What is the QBE Private Car Third Party Motor Insurance all about?
The QBE Private Car Third Party Motor Insurance covers Liabilities to third party e.g. bodily injury, death , and property damage. This policy, however, does not cover the following:
- Loss or damage to the insured vehicle and its accessories and spare parts
- Loss or damage to insured vehicle due to accident
- Loss or damage to insured vehicle as a result of 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 (Malaysia) Berhad's underwriting requirements. Apart from this there will be a few risk assessment factors that will go into your premium calculation including some of your details as a driver.
What are the fees and charges that I have to pay?
10% of your premium is charged as commission to your insurance agent and a RM10 stamp duty is applicable.
What are some of the key terms and conditions that I should be aware of?
- Importance of disclosure: You must disclose all material facts such as previous accidents and modification to engines. Failure to disclose material facts or advise on the modifications may result in claims not being paid or a reduction in the claim payment.
- You must ensure that your vehicle is insured at the appropriate amount.
- The excess, that is the amount of loss you have to bear if your vehicle is driven by a person not named in your policy.
- Claims procedures: A written notice should be submitted to your insurance agent within 30 days of the accident.
- Cash Before Cover (CBC) Basis: This means that you have to pay before your cover commences.