Insurance, in general, is one of the fundamentals of a personal financial protection. We can safely go so far to say that it is quite vital to have in our lives. This includes having a car insurance which, in Malaysia is compulsory for every car owner to have.
Yet, despite the mandatory requirement, it still is, to some, a confusing and to a certain extent remains a skepticism to a lot of folks. Perhaps the degree of complexity of insurance in general, or the posture of those who are selling it, or maybe it is our own preference to avoid it contributes to us becoming unknowledgeable about the subject.
But armed with proper information, your decision-making process can be simplified tremendously and eventually you’ll be able to arrive at the right choice for both you and your family.
For someone who is new at buying or renewing their car insurance, or not so new but is still unsure of not just the buying/ renewing processes but especially the claims procedure, here’s your absolute best way to go about doing it.
Buying from full-time insurance/takaful agents
In our yearly survey to find the best motor insurance company in Malaysia, we found that Malaysians largely buy their insurance from an agent. In 2016, 34% of our survey respondents bought through an agent. You can read more about the award here. So we are curious to see how good the insurance agents are compared to the other channels.
SPEED & CONVENIENCE: GOOD
When it comes to speed, not all insurance agents will be able to give you the road tax together with the insurance on the spot like Pos Malaysia or an insurance branch. However, some agents have their own Road Tax device from MyEG that allows them to issue the road tax. You can identify them by their MyEG sign at their office. Often times, the places are labeled as MyEG Kiosk.
SALES ADVICE: GOOD
CLAIMS SUPPORT: GOOD
Buying from a full-time insurance/Takaful agent is a good way to get started. When you have zero knowledge about car insurance, they are the best people to advise and perhaps even educate you about car insurance and help you out when you need to make a claim.
They are equipped with product training and will know how to explain the technical terms and coverage in a simplified manner to you. And the best thing is that they can usually come to where you are anytime you like and even remind you of your insurance renewal way in advance.
Explore other options in our 2017 Buying Guide for Motor Insurance/ Takaful and Road Tax in Malaysia.