Malaysian Drivers Protected Against Bumps on the Road and in Life with CARSOME Care+
Malaysians undertaking car loans with CARSOME Capital can now enjoy FREE Car Personal Accident coverage from PolicyStreet, which also covers car loan payments in the event of unemployment.
KUALA LUMPUR, 6 JULY 2023 – Partnering with CARSOME, PolicyStreet is introducing CARSOME Care+, a first-of-its-kind Car Personal Accident Coverage that also covers your car loan payments in the event of unemployment. The complimentary coverage is valid for a year and is embedded into every purchase of a CARSOME Certified car, available to Malaysians who apply for car loans from CARSOME Capital without any additional cost.
Understanding that approximately 90% of the Malaysian population, or about 30 million Malaysians are underinsured, the protection also includes personal accident coverage of up to RM10,000 in the event of accidental death or permanent disablement.
Malaysians can cruise confidently as the loan protection add-on in CARSOME Care+ covers car loan payments of up to RM1,000 per month for a maximum of six months. With a projected 60,000 jobs at risk in 2023, the protection ensures those who may be affected by layoffs and workplace downsizing are not financially burdened by their car loans.
The CARSOME Care+ coverage also includes weekly hospitalisation benefits, smart key protection in the event of theft or accidental damage, theft of personal belongings kept inside the car, and travel allowance for the transportation of the policyholder’s children to school and tuition classes.
“While car insurance is mandatory for road-legal vehicles, there are no regulations to ensure that the drivers themselves are protected while on the road. Regardless of the circumstance, we believe that insurance is a peace of mind that every Malaysian should be able to enjoy,” says Yen Ming Lee , Co-founder and Chief Executive Officer of PolicyStreet.
“Through our partnership with CARSOME, we hope to narrow the protection gap and protect underinsured Malaysian drivers. By embedding the CARSOME Care+ protection into the car purchasing journey, we can offer drivers purposeful insurance coverage without the added financial burden,” says Yen Ming.
As Southeast Asia’s largest integrated car e-commerce platform, CARSOME is committed to creating value for its customers by providing comprehensive protection when a customer takes home a CARSOME Certified car.
CARSOME Co-founder and Group CEO Eric Cheng said, “At CARSOME, we believe that owning a car is more than just a means of transportation—it is a significant investment and a part of our customers’ lives. This insurance policy goes beyond the usual after-sales services. We understand the worries and uncertainties that come with car ownership, and that’s precisely why we’ve partnered with PolicyStreet to provide this added layer of protection”
“CARSOME Care+, combined with our existing quality guarantee through CARSOME Certified, ensures that you can enjoy a worry-free and hassle-free car buying experience. It begins from the moment you make your purchase to long after you’ve hit the road, so customers benefit from end-to-end support throughout your entire car ownership journey,” he added.
CARSOME Care+ is available to Malaysians at the end of their car purchasing journey with CARSOME Certified. Policyholders who want to claim the CARSOME Care+ Coverage can simply email their bank statement and Employment Insurance System (EIS) claim documentation to claim@policystreet.com.
“Drive safe” should be a reality on the road instead of just a saying between friends and family. If you are in the market to purchase a quality refurbished car, head on over to CARSOME PJ Automall, the largest Indoor showroom and experience center or log on to CARSOME’s website to browse over 1000 cars of your choosing. Further details of the Carsome Care+ available HERE. For more information about PolicyStreet and its innovative insurance solutions, please visit https://www.policystreet.com/.
