Since the premium is exactly the same for the same coverage between Etiqa Car Insurance and Etiqa Car Takaful, why doesn’t everyone go for the Takaful option since the Takaful option typically results in a surplus sharing rebate of around 5%?

What is holding everyone back from completely ditching Etiqa Car Insurance?
Why does Etiqa Car Insurance exist?
Is there a downside to buying Etiqa Car Takaful?
Are non-Muslims worse off getting the Takaful option?

This post has been edited by contestchris: Feb 15 2024, 02:23 PM

All Takaful companies must give cashback for any insurance product, as long as their risk fund makes a profit in the year. Only exception if you made a claim during the year.

Etiqa Car Insurance has no cashback. They retain all profit for their shareholders fund.

Please provide proof to back your claim.

Yes have also. But it varies as to how much in % terms. All profits must be shared 50/50 between policyholders and Takaful operator.

Premium amount?

I also don't know that's why I'm asking.