We are all law abiding citizen and we know that when we are involved in an accident, we will have to make a police report within 24 hours. Irregardless of who is at fault, we would expect both parties to make a police report, so that either party can proceed with their insurance claim. For…
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Cash before Cover means that premium must be paid first before an insurance cover can take effect. Example of Cash before Cover insurance would be Motor (Car) Insurance, Travel Insurance, medical insurance, bond insurance etc. This is actually prescribed by law that these insurance cover can only be issued by insurers or their agents on…
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E-hailing drivers must apply for the Public Service Vehicle (PSV) licence from April 1, says the Road Transport Department (JPJ) and they have until July 12, 2019 to do so. Apart from apply for a PSV licence, vehicles used for e-hailing that is more than 3 years will need to undergo inspection test at Puspakom…
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The Financial Mediation Bureau (FMB) is an independent body set up to help settle disputes between financial services providers such as banks or insurance companies with their customers. For insurance disputes such as claim settlement, or refusal to accept your claim etc, you may seek the service of FMB. FMB is an integrated dispute resolution…
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KFK stands for Knock for Knock. The KFK agreement is signed among all Malaysia Insurance companies whereby all insurers will refrain from exercising their respective subrogation rights against each others, irregardless whose insured party is at fault. Example, an accident occur between Vehicle A and Vehicle B. Vehicle B is clearly at fault, thus, the…
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Legal liabilities to Passengers, commonly refers to as LLNP or LLTP. It is an extra coverage that you can take up with extra premium, whereby it covers you against legal liabilities sought by your passengers against you in an event of an accident due to your negligent. Your comprehensive policy, under section B, expressly exclude…
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The electronic cover notes (eCover Note) system under JPJ eINSURANS is part of the e-Government initiative undertaken by the Ministry of Transport for road tax renewal. With effect from 2 January 2005, insurance companies and takaful operators will transmit motor insurance/takaful information electronically to the Road Transport Department (RTD) and policy owners will receive confirmation…
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You may have noticed in some of our quotation that the proposed sum insured are stated as Agreed Value. While there are time it is based on Market Value. So, what actually is the difference between Agreed Value and Market Value? And which value should you insured your vehicle for? Our recommendation would be insuring…
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‘Bike Warrior’ is a Personal Accident and Roadside Assistance product for those who own superbikes that are 250cc and above. With just RM150 a year (including stamp duty), it has many benefits in terms of road side assistance, personal accident as well as other benefits. In terms of road side assistance, ‘Bike Warrior’ is a…
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Thunder storms, heavy rain and low laying areas around Klang Valley frequently lead to flash flood and turns open car parks and basement into swimming pools. Despite the SMART tunnel, sudden heavy rain fall will quickly leads to river bank overflows, resulting in flash flood that comes and subside. It may come and go within…
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Vehicle Age Loading is additional loading imposed by insurance companies on your vehicle exceeding certain age. Thus, driving a old car with lower sum insured may not be cheaper due to this vehicle age loading. Generally, a vehicle more than 4 year old will be subject to 5% loading, and vehicle with age 7 and…
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CART means a reasonable amount payable by third party insurance companies as compensation for loss of use of vehicle. When your vehicle is involved in an accident, where you are not at fault and you are claiming against another party insurance. You may be inconvenienced without your vehicle. So, in such case, you can claim for…
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Apart from renewing your car insurance, you will also need to renew your road tax. But you must have a valid insurance policy before you can renew your road tax. Thus, after you have received the cover note, you can then proceed to any POS Office or goes online to MYEG to renew your road…
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MMIP stands for Malaysia Motor Insurance Pool. MMIP is a high-risk insurance pool that runs collectively by the insurance industry under the orders from the regulators. It provides motor insurance to vehicle owners with difficulty to obtain motor insurance from normal commercial insurance market. Most if not all insurance company does not accept vehicles above…
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Betterment is a portion of cost you have to bear when your damaged parts are replaced with brand new, original part. In this case, you car appears to be in a better condition prior to accident. In fact, it is against the insurance principle of indemnity. Insurance is intended to indemnify your loss, and no…
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