Car Insurance

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Insurance generally is highly regulated in Malaysia, and there is no 'deal' to be had by shopping around. All that is different in relation to the service you get is the Agent you choose, and believe me some are better and more helpful than others. Some do practically everything for you for a very reasonable add on fee.

Fees are determined by the make of car and the current value. Again the current guides give the realistic 'today value'. There is no benefit in claiming that your car is worth more as it has low ,mileage or your are a very caring and careful owner. The insurance will only pay according to the 'book' guide.

I can only give you a guide, and it is advisable to speak to an agent & have fully comp car insurance.
A car worth RM400,000 will cost you around RM10,000 for 1 years insurance with no 'NO Claims Discount'....obviously a lot less if you have a 45% no claims discount.

A car worth between 10 and 20,000 Ringgit will cost you between RM300 to RM500 for a year. So you see it is all closely linked to the value you are insuring.

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If you have had the foresight to bring a letter from your insurance company in your home country with your 'no claims discout' shown, you can generally get the same discount off your Malaysiam insurance policy. If you didn't get such a letter, write to them and ask for one - it can save you a small fortune.

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hi, Ladycroft,

Many thanks for the tip.

My motorbike insurance is RM45 for 3rd party etc. and has pretty much been at this this level for the past 8 years.

regards, Scott

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Do you have to have insurance by law?

and

Is there 3 levels like the UK

3rd party
3rd Party, fire and theft
Fully Comprehensive

Also

Has anyone here made a claim and if so how was it dealt with

and lastly

Is there much car crime

Cheers

JJ

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Do you have to have insurance by law? Yes, you can't get your road tax without evidence of insurance!

and

Is there 3 levels like the UK

3rd party
3rd Party, fire and theft I am not aware of this one!
Fully Comprehensive

Also

Has anyone here made a claim and if so how was it dealt with. Only claimed on personal insurance & it was all quite efficient.

and lastly

Is there much car crime. There is a reasonable amount of car crime, often caused by young motorcyclists late at night. Random windscreen smashing & throwing rocks etc. The more worrying type is where owners of 'luxury cars' are held at knifepoint (usually a parang - which is a lethal weapon similar to a machete) whilst they are approaching their car or in their cars, and they are oblidged to hand over their keys, never to see the car again. As everywhere if anything of value is visible inside a locked car there is a real danger of a window being smashed and the article stolen.

Cheers

JJ

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I uplifted the following from a post by Qjumper on the link below:-

http://www.my2home.info/index.php/topic,35.msg2894.html#msg2894

Quote: If you had done the motor insurance separately I'm sure the car (any driver) would have been insured and not a single named driver. Unquote.

I insure my vehicles throught 2 different companies, and in both cases they only insure the named driver, and one other 'named driver' as standard within the policy. You can have other named drivers, but they then charge a nominal fee per named driver.

Given how regulated the insurance industry is here in Malaysia I am not aware of cover which allows for any driver....but I may be wrong