Looking for the best car insurance 2024? Explore our comprehensive guide to the top-rated car insurance providers in Malaysia, awarded for superior service and coverage.

Navigating the myriad of motor insurance options can be daunting. Yet, the annual Motor Insurance and Takaful Awards shine a light on the best car insurance providers in Malaysia, recognized for their outstanding service, comprehensive coverage, and customer satisfaction. This guide not only simplifies your search but also ensures you’re well-informed to make the best choice for your vehicle insurance needs in 2024.

Best Car Insurance 2024 for Malaysians

1. Generali Car Insurance – A Benchmark for Customer Satisfaction and Innovation
2. Berjaya Sompo Insurance – Excellence in Comprehensive Coverage
3. Etiqa Insurance – Synonymous with Efficiency and Customer-Centric InnovationTokio Marine – Global Coverage You Can Trust
4. Tokio Marine Travel Insurance: Reliability and Tailored Protection
5. Allianz Malaysia – Comprehensive Protection Plans
6. MSIG Motor Insurance – Extensive Benefits for Every Driver
7. RHB Private Car Insurance – Customized Policies for You
8. Zurich Private Car Insurance – Your Partner in Protection
9. Liberty Private Car Insurance – A Commitment to Customer Care
10. LonPac Private Car Secure – Comprehensive Coverage for Your Needs

Generali Car Insurance, known for its trailblazing and comprehensive insurance solutions, has earned the top spot in this year’s awards.

With the strategic merger of AXA Affin and MPI Generali, the new unified brand of Generali Car Insurance has emerged, demonstrating a strong commitment to delivering exceptional insurance services and products tailored to the Malaysian market.

**Record Win at the Asia Insurance Awards 2023**: Generali’s international acclaim was solidified with a record-breaking win at the Asia Insurance Awards in 2023. This achievement is not just a milestone but also a testament to Generali’s unparalleled excellence and innovation in the global insurance industry. By securing this award, Generali has set a new standard for what customers can expect from the best car insurance.

Generali Car Insurance’s unique suite of features in Malaysia stands out for its adaptability and customer-focused approach. Policyholders can enjoy customizable coverage plans, a fast and efficient claims process, 24/7 roadside assistance, comprehensive protection against natural disasters, No Claims Discount (NCD) Protection, cutting-edge digital solutions, and international coverage options. These offerings underscore Generali’s dedication to providing the best car insurance solutions that meet the evolving needs of drivers in Malaysia and beyond.

Berjaya Sompo Insurance’s presence in Malaysia has grown significantly, earning them second place in the latest motor insurance rankings and solidifying their position as a provider of the best car insurance 2024. Offering robust coverage options paired with stellar customer service, it has become the go-to for many Malaysian vehicle owners seeking the best car insurance.

Berjaya Sompo stands out in our 2024 roundup as the unmatched leader, securing the coveted first place. This achievement is a testament to the company’s innovative approach to car insurance, merging customer-focused products with state-of-the-art technology.

**Launch of Telematics SOMPO MOTORSAFE**: Berjaya Sompo introduced SOMPO MotorSafe, a cutting-edge, usage-based telematics motor insurance plan tailored for low-mileage drivers. This plan is at the forefront of their offerings, highlighting a telematics-based solution that incentivizes safe driving and provides unmatched flexibility, positioning it as a premier choice for those seeking personalized car insurance coverage in 2024.

**Partnership with iMotorbike for Digital Insurance Solutions**: The collaboration with iMotorbike, a leading Southeast Asian online platform for motorbikes, reflects Berjaya Sompo’s commitment to advancing digital insurance solutions. This partnership facilitates a quick, secure, and user-friendly experience for customers to renew or purchase motorcycle insurance online, simplifying the insurance process and broadening Berjaya Sompo’s reach as a forward-thinking provider in Malaysia.

Berjaya Sompo’s unique offerings in car insurance include the SOMPO MotorSafe Plan, a swift claims approval process, comprehensive natural disaster coverage, 24/7 roadside assistance, flexible coverage options, personal accident coverage, effortless online policy management, and strategic partnerships for enhanced services. These features establish Berjaya Sompo as a leading choice for vehicle owners in Malaysia, emphasizing their commitment to safety, convenience, and comprehensive coverage in the car insurance market.

Etiqa Insurance takes a proud third place in the 2024 motor insurance awards, further cementing its status in providing some of the best car insurance in Malaysia. The insurer’s dedication to efficient claims processing and customer-first innovation is at the heart of its award-winning service.

Etiqa’s flagship offering, Takaful and Conventional Motor Insurance, is tailored to a broad client base, with policy options ranging from comprehensive to third-party fire and theft, and third-party only coverages. The insurer’s commitment to efficiency is epitomized by its pioneering e-claims service, which ensures that policyholders can lodge claims online and receive rapid processing, often in mere minutes.

**Unique Add-Ons for Tailored Protection**: Etiqa offers a suite of add-on covers, such as key care cover, special perils cover, and windshield cover, enabling policyholders to enhance their policies for all-encompassing protection. This level of customization allows drivers to craft the best car insurance policy that caters precisely to their needs.

With Etiqa, policyholders benefit from a fast e-Claims service, customizable add-on covers, No Claims Discount (NCD) Protection, 24/7 roadside assistance, flexible payment options, and the innovative Etiqa Auto Assist app for on-the-go policy management. Etiqa also offers an agreed value option for car insurance, which secures the agreed value of the car in case of a total loss, eliminating depreciation concerns. These features collectively make Etiqa Insurance a preferred choice for Malaysian drivers looking for reliable and adaptable car insurance coverage in 2024.

In the realm of the best car insurance in Malaysia for 2024, Tokio Marine stands tall, renowned for its extensive international coverage and unwavering trust among customers. This global insurance titan provides not only local expertise but also the assurance of international protection, catering to the needs of frequent travelers and global citizens alike.

Unmatched Global Reach: Tokio Marine’s policies extend well beyond the borders of Malaysia, offering a security blanket that covers you no matter where your travels take you. This extensive reach is a boon for those seeking the best car insurance that harmonizes local and international travel needs.

Tokio Marine’s reputation as a trusted insurance partner is built on its long-standing history of reliability and comprehensive service. With a focus on providing expansive coverage options and exceptional customer support, Tokio Marine ensures that policyholders receive the best car insurance experience, whether navigating the busy streets of Kuala Lumpur or cruising along foreign highways.

Innovative Insurance Solutions: Tokio Marine continues to innovate, offering products that meet the changing dynamics of risk and mobility. Their commitment to delivering tailored insurance solutions ensures that every driver finds a policy that fits their individual lifestyle, making Tokio Marine a leading choice for car insurance in 2024.

Achieving a commendable fifth place in the 2024 ranking for the best car insurance in Malaysia, Allianz Motor Comprehensive Plan stands out with a host of enhanced features under its umbrella. This plan has been recognized for its comprehensive coverage against liabilities to other parties for death or bodily injuries, damages to other parties’ properties, accidental or fire damages to your car, and theft of your car. Embracing the Rahmah Insurance Initiative, Allianz has added extra benefits to this plan without additional charges, including death and permanent disablement benefits, hospital income, and compassionate flood coverage, specifically designed to meet the needs of the modern Malaysian driver. The inclusion of the Allianz Road Rangers service, a dedicated accident assistance program, further solidifies the plan’s position in the market, offering a seamless claims journey and ensuring customers receive fast and efficient support when they need it the most​

Securing the sixth spot in the “Best Car Insurance in Malaysia 2024” rankings, MSIG’s Motor Plus offers a comprehensive policy designed to extend the standard coverage of your vehicle insurance. MSIG Motor Plus stands out for its combination of fundamental protection with additional perks, providing a safety net that spans beyond the basics for more peace of mind.

This all-encompassing policy includes several notable features such as Personal Accident Insurance for the driver and passengers, covering against unexpected events during travel. It also offers full protection from natural disasters, such as floods, which is particularly relevant given Malaysia’s tropical climate and susceptibility to such events. Importantly, the plan addresses legal liability towards passengers, providing coverage in the event of a claim, and also includes a waiver of compulsory excess, which helps to mitigate out-of-pocket expenses during accidents.

Furthermore, the plan is equipped with a 24-hour unlimited towing service, ensuring that assistance is available whenever and wherever you need it most. This feature is particularly beneficial for those who frequently travel long distances and value the reassurance of constant support.

MSIG has also introduced the Lady Motor Plus, which is tailored specifically for female drivers. This plan acknowledges the unique needs of women on the road and provides an enhanced insurance package with features like Personal Accident protection, Inconvenience Relief Allowance, coverage for loss or damage to personal belongings, and a Transportation Allowance.

Both MSIG Motor Plus and Lady Motor Plus come with MSIG’s Motor Assist, a complimentary service that offers accident and roadside assistance, further illustrating MSIG’s commitment to customer service and satisfaction.

These inclusive and thoughtful features make MSIG Motor Plus a strong contender in the car insurance market, offering coverage that caters to a wide array of needs, ensuring that policyholders have comprehensive protection while on the road.

RHB Motor Insurance has secured the 7th place in the “Best Car Insurance 2024” rankings, demonstrating its strong position in the market through a comprehensive range of benefits and add-ons tailored to meet the needs of Malaysian drivers. RHB Private Car Insurance provides a safety net that includes up to RM3 million in liability coverage against third-party claims, No-Claim Discount (NCD) benefits, and free towing services up to RM300 per incident.

One of the key features that RHB offers is the Motorist Personal Accident Insurance, which extends additional coverage with enhanced sum insured options reaching up to RM240,000, along with competitive premium rates. For those who prefer extra protection, RHB’s Premier Protect Add-On Cover offers financial support in cases of natural disasters, theft, or total vehicle loss, along with allowances to assist with daily expenses while the vehicle is under repair.

RHB Motor Insurance stands out with its Roadside Assistance Programme, providing 24/7 support, and ensuring that policyholders have access to a wide network of panel workshops across the nation for any necessary repairs. The insurance plan also includes Special Perils Add-On Covers, safeguarding vehicles against damages from unforeseen events such as floods, storms, and landslides.

For added convenience, RHB has embraced digital solutions, allowing customers to easily purchase and manage their policies online or through a mobile application, reflecting the company’s commitment to innovation and customer-centric service.

Zurich’s Z-Driver, securing the 8th place in the “Best Car Insurance in Malaysia 2024” ranking, is a testament to Zurich Malaysia’s commitment to providing comprehensive and value-added motor insurance solutions. Z-Driver is designed not just to protect vehicles but also the precious lives within them, offering a basic motor plan with super value add-ons aimed at safeguarding families and individuals on the road. This plan is particularly noteworthy for its inclusivity and adaptability, catering to the needs of both conventional car insurance and Takaful customers, ensuring peace of mind for a wide range of drivers in Malaysia.

One of the highlights of the Z-Driver plan is its E-Hailing Endorsement, which is available to authorized E-Hailing drivers holding a comprehensive motor insurance policy with Zurich. This endorsement underscores Zurich’s responsiveness to the evolving needs of the modern driver, integrating annual and daily E-Hailing insurance coverage options for enhanced flexibility and protection.

The Z-Driver plan is distinguished by features that offer significant savings and benefits to policyholders. Drivers who are considered low risk, such as cautious, lady drivers, or those driving SUVs, can enjoy discounts up to 10% on their motor premium. Furthermore, the plan includes an option for voluntary excess, allowing policyholders to choose a self-pay limit in the event of a claim to receive up to a 20% discount on their motor premium. Additionally, the water damage cover and personal accident coverage extend comprehensive protection at an affordable cost, ensuring drivers and their families are well-protected against various risks on the road.

For those seeking extra assurance, Zurich’s Z-Driver plan offers a 60% discount off the tariff rate for special perils coverage, providing substantial savings on premiums while protecting vehicles against natural disasters such as earthquakes, sinkholes, landslides, and floods. Moreover, the plan allows for a complimentary cover extension to unlimited named drivers for private use, adding another layer of flexibility and convenience for policyholders.

Zurich’s approach with the Z-Driver plan highlights their dedication to delivering insurance products that offer flexibility, practicality, and affordability, ensuring that policyholders receive enhanced benefits and features that go beyond the basic coverage requirements

Liberty Private Car Insurance makes it to the list with its dedication to customer care, offering personalized service and support throughout the policy term.

Securing the 9th place in the “Best Car Insurance in Malaysia 2024” rankings, Liberty’s Private Car EZY Plus offers an expansive and flexible coverage plan tailored for private car owners. This comprehensive policy ensures that drivers and their vehicles are protected against a wide array of incidents, including theft, accidents, and damages to third parties. What sets the Liberty Private Car EZY Plus apart is its innovative approach to car insurance, blending traditional coverage essentials with modern-day conveniences and protections.

Liberty has incorporated unique features such as E-Hailing Endorsement for authorized drivers, extending its coverage to include those who use their vehicles for e-hailing services. This endorsement is a testament to Liberty’s adaptability to the changing dynamics of car usage in Malaysia, providing annual and daily coverage options for e-hailing drivers, ensuring they remain protected in every aspect of their driving endeavors.

Moreover, Liberty’s Private Car EZY Plus is designed with the driver and family’s safety in mind, offering Personal Accident coverage up to RM175,000 per car for as low as RM15/year. This coverage is pivotal, considering the unpredictable nature of road travel, ensuring comprehensive protection not just for the vehicle, but for every passenger within.

The plan also offers attractive discounts for drivers in low-risk segments, such as cautious drivers, lady drivers, or those driving SUVs, highlighting Liberty’s commitment to encouraging and rewarding safe driving practices. Additionally, the option for voluntary excess allows policyholders to customize their premium based on their preferred level of self-liability in the event of a claim, providing up to 20% discount on their motor premium.

Liberty’s Private Car EZY Plus underscores the company’s dedication to offering tailored, flexible, and comprehensive car insurance solutions. By focusing on customer-centric features, Liberty aims to provide Malaysian drivers with not just insurance, but a partnership geared towards safety, convenience, and peace of mind on the road.

Lonpac’s Private Car Secure – Comprehensive plan, ranked 10th in the “Best Car Insurance in Malaysia 2024,” offers an extensive coverage package designed for private car owners. The plan focuses on financial protection against various risks including business interruption, loss, destruction, or damage, complemented with value-added services such as free coverage for all drivers, impact damage from falling objects, transportation allowance, and document replacement extensions. This comprehensive approach ensures policyholders receive broad protection and support, addressing both common and unique insurance needs​​. For more detailed information, visit Lonpac’s official website.

The Motor Insurance and Takaful Award was established in 2016 and is Asia’s first independent motor insurance and takaful awards based on customer feedback.

Many times awards are given out to companies because they have paid for the top position or a group of people in a jury or panel selected the winners.  With people involved in the decision process, you cannot be sure that the results are neutral. iBanding’s ranking and selection of winners use actual customer reviews and a complex statistical model to provide neutral, unbiased results. This best reflects what Malaysian consumers believe about the service level of a company. It works like websites such as Booking.com or TripAdvisor, but instead of hotels, we provide insights into Malaysian insurance and takaful companies. You can find the winners of this year’s award here: Winner Motor Insurance Award 2024

Choosing the right car insurance provider is key to ensuring your peace of mind on the road. The winners of the Motor Insurance and Takaful Awards 2024 are the cream of the crop, combining coverage, customer service, and innovation. Review your needs, compare policies, and select an insurer that provides the best protection for your vehicle in Malaysia.

Are you in the market for the cheapest insurance for your Perodua Myvi 2018? Finding affordable yet comprehensive insurance for your Myvi is easier than you think. We’ve detailed the best options for your 2018 4D Hatchback Myvi with a 1496 cc engine, ensuring your coverage is top-notch and wallet-friendly.

Understanding Your Perodua Myvi’s Insurance Needs

The Perodua Myvi, particularly the 2018 model, is a favorite among drivers for its compact design and efficiency. This 4D Hatchback stands out in its class for its comfortable interior, reliable performance, and low maintenance costs, making it a popular choice in Malaysia. With a 1495.0 cc engine capacity, it strikes a balance between power and fuel economy, ideal for both city driving and longer commutes.

When considering insurance for your Myvi, it’s important to remember that this model’s features influence the insurance premium. The robust safety features of the Myvi, including dual airbags, anti-lock braking system (ABS), and Electronic Brakeforce Distribution (EBD), contribute positively by potentially lowering insurance costs due to enhanced safety ratings. Furthermore, the Myvi’s popularity and the availability of spare parts may also impact insurance premiums, often resulting in more competitive rates due to lower repair costs.

Is your renewal coming up? You have the opportunity to reassess your insurance needs. Consider comprehensive coverage that not only protects against accidents and theft but also considers the specific attributes of your Myvi. Whether it’s the vehicle’s age, your driving history, or the car’s safety features, each factor plays a crucial role in determining the best insurance policy for you.

In addition to the basic coverage, it’s wise to explore add-ons that can provide extra protection and peace of mind. Options like windshield coverage, flood protection, and additional personal accident coverage can be invaluable, especially considering the unpredictable weather and road conditions.

In summary, your Perodua Myvi, with its unique blend of efficiency, safety, and reliability, deserves insurance that’s just as dependable and cost-effective. As you explore options, keep in mind the specific characteristics of your vehicle and how they interact with the various insurance offerings available.

Comparing Insurance Prices and Coverage

We’ve researched various insurance providers to bring you the best deals for your Myvi. Here’s a quick comparison:

Making the Right Choice

While finding the cheapest insurance for your Perodua Myvi is important, there are several other critical factors to consider when selecting an insurer. It’s essential to look beyond the price and evaluate the overall value and reliability of the coverage offered. Here are key aspects to keep in mind:

1. Customer Service and Support: Evaluate the insurer’s reputation for customer service. Quick and empathetic responses during claims processing are crucial. Look for reviews or ask for recommendations to gauge an insurer’s customer support quality.
2. Claim Settlement Ratio: Investigate the insurer’s claim settlement ratio, which indicates the proportion of claims settled by the insurer. A higher ratio suggests a more reliable and efficient claims process.
3. Coverage Details: Analyze what the insurance policy covers. Some policies might offer lower premiums but have significant coverage limitations. Ensure that the policy covers common risks like accidents, theft, and natural disasters. Pay special attention to exclusions and conditions where the policy may not provide coverage.
4. Add-on Covers: Check for the availability of add-on covers that might be beneficial for your Myvi. Options like zero depreciation cover, engine protection, roadside assistance, and return to invoice can add significant value to your policy.
5. Network Garages: Look into the network of garages the insurer partners with. A wide network of cashless garages ensures easy and hassle-free repairs in case of damage to your vehicle.
6. Renewal Process and No-Claim Discount (NCD): A seamless renewal process is an added advantage. Also, check for a No-Claim Discount, which is a discount offered on the premium for every claim-free year. It can significantly reduce your premium over time.
7. Online Reviews and Ratings: Explore online forums, social media, and review platforms to see what current customers say about their experiences with the insurer. This real-world feedback can be invaluable. Check out iBanding’s Malaysian Motor Insurance Award Winner in 2021/2022 to find out who is the best

Next Steps

Once you’ve decided on the right insurer for your Perodua Myvi, reach out to them to get more detailed information and finalize your policy. Ensure you have all your vehicle details handy for a smoother process.

Conclusion

Securing the right insurance for your Perodua Myvi 2018 doesn’t have to be complicated or expensive. By comparing options and considering your specific needs, you can find a policy that offers great coverage at an affordable price. Remember, the cheapest option isn’t always the best, so weigh all factors before making your decision. Safe driving and happy insuring!

You may have heard of PolicyStreet to renew your car insurance online. However, do you know if PolicyStreet is cheaper or better than iBanding? Let us tell you. iBanding is cheaper. Let’s find out how in this article.

Did you know that it is easy to save money on car insurance. The mistake most drivers make is not taking the simple step of looking for the cheapest motor insurance. Instead, drivers simply accept the insurer’s renewal quote, mainly because they feel satisfied that the amount quoted is less than what they paid the previous year.

We will be comparing quotations that are generated by PolicyStreet and iBanding for a Proton Saga 1.3L Premium 4 Speed Automatic. The driver has a 30% Non-Claims Discount (NCD).

After inserting the car and owner details, below are the list of companies that are offered by PolicyStreet and iBanding to renew the car insurance. There is a list of 6 companies offered by PolicyStreet while iBanding offers a list of 4 companies.

Cheapest on PolicyStreet is RM809.33

Based on the list from PolicyStreet, the cheapest insurance is from Pacific & Orient which cost RM809.33 for a sum insured of RM33,300. The most expensive on the list is from Allianz which cost RM945.72 for a sum insured of RM35,000.

Cheapest on iBanding is RM654.60

Based on the list from iBanding, the cheapest insurance is from Etiqa which cost RM654.60 for a sum insured of RM33,000. The most expensive on the list is from Takaful Malaysia which costs RM869.00 for a sum insured of RM35,800.

In doing this comparison, we will be taking a closer look at the rates offer by a few insurance company from Policystreet and iBanding. As you can see from the lists above, AXA Malaysia and Syarikat Takaful Malaysia are the only 2 companies that are offered by both PolicyStreet and iBanding. Therefore, we will be comparing the rates offered by AXA Malaysia and Syarikat Takaful Malaysia through PolicyStreet and iBanding.

On PolicyStreet, the price of motor insurance from AXA is RM819.67 for a sum insured of RM29,000. Note that you cannot change the sum insured shown with PolicyStreet. The only way you can change the sum insured is by contacting PolicyStreet via WhatsApp.

On iBanding, you can change the sum insured manually. To make this a fair comparison, we have set the sum insured to RM29,000 as well. As you can see, the price of motor insurance from AXA is RM745.90 on iBanding for the same sum insured of RM29,000.

This means that you will save RM73.77 when you buy AXA motor insurance through iBanding’s special link. On top of that, you will also receive RM40 cashback when you use iBanding’s special link. This gives you a total saving of RM113.77. This is a saving of 14.9% of your money when you use iBanding.

On PolicyStreet, the price of motor insurance from Takaful Malaysia is RM903.70 for a sum insured of RM32,600. Once again, note that you cannot change the sum insured shown with PolicyStreet. The only way you can change the sum insured is by contacting PolicyStreet via WhatsApp.

On iBanding, you can change the sum insured manually. Once again, to make this a fair comparison we have set the sum insured to RM32,600 as well. As you can see, the price of motor insurance from Takaful Malaysia is RM822.30 on iBanding for the same sum insured of RM32,600.

This means that you will save RM81.40 when you buy motor insurance from Takaful Malaysia through iBanding’s special link. On top of that, you will also receive RM10 cashback when you use iBanding’s special link. This gives you a total saving of RM91.40. This is a saving of 10.6% of your money when you use iBanding.

There are several differences between PolicyStreet and iBanding. As you can see, the most notable difference is the price. Based on the comparison above, you can see that iBanding helps you save a lot of money compared to PolicyStreet. Let’s take a look at other differences between PolicyStreet and iBanding.

When you renew with iBanding, you will receive cashback that are paid directly to your bank account. These cashback ranges from RM10 to RM150. This means that you can earn money while you get the cheapest price on car insurance.

On the other hand, PolicyStreet does not provide any form of cashback when you buy car insurance through them.

Insurance companies usually give a 10% rebate when you buy online. As you can see from the quotation below, with iBanding there is a 10% rebate of RM85.15 given by the insurance company. This rebate applies when you are buying car insurance from any company through iBanding’s special link.

On the other hand, there is no rebate shown in the quotation from PolicyStreet.

With iBanding, you will be charged a lower service tax. The reason is because the overall price of your car insurance is always cheaper when you renew through iBanding. With a lower overall price, you will be charged a lower service tax. As it can be seen, the service tax on PolicyStreet is RM51.09 while the service tax on iBanding is RM45.98.

By renewing with iBanding, you save RM5.11 on service tax. This is about 10% lower compared to the service tax on PolicyStreet.

When you click to renew with iBanding through the special link, you will be directed to the official insurance company webpage where you can proceed to buy your car insurance. This shows that iBanding does not charge you any additional fees. You buy directly with the insurance company at the price that iBanding offers you.

When you click to renew with PolicyStreet, you will remain on the PolicyStreet webpage up until you complete your puchase. This means that you are buying from PolicyStreet instead of directly buying from the insurance company.

Compare the URL’s below: policystreet.com and axamotoronline.com

As you can see, iBanding is CHEAPER! To conclude, here is a table that shows the difference between PolicyStreet and iBanding.

As you can see, iBanding is the WINNER. When you choose iBanding to renew your car insurance, you are buying 25% cheaper, with cashback, with 10% rebate, with lower service tax and buying directly from the insurance company. Even though PolicyStreet offers more number of companies, it is not the cheapest compared to iBanding. Start saving your money now by choosing to renew your car insurance through iBanding.

Malaysia has been hit with one of the worst flood recently. As a result, many cars have been affected. Malaysian largest car manufacturer, Perodua recently reported that more than 11,000 cars have been sent to their service center for repairs due to water damage. Repairing a water damaged car is very costly since it involves many mechanical and electronic parts. The only way to save money is by having flood protection as an add-on with your car insurance. Flood protection is one of the most important add-on when you get car insurance today. Our previous article, discusses on the types of flood protection and the benefits of having flood protection. You can read it here.

In this article, we will be comparing the prices of flood protection from a few insurance companies in Malaysia. In doing this comparison we will be using a 2015 Proton Persona SE-4 Speed Automatic. The driver earns 55% NCD. A sum insured of RM14,000 to RM14,100 is used in the comparisons below.

Overview of compared companies

• Etiqa Motor Insurance and Takaful
• AXA Car Insurance
• Syarikat Takaful Malaysia
• Berjaya Sompo Motor Insurance
• Allianz Motor Comprehensive Insurance

Etiqa offers 2 types of flood coverage add-on, the basic flood coverage and the extended flood coverage. First, let’s take a look at the basic flood coverage. This coverage cost RM35 and protects your car from floods, landslides and thunderstorm. This coverage is an additional of 5.3% to the basic contribution.

The extended flood coverage cost RM70 and provides additional protection for your car. In addition to flood, landslide and thunderstorm, this coverage also protects your car from heavy rain and extreme weathers, especially in rural areas. This coverage is an additional of 10.7% to the basic contribution price.

AXA offers only one type of flood coverage in their add-on. This add-on will protect your car against damages due to flood, landslide, storm and many more for the full sum insured of your car.

This add-on from AXA cost only RM30 and is an additional of 3.7% to the basic premium price.

Takaful Malaysia offer flood coverage through an add-on called ‘special perils’. This add-on protects your car against loss or damages caused by natural perils such as flood, storms, landslides and many more.

This add-on cost RM70.50 and is an additional of 8.9% to the basic contribution price.

Berjaya Sompo offers flood protection in their motor insurance policy as one of their benefits called “special perils coverage”. There is no need for an extra add-on to get your car protected against flood, storm, landslides and more.

The flood protection that Berjaya offers covers up to RM10,000 only or 20% of your sum insured, depending on which value is lower. This means that :

• If your sum insured is RM10,000 then Berjaya will cover RM2,000 maximum for your car repair cost.
• If your sum insured is RM50,000 then Berjaya will cover RM10,000 maximum for your car repair cost.
• If your sum insured if RM100,000 then Berjaya will cover RM10,000 maximum for your car repair cost.

If your car repair cost is more than RM10,000, you need to pay the remaining amount on your own.

Allianz offers flood protection through an add-on called “special perils”. This add on covers loss or damages to your car caused by flood, storm, landslide, sinking of soil and many more.

This add on costs RM28 which is about an additional of 3.4% to the basic premium price.

The table shows the flood coverage offered by 5 companies arranged from the cheapest. The table shows prices and the percentage that you will pay in addition to the basic contribution. It can be seen that Berjaya Sompo offers no additional cost for their flood coverage. Allianz is the cheapest at only RM28 for an additional of 3.4% to the basic contribution. On the other hand, Etiqa’s extended flood coverage is the most expensive at RM70 which is an additional of 10.7% to the basic contribution.

If you do not want to spend extra for flood coverage, then you should consider Berjaya Sompo as there is no additional cost for the protection. However, this protection is very limited. It covers only up to RM10,000 maximum or only 20% of your sum insured, depending on which is lower.

We suggest you to buy this flood coverage only if your sum insured is below RM50,000. If your sum insured is above RM50,000, we strongly advise you not to choose Berjaya Sompo as your car repair cost might not be fully covered and you need to pay the remaining cost on your own.

If you want the best flood protection, we advise you to choose AXA as it covers repair cost up to the full sum insured of your car. This means that your flood coverage will offer the same level of protection as your basic sum insured. In addition, it is also cheap at RM30 and only 3.7% extra to your basic contribution price.

Which Car Insurance Has Flood Coverage

Is your renewal coming up? No time to look for the best deal or compare prices? Get the cheapest price and best deals online when you renew your car insurance with iBanding.

Only few insurance companies pass on the benefits of lower prices

Did you know since 2016, insurance prices are down 30%, but only half of Malaysians get the savings. We provide exclusive cashback from selected companies to keep more in your wallet and more value in for your car.

How does iBanding help?

iBanding helps you secure the insurance you want. We take everything you want into consideration and give you a detailed analysis to help you renew your car insurance.

We constantly scan the internet for you to guarantee the best deals from the top insurance/takaful companies. We provide you with exclusive cashback when you renew your car insurance with iBanding. iBanding also keeps a comprehensive list of insurance/takaful companies ranked by customer service level, user reviews and web-page friendliness. We only provide deals from the best companies.

How can you take advantage of this?

Simply drop your information down in the link below. You will get back a free market comparison with exclusive cashbacks and internet deals.

Are you a Grab Driver or plan to become a Grab driver? Then you know already that Grab is pushing you to buy car insurance from specific insurance companies because Grab has special agreements with those companies. In this article, you will learn if you should buy Daily E-Hailing Insurance or your Yearly E-Hailing Insurance.

Grab Daily E-Hail Insurance

When you drive as a Grab driver, you have two ways to purchase insurance. The first one is to buy insurance as and when you are a Grab Driver. When you decide to drive Grab, you can pay between RM 1-2 for the insurance. It is a bit like on-demand. When you are not driving, you do not pay extra for insurance. But when you plan to drive, you will pay RM 2 for the Grab insurance only. Here is a list of insurance companies that offer Grab insurance on demand. When you have bought insurance from the companies, you can buy the Grab insurance on-demand.

• Berjaya Sompo (online 10% discount)
• Etiqa Takaful (online 10% discount)
• MSIG Malaysia (online)
• Chubb
• Allianz
• AmAssurance
• Kurnia
• MPI Generali
• Tokio Marine
• RHB Insurance
• Liberty Insurance
• AXA Affin
• Zurich
• Zurich Takaful

Grab Annual / Yearly e-Hailing Insurance

Besides buying Grab insurance daily, you can also buy insurance as a Grab Driver yearly. This way, you do not need to buy it separately every time you drive for Grab. The yearly Grab insurance is also much cheaper if you are a full-time driver or you drive more than 120 days a year. The cheapest Grab annual insurance is provided by Berjaya Sompo, which costs about RM 240 per year. This is RM 0.66 per day and much less than the RM 2 that other insurance companies charge for on-demand insurance. In the list above, you find direct links to the three companies that offer car insurance online together with annual e-Hailing. When you buy car insurance online, you can save extra on your car insurance. To read about the best yearly Grab Car Insurance you can also check out our article:Best Car Insurance for Grab Drivers

Save with an annual plan

If you plan only to drive Grab once or twice a week, then Grab Daily E-Hailing insurance is the better and cheaper choice for you. If you drive Grab more than two times a week, then an annual Grab Insurance plan is cheaper. You can save over 70% on your car insurance compared to Daily E-Hailing insurance. Full-Time Grab Drivers will always save money on a yearly E-Hailing insurance plan than the daily. So if you are full-time Grab Driver, buy the yearly plan directly.

Top 5 Travel Insurance in 2019 for Malaysia

Are you looking for cheap and affordable insurance for your motorcycle? Find below a complete list of insurance and takaful companies that sell motorcycle insurance online and offer discounts.

We have checked over 20+ local Malaysian insurance and takaful companies, and we have found only two companies that offer motorcycle insurance online. The good news is that insurance companies offer a 10% discount when you purchase your motorcycle insurance online. Berjaya SOMPO offers with SOMPO Motorcycle Malaysia’s first user-friendly motorcycle insurance online.

What is important when you buy motorcycle insurance?

Liabilities to third part for injury, death & property damage

This protection will pay for any damages that you cause to other people. If during an accident you injure someone, then the insurance will pay for the medical bills of that person. If you damage someone else’s car, motorcycle or even house fence, then the insurance will pay for the damages that you have caused.

Loss/damage to own vehicle due to fire or theft

This protection will pay you money when your motorcycle is stolen or damaged by a fire. A fire can happen if your motorcycle is standing next to a building that is on fire. The likelihood of fire is smaller than theft, but in the past, it has happened, and it is good to have protection for it.

Loss/damage to own vehicle due to accident

This insurance protection will pay for the repair or will pay you money when your motorcycle is damaged. In Malaysia, it is mandatory to have motorcycle insurance so that you can pay for the damages that you cause others. But it is not compulsory to have insurance for your motorcycle. If you have an accident and the other person was at fault causing the accident, then that other person will pay for the repair of your motorcycle. But if the policy determines that you were at fault, then you have to pay for your repair. The comprehensive motorcycle insurance will also pay for the damages of your motorcycle when it is your fault.

You can find more detailed information about the different types of motorcycle insurance here. 

Why only 2 companies with discount on Motorcycle Insurance?

The Motor Detariffication in Malaysia has started in 2017 with car insurance. Out of the 20+ Malaysian companies more than half have started to adjust their prices to the driving behavior. This has made car insurance much cheaper for car owners who drive save. Only in 2019, insurance companies start to adjust prices for motorycles and start to offer them online. Out of the 10+ companies that offer car insurance online only 2 have started. In the coming months, we expect that more companies will start to offer motorcycle insurance online.

Top 5 Car Insurance Companies in 2019 for Malaysia

Are you a Grab driver in Malaysia? Make sure that you have the right insurance, so that when you have an accident, the insurance will not deny your claim. Find out which company provides the Best insurance for Grab drivers.

In this article, we will describe what insurance a Grab driver needs and what protection it provides. Not every car insurance is suitable for Grab drivers, so you must carefully check your insurance. Find a list of the best insurance for grab drivers that can be purchased online.

For many Malaysians becoming a Grab driver is an easy and straightforward way to earn a few extra ringgit on the side. So it is not very uncommon for Grab drivers to have a full-time job and only drive Grab part-time. In the early days, being a Grab driver or an Uber driver was something new and unique. Many taxi drivers did not like the new competition, because it meant fewer guests for them and less income.  But Grab makes taking a ride more pleasant, safer and more comfortable for tourists who always had to haggle over the price or be afraid to get scamped.

Commercial insurance for Grab drivers is expensive

One big problem for Grab drivers was to get the right car insurance. If the insurance company had found out that the accident happened while being a Grab driver, then the claim would have been rejected. The reason for rejection is that the car was not used privately, but for commercial purpose. Commercial purpose means that the vehicle was used to make money. Individual insurance for Grab drivers did not exist yet, and there was no best car insurance for Grab drivers out there.

The right car insurance for Grab drivers is crucial

A Free Malaysia Today article “GrabCar drivers told to make personal reports for insurance claims” describes, where a Grab driver was refused their insurance claim because the car was used for Grab. When you use your vehicle for commercial purpose, then you need to get different insurance, which is called commercial insurance. All taxi and busses have commercial insurance. Commercial insurance is much more expensive than private car insurance because the car is much more often on the road, and the risk to get into an accident is higher. However, buying commercial car insurance for part-time Grab drivers is too expensive. So in the early days, many drivers took the risk and drove Grab with regular private car insurance.

e-Hailing insurance is custom made for Grab drivers

Today, Grab has become the norm very much and is well integrated into the Malaysian infrastructure. Many places offer now dedicated spots for Grab drivers to drop off and pick up customers. Today insurance and takaful companies have also adopted the new trend and provide individual insurances that allow part-time Grab driver to be fully protected. This new insurance is called e-hailing. Read on to find out which car insurance company offer the best insurance for Grab drivers in Malaysia.

Best Car Insurance for Grab Drivers in Malaysia

What does e-Hailing insurance protect in Malaysia?

e-Hailing is the term used to describe when someone uses a mobile device to call for a car for pick up. In Malaysia, insurance for Grab drivers is offered as an Add-on to the private car insurance. So when you purchase your car insurance or car takaful, you can add-on e-Hailing like windscreen cover to protect you while working as a Grab driver.

Car Insurance for Grab Drivers need to cover 4 key areas:

• Loss or Damage to your own car, when used commercially
• Liability to Third Parties, when used commercially
• Legal liability to/of fare-paying passenger
• Driver Personal Accident

Loss or Damage to your own car, when used commercially

Protection for “Loss or Damage to your own car” is the protection you get, when you purchase regular comprehensive insurance in Malaysia and use the car privately. However, when you are a Grab Driver, and even if it is only part-time, then this protection does not exist for your regular insurance. It is difficult to prove that you are not using your car for Grab if you are registered with Grab. Using your vehicle to be a Grab driver is considered commercial use and you will need to have commercial insurance. The e-Hailing add-on will provide you with the added protection for commercial use.

Liability to Third Parties, when used commercially

Similar to “Loss or Damage to your own car, when used commercially”, you will need to extend your “Liability to Third Parties” from private use only to commercial use. When you purchase an e-Hailing add-on, then your protection is extended to commercial use as a Grab Driver.

Legal liability TO fare-paying passengers

When you are driving passengers as a Grab driver, and you get into an accident, then your passengers might sue you for any damages or injury. For example, during the crash, an expensive camera of your passenger broke, and he now wants you to pay for it. You are responsible for it. Thus you are liable for it. E-Hailing insurance will pay for the broken camera to the passenger.

Legal liability OF fare-paying passenger for a negligent act

It almost reads like the previous protection of “Legal liability to fare-paying passengers”, but the difference is in detail. This is the responsibility of the passenger that drive with you. For example, if a passenger opens a door and a motorcycle drives into the door, you have two parties with damages. Number one is the Grab driver because your car door is broken. So you want to get the money from the passenger.

Number two is the motorcyclist. The motorcycle might be broken, and the motorcyclist might be injured. The motorcyclist wants to get his damages paid and will look at you the Grab driver first because you are the vehicle owner.

In both cases, the “Legal liability of fare-paying passenger for negligent act” will help you get paid for the damages to your door and the motorcyclist.

Driver Personal Accident

This coverage is optional and a nice to have for any Grab driver, who cannot afford to buy Life insurance. In our article “How to buy the cheapest life insurance“, we have described two alternatives to full life insurance: Term Life and Personal Accident.  Many e-Haling add-ons provide Personal Accident insurance for the driver so that in case of a severe accident, the family is left with enough money to adjust to the new life situation.

Not all companies offer Car Insurance for Grab Drivers online

As of the time of writing, only 3 insurance and takaful companies offer insurance for Grab drivers online. There are a couple of other companies that also provide coverage for Grab drivers, but to buy the add-on, you need to contact an insurance agent. For example, Chubb Insurance Malaysia Berhad offers e-hailing on their webpage, but they do not provide a way to purchase it online.

For a sample car with the sum insured of RM 55000, Berjaya Sompo Motor has the cheapest price and offers critical protection for Grab drivers.

Summary Best Car Insurance for Grab Drivers

1. Berjaya Sompo Motor e-Hailing
2. MSIG Motor e-Hailing e-Zee
3. Etiqa Malaysia e-Hailing

Best Travel Insurance in Malaysia – 2019 Ultimate Guide

Need to renew your car insurance in Malaysia? Are you looking for insurance that follows Shariah principles? Check out our independent Top 3 list of the Best Car Takaful in Malaysia.

iBanding is an independent insurance and takaful education webpage committed to providing you with unbiased information. We research and collect reviews and ratings from actual Malaysian car owners and help you find the right takaful for your car.

Malaysia has over 20 insurance and takaful companies that sell car or motorcycle insurance, and it is not easy to find which one is the best. The choice becomes easier when you are looking for Shariah-compliant car insurance that is called car takaful. In Malaysia, four big companies sell car takaful.

• Etiqa Takaful
• Syarikat Takaful Malaysia
• Takaful Ikhlas
• Zurich Takaful

Every year we conduct an online survey with over 10,000 Malaysian car owners to find the best car takaful company. Out of the four takaful companies, three companies received a 5-star rating, and one company received a 4-star rating. This rating is similar to the quality level at hotels. A 5-star hotel provides better service than a 3-star hotel. A 5-star takaful company has proven to provide better service to its customer than a 4-star takaful company.

Here are the three companies that received a 5-star rating in 2019.

Top 3 Car Takaful Companies (reverse order)

3. Takaful Ikhlas

2. Syarikat Takaful Malaysia

1. Etiqa Takaful

2019 Top 3 Car Takaful Companies in Malaysia

1. Etiqa General Takaful
2. Syarikat Takaful Malaysia
3. Takaful Ikhlas

Top 5 Car Insurance Companies in 2019 for Malaysia

Top 5 Travel Insurance in 2019 for Malaysia

Need to renew your car insurance in Malaysia? Check out our independent Top 5 list of the Best Car Insurance in Malaysia. 

We are an independent insurance education webpage committed to providing independent information. We research and collect reviews and ratings from actual Malaysian car owners and recommend insurances.

Malaysia has over 20 insurance and takaful companies that sell car or motorcycle insurance, and it is not easy to find which one is the best. Every year we conduct an online survey with over 10,000 Malaysian car owners to find the best car insurance companies. Five insurance companies have received 5-star ratings from us. This rating is similar to the quality level at hotels. A 5-star hotel provides better service than a 3-star hotel. A 5-star insurance company has proven to provide better service to its customer than a 3-star insurance company.

Here is the complete list of the top 5 Malaysian insurance companies of 2019 that have received 5-stars from their customers.

Top 5 Car Insurance Companies in 2019 for Malaysia (reverse order)

5. MSIG Malaysia

4. Etiqa Malaysia

3. Tokio Marine

2. Allianz General

1. AXA Affin General Insurance

2019 Top 5 Car Insurance Companies in Malaysia

1. AXA Affin – AXA SmartDrive and AXA FlexiDrive Car Insurance
2. Allianz General – Motor Comprehensive
3. Tokio Marine – Tokio Now Car Insurance
4. Etiqa – MyEtiqa Car Insurance & Takaful
5. MSIG – Car Insurance

Top 3 Car Takaful Companies in Malaysia