What is the QBE Private Car Third Party Fire and Theft Motor Insurance all about?
The QBE Private Car Third Party Fire and Theft Motor Insurance covers your liabilities to a third party, be it another motorist or pedestrian - includes bodily injury, death, and property damage (crashed into a parked car or neighbour's gate?) as well as loss or damage to your vehicle as a result of a fire and theft.
How much premium do I have to pay?
The total premium that you have to pay may vary depending on the No-Claim Discount (NCD) entitlement and QBE Insurance's underwriting requirements - they'd most probably look at the age of your car, your motor insurance claim history, and the type of vehicle you drive. Premium paid for a Perodua MyVi might be different from someone owning a four-wheeler Toyota Prado.
What are some of the key terms and conditions that I should be aware of?
You must disclose all important information regarding the ownership of your car such as previous accidents and modification to engines. Failure to disclose such facts or even given false information may result in claims not being paid or a reduction in the claim payment. Second of all, you will have to pay an excess - that is the amount of loss you have to bear if your vehicle is driven by a person not named in your policy and is involved in an accident. This amount will usually amount to no more than RM400.
But most importantly, remember to make your premium payments, as this policy follows a Cash Before Cover (CBC) Basis. This means that you have to pay before your insurance can cover for any damages or compensate other motorists in an accident.
What do I do if i want to make a claim to QBE?
A written notice should be submitted to your insurance agent within 30 days of the accident.
What are the major exclusions under this policy?
While there's an endless list of situations this insurance policy will not cover, here are a few important ones to remember:
- Loss or damage to the insured vehicle and its accessories and spare parts
- Loss or damage to insured vehicle due to accident
- Your own death or bodily injury due to a motor accident
- Your liability against claims from passengers in your vehicle
- Loss, damage or liability arising from an act of nature i.e flood, storm or landslide
- If the vehicle is driven whilst under the influence of alcohol or drug
- Motor sports or competition