What can you do?
1. Learn about your motor insurance and understand what insurance cover you have.
Understanding your insurance today will help you better understand the difference between different policy types and companies. Learn what “Sum Insured” is and know what it is for your own insurance. If you want to learn more, start by reading our article on the different insurance types.
2. Compare prices among insurance companies.
A smart consumer will “Shop Around” to find a motor insurance company that offer the right product at the right price. Remember, your risk profile will determine your new insurance price. Each company may think of your risk differently, so that the price for insurance can be very different. You may not have the time to ask for price quotation from all the insurance and takaful companies, but a good insurance agent will be able to help you.
3. Secure your car
Make sure the alarms and auto-locks are working. Install a dash cam. Park your car at a safe location.
4. Think before buying a new car
Before buying a new car, check how much insurance price will cost. Sporty and high performance cars will have even higher insurance prices, because they are more likely to get into a speed accident.
5. Drive safely!
Your premium cost will increase if you have made claims in the past.
I hope that people will realize that, it (Detariffication) will affect their lives. If they choose to drive more carefully, it would save them money.
Anthony Lee, Chairman of General Insurance Association of Malaysia (PIAM)