What is Pacific Comprehensive Motor Insurance all about?
This policy provides insurance against liabilities to other parties for injury or death, damage to other parties' property and accidental or fire damage to your vehicle or theft of your vehicle.
What are the additional covers or benefits provided?
- Windscreen damage
- Legal liability to passengers
- Legal liability of passengers
- Damage arising from flood and landslide
- Strike, riot, and civil commotion
- Additional name drivers
Duration of cover is for one year. You need to renew your insurance cover annually.
How much premium do I have to pay?
There are several factors that will be taken into consideration when calculating your premiums, among them are the following risk assessment factors;
- Value of the vehicle
- Engine capacity
- Sum Insured
- Age of the Driver
- Gender of the Driver
- Occupation or education of the Driver
- Place of Residence
- Driver's Claim history
Remember to try keeping your risk low to avoid paying higher premiums than necessary.
Apart from the premium, what other fees and charges that I have to settle?
Commission must be paid to your insurance agent. This constitutes 10% of your premium. Additionally, RM10 stamp duty is applicable.
Could you highlight some of the key terms and conditions?
It is crucial that you disclose all material facts e.g. previous accidents and modification to engines. You must also ensure that your vehicle is insured at the appropriate market value. Lastly, take not of your excess amount i.e. the amount of loss you have to bear in the event of a claim.