Guys,
I bought my City last year June, so insurance renewal has strikes me now.
I'm under Tokio Marine insurance (I think it's covered in HIP).
Bought the car at RM86k E spec, but now after 1 year, the insurance statement shows that:
Indicative Market Value: RM79,000
Policy Sum Insured: RM88,000
Premium Payable: RM1,750
I've read somewhere that you can't claim more than your car market value, so the statement is already over insured?
The market value I think also over valued, shouldn't it be -15% off purchase price?
get Honda Insurance Package, u get full value claim in 5 years from your car manufactured year.