Do I need a car insurance?
It is mandatory under the Law of Malaysia for vehicle owners to insure their wheels against risk of damage to other party's property and for causing death and/or injury to other road users.
Without one, you are not only committing an offense, but also vulnerable to financial liability in case somebody claims from you for hitting them!
What can I get from Liberty Third Party Private Car policy?
As the name implies, Liberty Insurance will provide you the basic coverage against potential claims for death and bodily injury or property loss and damage from the third party, i.e. the person(s) you had accidentally bumped into.
How much premium I have to pay?
The amount of premium you have to pay may vary depending on a number of risk assessment factors and is also subject the insurer's underwriting requirements. But all premiums will be inclusive of GST and Stamp Duty charges.
Do my passengers technically protected too?
Technically not. However you can by including passenger liability cover over additional premiums. If your driving skill has been a major concern among family members and closed friends, then you should consider buying this coverage or risk getting sued by them!
Can I top up other benefits to this policy?
Unfortunately 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;
- Loss, damage or liability arising from natural disasters;
- Wear and tear, mechanical or electrical breakdown failures or breakages.
But if you want, you can always upgrade your policy.
How long is the coverage?
From the moment you start purchasing this policy, the duration lasts for one year. You will need to renew the insurance plan annually.