What is the Tokio Marine Third Party Motor Insurance about?
This policy provides insurance against liabilities to other parties for injury or death and damage to other parties’ property.
What does it cover?
Third party bodily injury and death, limits is unlimited; and third party property loss or damage, limits is up to RM3 million. Optional benefit that you may wish to purchase by paying additional premium is passenger liability cover.
What are some key terms and conditions that I should take note of?
The Importance of Disclosure, whereby you must disclose all material facts such as previous accidents and modification to engines. If your vehicle is still under Hire Purchase, you need to buy a Comprehensive Cover because this policy does not cover loss / damage to your vehicle.
What are the major exclusions of this policy?
This policy does not cover certain losses, such as:
- Accidental or fire damage to your vehicle or theft of your vehicle;
- Your own death or bodily injury due to a motor accident; and
- Your liability against claims from passengers in your vehicle.
This list is non-exhaustive.
Can I cancel my policy?
Yes, you may by giving a written notice to Tokio Marine Insurans (Malaysia) Berhad. Upon cancellation, you are entitled to a refund of your premium if your if your vehicle has been insured continuously for more than 12 months or short-period rates provided that no claim was made during the period of insurance.