Best Car Insurance in Malaysia

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Features

Best Price, Always

Save up to RM1,000 with our auto-applied, sitewide discount. No agents, no middleman, no comissions – we pass the savings back to you.

Lowest Price Promise

If you find a better price (same insurer, same coverage) from other insurance marketplace, we’ll beat it and pay you 5x the price difference! That’s how serious we are.

Drive Less, Pay Less

Pay only for the kilometres you plan to drive, and not anything more. Top up your plan at anytime as your driving needs change.

Buy Now, Pay Later

Split your payment into 3 interest-free instalments. Split is Shariah-compliant so you can use the service with full confidence.

Road Tax Renewal

When you renew your road tax with us, you will have the option to have it delivered to your doorstep.

Free Quotation from 30+ Insurers

We are partners with 30+ insurers in Malaysia! We help you to compare and save – so that you get the best possible deal for your insurance needs. Never pay more.

Why Choose PolicyStreet?

Comparing car insurance quotes with us only takes 1 minute and it’s free! It saves you from all the hassle of moving from one website to another website. Finding you good deals with just one search away. Be secured and protected by Malaysia’s best insurer from PolicyStreet!

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PolicyStreet is a financial advisor approved by Bank Negara Malaysia (Central Bank of Malaysia).

No Hidden Fees

Not only can you enjoy additional savings on PolicyStreet, but you will also not need to pay anything extra as our services are FREE.

Price Match Guarantee

If you come across a lower price from our competitors, let us know and we will match the advertised price.

Trusted by thousands of Malaysians

With more than 100,000 Malaysian users who have sought help from us, you can rest assured that you are in safe hands.

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FAQs About Car Insurance in Malaysia

1. Why do I need a car insurance in Malaysia?

According to the Road Transport Act of 1987, all vehicle owners are required to have car insurance in Malaysia and road tax in order to legally drive on the road. If you are caught driving without a road tax, you are breaking the law and may be fined up to RM 3,000 under Section 14(4) of the Road Transport Act (RTA) 1987.

2. Why is car insurance important for all drivers?

It is necessary in Malaysia to protect yourself and other drivers who you may inadvertently injure. You will be able to make a claim for compensation for his or her injuries as well as any physical damage done to their vehicle if you have third-party cover.

To be protected and covered for damage to your own vehicle, you must purchase a comprehensive cover plan that fully covers damage to your own vehicle as well.

3. What are the things to consider before buying car insurance?

There are a few things to consider before buying the exact car insurance in Malaysia:

  • Budget

    Always keep in mind how much money you have set aside for buying car insurance in Malaysia. It is critical to select a policy or plan that you can realistically afford in the long run. As a result, keep your budget in check and shop around for the best deal based on your specific situation.To make it easier for you, find a plan that is suitable for your situation and fits your budget, as this will ensure that you can commit to it every month/year without breaking the bank.

  • Coverage

    Coverage of one single policy is important as this will ensure protection for you, your vehicle as well other drivers. You must consider what coverage you will receive from a single policy, such as collision, uninsured and underinsured motorist protection, personal injury, and comprehensive protection.

  • Insurer

    Before you do anything else, make sure to select and read the review about the insurance company with which you are familiar, as the moment of truth for the customer comes when it comes to settling claims. As a result, go with a well-known brand to ensure you get everything you need.

  • Network of workshops

    Insurance companies typically have a vast network of workshops from which to repair or service your vehicle. As a result, select an insurance provider with the largest network of car workshops, as this will ensure that your claims are settled in cash and that the service is easier and faster, with fewer hassles.

  • Consider purchasing your insurance online

    Buying it online can save you both time and money. You can purchase and select a policy from a variety of insurers in a single location, making it easier to make an informed decision about which insurance to purchase because you can research various companies such as AXA, Etiqa, Allianz, Berjaya Sompo, and others through the same website.

4. What is the difference between car insurance and personal accident insurance?

Car insurance will only cover damages to a vehicle, while personal accident insurance pays out benefits in the event of unintentional death, disability, or injury.

5. How many types of car insurance in Malaysia are there?

There are three types of car insurance available in Malaysia:

  1. Comprehensive cover

    Comprehensive coverage is the full protection coverage for your car as it includes third-party, theft, and fire insurance policies with additional coverage on your own vehicle. In which, this coverage will not only protect third-party (other drivers) but also protects the first party (you).

  2. Third-Party Fire & Theft cover

    Third-Party Fire and Theft coverage will protect you from third-party claims for bodily injury or death, third-party property loss or damage caused by your vehicle, as well as add another layer of protection for losses or damages to your vehicle caused by fire or theft.

  3. Third-Party cover

    Third-party insurance is the fundamental coverage that will protect you if you inadvertently injure other drivers. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property, and physical injury.Third-party coverage is a statutory requirement for all Malaysian drivers and is the minimum level of coverage required to renew a driver’s road tax and legally drive in Malaysia.

6. What are the add-ons that I can purchase to have the maximum protection?

With comprehensive coverage, you will be able to add other add-ons:

  • Windscreen coverage
  • Special perils coverage (flood, windstorm, landslide & other natural disasters)
  • Additional coverage for riot, strike & civil commotions
  • Additional driver’s names
  • Additional car accessories coverage
  • Legal liability protection
  • Compensation for assessed repair time (CART)

And there are many more add-ons you can include in your comprehensive coverage!

7. Does my car insurance cover my family members?

Yes. Your family members are insured under your policy as long as all of them are listed as a driver under your policy.

8. What are some common exclusions of car insurance?

  • Your own death or bodily injury as a result of a car accident
  • Your liability for claims made by passengers in your vehicle and
  • Loss or damage arising from an act of nature, such as flood, storm, and landslide

You do have the option to purchase add-ons that extend your cover to specific risks.

9. Can I change my plan to the same insurer?

You certainly can. Make contact with your insurer and inform them of the changes in your plan.

10. Can I cancel my car insurance policy?

Yes, you can cancel your policy at any time to end the contract between you and the insurance company. You may do so by providing us with written notice. Following cancellation, any premium refund will be based on the terms of the policy contract.

11. What does “premium” in car insurance mean?

The ‘premium’ is the amount you have to pay to keep your car insurance in Malaysia valid. There are several factors that can contribute to the premium such as car market value, car manufacture year, No Claim Discount (NCD), and more.

Premium = Price (after NCD, if any) + Additional coverage (if any) + Service tax (6%) + Stamp duty (RM10)

12. What factors influence the price of my car premium?

These are several factors that influence the price of your car premium such as:

  • Car market value
  • Car manufacture year
  • No Claim Discount (NCD)
  • Types of car insurance (Third-Party, Third-Party Fire & Theft, Comprehensive)
  • Location
  • Annual mileage
  • Driving history
  • Age
  • Gender

13. What is the most affordable insurance policy I can get?

Third-Party insurance is the cheapest or most affordable insurance policy you can buy. This policy is the most basic and provides the fewest benefits while also charging the lowest premium.

14. Are there any additional charges when I purchase car insurance in Malaysia?

Yes. In order for you to get the insurance policy, there are additional charges for Standard SST rate of 6% and stamp duty RM 10.

15. What is the payment method I can use to pay my premium?

You can use various payment methods to pay for your premium such as:

  • Visa
  • MasterCard
  • GrabPay
  • Touch n Go Ewallet
  • Boost
  • FPX

16. What is a No Claim Discount (NCD)?

No Claim Discount (NCD) is a car discount that you will receive if you have not made any claims in the previous 12 months and there have been no insurance claims made by third parties against your car insurance policy. The scale of NCD usually will start from 25% to 55% as provided in the policy. Take note that once you claim your NCD, it will revert to 0%.

17. How many claim options are available in case of an accident?

There are 3 types of claim options such as:

  1. Own damage claim

    This claim applies if your own car is damaged in an accident. If the accident was your fault, you should file a claim for your own damages as long as you have comprehensive coverage.

  2. No-Fault Damage (Own Damage Knock-for-Knock)

    When the accident was not your fault, you can file a No-Fault Damage claim with your own insurance company, as long as you have comprehensive coverage.

  3. Third-party claim

    When you are involved in an accident that was not your fault and the other party is required to pay for your damages, you file a Third-Party claim.

18. How to file a claim when I am involved in a car accident?

There are two types of car insurance claim:

1. Claim from your insurance company (Own Damage or Own Damage Knock for Knock)

  • Lodge a police report within 24 hours of the accident.
  • Immediately notify your insurance company of the accident. After that, make sure to take your car to an insurance panel workshop.
  • Following that, you must complete the claim forms and return them to your insurer.
  • An insurance adjuster will then be appointed to assess the damage and cost of repairing your vehicle, after which the panel workshop will begin working on it.

2. Claim from the other party’s insurance company (Third-Party)

  • Lodge a police report within 24 hours of the accident in order to file a claim with the other party’s insurance company.
  • Send your vehicle to the other party’s insurance company’s panel workshop.
  • Obtain a vehicle Independent Licensed Adjuster on your own or through a workshop to assist in determining the total cost of the damage and loss of use, also known as Compensation For Assessed Repair Time (CART). This is to receive compensation for not having a car while your vehicle is being repaired.
  • You must first pay for the damage. Then, send the following documents to the insurance company of the other party:
    • Original copy of the police report made by you
    • Police investigation result
    • Copy of your NRIC (MyKad)
    • Copy of your driver’s license
    • Car registration card
    • Adjuster report including bill of repair cost for your car (or your damaged property)
    • Proof of the damaged car’s photo (if any)

19. What is ‘Betterment”?

Betterment is the amount you must pay when your vehicle (more than 5 years old) requires a replaced part with a new one.

20. What is “Excess”?

Excess is the first payment you must make when claiming your insurance before your insurer covers the rest. Even if you are not at fault, you will be required to pay an excess.

21. How long does my insurance policy cover?

All plans will cover for a period of twelve (12) months. Usually, the policy’s duration will begin either at the time of purchase or at an agreed-upon time and continues until the policy expires. You can check your insurance policy for the exact duration.

22. Can I purchase multiple policies?

Yes, you can buy multiple policies of car insurance for other vehicles under your name or on behalf of others. Please keep in mind that you can only purchase one policy per vehicle.

23. Can I purchase/renew the policy online?

Yes, you can purchase/renew your policy at PolicyStreet with no hidden fees.

24. Where can I purchase/renew my policy?

You can purchase/renew your car insurance policy at PolicyStreet and we will send you the quote in less than 1 minute.

25. How many insurers are available for my car insurance?

There are 35 insurance companies to choose from, including:

  • Etiqa
  • Takaful
  • AXA
  • Allianz
  • Great Eastern
  • Berjaya Sompo
  • RHB
  • Tokio Marine
  • Tune

There are also plenty of other insurers from which to choose!