- March 5, 2019
- Posted by: SmartGenie
- Category: Motor Insurance
As the name suggests, it is a comprehensive policy and it protects third party and damage or loss of property of your own car. With some additions, some policies may even cover you or the car’s passengers for any injury or even death.
Relatively newer cars can obtain comprehensive covers as it is expensive in comparison with Third Party and Third Party Fire and Theft covers. Generally, owners of expensive cars purchase this kind of a cover.
Under a comprehensive cover, claims can be made when you face either of the following:
- OWN CLAIM DAMAGE
When you have damaged your own car in an accident, you can claim for the same under a comprehensive cover. The process is pretty quick and you will not lose your NCD (No claims discount)
- NO FAULT DAMAGE
As the name suggests, when the accident was not your fault, under a comprehensive cover, you can claim for the damage occurred. Claiming this via the Third Party cover is usually time consuming. Hence possessing a Comprehensive cover is a plus!
- SPECIAL CASE – FAULT NOT DECIDED
In a case where the fault is not decided, it is advisable to still claim under No Fault damage as the payout may be more. If both parties decide to split the costs evenly, then by default the claims move to Own Claim damage.
CLAIMS UNDER ADDITIONAL COVER
By paying extra premium, certain additional covers are available under a comprehensive cover:
- Natural disaster: Damage occurring due to a flood, storm, typhoon, landslide and other kinds of natural disasters are covered under this insurance. Premiums are generally low, but if you stay in an area where such disasters occur often, it’s good to possess this insurance.
- Windscreen damage: At an additional cost, the windscreen insurance covers front and back windscreens. Door windows and the sun roof window are covered too. In case of damage, you will be paid for repair or replacement of the same.
- Communal riots or strikes: If any strikes, or riots happen and your car is destroyed/damaged, you are covered under this.
- Extension to a named driver: In the event of allowing another person drive your car, his/her name can be added to this cover which gives the same cover as that of the owner. In Malaysia, two driver names can be included in the policy at no extra cost. NOTE: If an accident occurs when one of the two named drivers are not driving, the insurance company will deduct an amount from the payout.
- All driver coverage: When a company car is being driven by various drivers, or a car for personal use is being shared by many drivers, then this cover is a must. Whoever is driving the car, will enjoy benefits of the plan.
In addition to the above it is also important to understand the legal liabilities:
- Legal liability for border countries: If you own a car in Malaysia and if you drive to Singapore often, two legal liability covers are compulsory.
- Legal liability of passengers: If any injury caused by the passenger in your car.
- Legal liability to passengers: It is the protection against passengers suing you for negligence.
Hence, out of all the types of Car Insurance policies in Malaysia, the Comprehensive cover protects you in most scenarios.
Malaysia has several insurance companies offering a variety of car insurance plans. Visit www.smartgenie.com to compare and get the best price for different policies.
Disclaimer: All information provided in this article/blog, published on this website is strictly for general information purpose only. SmartGenie does not provide any warranty about the authenticity and accuracy of such information. SmartGenie will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Please visit the websites of respective banks/financial institutions for more details about products.