Good news for e-hailing drivers in Malaysia! MSIG Insurance (M) Bhd (MSIG Malaysia) has launched E-Hail E-Zee, the first of its kind motor insurance cover in the country.
With E-Hail E-Zee, drivers of e-hailing services like Uber and Grab can offer their services to the public with a peace of mind knowing that they can now protect themselves and their passengers better.
“Until now, drivers providing e-hailing services were at great risk of substantial financial losses if they have an accident while carrying
passengers, not only from damage and injuries caused by the accident itself, but also from potential legal action by passengers if they sue the driver,” said MSIG Malaysia Chief Executive Offier Mr. Chua Seck Guan.
MSIG has been liaising with various parties such as Bank Negara Malaysia and Persatuan Insurans Am Malaysia (PIAM) to create this approved add-on insurance.
“It has been reported that new laws will come into place in the near future which will require e-hailing drivers to ensure that they are properly insured for e-hailing services, but they can actually purchase our E-Hail E-Zee insurance right now,” added Mr. Chua.
MSIG E-Hail E-Zee motor insurance add-on will provide authorized e-hailing drivers with the following cover when they are providing e-hailing services:
- Loss or damage to the vehicle due to accident
- Loss or damage to the vehicle due to fire or theft
- Loss or damage to third-party’s vehicle or property
- Death or injury to third-party involved in an accident
- Legal liability to passengers and legal liability of passengers
- Accidental Death or Permanent Disablement to the driver
The cost of MSIG’s E-Hail E-Zee is based on risk factors of the individual policyholder. Therefore it will vary depending on several factors such as the vehicle’s sum insured and the policyholder’s details. However according to MSIG Malaysia, it will still be a relatively affordable. For example, a standard vehicle that is below 1.5 CC with full 55% No Claim Discount (NCD) can enjoy the coverage with an additional premium ranging between RM0.30 to RM0.70 a day.
For more information about MSIG’s new E-Hail E-Zee add-on cover, click here.