Owning a car is a big investment and risky business too – don’t believe me? Google the statistics for car accidents and burglaries in recent months.
But don’t let fear-mongering take over your dream as MSIG Insurance has got your back!
What does third party fire and theft provide for me?
MSIG Third Party Fire & Theft policy covers the legal liability against third party bodily injury and death. In other words if someone gets terribly hurt in an accident which you are at fault for, the insurance company will compensate them on your behalf. The same applies if you have caused damage to their property.
Moreover, you can also claim from MSIG Insurance if your beloved car 'disappears' from your porch due to burglary or is damaged by accidental fire.
How do you determine the premium?
Whether you are buying or renewing your car insurance, the total premiums of this policy will be determined by the following requisites:
- Value of the vehicle
- Engine capacity
- Sum Insured
- Age of Driver
- Gender of Driver
- Occupation/Education of Driver
- Place of Residence
- Claim History.
Terms and conditions?
This is a cash-before-cover policy; therefore, it is imperative that you should insure your car at an appropriate amount to avoid incurring any uncovered costs.
And, if there is more than one person helming your vehicle, it is advisable to name them under this policy, or risk paying a penalty of RM400 in the event the unnamed person is involved in an accident when driving your insured vehicle.