Malaysia auto insurance protects against financial loss to the policyholder in the event of an accident, fire or theft. Malaysian law requires every car driver to own an auto insurance policy. It is a guarantee that the car owner has enough liability cover to pay for damage to other another person by the insured car.
Types of Malaysia Auto Insurance
Insurance companies offer three basic types of Malaysia auto insurance policies:
- Third party insurance pays for damage or bodily injury to other people caused by an insured vehicle.
- Third party, fire and theft cover offer benefits of the earlier policy plus added coverage in the event of fire or theft.
- A comprehensive Malaysia auto insurance policy is highly popular among individuals. It provides basic third party coverage, along with a lot of additional and optional covers.
What does a Comprehensive Auto Insurance Policy cover?
Auto insurance is not just about protecting the vehicle against damage due to an accident, it is also essential to secure the people sitting inside the car. A third party cover or fire and theft cover will not protect the individual against personal injuries or losses. Thus, a comprehensive insurance policy is a must buy for all car owners. Additional benefits included in a comprehensive Malaysia auto insurance policy are: