MOTOR INSURANCE

 

With effect from 1st. July, 2017, Motor Insurance in Malaysia will be going in a transition period of liberation. Motor Insurance is a compulsory class of insurance for all vehicles licensed for usage on public road in accordance with Road Transport Act. 1987.

Motor Insurance is governed by the rules and regulations stipulated by Persatuan Insurans AM Malaysia (PIAM).

For this purpose, Motor Insurance is sub-divided in three broad categories:-

  1. Private Cars
  2. Motor Cycle
  3. Commercial Vehicles

Broadly speaking, the Comprehensive Cover is the most common type of insurance coverage that nowadays people are seeking.

  1. Comprehensive Cover
    1. This policy cover loss or damage to your vehicle:-
      • By accidental collision or overturning
      • By collision or overturning caused by mechanical breakdown or as a result of wear and tear 
      • By impact damage caused by falling objects provided no convulsion of nature is involved
      • By fire explosion or lightning 
      • By burglary, housebreaking or theft
      • By malicious act
      • When in transit (including its loading and unloading) by:-
        • Road rail inland waterway
        • Direct sea route across the straits between the island of Penang and the mainland
    2. Third party bodily injury and death, limits is unlimited.
    3. Third party loss or damage, limits is up to RM 3 Million.
    4. By paying additional premium, this Policy can be extended to cover:-
      • Windscreen Cover
      • Riot & Strike
      • Legal Liability of passenger(LLP)
      • Additional Named Driver
      • Legal Liability to passenger(LOP)
      • By inclusion of special peril
  2. Third Party, Fire & Theft Cover
    • Third party bodily injury and death, limits is unlimited
    • Third party loss or damage, limits is up to RM 3 Million
    •  Loss or damage to the motor vehicle due to Fire, Explosion, Lightning, Burglary, Housebreaking or Theft
  3. Third Party Cover
    • Third party bodily injury and death, limits is unlimited
    • Third party property loss or damage, limits its up to RM 3 million

 


 
   
 

   
 

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