehicle insurance policies. Hello, I’m Fincrew brand ambassador and will be your guide on all things
auto insurance
 Stella, and today, we’ll be highlighting all the factors that distinguish
comprehensive auto insurance
 from the rest. You don’t want to miss a single clip in the Insurance360 Video Series! Get on all the relevant updates you need to make the most of your precious ringgits! Simply click on the Subscribe button and enable notifications, so you know when we make a new release!

There are many kinds of
insurance policies
 out there today, so to understand how one differs from the result, you have to know what each of these policies mean. You’ll find three
auto
insurance policies
 in operation today. They are:

The Third Party auto insurance,

The
Third Party
, Fire and Theft auto insurance, and

The Comprehensive
insurance policy
.

The Third-Party Auto Coverage

This is the smallest and most basic auto insurance you can take out on your vehicle. Essentially, what this policy does for you is offer you a measure of financial security should you get involved in an accident that damages another driver’s vehicle or property. This policy will cover the cost of repairs to the other party’s possessions and health bills if it’s required. However, that is the extent of this policy’s coverage. As the cheapest automobile policy you can take out, its coverage doesn’t reach repairing your own vehicle or catering to your health bills.

The Third Party, Fire and Theft Auto Coverage

This policy bears remarkable similarities to the primary Third-Party auto insurance coverage policy. It also seems to cover the financial implications of repairing the other driver’s vehicle or property and sorting out the medical expenses. However, it offers one important additional feature; Under this policy’s coverage, you have the right to claim if your vehicle is stolen or gets damaged to any extent due to a fire or theft. Remember that you have to exercise a measure of caution when filing a claim under this policy because it doesn’t cover the costs of repairs for damages resulting from an accident.

The Comprehensive Auto Insurance Coverage

This is arguably the most expensive
vehicle insurance
 policy in the country today. Yet, more and more drivers get it each day. It continues to gain increasing popularity because of the wide coverage it offers your automobile. Besides offering all that you can get from the basic Third Party and Third Party, Fire and Theft policy combined, it also provides some special features unique to just this coverage type. Perhaps the greatest of these features is the fact that it covers the cost of repairs of your vehicle if it gets damaged as a result of an accident! This is a precious tool to have handy if your car is expensive or exotic and you can’t afford to replace it just like that. However, as awesome as this policy is, it doesn’t cover you in every single driving accident scenario. For example, a claim cannot be filed in the event of your death or bodily injury under this policy. Also, should any custom-fitted car accessory get damaged or stolen, this policy won’t pay out to cover that expense.

If this video was helpful, leave us a Like and Comment down below! To see more amazing upcoming episodes from this Insurance360 video series, be sure to hit that Subscribe button and enable notifications. Catch you in our next video!

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Comprehensive Coverage
Fire and Theft Cover
Third Party Insurance
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First, Second And Third Party In Insurance Policy

You might have encountered the term “
third party
” in your insurance policy. Perhaps you are a new vehicle owner, and you are wondering what that describes and who would be first and second parties in that case. If you still haven’t signed a policy, these terms can help you find your needs’ best deal. Before you choose the desired package, it is vital to understand the area well. That is why we decided to dedicate the entire article to explaining these parties mentioned in
insurance deals
. Here is what’s their difference and how to categorize them!

Who Is The First Party In A Car Insurance Deal?

Are you the vehicle owner that signs the insurance and accepts the deal offered by the company? If the answer is yes, you are the first party in your policy. The first party is the person who is the policy (and usually car) owner and signs the agreement with the
insurance provider
. You are one of the two parties that signs the deal, and your signature will usually be the first placed on the policy. That’s why you are the “first party.”

Who Is The Second Party In Vehicle Insurance Policies?

The second party is the other side, which signs the agreement with the policy owner. In the case of
car insurance policies
, that will be the insurance companies. Although a responsible agent will sign in the company’s name, the agency itself is considered the “second party.”

Who Is The Third Party In Car Insurance Deals?

As you might assume, the
third party
 in motor insurance is any other party that didn’t sign the policy. That means those are all different people and property outside the signed agreement. Although these parties aren’t included in the deal, the policy consists of them for multiple reasons. The third-party insurance policy is mandatory by the law, and all vehicle owners should have it. If the accident includes property or third-person damage, the policy will cover it. That can be important because it provides drivers peace of mind – even if something goes wrong and an accident occurs, you know that the insurance is there.

Difference Between First-Party And Third-Party Insurance Claims

The insurance company will often have different policies available. That ensures users can pick the one that fits their needs. You can add different extras to your contract, but the primary difference is between a first and third-party
insurance claim
. Here is an example situation – an accident happens, and a passenger in the other vehicle is injured. The third-party (passenger) then decides to file a
claim against your insurance company
. It depends on your deal’s specifics, but the agency should settle by covering all expenses mentioned in the
insurance policy
 signed with you.

However, if you choose a first-party insurance deal, that means you can file a claim for the company to make up for the expenses on your vehicle, too. For example, let’s say that your
car got damaged in that accident
. You submit a claim against your insurance agency, and they should approve expense compensation. It’s possible to include fire,
theft
, and other additions in your
insurance policy
. That is why you should learn more about potential deals since it will ensure that you sign the one that meets your expectations.

Tags:
First Party Insurance
Insurance Policy
Second Party Insurance
Third Party Insurance
Third-Party Coverage
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Understanding Gharar In Takaful

Several principles must be adhered to when it comes to Islamic insurance or takaful, one of them being the avoidance of gharar. But what exactly is gharar, and what is its relationship to takaful? Have you ever heard of gharar before? Throughout this article, we will discuss the concept of gharar in detail and explain its significance in the context of takaful.

What Is Gharar?

It is a term used in Islamic jurisprudence to describe a relationship’s ambiguity, uncertainty, and deception. Generally speaking, it is considered haram (forbidden) in Islamic law because it can lead to unjust or risky
financial
 transactions. The following are examples of gharar:

The act of selling something that does not exist

The sale of something without disclosing all of its defects

Selling something without providing the buyer with enough information to decide on the purchase

Avoid Gharar by ensuring that all parties clearly understand the risks and rewards. To achieve this, fully disclose the terms and conditions of a
takaful
 contract and ensure that it has open and transparent management.

Gharar In Traditional Insurance

One of the main reasons traditional insurance isn’t compliant with Islamic law is because it involves elements considered gharar, which are against Islamic practice. Traditional
insurance policies
, for instance, disclose several exclusions and conditions to the policyholder before the policy is issued. Further, there is no guarantee that they will pay the
claims
, so the policyholder may only get what they expected when they file a claim.
Takaful
, on the other hand, is designed to be free of gharar by fully disclosing the terms and conditions of the contract and ensuring that all parties share the risks and rewards equally.

How Takaful Avoids Gharar

The Takaful system is based on cooperation and shared responsibility. A takaful scheme involves the participants pooling their funds together to create a collective fund to pay claims due to their participation. It means the risks and rewards are shared among all participants rather than being borne alone by one individual or
business
. Additionally, Takaful companies must disclose all of the terms and conditions to their policyholders, including any exclusions or limitations that may apply. As a result, the policyholder can better understand the coverage they are purchasing and the risks that go along with it.

The Bottom Line

Gharar
 is one of the most critical concepts in Islamic jurisprudence.
Takaful
 can avoid
gharar
 and remain compliant with Islamic law because it discloses all the terms and conditions of the agreement and operates on the principle of cooperation and shared responsibility by providing complete disclosure of the terms and conditions of the contract. Thus,
Takaful
 is becoming a more popular alternative to traditional insurance due to its numerous benefits.

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Gharar
Takaful
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Can Insurance Company Refuse To Insure Your Car, Why?

If a
car insurance company
 wants to earn money, it needs to attract clients and insure as many vehicles as possible. While profit is significant, an agency might estimate that a particular insurance deal comes with a risk so big that it’s not worth it. Yes, a
car insurance company
 can refuse to insure your vehicle. But why would that happen? In this article, we are focusing on the most frequent reasons why an insurance agency might reject your application.

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You Have a History of Not Paying on Time

Have you already done
business
 with that
insurance company
 in the past, but they rejected your application now? If that is the case, the secret might lie in your payment history. Even if you missed paying on time because you honestly forgot, missing the deadline still counts. While most companies won’t have a problem with this happening once or twice, a more extended history of late payments might cause rejection. The good news is that there is a way around this. Most insurance agencies will offer you to pay the complete premium right away so that they can provide car insurance.

Your Vehicle Is Unique in Some Way

The car you drive might be different than the majority of vehicles that the particular company insures. If that is the case, they might be having problems
calculating the premium
. That could end up with your application getting rejected. The two most common examples of unique cars include:

A high-performance premium vehicle – you might be a proud owner of a car worth over $400,000. However, providing
insurance
 for your vehicle and covering expensive repairs might not be something that every company can handle. That is why you need to find an agency ready to insure high-valued vehicles.

A classic car – these vehicles also have a high value, although their performance might vary. Either way, you need to find a company specializing in that type of vehicle. Not every insurance agency is willing to insure a classic car.

Poor Traffic Record

Insurance companies
 are ready to offer a no-claim bonus and other discounts to responsible drivers. However, if the driving history shows that they are dealing with an irresponsible user, they could reject their insurance application. Here is how a poor traffic record could lead to the insurance company refusing to insure your vehicle:

You caused multiple
road accidents
 – if you caused more than one major road accident, the insurance company will be very careful in choosing whether to accept the application. You can also expect higher premiums than usual.

Traffic violations – a single speeding ticket won’t be a problem, but ten of them could get you into trouble.

Other Serious Offences –
driving under the influence
 (alcohol, drugs, etc.) is a major traffic offense. If you caused this on one or multiple occasions, your application might get declined.

No Driving License

If you don’t have a
driver’s license
, it means you can’t drive any car. A more frequent case is users who have their driver’s licenses suspended. Most companies will consider these users a high risk, and some might even reject their
car insurance
 application
.

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Lies and Frauds

Another common reason for a
car insurance
 application
 rejection might be that you lied when applying for the policy. It could be a mistake, and you might have provided false information by accident. If that is the case, contact the
insurance
 company to sort everything out and get your policy. A more serious offense is committing
insurance
 frauds in the past. If the company finds that you tried to get away with fraud, they might reject your application.

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Insurance Premiums
Road Accident
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NCD (No Claim Discount) In Insurance

Have you ever pondered on what a
No Claim Discount (NCD)
 or a No Claim Bonus (NCB) is? Or the possibility of saving extra money on your car insurance if you didn’t make any claim for the whole year? Find out this and lots more in this article.

What is a No Claim Discount?

A
no claim discount
 is a decrease in the expense of your car insurance offered by your insurance firm if you didn’t claim the term of the vehicle insurance policy. It is a reward to you for the cautious utilization of your vehicle. So, let’s say you don’t make a claim on your car for a year or two or five, you’ll have the same amount of year(s) of
no claim discount
 applied to the underlying expense of your car insurance.

How do I build my NCD?

For each year you’re insured without
making a claim
, you’ll get another year’s
NCD
. You can gain a discount of up to 30 percent on a year’s
car insurance
 costs. Following five years this could be as much as 60 percent. A few insurance companies offer quickened policies where you can procure a reward in 10 months instead of 12. You can build up a vast number of
NCD
; the more you abandon making a claim, the more your discount will be.

If I make a claim, what happens?

On the off chance that you make a claim on your policy where your insurer pays out, and the accident was your doing, you’ll lose a few or the entirety of your discount. Be that as it may, if the accident isn’t your doing, your insurer might have the option to reclaim the payout from the other car’s insurer, and your
NCB
 may not be affected. In situations where fault can’t be agreed on, insurers may split the expense of the claims and the two drivers’
NCB
 could be affected. This incorporates if your
car is stolen
 or harmed by an awful climate.

If you pay for another policy with a reduced NCB and it was later discovered you are not at fault, you can generally get your NCB restored and a discount on the additional premium you paid.

What are the limitations?

Most insurance firms take the last five years of continuous driving in your name into account while assessing the discount estimation of your NCD. The discount applies to the only policyholders, and not other
named drivers on a car
. Your NCD must be utilized on one vehicle, so if you have two vehicles, you cannot get this discount on a second
insurance policy
 except if the NCD on the subsequent car has been earned in its own right independently.

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Insurance Claims
Insurance Policy
No Claim Bonus (NCB)
No Claim Discount (NCD)
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Auto Insurance Declaration Page

To be able to drive legally and freely in the country, you need a functioning auto insurance policy. That said, it is possible that once obtained, you might experience a bit of a challenge understanding and interpreting a lot of the “insurance language” you’re very likely to come across. While your first impulse might be to get in touch with your insurance company or an
insurance
 agent immediately, there is one alternative you can always try first. What many insured parties do not know is that quite a lot of information is easily accessible to them through their auto insurance
declaration page
. Consequently, when you have a good idea of where to find this page and what it entails precisely, you’ll discover that you’ll be able to get most of the information you need with relative ease.

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Meaning Of Auto Declaration Page

In simpler terms, an
auto declaration page
 is a document that comes with your auto insurance policy papers which contains relevant information of the policy package you took out. Usually, you can find quite a treasure trove of data here, ranging from:

Your coverage limits,

Policy restrictions, and even

The contact details of your insurance company or agent.

What to Expect in Your Auto Declarations Page

While you may observe minor variations in the format and structure of the
auto declaration page
, depending on what insurance company you’re dealing with, on the whole, this document usually contains the same information across the board. Some details you can expect to find on a typical
declaration page
 include:

Your Full Name And Full Data On Your Vehicle

One of the first things you’re likely to come across on your declaration page would be your full name, contact and personal information, particularly if the
insurance policy
 was taken out in your name. Some other information you’ll find on the document about you include,

The home or
business
 address the vehicle is registered to, and

Your contact details.

Information on your vehicle will also be present here. Some things you can expect to see are,

The plate number of your car,

Your vehicle identification number (VIN),

The make and specifications of your vehicle

Your Insurer’s Details

Also contained in here are your agents’ full name and contact information. This information will always be present on your declaration page, even if you bought your policy over the internet. Where applicable, it will also highlight the physical address of your insurer. Should you ever need to make any adjustments or changes to your policy, or if you want to
file a claim
 for payout, this is where you go to find out who to talk to for that to happen.

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Your Insurance Policy Details

Another important thing you will find here is the exact details and nature of the insurance policy you took out. It will give you a precise analysis of virtually everything that concerns your policy, ranging from:

The date the policy began,

The date it will lapse,

What losses you are insured against.

What coverage limits you have,

Your
deductible
,

The amount you’ll pay as premium, and

Any discounts you might have access to.

All in all, your declaration page can be a convenient document to have. Please note that in some extreme cases, the information in your declaration page may be wrong. Should you happen to discover any such discrepancies, don’t hesitate to bring this up with your insurer immediately and get it sorted out promptly.

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Declaration Page
Insurance Policy
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Benefits Of Buying Insurance Online

The digital age has simplified and made online shopping easier and faster. Insurance is no longer a process where an advisor will discuss your needs and suggest a plan even if you don’t completely understand it. Increasing financial literacy and access to technology have allowed anyone to
buy insurance online
, even those not financially savvy. Most insurance companies offer multiple plans online and a 24/7 helpline that helps choose the best plan without worrying about any drawbacks associated with traditional insurance purchases. If you are thinking about purchasing an insurance plan, you should consider an online purchase. Online
insurance
 purchases are convenient and cost-effective. The following are nine significant advantages of purchasing
insurance online:

Paperwork Is Minimal

Insurance policies purchased online require little paperwork. Many
auto insurance
 companies offer policies online with no paperwork required. First, fill out a proposal form, and upload any necessary documentation to the insurance company’s website. Due to this, online insurance is more convenient and protects the environment as you do not have to fill out numerous forms.

Insurance Agents Are Not Necessary

Insurance is available online without the involvement of an agent. When buying
insurance coverage
 online, you can effortlessly search the Internet for definitions of terms you don’t understand and easily purchase the coverage.

A More Economical Option

The cost of car insurance is lower when you purchase it online. The overall operational costs of insurance companies decrease when they operate online. Insurance
customers can buy their policy online
 without the involvement of an agent. As a result, it reduces the expenses associated with paying a commission to an agent. As a result of a reduction in the insurer’s operating costs, they can offer you car insurance at a much lower price.

It’s More Convenient

Purchasing
insurance online
 is more convenient than buying it offline. If you wish to buy a policy offline, you will need to meet with an insurance agent or visit a branch of an insurer. Alternatively, you can buy the best insurance in Malaysia online without even leaving your home.

Issuance of Policies Instantly

You receive your policy almost instantly if you buy an insurance policy online. You won’t have to wait days for your policy documents. Within minutes, your policy document is out from your
insurance provider
. On the other hand, if you purchase insurance offline, you may receive your policy document within a few days of applying.

Easy Online Comparison

A significant benefit of
buying insurance online
 is the ability to compare different insurance policies. Finding the best insurance in Malaysia can be pretty confusing as various policies are available in the market. When
buying insurance online
, you may compare coverage plans from different providers at comparison websites, such as www.fincrew.my. You can select your perfect insurance policy by comparing the various insurers’ policy coverage, features, and premiums.

Checking The Credibility Of The Insurer Is Easier

It is easier to determine an insurance company’s credibility on the Internet than off the Internet. It is wise to check the company’s website before buying an online insurance policy to determine how often it incurs
claims
, its handling process, and how quickly they settle. To better understand the company, you may also want to read reviews from previous or current clients. You are better off considering this information before deciding on an insurance company. It can be very time-consuming and challenging to locate all these details offline.

You Access Your Cover Notes Anytime

Your policy document is emailed to your registered email address when you purchase
insurance online
. Your email saves the copy of your car insurance policy document for future use. You may lose the paper policy document sent to you under an offline policy purchase. However, when you purchase online, a soft copy of the policy document will be waiting for you even if the hard copy of the record is lost.

Easy Endorsement Of Policies

It is easier to request an endorsement online than offline. Traditionally, you must submit details, endorsement forms, and other documents to your insurance company to get approval on your policy. The process is quite time-consuming and tedious. In the case of an online policy purchase, a self-declaration, along with proof, is a requirement for the changed details. The insurer will approve the endorsement.

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Auto Insurance
Buy Insurance Online
Online Insurance
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Malaysia Road Tax Guide

Have you renewed the
road tax
 for your vehicle yet? Renewal of your
road tax
 can be a challenge sometimes. However, do not worry since Fincrew is here to help you with a checklist to ensure a smooth road tax renewal process.

What Is Road Tax And Why Do You Have To Pay

Malaysians must pay road tax and
auto insurance
 before using their vehicles on public roads. Road tax increases with the size of a vehicle’s engine. The expenses associated with maintaining the country’s road network are covered by road tax. Keeping your road tax up to date will help you avoid paying any late fees. Do you know that you won’t have to pay any penalty for renewing your road tax in Malaysia less than a year of its expiration date? You will, however, incur a penalty fee if you continue your road tax more than one year after its expiration date.

What Is The Due Date For My Road Tax?

Generally, a vehicle’s road tax is valid for one year and renewed annually. The JPJ Portal makes it easy to check the date of your road tax due if you cannot remember when it is due. Once you are at the website, you need to follow the instructions below:

Look up Inquiry of Motor Vehicle
License Expiration
.

Choose your ID. Choose a category (e.g., MyKad).

Enter your Identification Number and Vehicle Registration Number.

Please click the submit button.

You can find details like the commencement and expiry dates of your road tax and the date of expiration of your insurance through the portal. As a result, you won’t forget to
renew your road tax
.

How Much Should I Pay For Road Tax?

There are a few factors that determine how much the road tax costs in Malaysia:

Vehicle Engine Cubic Capacity / Liter

The greater the engine size, the greater the amount. It is due to Malaysia’s outdated tax system. We assume that multiple engines/displacements emit more pollution in our current
road tax calculation
. Therefore, the owners of big cars have to pay a higher premium for their polluting vehicles.

Location

Malaysians living in East Malaysia (Sabah and Sarawak) pay a lower road tax than their counterparts in Peninsular Malaysia. The purpose is to compensate for the poor quality of the roads, which is not on par with Peninsular Malaysia. Because of Sabah and Sarawak’s poor road conditions and physical characteristics, residents prefer vehicles with more significant engine displacements to navigate the challenging terrain. The JPJ/Road Transport Department reduced road tax rates to compensate for poor road quality.

Type Of Use

Private or Company

Type Of Vehicle

Saloon: Sedan / Hatchback / Coupe / Wagon / Convertible

Non-Saloon: MPV / SUV / Pick-ups / Commercial

How To Renew Road Tax?

We have the same question when it comes to renewing our road tax. It is essential to follow these steps to obtain the best results.

1. Confirm The Expiration Date Of The Insurance And The Road Tax

Be sure you know your road tax expiration date before renewing your road tax. It is essential to get the exact date to avoid unforeseen complications during the renewal process.

2. Bring Your Vehicle Grant Along With You

Vehicle grants or registration certificates contain a wealth of information about a vehicle, including the model year, production year,
engine cubic capacity
, etc.

3. Make Sure There Are No Summonses On Your Vehicle

The first thing you need to do is settle any warrant backlog. It occurs because you cannot
renew your road tax
 if there are any pending summons.

4. Find Out The Worth Of Your Car On The Market

To obtain adequate
insurance coverage
, you should check the current market value of your vehicle.

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JPJ
Malaysia Road Tax
Road Tax
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Legal Liabilities To Passengers (LLTP) Insurance Coverage

Driving anywhere in the world (and in Malaysia particularly) comes with its fair share of responsibility. Knowing what these duties are and what is expected of you can help you properly prepare for what’s ahead. Being an active or even passive driver in the country, you probably already know how crucial basic vehicle
insurance
 coverage is and why you need it. Moving further, however, there are some other essential facets of auto insurance coverage you may not be as familiar with. One of these is
Legal Liabilities to Passengers

LLTP
 or LLNP for short.

What Are Legal Liabilities To Passengers?

In very elementary terms,
Legal Liabilities To Passengers
 or
LLTP
 can be defined as a sort of special coverage you can take on in addition to your typical
auto insurance
 coverage. The purpose of this particular addition is to protect you in the event of legal liabilities raised by your passengers should you be involved in an accident that resulted from your actions. While this scenario might seem a bit extreme, it happens more often than you might think. Consequently, it is always ideal for making provisions for this.

Why You Need To Get Legal Liabilities To Passengers (LLTP)

On the surface, taking on the extra coverage that Legal Liabilities To Passengers offers might seem unnecessary. After all, if you’re a driver who already has comprehensive
insurance coverage
, you’re likely already protected for it, right? Wrong!

While a
comprehensive policy
 certainly covers a lot of scenarios, it doesn’t extend to protecting you from legal liabilities suffered from your own passengers. Your policy states this fact succinctly in section B of your
auto insurance
 coverage document. In other words, assuming you had friends or acquaintances in your vehicle and got involved in an accident through your own fault, should the victims sue you and you don’t have Legal Liabilities To Passengers coverage, that
expense
 will have to be covered out of your own pocket. Do you see why getting Legal Liabilities To Passengers mightn’t really overkill now? Wait, there’s more!

Are Legal Liabilities To Passengers Policy Coverage Compulsory?

The answer to this question depends on where you plan to drive. While countries like Singapore demand that you take that additional coverage before you can drive around uninhibited, Malaysia allows drivers to ply the roads freely without Legal Liabilities To Passengers. However, looking beyond the legal aspects of whether you must have Legal Liabilities To Passengers or LLTP as a driver or not, there are certain variables that need to be put into consideration. For instance, even though you won’t be getting any monetary reward or compensation for transporting friends and colleagues from one place to another, it is still your legal responsibility to ensure that they are safe from the moment you pick them up to when you drop them off. So by extension, if something were to happen to them during the period that they were in your care, they gain the right to sue you to court, particularly when they feel that the accident was your fault. From this perspective, getting LLTP almost becomes a necessity.

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Key Takeaway

No one would ever wish to find themselves in any of the unpleasant scenarios described above. Be that as it may, it always pays to be at the ready and prepare for every eventuality. Generally speaking, LLTP/Legal Liabilities To Passengers usually costs no more than 25% of what you pay as premium for your basic Third-Party
Insurance policy
. So get in touch with your insurer and check out their LLTP/Legal Liabilities To Passengers policy today!

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Legal Liabilities To Passengers
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Unlimited Coverage With Car Insurance

People often ask this question a lot- Is there any
car insurance
 with
unlimited coverage
? This is a good question, and I will help answer it and explain the different
car insurance
 packages you can go for. Every vehicle owner is required to purchase automobile insurance before the vehicle can be put on the road. Though there are certain circumstances when an
insurance company can refuse to insure you because of several reasons
.

Does Auto Insurance Come With Unlimited Coverage?

The simple answer is NO. Let me explain why–

Most
insurance
 companies will not offer unlimited auto car insurance because they might not be able to fulfill it. Sounds ridiculous right, OK let’s think about this scenario. Imagine that the Military is transporting some thermonuclear warheads on a truck to bring them to a service point in a city. Now a driver that supposedly has “unlimited”
auto insurance
 happens to be at the wrong place at the wrong moment and crashes the car against the truck carrying the thermonuclear warheads.

They fall off and explode. A whole city was destroyed. How serious do you think is the damage? Five, ten, twenty trillion dollars? Do you think there is an insurance company on earth that can balance a five, ten, twenty trillion dollar check? Maybe not. This is because the word “unlimited” stands for “without limits,” so irrespective of the damage caused, the company will be ready to cater to it. As such, insurance companies will not offer such coverage because they do not have unlimited funds. This might even be regarded as against the rules of fair competition and probably illegal. Of course,
insurance companies
 can offer remarkably high coverage and different packages, but
unlimited coverage
 might not seem right.

Which Auto Insurance Package can I go for?

Basically, in Malaysia, there are three types of auto
insurance packages
 available-

Third-party coverage,

Third-party fire, and
theft
 coverage,

Comprehensive
 coverage.

Third-Party Coverage

A Third Party Cover is the least expensive among the three offered
car
insurance
 packages. It’s the most basic and insures you against any injuries or deaths caused to the third party (basically that’s everyone else aside from you and your insurance company) and loss or damage to the third party property caused by your vehicle. You should note that this policy doesn’t cover you for any damages to yourself or your car.

Third-Party, Fire and Theft Coverage

A Third-Party, Fire, and Theft policy is pricier than a Third Party Cover but cheaper than a Comprehensive Cover. Third-party
fire and theft
 cover work just like a third-party cover. This policy protects you against
claims
 by a third party, be it bodily injuries or death, but with the added coverage of damages from your vehicle’s fire and theft. It allows you to file for a
claim if your car suffers fire damage or gets stolen
.

Comprehensive Coverage

The third package, Comprehensive
Car Insurance
, covers a broader range of protection. With a Comprehensive Cover, you get the same coverage as in a
Third Party
, Fire, and Theft policy, but it also covers damages done to your car. You should note that Comprehensive Cover is not for everyone, as this policy is only available to vehicles that have not exceeded a certain age.

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Comprehensive Coverage
Fire and Theft Cover
Third-Party Coverage
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What Is a Secured Loan?

A
secured loan
 is by collateral. Several options are available, and many pose a lower risk to lenders than
unsecured loans
, so they are easier to qualify. Nevertheless, secured loans are not without risk. For example, if you cannot repay what you borrow, it could hurt your credit rating.

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What Are Secured Loans?

These are
loans
 which require collateral as a condition of borrowing. Banks can request collateral if the funds are for buying a specific asset or if your
credit score isn’t good enough for an unsecured loan
. A
secured loan
 may offer borrowers lower interest rates because it is a less risky investment for lenders. However, the interest rates on fast loans can be higher, including loans provided to people with bad credit and short-term instalment loans.

Understanding Secured Loans

Whether a
loan is for personal use
 or
business
 use, it can be secured or unsecured.
Unsecured loans
 do not require collateral. Instead, the lender considers your credit score and
financial
 history before approving your loan. In contrast, secured loans require collateral. Moreover, a secured loan’s collateral can sometimes be an asset to the applied money. For example, if you’re purchasing a home, the house serves as a guarantee for the loan. The same goes for a car loan. A secured loan works on a simple principle. To encourage borrowers to repay their loans on schedule, lenders accept collateral against secured loans. But, ultimately, the threat of losing your house or car due to not paying back the loan is one of the most potent motivators.

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Whenever you apply for a secured loan, the lender will ask what kind of collateral you will provide as security for the loan. If you find it hard to repay the loan, the lender may place a lien on the collateral. When the lender does not receive full payment, the lien remains active. Upon lifting the lien, the borrower regains ownership of the collateral. The lender can sell secured loan collateral if the borrower defaults. It covers any losses incurred by the lender. Because of this, fast loan borrowers should know what assets to consider to be collateral and weigh the value of those assets against a possible lien or collateral loss if the loan defaults.

Types Of Secured Loans

A secured loan can take many forms, but the three most common types of fast loans are financial consumer loans, requiring appropriate collateral before approval.

Mortgage Loans
: The most common secured loan is the mortgage loan. The lender considers such loans “secured” because the borrower pledges their house as collateral. The borrower may lose the home if they do not pay back the secured loan. In this case, the house goes into foreclosure, and the borrower fails the home.

Vehicle Loans
: As the vehicles are used as collateral to secure the loan, secured loans include auto loans,
auto service loan
, boat loans, motorcycle loans, and even private aeroplane loans. A lender may repossess your car if you fail to repay the secured loan, just like you would with a mortgage.

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Secured Credit Cards
: These are an excellent option for consumers with no credit history who want to build their
credit scores
. In contrast to a mortgage or loan with collateral, secured
credit cards
 usually require a cash deposit. Card users who fail to pay their monthly bills may have the cash deposit withdrawn from their accounts and applied to the invoice.

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Getting a Secured Loan

Secured loans are available through banks, credit unions, or online lenders. However, it is essential to remember a few things when comparing secured loans. These include:

What kind of collateral is needed to ensure the loan

Annual Percentage Rate for the loan and interest rate

Whether interest rates on loans are fixed or variable

Fees charged by the lender, for example, origination fees or prepayment penalties

Loan amounts: maximums and minimums

Income and credit requirements for the loan

Final Thought

It’s wise to compare loan rates with different lenders to get an idea of what a secured loan will cost. In addition, you can reach them using an online platform like FinCrew to estimate the amount of interest paid and the monthly payments. If you consider a secured
business loan
, check the personal guarantee requirements. You don’t want to be surprised by this practice, even though it’s familiar with secured and unsecured
business loans
. Alternatively, you may ask your credit card company if you can have your secured credit card converted to an unsecured card later on and have your security deposit refunded to you if you have a secured credit card.

Tags:
Annual Percentage Rate
Mortgage Loans
Secured Credit Cards
Secured Loan
Unsecured Loans
Vehicle Loans
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Steps To Take When Your Car Gets Stolen

Whether you bought a new vehicle recently or have been driving it for years, it is a valuable asset. You take good care of it, but you also need to consider protecting it against theft. The statistics indicate that the number of vehicle thefts has been increasing since 2001. What would happen if your
car gets stolen
? If that happens, you must remain calm. Here is a detailed guide on how to act in these situations!

Make Sure It Is Actually Stolen

You might think this sounds redundant, but confirmation is necessary. First, make sure that is where you last parked your car. Next, check if your family members or roommates took the vehicle. Once you are sure that your vehicle was stolen, call the police right away. Try to give as many details as possible, including:

When did you notice the car went missing?

How much time was it parked there?

Did you leave any valuable belongings in the vehicle?

You can ask around for potential witnesses, but the police will check on CCTV cameras if there are any.

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Can I File a Claim with My Insurance Company?

Car insurance
 companies provide theft protection as part of their policies. However, please note that it is a part of a comprehensive plan that involves third-party theft and fire cover. That means
theft
 protection needs to be a part of your policy to qualify for claiming. Another thing to consider is that the
insurance company
 will analyze the details of the theft. They might check the police report and also ask you about the details. Your claim will be denied if you willingly gave the keys to someone. That could be your friend who betrayed you and took the vehicle or a valet you trusted to wash your car. Either way, it counts as the owner’s negligence, and the
insurance company has grounds to deny the claim
.

How Much Money Will You Receive?

After
approving your claim
, the insurance company will determine two details:

Sum Insured
 – that is the maximum compensation sum specified in the
insurance deal
.

Vehicle’s market value
 – the car’s value estimation at the time you lost it. It is determined by assessing the values of vehicles of the same age, model, and make. The assessment won’t include additional accessories you installed on the car, such as an entertainment center or an audio system.

Please note that the insurance agency will pay the lower of these two sums. That is why you should avoid under-insuring your car, especially if you live in a city with a high theft risk. The company will offer a settlement sum, and you can choose whether to accept it. You have the right to file an appeal. The most common reason for appealing is that the company didn’t appraise the market value realistically. When you send an appeal and include ads, newspaper clippings, and any other details that could help prove that they are wrong.

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What If the Car Gets Recovered?

The
theft claim
 process could last up to six months (that is the insurance agency’s deadline to send a settlement offer). During that time, the police might recover your car. If that happens, you can withdraw the
theft claim
. For cars that suffered damage due to the theft, you have the right to pursue a damage claim.

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Insurance Claims
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Why Do Insurers Have Exclusions?

Risk mitigation is at the heart of
insurance coverage
. Individuals and small businesses can use insurance as a means of protecting themselves against
financial
 loss, but insurance companies have interests of their own to protect. Typically, insurance policies will include
exclusions
 based on this so that they don’t cover every scenario. They are interested in insurance exclusions, and why do insurance companies exclude
exclusions
 from their policies? Here’s the answer.

What Are Insurance Exclusions?

A policy exclusion provides a way for an insurer not to cover certain risks, such as an unexpected loss. It is a way to restrict the scope of coverage for risks they are unwilling to protect. As a result, policy exclusions contribute to the overall definition of the policy. What is the reason? Ultimately, it would help if you kept in mind that an insurance company is a business. Events are covered; many insurers would be discouraged from entering the market or remaining excluded. So, what are the reasons for exclusions?

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Reasons For Insurance Exclusion

Use exclusions for various reasons in insurance policies, but most relate to the risks listed below.

A Cataclysmic Event

Catastrophic events make certain risks uninsurable. War is an example. Your commercial property
insurance coverage
 does not cover a bomb destroying your business property in a war situation. Military action and war are almost universally not included in property insurance policies.

If Previously Covered By Another Policy

In many cases, the exclusions are risks covered by one policy from another. For example, a general liability policy excludes
auto liability
 claims from coverage since a
commercial auto policy
 covers them. Workers’ compensation insurance covers any benefits an employer must pay under workers’ compensation laws. Liability and auto policies exclude benefits payable under workers’ compensation laws.

Maintenance Of a Car Or Property

Wear and tear, for example, are excluded because they are natural occurrences and controlled by the policyholder. Both physical damage coverages for commercial properties and autos exclude wear and tear-related damages. Also, prevent rust, corrosion, and insect infestations risks through regular maintenance.

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Deliberate Actions

Businesses and people purchase insurance to protect themselves from misfortune, accidents, and other unforeseen circumstances. In such cases, most policies won’t cover the losses if the insured deliberately causes the damage. For example, suppose a driver experiences road rage and deliberately drives into another vehicle. In that case, their
auto insurance
 policy probably will not cover the damage to the insured’s car, even if it has comprehensive coverage. In another example, if a contractor deliberately damaged a client’s property to evade payment, the provider wouldn’t cover the impact.

Illegal Actions

Many policies do not cover crimes, law violations, and deliberately caused injuries against public policy. Due to this, liability policies do not cover claims arising from the insured’s deliberate, harmful acts such as firing a gun. As the first
step in evaluating an insurance claim
 (under any policy), an insurance company determines if the event caused the loss is fair to count as an “occurrence.” A claim will not be counted as an occurrence most of the time if a crime is underlying it.

Exceptions To Exclusions And Buybacks

In many exclusions, there is a limit of coverage given back. An example of this exclusion is the contractual liability exclusion in a general liability policy, which exempts the company from liability under a contract. In some instances, there is an exclusion, which requires coverage for liabilities assumed under an
insured contract
 (as described in the policy). You can remove a few exclusions if you are willing to pay an additional premium. For example, the standard general liability policy excludes injuries caused by employees against each other. In many cases,
businesses
 purchase coverage for co-worker claims.

Tags:
Exclusions
Insurance Coverage
Insurance Exclusions
Legal Liability
Liability Cover
Occurrence
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Using a Personal Loan To Pay Off Credit Card Debts

Many people use personal loans for different reasons – whether to pay off medical bills or buy an RV – but consolidating credit card debt may be the most common. You can eliminate the need to make multiple monthly payments on high-interest credit cards by obtaining a personal loan to settle your debt-often at lower interest rates.

Can Personal Loan Can Help You Pay Off Credit Card Debt?

Paying your credit card debt using a
personal loan
 is a form of debt consolidation, and it has several benefits. The following are three reasons to take out a
personal loan
 to pay off your credit card debt:

You Can Pay Off All Your Credit Card Debt

You can eliminate credit card debt with a personal loan if you have high credit card balances. You will gain
peace of mind
 by paying off your credit card debt and improved credit score. It is important to remember that repaying your debt with a personal loan is not the same as becoming debt-free. Your
loan
 still needs to be paid off after you repay your credit cards. Paying off your high-interest
credit card
 balances, and saying goodbye to the fees that come with it, can feel like a huge relief and is one of the most significant advantages of paying off the debt with a personal loan.

Your Interest Rate Will Probably Be Lower

The average credit card APR is around 16 per cent in the current market. However, many of the best personal loan rates hover at about 6 per cent. Although your actual interest rate depends on factors such as your
credit score
, the amount you wish to borrow, and the terms of your loan, there is a good chance that you will pay less for a personal loan than you would for a credit card. Using your loan to pay off your credit card debt could save a lot of money in interest charges by taking out a loan with a lower interest rate than you’re paying on your credit cards.

You Will Only Have One Payment Per Month

It can be challenging to balance multiple credit card payments each month. Consolidating your debt with a personal loan makes it easier to pay one monthly bill. If you do this, you will be able to
plan for your monthly loan payment
, which will expedite your repayment process.

Don’t forget: The more money you put toward your loan payments per month, the more you’ll save in interest fees over time.

Final Thought

Paying off your
credit card debt
 through a personal loan can help you regain control of your finances. Nevertheless, personal loans aren’t the only option for people seeking to repay
credit card debt
. Another good way to consolidate credit card debt is to use a balance transfer credit card. Weigh all options before applying for a loan. You should ensure the personal loan you are considering has lower interest rates than your credit cards, and you should consider a plan for paying off your loan without increasing your credit card debt.

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Balance Transfer
Credit Card Debts
Credit Cards
Personal Loan
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Car Insurance Discounts

A big part of driving safe and being financially prudent is operating a
car insurance
 policy. Taking out an automobile insurance policy means that you never have to worry about paying out-of-pocket when your car breaks down or suffers a fire accident.
Car insurance
 policies also protect you even to the point of covering your costs if your vehicle gets stolen or damaged beyond repair. No doubt, there are several unique benefits to
having the right car insurance
. However, one major discouraging factor with
insurance
 is the cost. Taking out insurance policies on your vehicle or vehicles can be a bit cost-prohibitive. Luckily, there are several discount policies you can leverage to reduce some expenses that come with taking insurance.

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Some Car Insurance Discounts Available Include

Discount For Taking Defensive Driving Lessons

It may surprise you to know that many
insurance companies
 offer up to 15% discount if you possess a defensive driving lesson certificate from a registered driving school. This certificate entitles you to discounts in several areas such as:

Personal injury

Collision

Liability

Discount for Accident-free Driving Record

Many insurance companies offer different levels of discounts for good drivers. Usually, this particular discount is automatically applied and factored into the
insurance policy
 as you take it out. However, in some instances, you may not automatically qualify for this policy, but given time, you may be able to access it when next you renew your policy. Keep in mind that the standards for qualifying for this discount will differ between
insurance policy
 providers.

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Discount For Low Mileage And Vehicle Usage

One of the main factors that determine how expensive an insurance policy gets is the level of a perceived risk that the insurance company associates with it. If your
insurer estimates that extending your coverage
 is a high risk, your premium will reflect this. The less mileage and use you make of your car regularly, the less risk you are at. Insurance companies acknowledge this fact and as such offer discounts for drivers with low mileage.

Multiple Vehicles Insurance Discount

If you have more than one automobile you would like to take out insurance on; you could be entitled to a discount feature as high as 25%. This discount is spread across the multiple vehicles that you’ll be insureing and can go a long way in helping you save some significant costs. Ideally, many insurance companies demand that the vehicles being insured are owned by people with direct ties such as marriage or blood. However, you can readily find insurers who will offer you coverage, regardless of the absence of these specific relationship ties.

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Discount For Customer Loyalty

Yet another discount you can look forward to is the customer loyalty discount. The insurance world is a very competitive space. As such, insurers will do all that they can, within reason to keep existing customers. This discount is one of the ways that they appreciate their customers, as well as encourage them to continue doing
business
 with the company. There are so many discount policies you can take advantage of to reduce what you pay for your insurance. To find the time to look through the available options to find the ones you’re entitled to and can readily access.

Tags:
Car Insurance
Car Insurance Discounts
Multiple Vehicles Insurance Discount
No Claim Discount (NCD)
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Can I Buy Insurance Before Purchasing a Car?

Usually, people who concern themselves with auto
insurance
 issues are individuals who own a vehicle. It leads us to ask questions like;

Can people who do not own automobiles secure car insurance?

Is it legal?

What do you have to do to get
car insurance
 successfully without owning a vehicle?

If you do not have a car and you are looking to get
insurance
, then you are in luck! There are easy ways for you to
buy auto insurance
 without having a vehicle. But, you need to make sure you put a lot of things in place to ensure that. Getting insurance without a car is not only possible; it is easier than a lot of people know. The secret to it is ensuring that you go in fully prepared and armed with specific, helpful information. To start with, when planning to secure auto insurance before buying a car, the very first thing you need to do is.

Confirm The Specific Vehicle You Plan On Purchasing

As you probably know, the make, model, and specifications of a vehicle significantly factor into its
auto insurance
. Due to this, you have to be very careful and make sure that you confirm the car’s details thoroughly. Failure to do this might result in your having to pay some hefty cancellation fees if you don’t end up purchasing the vehicle for any reason. So, to get started,

Choose The Vehicle You Want To Purchase

It would help if you were as detailed as possible about the car you want to buy when taking out your policy. To that end, the more specific you are, the better.

Prepare An Agreement To Purchase The Vehicle

At this point, what you need to do is make sure you seal the deal as tightly as possible. You need to make sure you iron out details like price, liens, and vehicle history.

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Use The Vehicle Data To Buy the Insurance

Next, you’ll also need to get important information like the Vehicle Identification Number handy when getting that
auto insurance policy
. After this, the one last thing to do is find an
auto insurance provider
 with a policy that works for you and sign up with the details you’ve acquired! And that’s all you need to know about getting coverage before buying that car!

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Auto Insurance
Car Insurance
insurance
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Jenis-jenis Pelindungan Insurans Kenderaan

Polisi
insurans kenderaan
 akan melindungi pemilik kenderaan daripada liabiliti kewangan sekiranya berlaku kemalangan jalan raya dan juga musibah lain seperti kecurian dan juga kebakaran. Sesuatu
pelindungan insurans
 itu akan bergantung kepada polisi yang anda pilih. Terdapat tiga jenis pelindungan asas bagi
insurans kenderaan
. Mari kita lihat apa yang mereka tawarkan dan pelan mana yang paling sesuai mengikut keperluan anda.

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Insurans Kenderaan Pihak Ketiga

Polisi motor
 pihak ketiga merupakan pilihan pertama yang tersedia untuk sesiapa yang ingin menginsuranskan kenderaan mereka. Seperti namanya, pelan ini akan melindungi anda sekiranya berlaku kerosakan harta benda dan juga kecederaan kepada pihak ketiga. Jika anda
terlibat dalam kemalangan jalan raya
, polisi ini akan memberikan
pelindungan kewangan
 untuk sebarang kecederaan atau kerosakan yang dialami oleh pihak ketiga. Walaupun ini merupakan polisi yang paling murah, perlu diingatkan ianya hanya akan memberikan pelindungan yang penting sahaja. Kenapa anda perlu memilih pelan ini: Polisi motor pihak ketiga merupakan satu idea yang paling baik untuk pemandu yang tidak menghabiskan banyak masa memandu kenderaan mereka.

Insurans Kenderaan Pihak Ketiga, Kecurian Dan Kebakaran

Polisi insurans jenis ini agak rumit sedikit kerana ia memberi pelindungan bagi pelbagai kemungkinan. Berikut merupakan cara pelan insurans ini akan melindungi anda:

Kerosakan harta benda dan kecederaan pihak ketiga – Jika anda terlibat dalam kemalangan, sebarang liabiliti untuk pihak ketiga yang terlibat akan dilindungi oleh pelan ini.

Kebakaran – Jika berlaku kebakaran yang bukan disebabkan oleh anda, di mana kereta anda mengalami kerosakan, polisi ini akan melindungi anda.

Kecurian – Kecurian kenderaan merupakan satu perkara biasa, jadi polisi ini akan memberikan ketenangan fikiran. Ia menawarkan pelindungan kewangan sekiranya kenderaan anda dicuri.

Walaupun tidak begitu menyeluruh, pelan ini menawarkan pelindungan yang lebih baik berbanding dengan polisi asas insurans pihak ketiga. Kenapa anda perlu memilih pelan ini: Ini merupakan pilihan terbaik untuk mereka yang mahukan pelindungan daripada kecurian dan kebakaran, tetapi tidak mahu pelan yang paling mahal.

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Insurans Kenderaan Komprehensif

Seperti juga namanya, pelan komprehensif ini menawarkan pelindungan secara menyeluruh kepada pemilik kenderaan. Jika anda memilih pelan ini, ia merangkumi kedua-dua pihak iaitu pihak ketiga dan juga kenderaan anda yang terlibat dalam kemalangan tersebut. Anda juga boleh memohon pampasan untuk masa di mana anda tidak menggunakan kenderaan anda itu.
Polisi insurans motor
 komprehensif ini juga turut menawarkan
pelindungan kewangan
 untuk kes kecurian dan kebakaran. Syaratnya, kebakaran tersebut adalah akibat kemalangan dan anda tidak dipertanggungjawabkan atas kecurian yang berlaku itu. Kenapa anda perlu memilih pelan ini: Ia menawarkan pelindungan menyeluruh, menjadikan ianya sesuai untuk pemandu yang memandu kereta mereka setiap hari.

Manakah Insurans Kenderaan Yang Terbaik Untuk Anda?

Walaupun segalanya bergantung kepada keputusan anda,
insurans kenderaan
 komprehensif akan menawarkan pelindungan yang lebih menyeluruh. Anda juga boleh menyesuaikan polisi anda dengan mengambil pelindungan tambahan. Ini termasuklah premium berikut:

Kemalangan diri – Ia akan memberikan pelindungan kecederaan kepada anda atau penumpang.

Pampasan untuk tempoh pembaikan yang dianggarkan – Jika anda tidak menggunakan untuk suatu tempoh tertentu, anda mungkin berhak untuk mendapatkan pampasan.

Cermin depan – Cermin hadapan anda mungkin pecah tanpa sebab yang jelas. Jika ini berlaku bukan disebabkan oleh kemalangan jalan raya, tambahan ini akan memberikan pelindungan kewangan.

Liabiliti penumpang di sisi perundangan – Pihak ketiga mungkin akan
membuat tuntutan
 terhadap anda kerana kecederaan yang disebabkan oleh penumpang di dalam kenderaan anda. Sebagai alternatif, penumpang anda mungkin akan menuntut anda atas kerosakan yang mereka alami dalam kemalangan tersebut. Anda akan mendapat pelindungan kewangan sekiranya ini berlaku.

Banjir – Jika kenderaan anda mengalami kerosakan akibat banjir, anda akan menikmati pelindungan kewangan.

Tags:
Insurans Kenderaan
Insurans Kenderaan Komprehensif
Insurans Kenderaan Pihak Ketiga
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Prevent Rejection Of Car Insurance Claim

When your car insurance policy gets rejected, you lose all the perks of the policy. It can be frustrating, disappointing, and can affect your bank balance.
Insurance
 is a kind of risk management that offers select promises based on specific terms of the contract. It is usual for you to feel offended if your insurer does not live up to the pledge of claim settlement. However, you should know that many times insurance companies do have genuine reasons for
rejecting a claim
. It is your responsibility to ensure specific precautionary steps are done to get the appropriate incentives from your insurer without any hassle. Here are a few points to help you prevent the rejection of your
car insurance claim
.

Prevent Consequential Loss

Consequential loss arises when you try to run the
car after an accident
, thereby aggravating the vehicle’s damages. It is the most significant error you might be making because it is a consequential loss. So, for instance, if your car crashes into flooded water, and you try to start the engine, this will only worsen the situation. If water gets into the engine or fuel system, it’ll damage every single component inside the car, and it can cause a ‘hydro lock.’ In this case, your insurer will pay only to cover the initial damage caused by the water and not the hydro lock damage. This damage will be classified as consequential damage; your insurer will not cover its costs and reject the claim.

Report A Claim At The Earliest Time

There is a deadline before which you can
make a claim
. Insurers follow a stringent process if a customer wants to
file for an insurance claim
, as it needs to be done as swiftly as possible. If you delay more than the predefined time to
make a claim
, there are chances your insurer may not consider your application.

Inform Your Insurer About All Upgrades

One of the reasons
car insurance claim
 get rejected is that the insurance company is not aware of the car’s upgrades. Remember when you took the policy, you gave your insurance company the car’s specifications, and your policy cover is based on these specifications. But after some time, you got an upgrade. Let’s say you installed a CNG kit in your car. Your insurer may reject your claim if the fuel type on your car insurance policy does not match your car’s actual fuel type. So it would be best if you informed your insurer about all kinds of upgrades done on the vehicle.

Don’t Break The Law

Your insurance company will honor your claim only when accidental damage has occurred. When you violate the law, it becomes almost impossible for your insurer to follow through because your intentions are not in the best interest of you or those around you. As a result, your claim will be rejected.

Inform Before Repair

Don’t send your vehicle for repairs without informing your insurance company to get approval. Your claim might be rejected if you do this because your car will be inspected to know the magnitude of damage it has suffered after an accident. Your
insurance company
 will give an estimated quote of the expenses related to fixing this damage. Your claim may be rejected if you repair your car without cross-examination by your insurer.

Tags:
CNG Kit
Hydro Lock
Insurance Claims
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Learn How Insurance Companies Handle Hit And Run

It’s not pleasant to find yourself in any car accident. However, most vehicle owners agree that the worst incidents are those where the party responsible flees from the scene. Unfortunately, that happens, and it’s vital to understand your rights in those situations. Here is how
insurance
 companies deal with hit and run cases and what steps to take!

Hit And Run – Basic Overview

The first thing that comes to mind when you encounter a
hit and run
 is when a driver hits you from behind with their vehicle and then drives away. That’s an example of the classic
hit and run
. However, this accident category refers to ALL incidents where the party who caused them flees the scene without identifying themselves. You don’t even need to be in the car. Perhaps, you parked the car, and someone hit you while you were at another location. The reason why perpetrators resort to escaping might be only that they panicked. However, it might be that they don’t have valid documents, or they have a record of past crimes and don’t want the police to track them. Finally, it could be that they want to avoid paying for the damage.

What Should You Do If You’re A Hit And Run Victim?

The first thing is not to panic and confirm there is no one injured in the accident. If an opportunity arises, try to check out the perpetrator or their vehicle. You might remember the license plates or at least a car model or color. Any detail might help in the investigation later, which is why you can also talk to other people at the scene. Did anyone notice what happened and can confirm your story? Perhaps someone saw and remembered the license plates or further details of the perpetrator? It might happen that you weren’t in the vehicle when they hit you. In those situations, the person might leave their phone number for you to call. That’s reasonable, especially if the damage isn’t significant. They might be in a rush, and they do not deny the responsibility. So, give them a call, and you could resolve the matter quickly.

What to Do When There Are No Details Of The Perpetrator?

Unfortunately, some hit and run accidents occur without anyone noticing them. If that happens, you have the choice to file for a
No Fault Claim
 with your insurance company. Please note that this is a subcategory of
Own Damage Claims
, but it’s specific because it doesn’t take away your
No Claim Discount
. Meantime, take photos of the car to focus on the damaged sections. Are there any dents or scratches? Make sure to document everything, and don’t forget to look for potential witnesses.

The next step is to file a police report, and you should do that immediately. The deadline is 24 hours, but you don’t want to risk the other party going there first and making up a different story. If you have any details, you can provide them to the police. That will make it easier for them to find a potential perpetrator. Next, contact your
insurance company
. You want to file the
No Fault Claim
 as soon as possible. The police report will serve as evidence, and you’ll also need a Claim Application and some other documents. The
insurance
 agents will let you know the details, so you can file the claim correctly. From there, you’ll probably need to wait for the results of the police investigation, which means you’ll need the patience to resolve the matter.

Tags:
Hit And Run
No Claim Discount
No Fault Claim
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Actual Cash Value In Business Insurance

Essentially,
actual cash value
 (ACV) is how much your stolen or damaged property is worth after a covered loss is over. It is imperative to understand real cash value so that
business insurance
 companies can determine how much should be paid by a policyholder after a covered loss. It will cover your home’s structure, typically at replacement cost if your dwelling insurance policy limits are met, but your other possessions aren’t the only ones to insure. Many policyholders choose to opt for the replacement cost feature instead. Our goal in this article is to explain
actual cash value
, how it’s calculated, and how it differs from replacement cost.

What Is An Actual Cash Value?

The actual cash value represents the amount needed to replace a property once depreciation is taken into account. Typically, it is similar to what you would receive if you sold the property before damage or loss. Imagine, for example, that you bought a new laptop for your web development business for RM3,000 and used it for two years before it was damaged. The cash value of replacing the computer would likely be significantly less than what you originally paid. When deciding how much to reimburse you based on an actual cash value commercial property insurance policy, your insurance company will consider the expected service life of the laptop and how long you used it.

How Do Insurers Determine The Actual Cash Value Of A Policy?

The actual cash value is determined by determining the replacement cost of an item and removing depreciation. Insurance companies assign an object a lifetime to calculate depreciation and determine what percentage of that lifetime is left. The replacement cost is multiplied by the rate to get the item’s actual cash value. As soon as you
file a claim
, an insurance adjuster will get involved to determine how much it will cost to pay your claim. When you opt to value your covered items at their actual cash value, your insurer will estimate the cost of replacing your lost or damaged item with a similar thing and then subtract the reduction in value due to depreciation. Imagine your two-year-old laptop is stolen, and you have a policy based on actual cash value. Two years ago, a similar laptop cost RM2,000, but today it costs RM2,500. According to your
insurance provider
, a computer has a useful life of five years, so the stolen laptop has 60% remaining of its useful life. The cash value is calculated by multiplying the replacement cost by 60%. It amounts to $1,500 as the actual cash value of the laptop.

Comparison Of Actual Cash Value And Replacement Cost

If you are looking for commercial business insurance, you should weigh the pros and cons of actual cash value versus replacement cost. Depreciation is taken into account in the actual cash value. The replacement cost is determined by how much it would cost to replace the property without accounting for depreciation. For instance, a digital marketing agency might purchase its office furniture in 2020 for RM3,000, but today’s value of a similar setup is RM4,000, so replacement value
insurance
 would be worth RM4,000. In contrast, the actual cash value of the insured property is different in that it includes the expected service life of the property. If the furniture purchased for RM3,000 has a service life of 10 years, its value after depreciation will be RM1,500 five years after being purchased (50% of the purchase price).

Final Thought

The purpose of actual cash value insurance is to provide a fair value valuation by accounting for the initial cost and depreciation. Having real
cash value insurance
 has a downside in that it doesn’t cover as much as replacement cost insurance should you need to replace something. Generally, buying actual
cash value insurance
 is advisable if you have a restricted budget. If you have a larger budget, replacement cost insurance is most recommended.

Tags:
Actual Cash Value (ACV)
Business Insurance
Commercial Business Insurance
Depreciation Value
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Adakah Berkahwin Akan Mengurangkan Kos Insurans Auto Anda?

Setiap pemilik kenderaan sentiasa akan mencari jalan untuk mempengaruhi apa yang mereka bayar untuk insurans. Sekiranya berpeluang, ramai pemandu mahu berpindah ke kawasan yang lebih selamat dan cuba untuk memandu jarak yang lebih pendek. Lokasi serta jarak pemanduan merupakan dua faktor yang memang diketahui akan mempengaruhi premium
insurans kenderaan
 anda. Tapi, adakah status perkahwinan anda juga mempengaruhi pelindungan anda? Jika ya, bagaimana dan kenapa perincian seperti ini relevan?

Hai, dan selamat datang ke episod hari ini dari Siri Video Insurans360! Saya duta jenama Fincrew Yuna, dan pada rancangan hari ini, anda akan mengetahui bagaimana
pelindungan insurans
 anda berubah sebaik sahaja anda berkahwin. Siri Video Insurans360 akan terus memberikan penerangan mengenai aspek-aspek yang belum diketahui dalam dunia insurans kenderaan di Malaysia. Jadi, jika anda ingin mengetahui bagaimana untuk menjadi lebih bijak dan mendapatkan pelindungan yang lebih baik, pastikan anda tekan ikon ‘Subscribe’ saluran kami, supaya anda tidak terlepas /update’ berharga dari kami! Sekarang, setelah semuanya tersusun, mari kita teruskan.

Perkara pertama yang perlu anda tahu ialah berkahwin adalah sangat mempengaruhi apa yang anda bayar untuk insurans selain faktor usia. Sekarang, anda mungkin sudah tahu mereka yang lebih muda perlu membayar lebih untuk
insurans auto
. Ini kerana mengikut statistik mereka lebih cenderung untuk
terlibat dalam kemalangan
. Begitu juga, pelbagai kajian menunjukkan bahawa mereka yang telah berkahwin kurang potensi untuk terlibat dalam kemalangan kenderaan. Insurans adalah mengenai mengira risiko dan juga liabiliti. Sebab itulah banyak
syarikat
insurans auto
 akan memeriksa sama ada anda telah berkahwin sebagai tambahan kepada sejarah pemanduan anda. Oleh sebab pasangan berkahwin kurang terlibat dalam kemalangan kenderaan, banyak
syarikat insurans
 selalunya akan menawarkan anda diskaun yang lebih besar jika mereka mengetahui anda telah berkahwin. Terdapat banyak teori berlegar-legar tentang kenapa mereka yang sudah berkahwin kurang terlibat dalam kemalangan. Beberapa kajian menunjukkan bahawa mereka yang berkahwin lebih cenderung untuk kurang memandu berbanding orang bujang, Namun yang lain percaya, ini kerana mereka yang telah berkahwin lebih stabil.

Walau apa jua keadaannya, jumlah yang meyakinkan ini menunjukkan bahawa individu yang masih belum berkahwin lebih cenderung untuk terlibat dalam kemalangan. Sebenarnya,
diskaun
 untuk mereka yang berkahwin sangat luas sehingga pemandu muda di bawah umur 25 tahun juga dapat menikmatinya. Lebih-lebih lagi jika pasangan tersebut memiliki rekod pemanduan yang baik, mereka boleh menggabungkan polisi mereka untuk mendapatkan diskaun insurans kereta berganda yang lebih baik! Sudah tentu perkara sebaliknya akan berlaku jika pasangan tersebut mempunyai dakwaan dalam rekod pemanduan mereka. Sekarang, anda mungkin tertanya-tanya, jika berkahwin memberi kesan positif kepada insurans kenderaan anda, adakah penceraian juga akan memberi kesan kepada polisi anda? Jawapannya, ya!

Anda bukan sahaja akan kehilangan diskaun perkahwinan anda secara automatik, tetapi diskaun kenderaan berganda yang anda nikmati juga akan ditarik balik. Sekiranya perpisahan tersebut memerlukan anda untuk berpindah lokasi, anda mungkin perlu menjangkakan apa yang anda perlu bayar untuk insurans akan terus meningkat. Akhirnya, walaupun banyak faedah bagi diskaun perkahwinan pada insurans auto anda tidak cukup untuk mengikat perkahwinan, jelas bahawa diskaun ini boleh mengurangkan apa yang perlu anda bayar untuk
pelindungan insurans
.

Dan, itu saja! Jika anda menikmati video ini, sila tinggalkan tanda ‘Like’. Juga ‘Subscribe’ ke saluran kami dan jangan lupa untuk mengaktifkan notifikasi untuk terus mengikuti semua episod yang akan datang dari Siri Video Insurans360 ini! Terima kasih kerana menonton!

Tags:
Diskaun Insurans
Insurans Auto
Kos Insurans Auto
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Can I Insure A Car Without Driver’s License?

Due to one reason or the other, you might find yourself needing to take on an auto insurance policy for your vehicle in the absence of a license. Are you wondering if it’s possible to get insurance without a valid
driver’s license
 in the country? Would you like to find out how to go about it? All you have to do is sit back and keep watching this video! Hello and welcome to yet another episode of the
Insurance360 Video Series
! Today, I’ll be talking you through how to get a fully operational
insurance
 package for your automobile without a license in quick, easy steps! I’m Stella, Fincrew brand ambassador and thanks for joining us today. Get everything you need to know about automobile insurance at your fingertips! Just click on that Subscribe icon and enable notification settings so you can view everything in our
Insurance360 Video Series
!

Now that you’ve done that, let’s get started. A
driver’s license
 is a big part of getting auto insurance in Malaysia. One major reason for this is because any
auto insurance company
 requires this information to research your driving history. If they don’t have it, then they can’t estimate the potential risk they’re taking on with your driving. By extension, this means that they may experience a little difficulty evaluating what you’ll pay a
premium for your insurance
. For this reason, finding an insurer that will offer you coverage in the absence of a driver’s license is a bit challenging. It’s challenging, but not impossible. Some insurers will still extend your coverage even when you don’t have a valid driver’s license. These insurers account for the fact you mightn’t have a license due to factors like using a chauffeur or having an existing medical condition. To that end, if you want to get coverage from these providers, you can do so using any of the following channels.

Name Someone Else as the Primary Driver

You can simply buy the policy under the name of another individual. This works best if the person you’ll be using,

Lives at your address,

Is related to you, and

Possesses a valid driver’s license

However, depending on your potential insurer’s exact requirements, the person filling for you as the primary driver may not have to meet all the demands just mentioned. Still, in line with this approach, you could buy the policy and list yourself as an excluded driver. Many
insurance providers
 are usually open to this. You have to remember that should you get involved in an accident while driving, you won’t receive any payout to cover the resulting expenses.

List a Licensed Driver As Vehicle Co-Owner

Alternatively, you could take out the policy and then list someone with a valid driver’s license as the vehicle’s co-owner. On many levels, following this approach may prove more convenient for you than the previous option.

Operate a Parked Car Policy

If you have an exotic or expensive
car parked
 in your garage that you simply MUST take on an
insurance
, you can work out an arrangement where your insurer drops other coverage but still insures your vehicle against theft, fire and damages. Essentially, these are the most common ways you can insure your vehicle without possessing a driver’s license. So what do you think of possessing cars without a driver’s license? Would you have done it? Let us know more in the comments section below. Don’t leave without giving us a Like and hitting the Subscribe button. Enable notifications, too! See you again!

Tags:
Additional Driver
Car Insurance
Driver's License
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Bolehkah Insurans Auto Membayar Untuk Kos Membaiki Kereta?

Terima kasih kepada peraturan yang telah ditetapkan, setiap pemilik kenderaan di negara ini mempunyai sekurang-kurangnya satu pelindungan insurans auto atau lebih. Tapi apakah yang sebenarnya dilindungi oleh polisi ini? Adakah semua polisi insurans yang diambil merangkumi
kos membaiki kereta
 anda? Kami akan membincangkan isu yang kurang jelas dalam
insurans auto
 ini secara meluas pada hari ini!

Setiap pemilik kenderaan tahu bahawa pembaikan kereta akan selalu berlaku. Itulah satu satu dugaan memiliki dan mengendalikan kenderaan. Mempunyai polisi yang merangkumi
kos membaiki kereta
 pastinya lebih baik. Ia akan mengurangkan beban kewangan untuk menaggung perbelanjaan yang tinggi. Anda hanya boleh mendapatkan satu daripada tiga
jenis
insurans auto
 di Malaysia Anda sama ada mendapat:

Perlindungan
Pihak Ketiga

Perlindungan Pihak Ketiga, Kebakaran dan Kecurian atau

Perlindungan Komprehensif

Mari kita lihat pelan-pelan perlindungan ini:

Perlindungan Pihak Ketiga

Ini merupakan polisi pilihan bagi kebanyakan pemandu di negara ini. Ia terkenal kerana harganya yang murah dan memenuhi syarat asas undang-undang bagi mendapatkan insurans kenderaan. Seperti namanya, ia hanya melindungi pemilik kenderaan dari beban kewangan yang meliputi pembaikan dan bil perubatan ke atas kenderaan, harta benda dan juga individu dari pihak ketiga.

Perlindungan Pihak Ketiga, Kebakaran Dan Kecurian

Seperti pelindungan asas Pihak Ketiga, anda akan dilindungi sepenuhnya untuk semua kerosakan yang menimpa individu lain. Tapi, dengan polisi Pihak Ketiga, Kebakaran dan Kecurian, anda juga akan menikmati kelebihan untuk tidak perlu mengeluarkan duit poket sendiri jika kereta anda menjadi mangsa kebakaran atau kecurian.

Perlindungan Komprehensif

Polisi ini pada dasarnya turut melakukan perkara yang sama dengan pakej Pihak Ketiga, Kebakaran dan Kecurian. Salah satu peningkatan yang besar dari pakej sebelum ini adalah kos pembaikan kenderaan anda akibat kemalangan akan ditanggung asalkan anda tidak bersalah. Berdasarkan penjelasan ringkas mengenai pelbagai
jenis pelindungan
 yang tersedia untuk pemandu, anda dapat melihat dengan jelas bahawa jika anda mengambil polisi asas Pihak Ketiga, anda tidak dapat mengharapkan sebarang bayaran untuk pembaikan kereta anda.

Jika anda menggunakan pelindungan Pihak Ketiga, Kebakaran dan Kecurian, anda tidak perlu menanggung kos pembaikan sekiranya kenderaan anda mengalami kerosakan. Ini tentunya untuk kerosakan yang disebabkan oleh kecurian atau kebakaran sahaja. Anda perlu membayar sendiri jika kerosakan berlaku akibat seperti masalah lusuh atau pelanggaran. Anda mempunyai lebih banyak kebebasan dari mengambil berat tentang pembaikan kereta anda bila menggunakan polisi insurans Komprehensif. Anda berhak mengemukakan tuntutan jika kereta anda rosak dalam kemalangan kenderaan dan anda tidak bersalah. Bagaimanapun, anda masih tidak akan dilindungi jika anda perlu membaiki kereta tersebut akibat lusuh. Akhirnya, kaedah terbaik untuk memastikan sama ada anda dinsuranskan untuk pembaikan kereta atau tidak adalah dengan membaca cetakan polisi anda. Ia secara terperinci menjelaskan semua keadaan di mana anda berhak mendapat bayaran daripada syarikat insurans

Tags:
Insurans Kenderaan
Kebakaran Dan Kecurian
Perlindungan Komprehensif
Perlindungan Pihak Ketiga
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Travel Insurance For Cruise Trip

The reality of a dream vacation seldom matches our fantasy: palm trees swaying in the breeze, plated meals served at whim, toes pointing toward the horizon on a sun-soaked day at sea. This vision does not consider missed flights, lost bags, or medical emergencies. The reality is, even when you try to get away from it all, life has a way of getting in the way. There are many ways to get peace of mind while on a cruise. Still, a well-tailored cruise
travel insurance
 policy is virtually always a brilliant idea, according to industry experts. The approach ensures not only your financial investment but also can help you access quality medical care on the road and cover unforeseen expenses if anything goes wrong. This guide to
travel insurance
 for cruises explains all you need to know to choose a policy easily. This way, you can easily plan for those future afternoons on the lido deck.

Cruise insurance: What Does It Cover?

Cruise insurance offers a variety of benefits and coverage options, much like most insurance policies. The more help you add, the more the policy costs, though you may want to check all the boxes to maximize your coverage. Almost all cruise insurance policies cover your travels before and during your cruise, as well as any medical issues you might face at sea. A
cruise insurance policy
, for instance, will protect you against canceled or delayed flights. Cruise
insurance policies
 offer additional coverage, benefits, and limits in exchange for a higher premium. Your cruise policy may also allow you to cancel your cruise for any reason, as well as provide higher limits on medical expenses, lost or delayed baggage, and emergency evacuation costs.

How To Choose The Best Cruise Insurance

A good travel insurance policy is imperative whether it’s your first cruise or you’ve taken many. Travel medical expenses, trip interruption, and trip cancellation are the most common
claims
 filed by cruise passengers. You’ll probably need these types of coverage in your
cruise insurance policy
:

Trip cancellation insurance
: With this policy, you are refunded 100% of your prepaid and non-refundable deposits if you need to cancel for a reason.

Trip interruption policy
: This covers unused trip costs at 100, 150, or 200% of the original amount if you must cut short your trip because you’re ill, injured, or die.

Emergency medical expenses
: Cover any injuries or
illnesses
 sustained during the trip. Travel insurance policies can cover medical expenses in unexpected accidents or illnesses. For example, jellyfish stings from snorkeling excursions or antibiotics in the event of a nasty disease such as strep throat.

Emergency medical evacuation cover
: This helps pay for the cost of getting you to the nearest hospital or back home if necessary.

Cancel for any reason cover
: Non-covered cancellations will not be covered unless you have purchased cancellation for any reason coverage. It reimburses you 50% or 75% of trip costs and allows you to cancel the trip at any time.

Where To Buy Cruise Travel Insurance

Experts recommend finding an independent, third-party insurer instead of the cruise line’s policy. A travel insurance policy from an independent insurer is typically more comprehensive than one purchased through a cruise line. Purchasing a
travel insurance policy
 from a company like Fincrew Insurance can offer some extra benefits like emergency medical care, which may not be available under protection plans offered by cruise lines.

When To Buy Cruise Travel Insurance

You should purchase travel insurance when you have booked your cruise. If anything goes wrong before you depart, you will have the most significant window of protection. In some cases, independent insurers can cover preexisting medical conditions at no extra charge-but only if the policy is purchased within 14 to 30 days of the first payment. If you get into an accident and break your leg, for example, you can’t purchase a policy afterward, but you can buy standard travel insurance up to 24 hours before departure. The cancellation for any reason policy must be between 14 and 21 days after you make your initial trip deposit.

Tags:
Cruise Travel Insurance
Travel Insurance
Trip Cancellation Insurance
Trip Interruption Policy
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Polisi Insurans Motor

Adakah anda sedang merancang untuk membeli kereta baharu? Anda juga terfikir adakah mendapatkan
polisi insurans motor
 merupakan langkah yang terbaik? Ini bukan soal
insurans kenderaan
 diwajibkan oleh undang-undang atau tidak. Ini mengenai pelindungan kewangan serta faedah lain yang bakal diperoleh daripada
polisi insurans motor
. Tujuan utama mendapatkan
insurans kenderaan
 adalah untuk memberikan pelindungan kewangan sekiranya kenderaan anda terlibat dalam kemalangan. Bergantung kepada pelan yang anda pilih, anda mungkin akan mendapatkan pelindungan kewangan untuk perkara berikut:

Tuntutan kecederaan dan kematian pihak ketiga – Kenderaan anda terlibat dalam kemalangan yang disebabkan oleh kecuaian pihak ketiga. Jika mereka yang bersalah, anda akan mendapat pelindungan kewangan untuk kecederaan tubuh badan dan juga kematian.

Kerosakan harta benda pihak ketiga – Adakah pihak lain menyebabkan kerosakan terhadap kenderaan anda atau kenderaan mereka? Jika ya, anda boleh membuat tuntutan terhadap syarikat insurans. Bergantung kepada siapa yang menyebabkan kemalangan, tuntutan boleh dilakukan terhadap anda atau syarikat insurans pihak satu lagi.

Kerosakan harta benda sendiri – Sekiranya kenderaan anda mengalami kerosakan, anda boleh membuat tuntutan ‘No Fault Own Damage’ (NFOD) dan juga tuntutan untuk kesalahan sendiri. Tahap pelindungan kewangan yang diberikan mungkin berbeza-beza.

Tuntutan kebakaran dan kecurian – Adakah kenderaan anda dicuri? Adakah kenderaan anda rosak akibat kebakaran atau apa-apa sahaja bencana alam?  Motor polisi akan memberikan perlindungan kewangan kepada anda untuk kes-kes seperti ini.

Untuk mendapatkan
pelan insurans kereta
, anda boleh memilih satu satu daripada tiga jenis pelindungan ini:

Pihak ketiga

Pihak ketiga, kebakaran dan kecurian

Komprehensif

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Perlindungan Tambahan

Berikut merupakan beberapa perlindungan tambahan yang boleh anda masukkan ke dalam
polisi insurans
 motor:

Liabiliti undang-undang kepada penumpang – Bagaimana jika penumpang atau orang lain di dalam kenderaan lain membuat tuntutan kepada anda kerana kecederaan mereka?

Pampasan untuk tempoh pembaikan yang dianggarkan – Anda mungkin tidak dapat menggunakan kenderaan anda itu untuk sementara waktu. Ini akan menampung perbelanjaan anda sepanjang tempoh tersebut.

Cermin hadapan – Jika cermin pecah dan bukan diakibatkan oleh kemalangan jalan raya.

Banjir – Jika kereta anda rosak akibat banjir, anda akan dilindungi.

Ketenangan Fikiran

Akhir sekali, ketenangan itu tidak boleh dibeli. Ia mungkin bukan cara terbaik untuk menggambarkan bagaimana polisi insurans motor ini akan melindungi anda. Tetapi ianya sangat penting. Memiliki pelan
insurans kereta
 akan membantu anda untuk tidur lena. Ini memang benar apatah lagi jika bukan anda seorang yang akan memandu kenderaan tersebut. Sekiranya berlakunya kemalangan, anda akan berasa lega kerana syarikat insurans akan menanggung kos pembaikan yang perlu. Ini akan memastikan keluarga anda tidak menghadapi masalah kewangan yang teruk akibat daripada kemalangan itu.

Bagaimana Pula Jika Anda Yang Menyebabkan Kemalangan?

Tidak ada siapa pun yang sempurna. Anda mungkin menyebabkan kemalangan semasa anda memandu. Adakah kejadian yang tidak diingini itu merosakkan harta benda orang lain? Jika ini berlaku, memiliki polisi insurans motor mungkin akan memberikan beberapa pelindungan untuk mengelakkan anda kehilangan semua yang anda miliki disebabkan tuntutan mahkamah. Polisi insurans motor yang komprehensif akan membolehkan anda untuk membuat tuntutan kerosakan terhadap syarikat insurans anda.

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Jika anda terlibat dalam kemalangan, penting untuk anda berada dalam keadaan tenang. Apabila tiba sahaja masa untuk berbincang mengenai kerosakan kenderaan, adalah sesuatu yang kurang bijak untuk menawarkan pembayaran atau penyelesaian dengan segera. Sebaliknya, utamakan apa yang diwajibkan oleh undang-undang terlebih dahulu seperti membuat laporan polis atau mengisi borang pemberitahuan kemalangan untuk dihantar kepada syarikat insurans. Untuk memfailkan sebarang tuntutan secepat yang mungkin, pastikan anda menyelesaikannya sebelum tarikh akhir yang telah ditentukan oleh undang-undang atau syarikat insurans anda.

Tags:
Insurans Kereta
Komprehensif
No Fault Own Damage
Polisi Insurans
Polisi Insurans Motor
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