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