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 How to check Car Market Value/Price, WTA

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cybermaster98
post Apr 21 2014, 02:18 PM

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From: Kuala Lumpur


QUOTE(khchong81 @ Feb 1 2011, 11:20 AM)
Hi all,
Can i know where to check current market value for car? Any website?
Use this:

http://www.insuranceinfo.com.my/help_and_a...ntPrefLangID=1&

Always make sure your car value is based on the values provided by ISM ABI. ISM was conceptualized in 1998 by the General Insurance Association of Malaysia (PIAM) as the Malaysian Insurance Rating Organisation (MIRO) project

https://www.ism.net.my/

There are a number of insurance companies which over-value your cars to make you pay higher premiums. Allianz is one of them.



cybermaster98
post Apr 21 2014, 02:28 PM

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QUOTE(lk33 @ Apr 21 2014, 02:22 PM)
I further add that the "true market value" derived from the popular used car portal is very conservative since it is "not yet negotiated asking price of sellers". Effectively I am saying that buying motor insurance based on the official motor insurance guides is akin to paying inflated premium prices.
Yes but if insurance companies use ISM ABI to determine car values, then you're quite safe.

When i checked the value of my car earlier, Allianz quoted me RM 130,000 while the link i provided which referenced ISM ABI valued it at only RM 100,000 which is the correct market value for my car.

So far i know that Zurich Insurance uses ISM ABI.

 

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