Hi all, my car insurance need to be renewed soon. Currently on Zurich but damn expensive

Any suggestion on other insurance company with cheaper rates? I heard takaful is cheap. Ok to go with this one?

Cheap no good .... good no cheap ... heard b4?

Anything wrong with takaful?

Pm car make model years cc.

afaik car insurance more or less are the same for all companies.
probably varies between 10-20% depending whether got any loading or other factors.

if cheapest imo is takaful malaysia that gives 15% cashback for no claim

Previously posted on
https://forum.lowyat.net/index.php?showtopic=4617458&hl=

My comparison took me to Etiqa.
Takaful maybe cheaper in long run with 15% more cashback after maturity


This post has been edited by dudester: Jul 23 2018, 08:12 AM

agreed, can do online summore.
past 3 years i use etiqa motortakaful online, but this year i changed takaful malaysia coz got online n cheaper.
this month i try motortakaful for my sis, website changed n no more 10% online rebate .
want to use takaful online instead but the NCD data stil not updated

EDIT:
etiqa got rebate 10%, ady inclusive.
NCD data updated. for axia G (27k, NCD 33%)
etiqa = 766
takaful = 698

This post has been edited by hafizhans: Jul 23 2018, 09:07 AM

Etiqa all the time. now very good. they automatically insured based on agreed value. And no need to named second driver as they will cover all drivers now.

motortakaful is another different company iinm.

I believe Etiqa has two different unit. Normal Etiqa and Etiqa Takaful.

Takaful is not the insurance that use Islamic way of doing business. If the insurance makes money, hey will distribute back profit after deducting all other expenses. That is why you get you money back after insurance cycle complete. Takaful is provided by other insurances also.

Last time on other car, I picked Takaful as it was cheapest if you include the 15% rebate if no claim.
This time i ended up with Etiqa as it allow a lower agreed value then Takaful. With no GST now, a lot more cheaper.

This is true, 2nd driver info is redundant, should just default cover.

Whatever. A vs B below.

A. https://online.takaful-malaysia.com.my/Motor

B. https://www.etiqa.com.my/getonline/motor-insurance

Just like WaCKy-Angel said, all insurances are about the same because it is governed by rules from BNM on minimum coverage. The difference are on additional coverage provided, which is to attract possible customers. The 10% doscount that you usually through online application is basically the commission to insurance agent.

For my Perodua, I just get it from Perodua because the rate given is cheaper than any other insurance. This is because the special rate is given to Perdua customer only. If you buy same insurance for other car, the rate is no more special. Probably your car dealer can have the same scheme. So, it worth to check them out.

The confusion is because the insurance use the name Takaful Malaysia. I was confused as well in the beginning. Last time when I want to apply or renew my Etiqa, I have to choose either Etiqa or Takaful. I think I tried both and end up the same. SO, I chose Takaful and get refund after a year.

Probably now they streamline both, I'm not sure. I'm using different one now

Ur car still within warranty period?
I checked b4 renew at Perodua is not cheaper compared to outside but they do provide no betterment charges.

I was expecting this to be true but like i did in my reference post, with same vehicle value, all kinds of prices come out with different insurers.

Still under warranty. I compared to several online insurances like Etiqa and even the same insurance provided by Perodua online. They are more expensive for same coverage. I asked the agent in Perodua about it. I was told this was special for Perodua customer. Probably it is not Perodua throughout Malaysia. Just between this insurance agent and that branch

Your 1st link is Takaful Malaysia

This is the correct link for Etiqa Takaful
https://www.motortakaful.com/getonline/motor-takaful
https://www.etiqa.com.my/getonline/motor-insurance

As mentioned the base insurance (just insure vehicle excluding other stuffs) are usually more or less same price coz its governed by BNM.
Other stuffs such as passenger liability and/or windscreen although also governed but diff companies may have much different price.

Last but not least, does Etiqa gives 15% cashback? This really changes the "price" alot after cashback.
I cant find it in their website.

Thats why its cheaper. coz under warranty usually they expect less issue thus lower premium.
Try check again after warranty expired.

If you read the term and coverage, they are slightly different, last time I looked at it. It is just that their standard package are different. Some think they are well known and customer will come to them even if slightly higher. So, they are thing things that are optional with other insurance are included as standard.