REV_Auto Insurance Coverage Options That Fit Your Needs

Friday, May 07, 2021 0 Comments A+ a-

Auto Insurance Coverage Options That Fit Your Needs

Accidents happen on the road all the time, and when they do, your auto insurance coverage is what protects you and keeps your finances safe and sound. It doesn't matter if the accident is your fault or not; your auto insurance coverage should help you.  So how much car insurance coverage you need is up to you, and how much you pay for it depends on different factors and the insurance company. But first, to determine the best coverage that suits your needs, you need to understand the common types of auto insurance coverage available in Malaysia.

Types of Auto Insurance Coverage in Malaysia

Depending on your choice, there are three types of auto insurance policy in Malaysia:

·         Third-party cover

·         Third-party fire and theft cover

·         Comprehensive cover

 

They may look similar, but they all offer different protection when you dive deep into the details. For example, third-party auto insurance coverage only covers the repair cost of other people's cars involved in the accident–not you or your car. The same goes to third-party fire and theft insurance, but with the addition of protection to loss or damage caused by fire and theft. 

 

The table below explains more to decide which coverage is best suited for your needs.

 

Policy

What the policy covers

What is not included in the policy

Third-party

·      Third-party bodily injury

·      Damage to third-party’s car

·      Damage to third-party’s property

 

·      Injury or death to first-party (i.e., you and your passenger)

·      Legal fees for your injuries

·      Damages to your car in case you caused the accident

·      If your car is stolen, damaged, or destroyed by fire.

·      Damages to your personal belongings

·      Damages to your windscreen, window, or sunroof

 

Third-party, fire, and theft

·      Third-party bodily injury

·      Damage to third-party’s car

·      Damage to third-party’s property

·      Theft of your car

·      Damages incurred on your car due to attempted theft (for example, broken door locks, windows, or stolen audio and accessories.

·      Damages incurred on your car due to fire.

 

·      Medical expenses for your injuries

·      Legal fees for your injuries

·      Injury or death to first-party (i.e., you and your passenger)

·      Damages to your car in case you caused the accident

·      Damages to your personal belongings

·      Damages to your windscreen, window, or sunroof

 

Comprehensive

·      Third-party bodily injury

·      Damage to third-party’s car

·      Damage to third-party’s property

·      Theft of your car

·      Damages incurred as a result of attempted theft (for example, broken door locks, windows, or stolen audio and accessories.

·      Damages incurred on your car as a result of a fire.

·      Damage to your vehicle due to accident

 

 

·      Injury or death to first-party (i.e., you and your passenger)

·      Damages to your personal belongings

·      Damages to your windscreen, window, or sunroof

 

 

To determine what works best for you, think through these issues.

Personal Injury and Personal Liability

It's advisable always to put you and your family's safety first. Personal injury or personal liability coverage should be given utmost importance when deciding the insurance package.  

Uninsured Drivers

Don't trust other drivers because chances are they are not insured. More so, please don't take for granted that they will have as good coverage as you do. However, it can be hard to fathom that you will have to pay from your insurance for someone else's mistake if the at-fault driver is not insured; however, it's better than forgoing this policy and risking losing your vehicle.

Major Accidents

It would be best to think about the worst-case scenario when deciding the auto insurance you will purchase. What if your car is destroyed in an accident and needs to be replaced? Or it was damaged as a result of riots or natural disasters. In these cases, you'll only be able to rely on your insurance, and it is better to have enough protection to fully repair or replace your car.

 

Deciding the best coverage for your needs shouldn't have to be complicated. At FIncrew auto Insurance, we help make this decision easy for you. We provide affordable car insurance rates from different insurance companies so you get the best auto insurance deal that is personalised for you and your family.