What is the Allianz Third Party Fire and Theft Insurance about?
Owning a car makes traveling easier but it also brings with it a lot of responsibilities. With Allianz Third Party Fire and Theft Insurance, enjoy your ride and worry less when you park at an unfamiliar place, damages caused by fire, or injury to other motorists.
In a nutshell, the Allianz Third Party Fire and Theft Insurance provides coverage for fire damage to your vehicle and theft of your vehicle. At the same time you will be covered against third party liabilities to other parties for death or bodily injury and damage to other parties’ property.
Is this policy renewable?
Yes, it is an annually renewable policy for vehicles.
What are some of the important terms and conditions of this policy?
When subscribing to Allianz Third Party Fire and Theft Insurance, it is crucial that you disclose all material facts such as previous accidents and modification to your prized set of wheels. In your insurance policy, you will often come across the word excess which means the amount of loss you have to bear in the event of an accident. On top of that, ensure that your vehicle is insure at the appropriate amount and is maintained in a roadworthy condition.
Lastly, auto insurance is a Cash Before Cover policy - you have to make payment for issuance of cover note and policy before coverage takes effect.
What are the fees and charges that I have to pay?
You will have to pay 10% of your premium as a commission to your insurance agent, a RM10 stamp duty, and 6% of your premium for service tax. Don't worry though, this amount will already be added to your premium payment.
What are the major exclusions under this policy?
This policy does not cover certain losses such as:
- Accidental damage to your vehicle;
- Your own death or bodily injury due to a motor accident
- Your liability against claims from passengers in your vehicle.