Know the technicalities of motor insurance

IN Malaysia, the standard comprehensive insurance policy for motor vehicles merely provides basic cover and does not include damage caused by flood, wind storm, landslide and other natural disasters or from malicious damage resulting from strikes, riots and civil commotions.

Premiums for additional coverage used to be high, at half percent of the sum insured for flood cover or RM500 per year for insuring RM100,000. Many insurers have reduced the rate to RM200 a year for RM100,000, or RM100 for RM50,000, which is affordable.