Can tell me which car insurance company is the best?

There's no best company lah.
However, my company has 7 insurers to pick from, i myself use allianz because of their very good and reliable roadside assistance (personal experience).

yup, i heard allianz is good in road assistance, i think they provide 100km free towing.
i myself have been using motortakaful/etiqa for the past years.. they provide free 50km towing, more than that is chargeable per km.
i have been receiving money (dividend?) every year as well, more than 200+ for this year.
more importantly, i can renew my insurance online with additional 10% discount, on top of NCD.

For me, the definition of good insurance consist of

1. Fast/easy approval on claim
2. Accept by majority workshop

as what i know, Alliance, Tokyo marine and another 2 company (i forget the name) are quite prefer by most workshop.

Try avoid jerneh, when you got accident, very hard to find workshop to do jerneh claim

Which insurance can renew online or at branch to take advantage of the 10% discount ?
At present renewed online at Kurnia but car must below 10 years , @ discount 10 % and also at branch for 10% discount.

Allianz easier, faster to claim, Kurnia slower . Done claim with both before. Allianz, Kurnia, Axa free limited towing. Kurnia unlimited towing with a small fee.


This post has been edited by magika: Nov 25 2015, 08:52 AM

Not all car insurance company is the same. Some have free limited towing others have 24 hours assist only. Kurnia claims slow , Allianz faster. I have claims before from Kurnia and Allianz and still have a pending theft claim from Kurnia.

as far as i know, all insurance companies will give you the discount if you renew at the branches. reason being the discount is actually the commission given to those runners/agents.

note aside: i think without knowing how fast their claim processing is, one can check which insurance company has the best free towing service...

any recommendation on good 3rd party insurance?

experienced AIG before, not bad though. can try.

does road tax expiry date same with insurance expiry date?

Usually yes, because you can't renew your road tax until you have renewed your car insurance.

thanks, do u know what is difference between market value, agreed value, and floor limit - which determining the sum assured?

Market Value
Purchasing your Motor Insurance on Market Value would be like the name itself, paid upon the most current market value of your car.
Take for example:
My car is worth 100k now. So I buy the insurance on the current market value at 100k.
At the end of the year, I get into an accident and experience a total lost. I want to claim my car insurance.
At the same time, my car is now only worth 75k on average in the market. Insurance will also pay at the market value and that is 75k.

Agreed Value
Purchasing your Motor Insurance on Agreed Value would be more straight forward. However, I will be insuring my car at a higher value.
Take for example:
My car is worth 100k now. The Agreed Value given to my car is 107k, at a slightly higher premium. So I insure my car for 107k.
At the end of the year, I get into an accident and experience a total lost. I want to claim my car insurance.
At the same time, my car is now only worth 75k on average in the market. Fortunately for me, I insured my car at an agreed value of 107k. So the insurance will pay at the Agreed Value of 107k.

Floor Limit would generally mean the minimum amount to insure.
This is usually at RM10,000, for cars valued below RM10,000.

10q for the detailed info!

Jiuhwei, can list which insurer company provides Agreed Value? thanks

I provide agreed value

This post has been edited by JIUHWEI: Dec 9 2015, 11:41 AM

one more ques, i wonder floor limit is classed at market value or agreed value?

anything like so called recommended insurance company for particular brand of car?

ppls said like local car, better go for Company A. German car go for Company B, and so on.

Allianz does not give the discount at their branch for walk-in customers. So, I had to get AXA instead.
Have been using mostly Etiqa previously due to the 10% discount. Wouldn't recommend them due to their poor towing terms and customer support.

Usually none of my customers reach floor limit yet...
Floor limit - market value. It's a minimum to even quote anything otherwise the insurance company actually lose money from just taking your business. The moment you sign, they lose money just to process your file.

No such thing. All still pay with Ringgit.

I have AXA (3rd party) , excellent towing service, tow a few times a year due to old car. All paid by AXA, wonder what is your issues .....

I would recommend AXA due to free towing and 3rd party coverage.

So those insurance renewal online is Kurnia only plus 10% discount also at branch office.
Etika also 10% discount at branch but online renewal, free towing ?

This post has been edited by magika: Dec 9 2015, 05:03 PM

reason on acquiring floor limit is for very old car, more than 15 yrs. anyway, does 3rd party insurance, cover towing for own car in case of accident? or everything is about 3rd party only?

do u mean AXA Affin General Insurance?

where to apply? pos office?

http://www.pos.com.my/post-offices/financi...ices/?insurance

Include towing.... 7.50/year only.

Not all company give free towing, some say 24 hours hotline, but not free towing. AXA provides 3rd party but free towing included.

Insurance agencies should have it. My insurance agency says its the cheapest and no need PA.
I recently cancelled the insurance as i have sold of the old car and the refund process takes more than a month.

Unlimited distance ? Which company ? Have 10 % discount, online renewal ?

i thought of walk-in to pos office to renew with AXA 3rd party.

btw, do u know what documents they will need?

this website gives brief info on car insurance comparison:

https://www.imoney.my/car-insurance

is the free towing service provided by insurance company, limited to per trip? or can max up the number of KM defined regardless of how many trips?

there was a scenario where my friend car involved in an accident in the midnight, and the car needed to be towed to police station for report and photo-shoot, but the police camera-man was not around (went out for case), so no choice the car needed to be towed back to workshop and have to come back again another day for police camera-man to take photo.

the workshop person in charge mentioned, only 1 trip included, more than that they charged. my friend paid additional rm100 to the workshop for the 2nd tow service.

FYI, the insurance company was AIG, applied from MyEG.

Err, I didn't say I had any issues with AXA, only that I prefer Allianz.

Etiqa only can tow 1 time per incident. Either tow to home or to workshop. Getting their customer service on phone is difficult and their service is slow. They also have very high market value on the cars compared to some other insurers. Very high and unreasonable. If you choose lower amount, they will consider you as self-insured and will only honour partial claim.

Allianz uses agreed value, which is a great thing.

Only need geran will do. In case of Kurnia branch renewal , need photocopy of IC.

AXA, Kurnia free towing limited distance around 50km not included toll charges. If pay extra insurance charges, for towing I believe around 600km roundtrip. So far, tried towing 3 or 4 times per year still no problem. Kurnia, once I tow back home during night. Next day request tow to workshop still free.

Accident towing, this one a bit complicated. Why need pay workshop for additional towing ? If involved in accident, call insurance company to request for towing, usually tow truck wil be around, can request insurance company to allow the onsite tow truck service. Usually before allowing towing at accident site, make sure negotiate every details with tow truck before allowing towing. In one case, I refused the onsite tow truck services. In another case, I was practically threatened by the onsite police officers to allow the onsite tow truck to tow. One must know ones right in all scenarios. In my case I told the police that if they want, they can tow but I am not paying.

AIG only covers one trip. Additional towing need to pay directly to towing company

Post office, remind me of an incident a few years back. I told my son to renew at a local post office, Twice he went, and post office esay system offline. I went personally, and was also told system offline. I demanded to know why no notices has been displayed of system offline as I queued for half an hour. Then was told because of too many customers, they decided not to do insurance renewal. I say no problem, I insist and say will put in my application and come back later in the afternoon to collect. Faced with such a customer they reluctantly agreed. So I wnet back to my office, before I reached it, their staff discussed among themselves and decided to be little Napoleons, they call me and refused to renew my insurance. Simple matter to me , as I called their HQ and lodged an official complaint. A few minutes later, their officers at their local HQ called me and will attend to me personally at my office. Later I went back to collect, and the staff was stone faced all around.

Allianz claims are very fast as they don't need physical inspection by their adjuster. Did a claim with them on my daughter's car and was impressed. Pity no 10% discount at branch for renewal.

For me I wont pay, as not my problem. All insurance company clause stated 1 trip only. For that particular accident case, its not your problem as the tow truck should tow and leave it at the police station and then after all procces has been completed , tow it to your workshop.

Here I would like to info a bit, do not allow the tow trucks to dealt with two parties of the accident. 99% of the time , they will claim own damages so will lose NCB. If at fault then no problem.

There's no such thing as "free". Let's get this right.

Whatever offered such as a 50km towing is a value-added benefit, and frankly 50km is hardly any distance to boast about. Seriously. It is included for consumers to think about towing, and include more towing distance. Service providers are actually already charging the insurance companies a much cheaper rate in exchange for business volume.

Let's be real. In an unfortunate situation, the amount of time & expenses on you is way more than the 10% discount you apparently "saved".

i think, policeman will not allow the car parked there overnight, right? the tow-man mentioned they will not be responsible on the car if it is not tow back to the workshop.

u see, most of this ppls are some kind of rude ppls (sorry i don't mean all of them, u know i know we know), normally can't talk nicely with them and usually will feel threaten also.

Usually upon renewing/purchasing your car insurance, you should be receiving a car sticker (transparent road tax protector film) with some info behind it for the driver/passenger to see such as a roadside assistance hotline.

Any towing service or roadside assistance is all through that hotline.
Any other tow truck that magically appears in a matter of minutes/seconds, we call them scavengers. Don't entertain them. Wait for your service provider to arrive.

In an accident involving another vehicle or loss/theft, please call the agent to help you taichi with the police report.
We practice every day.

even the tow service assigned by insurance company, also some kind of ppl.

again, i don't mean all of them. i personally experienced also, maybe i was bad luck to receive such service, and i didn't lodge a complain to insurance company too.

Agreed, I use etiqa/motor takaful from maybank. 10% off and they also payback to you. I only wish there can provide 12 month interest free.

how cheap is 3rd party insurance compare with comprehensive one?

50% cheaper?

For cars that used for working purposes (within city) 50KM is more than enough. In an unfortunate experience , some of my car are insure thru agency, none have been able to help save for some common info.

I have a number of experiences with tow truck, as I have always says, their policy is to squeeze whatever profit they can. That's why nowadays I told my friends, always tow back for repairs to respective franchise workshop such as Perodua, Proton or Toyota, etc. My experience is that it will be better and wont lose out as genuine parts are used.

Just refused their services nicely and call the insurance company for help.

You have good service mentality. However it cant be said for the number of times that when I requested help insurance branch personnel. Just a word of caution, don't lie in the police report.

One of my cars is due for renewal. I did online compare just now with quotation from Kurnia and Etika. Etika is relative to kurnia 11% more expensive.

Nowadays different not much only. I used to have a 22 year old car insuring at 1st party Comprehensive.

which insurance company offers comprehensive cover for old car? normally beyond 15 yrs old car, can only opt for 3rd party

AXA ?

I personally use Allianz. For few years no more complaints from my clients and myself too

50km is from the moment the tow truck leave their premises. Even in city, it's pushing it.

Who said anything about lying in police report?

i got a quick quote from post office jz now on 3rd party insurance. minimum sum assured is 8K, UniAsia/Zurich around RM483.00 - for a 15 yrs old local car. if want to add towing service, surcharge of RM50 is applicable.

with the same sum assured, from AXA online, only 510.05 - COMPREHENSIVE!

why the hell 3rd party is more expensive then?!?!

note: ncd = 0%

This post has been edited by spreeeee: Dec 10 2015, 01:53 PM

To be frank, the personnel at the post office might not know what they are doing.

nowadays still got 3rd party insurance meh?

Almost all companies but come with loading

I think this information is for the benefit of everyone here.
Tell your friends too!

http://www.themalaysianinsider.com/citynew...s-says-pj-mayor

Yes, can apply at post office.

http://www.pos.com.my/post-offices/financi...ices/?insurance

thanks for sharing info

May I know where to get AXA for 10% discount with agreed value? From online, it seem quote for insured amount only.

Allianz

takaful malaysia

For me, Tokyo Marine

Why Honda car insurance must be with MSIG? Any reason or extra benefit? Can i switch to other insurance?

It's not a must. You can opt for other insurance companies. As for whether there are other added benefits, you may have to compare different insurance companies as under the current de-tariff regime, motor insurance offered by different insurance companies may have different added on benefits.

Go to their website on the motor insurance page and click on the get a quote button.

Yes, I go there the quote button end up with insured value only. I don't see option for agreed value til the payment process.😖

This post has been edited by reeve-826: Sep 18 2017, 01:57 AM

Going to have my 1st car anniversary soon on Feb. I already saving for it haha

Agreed value is for Allianz, not AXA. Read my previous post again. Allianz has no online discount as far as I know.

Just find out there is agreed value for AXA purchase online with additional 10% off.

That's great news!

online quote is sum assured not agreed value..may i know where did u get this from AXA?

I have a question, i have ask for the quotation from Etiqa(My current insurance), they do offer the 10% off discount, after trying AXA, i have put thru the same computation to AXA. The insurance to pay is actually RM100+ less, could there be something that i miss or omitted in the insurance calculation?

As AXA is done manually thru online. Thanks.

This post has been edited by haru20: Sep 19 2017, 01:43 PM

I have the same problem too...I got quotation from Allianz and Tokio Marine..both premiums quoted are higher than AXA.. and even higher than last year's premium although the sum insured is lower this year than last year..don't know how they calculate . Not transparent now with the detariff in place effective 1st July 2017.

Are u planning to jump ship and opt from AXA instead?

Anyone have used and transacted with AXA any comments is much appreciated.

Thank you.

With the detariff, BNM hopes that insurers will come up with competitive (additional benefits/service) and fair pricing but actually let the insurers decide on the premium based on the risk profiles of the drivers. So technically, the price will go up instead of down...Allianz and Tokio Marine as I know offer no additional benefits after detariff( same as tariff) but the premium actually went up 10%. I did ask them and they replied its based on your age, location and car model..full of B.S..My age will go up, location is the same, no accident claims, car market value went down - premium increase 10%. So how is it fair for consumers?Only burden us more...

Yes, I may consider AXA.

want to ask everyone on NCD , currently insurance policy with 0% NCD where the policy will be expired on 29 Sept 2017. If i sell the car now and transfer ownership at JPJ completed on 20th Sept 2017. However there is 9 days more to reach 1 year, i don't cancel the policy and let it til expiration date.

Will i have 2nd year NCD of 25% when i buy a new car next month?

which car model you selected?

I have used AXA insurance for a while now and its based on agreed value (wording used in the renewal policy). When I renew my insurance, will update whether the cost is higher as compared to previous year.

Hmmm... Noticed that the agreed value has declined from 1 year to another. So I guess the agreed value may be the market value at the time of renewal

This post has been edited by abcn1n: Sep 20 2017, 01:01 AM

Thanks

Agreed value is the consensus market value of the car.
As we know value of the car goes down when it is getting old.

Actually i try proceeding with the quotation for AXA, by proceeding further adding in the addition named driver and etc. The price actually come out the quite close to Etiqa quotation, just cheaper by Rm10-30.

Since the hassle of need to change provider and notify the NCD amt, i think i will still continue with my current insurance provider.

Thanks Cherroy.

For any who are interested, renewed my car insurance with lower cost. The new ruling don't seem to have caused any increase in insurance cost

called AXA to ask and the customer service said online quotation is based on sum insured. So need to double confirm on that.
I think for online renewal - AXA has the best online platform whereby you can get instant quotation for comparison.

For your car latest market value:
https://www.mycarinfo.com.my/Valuation/Free...rt?version=free

After comparing Allianz, Tokio Marine and AXA, I find AXA offers the best rate with the same kind of coverage.The difference is about 10%.

BTW, Allianz provides agreed value by default. So it is reasonable to find that premium quoted is higher than your car market value.

Looking at the competitive price, anyone used AXA before n can share experiences here. Thx

I thought all companies are the same, rates are regulated by BNM, except when you purchase value-added products, which does not make sense because you already rich enough to afford a premium-grade insurance compared to the minimum required insurance, because you likely own a more expensive car to require the value-added insurance, price should not be your concern.

AXA is a good company, road assist and claims are reputable. The only thing would be the market value of certain make/model of cars. Now in the market you can compare for market value and premium pricing.

Unless you have been renewing your insurance with Tan Chong then the value would be as what TC suggests.

Hi Bro, the premium rates are not different across all companies as well as the perks. The motor insurance market is facing de-tariffication so it is ideal to shop around. Try to avoid a few not reputable among workshops then you are safe.

I have renewed my AXA insurance with Tan Chong and forgo the 10% online renewal discount from AXA because Tan Chong offers 'no betterment' for up to 10 years old car.
And with Tan Chong, it is based on Agreed Value and not Sum Insured value.

That's great ! betterment up to 10 years is very important. and TC normally recommend a high agreed value for Nissan/ Inifiniti cars.

Thx for the infor.

So far no complaints and ez to claim?

May I know what dies the betterment up to 10 years mean?

Normally if you do not renew with franchise the betterment for spare parts would be 5 years while franchise can offer up to 10 years. It means that up to 10 years you are entitled to new parts replacement in the event of a claim.

Yeap so far no complaint. AXA is good , rest assured.

Means with the same insurance company? not with the service workshop ho.
Sorry if I misunderstood you ya.

Found this in AXA website;

"No extra costs


No loading for cars up to 10 years old and insured value between RM20,000 to RM300,000"

so meaning no loading is better?

Different insurance companies will have their own betterment guidelines. In many cases, if you renew with agents, your betterment for new parts is only up to 5 years. While if you renew with franchise car dealerships, they normally offer up to 10 years to be more competitive in the market.

This means that as long as your car is within the 10 years old mark, you are not subjected to loading but your sum insured has to be wthin 20K to 300K. If it goes below 20K then you are subjected to additional loading.