Private Motor
Private Motor Insurance
Motor Insurance in Malaysia is regulated primarily by the Road Transport Act 1987. Part IV of the Act, requires that every motor vehicle which is licensed for use on a road must be insured with an authorised insurer to provide protection against damage and/ or third party risks arising out of the use of motor vehicles.
Type of coverage
|
|
|
||
|
|
|
|
|
Liabilities to third party:
|
|
|
|
| Loss or damage to the insured vehicle and its accessories and spare parts |
|
|
|
| Loss or damage to insured vehicle due to accident |
|
|
|
| Loss or damage to insured vehicle as a result of fire and theft |
|
|
|
A standard motor insurance will not cover certain losses, such as:
- Your own death or bodily injury;
- Your liability against claims from your passengers;
- Depreciation, wear and tear , mechanical or electrical or electronic breakdown or failure
- Consequential losses of any nature , e.g. flood, landslide
However, you may extend the benefit under Comprehensive Cover (subject to additional premium) to include:
- Windscreen cover
Premium rate – 15% of Windscreen Sum Insured
- Legal Liability of Passengers
[Premium rate – RM 7.50 per Vehicle]
- All Riders (Applicable for Motorcycle only)
Premium rate – 50% loading of Basic Premium
- Legal Liability to passengers
Premium rate – 25% of Third Party Premium (basic premium for first 4 passengers)
- Strike, Riot & Civil Commotion (SRCC)
Premium rate – 0.3% of Vehicle Sum Insured
- Flood, typhoon, landslide or other convulsion of nature
Premium rate – 0.5% of Vehicle Sum Insured
- Additional Named Driver
Premium rate – RM10.00 per person is charged for the 3rd authorised driver onwards
The Private Motor policy covers the following types of vehicle:
- Private car
- Private Van
- Four Wheel Vehicle with Private Use