PolicyStreet’s 3F Car Insurance Packages Steers Malaysians Towards Financial Security 

PolicyStreet offers customisable car insurance, featuring Female, Family, and Flood (3F) packages to complement Comprehensive and Third-Party, Fire, and Theft insurance coverages without affecting NCD.

KUALA LUMPUR, 7 NOVEMBER 2023 – Car insurance is essential for every Malaysian driver, but many are ineligible for Comprehensive coverage due to the age of their vehicle. With limited protection from Third-Party, Fire, and Theft coverage, Malaysians are often left financially vulnerable in the event of accidents. Gearing up to meet this challenge, PolicyStreet, a Khazanah-backed insurtech, is rolling out the Female, Family, and Flood (3F) car insurance packages, fine-tuned to get Malaysians on track to financial security.

Starting at RM50 per year, the 3F packages can be taken separately or combined, allowing Malaysians to customise their car insurance protection levels in alignment with their needs and budget. Each 3F package includes varying perks, with a common foundation that encompasses free towing, access to a 24-hour emergency helpline, the labour cost of roadside repairs, and compassionate claims of up to RM20,000 in the event of the policyholder’s accidental death or permanent disablement.

Tang Siew Wai, Chief Digital Officer of PolicyStreet, expressed the company’s unwavering commitment to serving the underserved in the insurance market. He says, “We believe that every driver, regardless of their vehicle’s age, deserves access to enhanced protection. With the 3F insurance packages, we are making it easier for drivers with older vehicles to rev up their safety on the road. With the 3F packages, we aim to set a new standard in auto insurance, ensuring that no driver is left without the protection they deserve.” 

With the 3F insurance packages, PolicyStreet ensures drivers with older vehicles enjoy their journey with maximum peace of mind. By enabling consumers the option to customise their basic insurance policies with these packages, vehicle owners can now cruise with the assurance that they have an extra layer of protection, no matter the age of their vehicle.

Designed to protect female drivers, the Female Driver Protection+ Package insures the policyholders’ money and valuables in the event of car break-ins or snatch thefts, offering up to RM800 in compensation for the losses. Additionally, policyholders can also receive up to RM500 for any skin injuries sustained during the burglary.

Families with older vehicles can also buckle up and enjoy a new chapter in road safety with the Family Protection+ Package. Aside from acting as a personal accident coverage, the package also covers the medical expenses of the driver and their family members involved in car accidents up to RM1,000. Child seats and other essential baby items damaged in car accidents will also be compensated up to RM500.

For Malaysians living in flood-prone areas, the Flood Protection+ Package is a crucial financial safety net. The Flood package covers events ranging from flash floods to landslides, offering an instant payout of RM800 for mud and water removal and cleaning of car interior and exterior, ensuring that natural disasters never put the brakes on your road adventures.

In addition to complementing Third-Party, Fire, and Theft coverages, the 3F car insurance packages can also be purchased alongside Comprehensive coverages, offering drivers the flexibility to bolster their protection further. This unique feature allows drivers to tailor their insurance to meet their individual requirements, ensuring that no matter the road ahead, they can travel with the confidence that they’re well-covered.

Notably, drivers opting for Comprehensive coverages can also enjoy additional benefits under the Flood Protection+ Package which includes standard flood coverage and repairs claimable up to the sum insured. 

Drivers can also enjoy worry-free claims, especially when it comes to drivers limited to Third-Party, Fire, and Theft coverage. The basic 3F insurance packages are designed to ensure that making a claim won’t impact the drivers’ No-Claim Discount (NCD), helping Malaysians save on car insurance for years to come. PolicyStreet’s commitment to providing enhanced protection while preserving drivers’ NCD ensures Malaysians can have genuine financial security and peace of mind on the road.

For more information on the 3F insurance packages and how they can turbocharge your protection, visit www.policystreet.com

PolicyStreet is licensed by Labuan Financial Services Authority, Bank Negara Malaysia and Australian Securities & Investments Commission.

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