What is the Takaful IKHLAS Comprehensive Motorcycle about?
This Takaful Certificate provides coverage in the event of loss or damage to your vehicle as well as third party legal liability. It covers the death or injury to a third party, as well as damage to a third party’s property as a result of an accident arising out of the use of your vehicle.
What are the Shariah concept applicable?
- Tabarru’ - means donation for the purpose of solidarity and cooperation among the Takaful Participants and to be used to help Takaful Participants in times of misfortune. In the context of Takaful IKHLAS, Tabarru’ will be allocated into the Risk Fund.
- Wakalah - means agency. In this context, it refers to a contract between Company and the Takaful Participant where the Takaful Participant authorizes the Company to manage the fund on his/her behalf, which allows the Company to charge a Wakalah fee.
What are the covers / benefits?
For loss or damage to own vehicle,
- accidental collision
- impact damage caused by falling object provided that they are not acts of nature
- fire, explosion, or lightning
- malicious act
- burglary, theft
For liability to third parties,
- Death or bodily injury to a third party
- Damage to a third party's property
Are there any optional benefits?
To ensure the maximum protection for your vehicle, you can extend your coverage with these optional benefits by paying additional contribution.
- Strike, riot and civil commotion.
- Damage arising from flood, typhoon, hurricane, storm, tempest, volcanic eruption, earthquake, landslide, landslip, subsidence or sinking of the soil/earth or other convulsion of nature is involved.
- Passenger liability cover.
Duration of cover is for one year. You need to renew your Takaful Certificate annually.
How much contribution do I have to pay?
There are several factors that will affect your premium calculation. Some of them are risk assessment factors that include personal details of the driver as well. Here are some of the things that might increase or decrease your premium rates;
- Value of the vehicle
- Engine capacity
- Sum Insured
- Age of Driver
- Occupation and Education
- Place of Residence
- Claim history