What does the policy cover?
Apart from the legal liability to third-party for bodily injury or death e.g. when you accidentally run over an unfortunate soul, Pacific and Orient Third Party Fire & Theft policy will also indemnify you in case your vehicle get caught in an accidental fire or was stolen.
How much should I insure?
To be safe, it is advisable that you insure your vehicle at the current market value. For example, the sum insured for a new car will be its purchase price, whereas for existing car is its current market value at the time of loss.
This will form the basis of determining the total premium you need to pay. If you want to get an idea of much your car worth, check your vehicle market value here.
What if there is no claim within the policy year?
If you have not made a claim for a continuous period of 12 months you will earn a no-claim discount (NCD), which will be applied every time you renew your insurance.
Think of it as a reward for being a good driver: the scrupulous you are by keeping claim-free years of insurance, the higher the NCD, which is up to 55% by the way, you will get.
Interestingly, you can enjoy great discount when you renew your insurance every year!
Can I cancel my policy?
You can do so by writing to Pacific and Orient Insurance Co Berhad within seven days from the date of cancellation. You will be entitled to a refund of the premium ONLY for a cancellation that occurred within 8 months of the period of insurance.