KUALA LUMPUR: As motorists in Penang and Kedah counted the painful cost of having their cars overhauled after the floods, there is now a need for more awareness of flood coverage as a rider (add-on) to the usual comprehensive car insurance. Although instances of vehicles being caught in such an occurrence are becoming more and more frequent, few people are insured against it.
According to Maybank Ageas Holding’s Chief Executive Officer Kamaludin Ahmad, less than one out of 100 vehicle owners five years ago would purchase flood coverage for their vehicles.