In our recent article, we detailed motor insurance coverage that a car owner would have to purchase upon getting a new car. From the three main types of coverage, selection of value, added services, and special perils, insurance companies provide additional options to the policy to help include coverage to areas that are not part of the standard plan. But what are the optional plans? Read on as we cover several choices that you might not know of, but could come in handy.
Windscreens, windows or sunroof
There is a high probability that you know an owner that has encountered a stone chip on their vehicle while driving on the road. Whether the incident cracked the windscreen, this additional premium extends the coverage to all exterior glass on a vehicle. This includes the front and rear windscreen, side window glasses, sunroof and even the cost of any tint or security film that you have applied on the glass. The add-on only costs 15% of the insured windscreen value but is an excellent addition as it does not affect your No-Claims Discount when making a claim.
Flood, typhoon, storm and landslides
It is natural to think your vehicle would be safe from floods and landslides. But with the torrential rain that Malaysia receives, you will be better off ticking this (part of the ‘special perils’ section) the next time you renew your motor insurance. Water damage is not a cheap fix and could cost you a significant sum especially if it involves mechanical parts. However, this add-on only costs 0.5% of the premium. So, if the vehicle is insured for RM70,000, this will only set you back by RM350.
Accessories fixed to your vehicle
Whether it is an expensive sound system, high-end rims and infotainment units, these items are not insured by your standard insurance plans. However, you can get these accessories insured with an add-on that will cost 15% of your annual coverage. While it may not seem like much, if you insure these items for RM10,000, the premium will set you back an additional RM1,500. It is best to check with the insurance provider on what is included, as it will be easier to decide on if it is worth adding.
Strike, riot and civil commotion
Strike, riot and civil commotion rarely occur in Malaysia, especially in tourist spots in the city. Your vehicle should be safe unless it is parked in open space, by the roadside, in a dark alley or amidst a planned protest. Despite costing only 0.3% of the insured sum, this option is seldom chosen unless you think it is necessary. To be on the safe side, be wary of where you park your car next.
Legal liability to and of passengers
Legal liability to a passenger comes into view when your passenger decides to take legal action on you for causing damage to their property or injury to a loved one. For example, accidentally driving into a gated home and colliding with the passenger’s mother. While the former is less likely to happen, the legal liability add-on coverage of a passenger extends to them should they have an accident that involves a pedestrian, cyclist or motorcyclist – such as opening the car door that accidentally injures the passers-by.
Betterment charges waiver
This only applies to a vehicle that is up to 15 years old. The older the vehicle, the betterment rates will be higher. Should the third party be fully liable for causing the accident, he or she will not be responsible for the ageing and depreciating value of the car. In practice, non-moving parts of a car such as the car door, bonnet, mud guard or boot cover, depending on the condition, will be repaired instead of replaced.
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