Tuesday, 15 June 2010

Expat Car Insurance and Road Tax in Malaysia.

Car Insurance in Malaysia - No Bartering!!

One thing I find really funny is that Malaysians are by nature a bartering Nation.

Yet when it comes to Car insurance, its basically the same where ever you buy it from, So this year I began to think outside the box and look for the extras one might get other than money reductions (Usually they will reduce the premium but they will have to reduce the car value to do so, be careful if you take that route as you may come up short if you are unfortunately involved in an accident where by the car value will come into play for the pay out.)

  •  If sum insured is less than the market value, you are deemed as self-insuring the difference.
  • In the event of a loss, you will only be partially compensated.



So what have I found out - well the banks (hsbc) do online insurance and car tax - they give you 2xpoints for every ringgit average car insurance is 1250 with 55% ncd. so you get around (hsbc points = prizes)3000 points better than nothing plus you get the convenience of delivery to you home of the tax disc, and can print instantly the insurance cert and cover terms & condition straight to you desktop, (using adobe pdf - free software from adobe.com) this save you having to print it out until you need it, and so saves on paper and helps the planet.

A few of the insurance companies I contacted quotes below

      1. einsuran.com         =RM1180
      2. etiqa                      =RM1190 with cash back (but unable to find out how much without  filling in all my personal details online.
      3. My EG                  =RM1180
      4. Tokyo Marine       =RM1190

As you can see not much difference so only option is to look for the free gifts that some offer and use that to make your choice (sorry not able to show free gifts offered by the respected companies as they only give after completed transaction, and NOT all give gifts) -ASK ASK what benefits they will give you to take insurance with them, some may even waiver their commission to get your business that's about rm10.

It's like anything I want to buy - I let my fingers do the walking first (telephone).

For me I'll be using the hsbc one and get those point added to my account. and of course have the car tax done at the same time.

You may find the information on the below picture interesting it's about colour preference when it comes to cars.


OK well good luck in protecting your car and remember
the cheapest is not always the best.

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