RoadTax & Insurance Talks (How much, agent, etc)

[izso]

I talked to Etiqa to renew my insurance, anyone below 21 or above 70 is subject to a 15% extra load on your premium.

[e_j_s]

er.. i need to double check cos I renew last year... haha... mayb is a totally new rule.. hang on

***edited***
alright, I have just call up my insurance company.. this is what they told me..
the age thingy, actually is a suggestion by Bank Negara.. is NOT solidate yet.. Is still in pending process... and IF it is implemented, the premium will based on the driver's age, driving experience, and if let say ur record is good(no claims before).. the extra premium wouldnt be charged...

I think u better ask the salesperson to show ur the T&C about that policy he was talking about.

k. There must be some calculation to justify the additional cost. My record is very good lehz.. NCD ady 38.33%.
I aldy send them an email regarding this issue. Waiting their reply...

Thanks for sharing. I think every insurance company practice different thing. Meaning to say that your car insurance company still pending on this cost la..

[e_j_s]

I talked to Etiqa to renew my insurance, anyone below 21 or above 70 is subject to a 15% extra load on your premium.

Correct. mine also 15 percent more. but age you mentioned is 21, but mine 23 yrs old.


If it is 21 yrs old, I am safe enough... But how come there is no standard rule on this issue.

[izso]

that's why there's so many insurance companies. Choose the best one!

[theorekz]

k. There must be some calculation to justify the additional cost. My record is very good lehz.. NCD ady 38.33%.
I aldy send them an email regarding this issue. Waiting their reply...

Thanks for sharing. I think every insurance company practice different thing. Meaning to say that your car insurance company still pending on this cost la..

actually.. all companies are bounded by Bank Negara.. their licences can be revoked if they do not obey the regulations set by Bank Negara.. normally in insurance industry, once Bank Negara has made new rules, they will make sure all companies follow it immediately.. they wont have a period of time to settle theirselves in.. since can earn extra money, why wait rite?

accd to my company, the rule is pending by Bank Negara. not MSIG..

[e_j_s]

Finally receive the replied from Kurnia Company regarding addtional 15 % of premium for younger driver.

Just for sharing purpose ya, They claimed that some of the insurance companies also pratice the same rule, which is permissable by Bank negare.

"Dear Mr Elvis
 
Further to your queries, please be informed that the premium loading of 15% imposed is basically due to your age is falls within the young driver group which is subject to premium loading. Our company motor underwriting pricing has premium loading of 15% for young driver age 23 years and below (except for 1st year vehicle) based on our company risk profiling and also is an practice by some insurance companies. This additional premium loading imposed based on driver age is permissible under Bank Negara circular no JPI 26/1996.
 
We hope our explaination clarify your understanding on the matter.
 
We thank you for insuring your vehicle with us.
 
Best regards and have a nice day."

[steelrage]

guys...

last year i bought my cousins car.. with a loan from AMBANK.. and under their regulations / conditions.. new loans must come with insurance by AmInsurance..

i must say its convinient because i can just walk in to a branch and renew my roadtax..
however.. what do you guys think...

[izso]

EJS : There's a trick to get around that 15%. Register insurance under your moms name and add your name as the 2nd driver. +RM10 per name only.

Steel : Renewing road tax has never been inconvenient for me. I make a phonecall to ETIQA, they charge it to my credit card (and I gain points), I walk to the nearest post office with my car registration card and they give me the roadtax.

[e_j_s]

EJS : There's a trick to get around that 15%. Register insurance under your moms name and add your name as the 2nd driver. +RM10 per name only.

Steel : Renewing road tax has never been inconvenient for me. I make a phonecall to ETIQA, they charge it to my credit card (and I gain points), I walk to the nearest post office with my car registration card and they give me the roadtax.

I dont think this solution works for me. Cos mine insurance have NCD 38.33%, if i put my mum name i got to pay more. HAHA..

Anyway thanks for the suggestion.

[izso]

well.. in that case pay the 15% la. it's not that much anyway.

[davidlmk]

erm guys lets say i got into a hit and run case, and my car rear bumper clips and paint kena abit.. so now if i wan claim the other party's insurance, will it affect my ncb??

[jun_ng_1208]

erm guys lets say i got into a hit and run case, and my car rear bumper clips and paint kena abit.. so now if i wan claim the other party's insurance, will it affect my ncb??

Do you even have the other party's car registration number? If no, then you can forget about it

[davidlmk]

yeah. got it and i already report right after the hit and run. JDQ 4814

[jun_ng_1208]

yeah. got it and i already report right after the hit and run. JDQ 4814

If you have the reg number and police report already then you can actually go to JPJ and get the owner's details and see which insurance company he's using and claim with the company or maybe easier, just get a insurance claim runner to do it for you

[izso]

yeah. got it and i already report right after the hit and run. JDQ 4814

Make sure you have made a report. If the other party does not make a report you can't claim against his insurance unless it's a 3rd party covered car.

Talk to your insurance company about options.