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.

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?

Nowadays you can easily get multiple quotes from different insurance companies with just a few clicks.

change laa, now got more option coverage. i use Honda Insurance Plus, so cannot recommend for Nissan cars

go where clicks? Thinking to change insurance company.

when you renew, you can always ask for the lowest value, thats how I renew my insurance

Can start from Etiqa, quite seemless.

Almost every online platform selling insurance now - shitpee, tng, bjak.

They are some of the ones that will give u multiple quotes to compare.

This post has been edited by COOLPINK: May 22 2025, 12:45 PM

simple, change other insurance company. try alianz, etiqa or other online platform. so easy

how much are you paying for premium?

insured value high means anything happen, your car gets more coverage or you get compensated higher value.

The difference is 500 bucks from RM45k to RM25k.
but if you KO your car tomorrow, you can buy 2 biji 25k car....

Make sure you get Agreed Value when purchasing insurance.
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.

This post has been edited by TOMEI-R: May 22 2025, 01:11 PM

If so high, tell them change to agreed value better see how they react. If not, just change insurer

get multiple quote and also if u worry market value if gone then u just buy guarantee/agreed value but of course premium will be higher


if they accepted 43k and your car totaled for whatever reason ..even outside 20k they still compensate u based on 43k

This post has been edited by fantasy1989: May 22 2025, 01:36 PM

There are two types agreed sum and market value. If say your sum insured is 43k agreed sum will pay full but market value will pay the market value which is less than 43k that's all u need to know.

no such thing as wrong value
the 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

shop for others la. I got agreed value from etiqa and yes they always quote way above the market value but if you want agreed value then no choice.

i believe there’s 2 different types of insurance you can buy… the normal is the market price where the issued sum goes to replacing the vehicle… ie if total damage, they buy a second hand to replace ( market price).. the other is the agreed insured sum… meaning if you insured 10k, they pay 10k..

In your TnG eWallet...click/search for "CarInsure"

might as well go for 3rd party coverage only

No la. They will pay you the market value sum in case of total loss.

If you go to any insurance website, the market value is probably the same because insurance company take value from same poll. Normally you have freedom to increase or decrease to certain percentage allowed by insurance company with term and condition.

So, I don;t think there is over or under value. If you go to car dealer, the value most likely would be less because they want to buy cheap for more profit

I think you read term and condition properly, what KenM is true.

try etiqa,sompo,takaful,MyEG, i try etiqa cannot too low from the previous insured

can pm me i will quote lower market value for you

That is the last resort and it's rarely happen. The first option by insurance companies is always pay the sum.

If you can confirm the insurance cpg quoted your car worth 43K officially, then there is pros and cons.

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

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.

I renewed mine in Apr 2025 with Liberty Insurance.
Livina xgear 2016 model.

Agreed value = 36.3k

this is what i was told…( but will recheck)




Attached thumbnail(s)

https://www.mycarinfo.com.my/MarketValue

check your car's market value here

go for agreed value than market value

ya u should. ur insurance firm is sucking ur blood! change to the one that accepts ur market value. MISG/PnO/Sompo/Takaful/Etiqa etc

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.

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

In 2023 car waa valued at 45000
In 2024 valued at 43500
In 2025 valued at 43000

Its impossible my car only depreciate 2k from yr 6 to yr 8.

Adui, sendiri go website sendiri renew save 10% no need teh agent. go compare what7 you want all the top 3 insurance enough.

refer to post #29 to check yours
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

What was your previous insurance company? If you need a quote pm me.

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

don’t forget.. at time of insuring is x… but if unlucky and accident, the market value may have dropped!..

just go ask for other insurance to quote.

most of them can do online. ez

find an insurance with agreed value

Bjak

Etiqa

MYEG