Understanding Auto Insurance in Malaysia

What is Auto Insurance?

Auto insurance is designed to protect drivers financially against the risk of being involved in a car accident and having to pay a massive amount of money over the physical damage and vehicle repair costs.

 

There are three types of car insurance available:

  1. Third-party cover

Third-party coverage is the most basic policy that any vehicle would require to be able to drive legally on the road. In the insurance world, the “first party” is the driver, the “second party” is the auto insurance company and the “third party” is everyone else.

 

This insurance only covers the third party but not you and your vehicle. It insures you any injuries or deaths caused to the third party, as well as loss or damage to the third party property caused by your car.

 

Since this coverage only insures the third party, therefore it’s the cheapest one among the other three types of insurance plan.

auto insurance

  1. Third-party, fire and theft cover

A third-party, fire and theft policy is similar to the third-party coverage. It does not only includes you against claims from third parties from injury, death, and loss or damage to their vehicle, but it also insures if your vehicle is damaged in a fire or stolen.

 

This insurance policy is pricier than the Third-Party coverage but more affordable than a Comprehensive coverage.

 

  1. Comprehensive cover

A Comprehensive auto insurance policy covers all of the above and more. With this coverage, you get to enjoy the same coverage as in a Third-party, fire and theft policy, but with the added coverage of damages to the first party.

 

This policy is the most popular in the market especially if you own a relatively expensive car, or for any drivers who would want to insure their vehicle against any unforeseeable events fully.

Conclusion

With auto insurance, you’ll feel more secure while driving your vehicle, knowing that you and vehicle are protected from the financial catastrophe that could result anytime from any accidents.

 

On top of that, you’re able to enjoy cheaper auto insurance premium each year if you don’t claim from the insurance company based on the No Claim Discount (NCD) system. Visit https://www.aig.my/personal/auto-insurance now to learn more about AIG auto insurance!

 

Learn What AIG Malaysia’s New Insurance Offering to Malaysia

AIG Malaysia has long been actively serving the nation with comprehensive insurance & risk management solutions based upon their individual & business needs since 1953. Presently, there is a large labour force comprising of eager brokers and agents operating in as a minimum 15 offices nationwide employing the main objective to serve clients up to the maximum standard of care.

AIG Malaysia: 360° Insurance Protection Plan

AIG knows that insurance and risk management plan is really essential to protect customers from the unforeseeable future. Therefore, they have offered unique variations of insurance packages that can be benefited by both corporations and people.

Having a property registered under one’s name is generally terrifying without insurance policy cover, mainly because it could cause an enormous loss the moment unwanted happens. Hence, the Malaysian government makes it obligatory to buying insurance whenever individuals get a car or even house. From the insurer’s side like AIG, they actually do their portion by ensuring the clients are fully covered from many kinds of risks which may be commonly associated with cars and homes. Get your new insurance or renew your car insurance online and husle-free with AIG. Visit at www.aig.my/personal/auto-insurance and renew is so easy!

car insurance Malaysia | AIG car insurance

Nonetheless, the most precious thing somebody might have is their own health and well being. Whilst it used to develop into a challenge for insurers like AIG to educate the community at large relating to the importance to purchase medical insurance, it has now seen a consistent escalation in numbers of purchases made on account of the time and effort they’ve already created to create awareness.

International buying and selling and lowest transportation cost have recently made regular travel for business and leisure lower priced. Because of that, the demand for travel insurance has increased substantially, which contributed to the offering by AIG in satisfying their customer’s needs to get a comprehensive insurance protection.

Insurance for Enterprise

For enterprises, a high-level risk management solutions are offered. From property insurance to liability insurance, marine insurance, aerospace insurance, not to mention engineering related insurance; enterprises can subscribe a versatile yet all-encompassing plan that serves their risk management needs.

There’s no doubt that this wide range of plan will be able to serve clients from all kinds of sectors, along with the lines of manufacturing, education, financial, transportation, aviation, and much more. In expressing their receptiveness for the difference in market trend along with a rapidly increasing amount of variety of startups, AIG has created an SME package that will help entrepreneurs protect their business when they grow.

Hence, companies and individuals who will be interested to subscribe to any kind of insurance coverage from AIG can certainly obtain a quote through their site. In addition, customers may be able to browse through the group of authorized agents within their residing place to acquire a more personal service.

AIG Malaysia is definitely attentive to the shifting trend of purchase that focuses much more on e-commerce. With that in mind, they also have recently worked alongside Lazada Malaysia for making insurance purchase accessible in the e-commerce platform. Upon purchase and after completing several quick steps in registration, customers could possibly have their insurance policies activated within just Three days.