What is the Tokio Marine Third Party Fire and Theft Motor Insurance about?
This policy provides insurance against liabilities to other parties for injury or death and damage to other parties’ property, and fire damage to your vehicle or theft of your vehicle.
What are the covers or benefits provided?
This policy covers you for:
- Third party bodily injury and death, limits is unlimited
- Third party property loss or damage, limits is up to RM3 million
- Loss or damage to your own vehicle due to fire, explosion, lightning, burglary, housebreaking or theft.
By paying additional premium, you can also opt for optional benefits such as passenger liability cover. Duration of your policy is for one year. To stay covered, don't forget to renew it annually!
What are the fees and charges?
In addition to your premium amount, you must also allocated funds for the service tax (if any), which constitutes 6% of your premium amount and a RM10 one-off stamp duty. Your premium is already inclusive of 10% of commission paid to the insurance intermediaries.
What are not covered from this policy?
Some major exclusions are accidental damage to your vehicle, your own death or bodily injury due to a motor accident, and your liability against claims from passengers in your vehicle.
Do I get a refund of my premium when I cancel my policy?
You may cancel your policy at any time by giving a written notice to Tokio Marine Insurans. Upon cancellation, you are entitled to a refund of the premium based on pro rata if your vehicle has been insured continuously for more than 12 months or short-period rates Refund premium is allowed provided no claim has arisen during the then current Period of Insurance.