QUOTE(poweredbydiscuz @ May 22 2025, 02:45 PM)
No la. They will pay you the market value sum in case of total loss.
I think you read term and condition properly, what KenM is true.Insurance overvalue my car, Charging higher premium
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 May 22 2025, 02:49 PM
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Senior Member
7,938 posts Joined: Mar 2014 
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May 22 2025, 02:51 PM
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Junior Member
675 posts Joined: Jun 2014
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try etiqa,sompo,takaful,MyEG, i try etiqa cannot too low from the previous insured
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May 22 2025, 03:03 PM
Show posts by this member only | IPv6 | Post
#23
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Junior Member
449 posts Joined: Aug 2005
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can pm me i will quote lower market value for you
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May 22 2025, 03:05 PM
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Senior Member
3,835 posts Joined: Oct 2011
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QUOTE(Zot @ May 22 2025, 02:49 PM) I think you read term and condition properly, what KenM is true. That is the last resort and it's rarely happen. The first option by insurance companies is always pay the sum. |
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May 22 2025, 03:10 PM
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Senior Member
5,831 posts Joined: Jun 2017
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QUOTE(knight_hawk @ May 22 2025, 05:31 AM) I have a nissan livina xgear 1.6 bought in 2018. Bought it for 75k. I recently checked with tukar, and a few dealers, all offer below 20k as used car price. My insurance valued my car at 43.5k last year and this year is valuing it at 43k. If you can confirm the insurance cpg quoted your car worth 43K officially, then there is pros and cons. Firstly its a scam to say my dropped only RM500 in 1 year. Secondly, insurance says if total loss, they only pay market rate, less than 20k. When i ask for lower valuarion they offer only at 41k. Should i change insurance, but which one is good? Anyone can recommend? Should you suffer total lost, then they have to pay up 43K. Because they have officially say the market rate of your car is 43K. Your choice |
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May 22 2025, 03:12 PM
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Junior Member
104 posts Joined: Jun 2020
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QUOTE(knight_hawk @ May 22 2025, 12:31 PM) I have a nissan livina xgear 1.6 bought in 2018. Bought it for 75k. I recently checked with tukar, and a few dealers, all offer below 20k as used car price. My insurance valued my car at 43.5k last year and this year is valuing it at 43k. When you checked with the dealers, is that offer for your car or how much it costs for you to buy the same car? Cos dealers will offer you below market rate. That's where their margins come from. You need to check how much does it cost to buy the same car if you're looking for market rate.Firstly its a scam to say my dropped only RM500 in 1 year. Secondly, insurance says if total loss, they only pay market rate, less than 20k. When i ask for lower valuarion they offer only at 41k. Should i change insurance, but which one is good? Anyone can recommend? |
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May 22 2025, 03:57 PM
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Junior Member
6 posts Joined: Dec 2005
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I renewed mine in Apr 2025 with Liberty Insurance.
Livina xgear 2016 model. Agreed value = 36.3k |
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May 22 2025, 04:29 PM
Show posts by this member only | IPv6 | Post
#28
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Junior Member
192 posts Joined: Oct 2020 
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QUOTE(poweredbydiscuz @ May 22 2025, 01:45 PM) No la. They will pay you the market value sum in case of total loss. this is what i was told…( but will recheck)Attached thumbnail(s) 
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May 22 2025, 04:38 PM
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Senior Member
3,582 posts Joined: Oct 2007 From: everywhere in sabah
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QUOTE(knight_hawk @ May 22 2025, 12:31 PM) I have a nissan livina xgear 1.6 bought in 2018. Bought it for 75k. I recently checked with tukar, and a few dealers, all offer below 20k as used car price. My insurance valued my car at 43.5k last year and this year is valuing it at 43k. https://www.mycarinfo.com.my/MarketValueFirstly its a scam to say my dropped only RM500 in 1 year. Secondly, insurance says if total loss, they only pay market rate, less than 20k. When i ask for lower valuarion they offer only at 41k. Should i change insurance, but which one is good? Anyone can recommend? check your car's market value here |
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May 22 2025, 04:41 PM
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Junior Member
608 posts Joined: Jul 2009
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go for agreed value than market value
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May 22 2025, 04:46 PM
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Senior Member
719 posts Joined: Apr 2009 From: KL
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QUOTE(knight_hawk @ May 22 2025, 12:31 PM) I have a nissan livina xgear 1.6 bought in 2018. Bought it for 75k. I recently checked with tukar, and a few dealers, all offer below 20k as used car price. My insurance valued my car at 43.5k last year and this year is valuing it at 43k. ya u should. ur insurance firm is sucking ur blood! change to the one that accepts ur market value. MISG/PnO/Sompo/Takaful/Etiqa etcFirstly its a scam to say my dropped only RM500 in 1 year. Secondly, insurance says if total loss, they only pay market rate, less than 20k. When i ask for lower valuarion they offer only at 41k. Should i change insurance, but which one is good? Anyone can recommend? |
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May 22 2025, 05:16 PM
Show posts by this member only | IPv6 | Post
#32
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Junior Member
191 posts Joined: Aug 2009
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QUOTE(TOMEI-R @ May 22 2025, 01:09 PM) Make sure you get Agreed Value when purchasing insurance. I buy direct from their hq, no agent involved. Not agreed value, hq cust serv said in email if total loss will pay market value only.Agreed Value means that your car is insured based on an amount that the insurer and you have agreed on. I would say you puchased your insurance through an agent which is "ahem:" not so honest in insuring your car. We dont "overquote" on car values because this will lead to arguments if there are any instances of claims. |
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May 22 2025, 05:17 PM
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Senior Member
7,938 posts Joined: Mar 2014
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QUOTE(poweredbydiscuz @ May 22 2025, 03:05 PM) That is the last resort and it's rarely happen. The first option by insurance companies is always pay the sum. I remember that there are two option. Something like Agreed value and Market Value. The Agreed one is slightly higher but you get full insured value. The other one you get current market value. I just use the market one  jackytiong liked this post
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May 22 2025, 05:21 PM
Show posts by this member only | IPv6 | Post
#34
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Junior Member
191 posts Joined: Aug 2009
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QUOTE(MR_alien @ May 22 2025, 02:09 PM) no such thing as wrong value In 2023 car waa valued at 45000the price u got from dealer is how much they think it's worth for that condition...and dealer usually lowball the customer when they want to sell it(they have to make profit from it) what insurance company give u is the real market value of the car u CANNOT sell your car at market value....if you want to sell your car same as market value, your car has to be in immaculate condition what figure insurance companies give are roughly the same and is the market value of the car different from the figure dealers would give In 2024 valued at 43500 In 2025 valued at 43000 Its impossible my car only depreciate 2k from yr 6 to yr 8. |
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May 22 2025, 05:24 PM
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Junior Member
581 posts Joined: Jun 2008
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Adui, sendiri go website sendiri renew save 10% no need teh agent. go compare what7 you want all the top 3 insurance enough.
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May 22 2025, 05:28 PM
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Senior Member
3,582 posts Joined: Oct 2007 From: everywhere in sabah
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QUOTE(knight_hawk @ May 22 2025, 05:21 PM) In 2023 car waa valued at 45000 refer to post #29 to check yoursIn 2024 valued at 43500 In 2025 valued at 43000 Its impossible my car only depreciate 2k from yr 6 to yr 8. all insurance companies are using the same tools for market value there are a lot of factors that affect a car's market value instead of a fixed amount every year never use dealer's value to determine market value because one would never sell at market value dealer's value is how much the car is worth for him at that condition |
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May 22 2025, 05:50 PM
Show posts by this member only | IPv6 | Post
#37
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All Stars
24,222 posts Joined: Mar 2007 From: Kuala Lumpur
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QUOTE(knight_hawk @ May 22 2025, 05:16 PM) I buy direct from their hq, no agent involved. Not agreed value, hq cust serv said in email if total loss will pay market value only. What was your previous insurance company? If you need a quote pm me. |
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May 23 2025, 10:54 AM
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Junior Member
795 posts Joined: Mar 2005 From: Seri Kembangan / Kota Bharu
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Insurance companies are using ism.net.my for market value.
Btw, quick search shows your vehicle current value is around 39,000 If you don't want to argue about market price when accident happen, just go for agreed value |
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May 23 2025, 01:17 PM
Show posts by this member only | IPv6 | Post
#39
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Junior Member
192 posts Joined: Oct 2020
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don’t forget.. at time of insuring is x… but if unlucky and accident, the market value may have dropped!..
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May 23 2025, 05:00 PM
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Junior Member
70 posts Joined: Aug 2014
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QUOTE(knight_hawk @ May 22 2025, 12:31 PM) I have a nissan livina xgear 1.6 bought in 2018. Bought it for 75k. I recently checked with tukar, and a few dealers, all offer below 20k as used car price. My insurance valued my car at 43.5k last year and this year is valuing it at 43k. just go ask for other insurance to quote.Firstly its a scam to say my dropped only RM500 in 1 year. Secondly, insurance says if total loss, they only pay market rate, less than 20k. When i ask for lower valuarion they offer only at 41k. Should i change insurance, but which one is good? Anyone can recommend? most of them can do online. ez |
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