You may have heard of Bjak to renew your car insurance online. However, do you know if Bjak is cheaper than iBanding? The answer is, iBanding is cheaper than Bjak. Let’s find out how in this article.

You can save a lot money on car insurance. Take the simple step of looking for the cheapest motor insurance. Do not simply accept the insurer’s renewal quote because the amount quoted is less than what you paid the previous year.

Bjak vs iBanding

We will be comparing quotations that are generated by Bjak and iBanding for a Proton Saga 1.3L Premium 4 Speed Automatic. The driver has a 30% Non-Claims Discount (NCD).

After inserting the car and owner details, below are the list of companies that are offered by Bjak and iBanding to renew the car insurance. There is a list of 6 companies offered by Bjak while iBanding offers a list of 4 companies.

Cheapest on Bjak is RM696.35

Based on the list from Bjak, the cheapest insurance is from Pacific & Orient which cost RM696.35 for a sum insured of RM30,000. The most expensive on the list is from Tokio Marine which cost RM976.22 for a sum insured of RM36,000.

Cheapest on iBanding is RM654.60

Based on the list from iBanding, the cheapest insurance is from Etiqa which cost RM654.60 for a sum insured of RM33,000. The most expensive on the list is from Takaful Malaysia which costs RM869.00 for a sum insured of RM35,800.

In doing this comparison, we will be taking a closer look at the rates offer by a few insurance company from Policystreet and iBanding. As you can see from the lists above, Syarikat Takaful Malaysia is the only company that is offered by both PolicyStreet and iBanding. Therefore, we will be comparing the rates offered by Syarikat Takaful Malaysia through PolicyStreet and iBanding.

Comparison : Syarikat Takaful Malaysia

To make this a fair comparison, we have set the sum insured to RM33,000 on both Bjak and iBanding.

On Bjak, the price of motor insurance from Takaful Malaysia is RM912.55 for a sum insured of RM33,000.

On iBanding, the price of motor insurance from Takaful Malaysia is RM822.30 on iBanding for the same sum insured of RM33,000.

This means that you will save RM90.25 when you buy motor insurance from Takaful Malaysia through iBanding’s special link. On top of that, you will also get a cashback of RM10 when you use iBanding’s special link. This gives you a total saving of RM100.25. This is a saving of 11.6% of your money when you use iBanding.

Differences : Bjak vs iBanding

There are several differences between Bjak and iBanding. As you can see, the most notable difference is the price. Based on the comparison above, you can see that iBanding helps you save a lot of money compared to Bjak. Let’s take a look at other differences between Bjak and iBanding.

1. Cashback up to RM150

When you renew with iBanding, you will receive cashback that are paid directly to your bank account. These cashback ranges from RM10 to RM150. This means that you can earn money while you get the cheapest price on car insurance.

On the other hand, Bjak does not provide any form of cashback when you buy car insurance through them.

2. Rebate of 10%

Insurance companies usually give a 10% rebate when you buy online. As you can see from the quotation below, with iBanding there is a 10% rebate of RM85.15 given by the insurance company. This rebate applies when you are buying car insurance from any company through iBanding’s special link.

On the other hand, there is a rebate of RM0 shown in the quotation from Bjak.

3. Service tax lower by 10%

With iBanding, you will be charged a lower service tax. The reason is because the overall price of your car insurance is always cheaper when you renew through iBanding. With a lower overall price, you will be charged a lower service tax. As it can be seen, the service tax on Bjak is RM51.09 while the service tax on iBanding is RM45.98.

By renewing with iBanding, you save RM5.11 on service tax. This is about 10% lower compared to the service tax on Bjak.

4. Renew directly with insurance company

When you click to renew with iBanding through the special link, you will be directed to the official insurance company webpage where you can proceed to buy your car insurance. This shows that iBanding does not charge you any additional fees. You buy directly with the insurance company at the price that iBanding offers you.

When you click to renew with Bjak, you will remain on the Bjak webpage up until you complete your puchase. This means that you are buying from Bjak instead of directly buying from the insurance company.

Compare the URL’s below : bjak.my and online.takaful-malaysia.com.my.

Conclusion: Who is better?

As you already know, iBanding is cheaper than Bjak. To conclude, here is a table that shows the difference between Bjak and iBanding.

Therefore, iBanding is the WINNER. When you choose iBanding to renew your car insurance, you are buying 25% cheaper, with cashback, with 10% rebate, with lower service tax and buying directly from the insurance company. Even though Bjak offers more number of companies, it is not the cheapest compared to iBanding. Start saving your money now by choosing to renew your car insurance through iBanding.