What is AIG Comprehensive Motor Insurance about?
AIG Comprehensive Motor Insurance provides a financial safety net against damage to your own vehicle and your liabilities to other pedestrians and motorists such as injury or death and damage to their property as a result of a motor accident. But the real reason you'd want a comprehensive motor insurance is to cover road accident damage, fire damage, or theft of your vehicle - which this policy delivers!
What are the optional benefits of this car insurance policy?
By putting in extra dough, you can enjoy these additional benefits:
- Windscreen crack and break-in
- Special perils e.g. flash floods, storm, landslide - Strike, Riot, and Civil Commotion (SRCC)
- Your liability against claims from passengers in your vehicle
Remember, you won't be able to have additional coverage for your own death or injury due to an accident.
What are some terms and conditions that I should be aware of?
When subscribing to an auto insurance, it is important that you disclose all material facts e.g. previous accidents and modifications to your vehicle. In your insurance policy, you will come across the word "excess" which means the amount of loss you have to bear in the event of an accident. If your vehicle was driven by an unnamed driver i.e. a person not named in your policy, an additional excess of RM400 will be incurred.
On top of that, ensure that your vehicle is insured at the appropriate amount and is maintained in a roadworthy condition. Lastly, auto insurance is a Cash Before Cover policy i.e. you have to make payment for issurance of cover note and policy before your vehicle is covered.
How much do I have to pay just to be insured?
The total premium that you have to pay depends on several factors:
- The cubic capacity of your vehicle and the sum insured - this is regulated by the Malaysian Motor Tariff
- Underwriting requirements e.g. age, gender, marital status
- the age of your vehicle
- Your claims experience, which is usually reflected by your No Claim Discount ( NCD) entitlements or the additional cover that you choose