QUOTE(jimmyteng18 @ Jan 10 2018, 01:30 PM)
Guys, for bike insurance topic. Need some advise.
Kapcai bike was given to me by my brother in law which registered under his company.
So, it's time to renew insurance. Current insurance has all rider coverage bcos it was meant for his employees to use.
Since I'll be the only one to ride it, do I need to add in all rider coverage?
Thks.
In current market condition, most insurers are reluctant to offer single rider - unless if you're renewing existing policies that is already single rider to begin with, or the agent doing your renewal is a favoured agent that the insurer is willing to accommodate. for every other channels then their stand is all-rider is a must.
although owner can die die insist that they're the only one in the household to ride the bike, there is no guarantee that someone else, whoever he/she might be, wont be riding your bike. imagine if your bike is stolen, and the thief crash your bike. if your bike is recovered and need to repair, insurer wont pay repair claim if you only have single rider coverage (and then some ppl cry insurance cheat people one), but with all-rider then they can cover. that is in situation where sendiri crash without involving anyone else.
IF kena accident with another people, insurer is compelled by law to pay for claim from the other people that you/he/she had accident with. so in other word, they collect less premium with single rider but still have to pay for loss caused by someone not insured to ride your bike. so if u think it is unfair for you, do you think it is fair for the insurer as well?
QUOTE(mtalltheway @ Jan 10 2018, 09:06 PM)
There are no best available in the market. All insurance are scheme to take your money whether u like it or not. Best is pay the minimum with maximum coverage..walk on that line
how much would kapchai insurance cost anyway...?
2 years back when i renew my GT128 punya, the premium difference between 3rd party and 1st party all rider (sum assured 4k) is only just in a few tens of rm. might as well go 1st party all rider, not to be penny wise pound foolish.
QUOTE(happyshm13 @ Jan 10 2018, 04:12 PM)
Hi all, so which insurance company is the best available in the market currently? In terms of price & services.
semua company pun ada ppl complain punya. just go whichever you are convenient with.
pricing wont differ much for now since detariffication is still fresh and insurers are still taking a wait-and-see approach. plus the fact that BNM sudah bagi instruction say cannot deviate more than 10% (tak kira up or down) from last year's tariff rates, so it is unlikely there is any difference these 1-2 years. unless any insurer go gung-ho do extra-ordinary thing, most insurer would rather wait and study the trend dulu before changing anything. that, and not to forget - have to get BNM approval.
This post has been edited by andrewhtf: Jan 11 2018, 10:25 AM