What do you do if it’s 5.30 pm and you have just realized your car insurance is expiring tomorrow? Your insurance agent is out of reach (or you don’t even have one) and it is obviously too late to drive to an insurance or a MyEG branch.

So for the last minute shoppers like many Malaysians are, here is a guide to what you can do.

 

Guide to buying your motor insurance online

There are many insurance companies these days that sell online, refer table at the bottom of this article. We’ll take Syarikat Takaful Malaysia online portal and demonstrate the step-by-step procedures involved in buying a motor insurance policy.

Before we get started, here are the information you will need in order to make the purchase:

• Make, model
• Chassis number
• Import type
• Financing company
• Anti-theft equipment
• Safety features

Most information you will find either on your 1) current  insurance policy, 2) the renewal notice from your current insurance company or 3) on your vehicle registration card.

 

1. Go to: https://online.takaful-malaysia.com.my

Motor Takaful Malaysia’s online portal currently only offers Comprehensive insurance.

 

2. Personal details

Enter the following details:

 

3. Sum insured

There is an easy slider you can move to choose your sum insured. If you don’t see the slide, don’t worry, proceed anyway.

 

4. Vehicle details

If the system does not recognize your vehicle model (like it didn’t ours here), enter it manually. This is the most challenging part about buying insurance online. There are many details that you may not be familiar with. So it is wise to have your policy cover note on hand!

 

5. Selecting effective date

Make sure to select the date when the new policy should take effect. Mistake even by one day prior to the date will mean that you won’t be enjoying your new, higher, Non-claims discount (if no claims have been made against your expiring policy).

You can read a detailed explanation on NCD here.

 

6. Your quotation is ready.

Note the 10% rebate you get for buying online.

 

7. Select additional coverage you want

One unique feature that Takaful M. provides is the easy selection of additional cover. Here you can add windscreen protection. This is a very user friendly list as it explains clearly every additional cover offered.

8. Make payment

You can pay by debit or credit card, or online bank transfer.

 

9. Your policy is READY

That’s it. Your insurance policy is renewed for another year. You can download a hard-copy of your certificate here. Now you’ll need to purchase your road tax from MyEG.

 

Of course buying your motor insurance online isn’t the only solution available. And by no means it is the only option you have when you are purchasing at the last minute. Give yourself ample time to compare products offered by several companies in order to find the one best suited for your needs and budget.

Each method of purchasing motor insurance has its own advantages and disadvantages you should know about. So be sure to understand them before deciding on a method that you are most comfortable with. For more information, read 2017 Buying Guide for Motor Insurance/Takaful and Road Tax in Malaysia.

If you are used to buying through an agent and are now contemplating buying via online, either because of the lower cost or the convenience of buying anytime, anywhere, understand the advantages and disadvantages of buying motor insurance online here.