Special perils coverage is a popular add-on coverage that most people consider when renewing car insurance because insurance companies usually do not include them in a standard car policy. Since cars are highly susceptible to damage caused by acts of nature, add-ons that cover damage from natural disasters are crucial.
But with so many insurance in the market, finding the ideal plan can be troublesome. So, we’ve compiled a list of the five best special perils coverage for private cars to speed up your search.
Zurich
Zurich tops our list of special perils protection for private cars because it offers the best benefits. Its Z-Driver and Z-Drive Assist plans both support natural disasters.
Z-Driver policyholders are eligible for:
- Water Damage Cover from RM10/year
- Reimbursement of up to RM5,000 on towing and cleaning of vehicle due to flood
- 60% discount off the tariff rate for special perils – savings on special perils contribution
Meanwhile, Z-Drive Assist (Motor Personal Accident plan) offers:
- Flood Inconvenience Allowance – RM3,000 for both basic and superior plan
The flood allowance covers the following events:
- Cost of Cleaning – Cleaning Cost Interior Parts (excluding the engine) (RM1,000)
- Accidental Medical Expenses – Medically necessary expenses within twelve (12) months from the flood date (RM1,000)
- Compassionate Allowance – Accidental death (RM1,000)
Allianz
Allianz is definitely a brand you should consider, as it offers one of the best protections against natural disasters at a low premium. Under the Rahmah Insurance Initiative (Allianz’s collaboration with the Malaysian government), private car owners can benefit from compassionate flood allowance alongside the usual special perils cover.
Compassionate Flood Coverage – RM3,000
Special perils cover – Premium charged: 0.2% x 100% of the sum insured
Both Allianz Motor Comprehensive (private car) and Third-party, Fire & Theft (private car) policyholders are eligible for the compassionate flood allowance payout.
MSIG
MSIG offers both full and limited special perils coverage for cars. The MSIG Lady Motor Plus and the MSIG Motor Plus Plans have full special perils included in the policy. For the MSIG Comprehensive Private Car plan, policyholders can opt for a separate add-on.
- Full coverage – Premium charged: 0.2% x 100% of the sum insured
- Maximum claim payout: 100% of the sum insured
- Limited coverage – Premium charged: 0.5% x 25% of the sum insured
- Maximum claim payout: 25% of the sum insured
Etiqa
Etiqa is a popular auto insurance brand in Malaysia. The brand is known for offering some of the best plans for private cars and has received unwavering support from locals. Under Etiqa car insurance, policyholders can opt for two types of coverage for natural disasters — Basic Flood Coverage and Extended Flood Coverage.
- Basic Flood Coverage – covers the insured vehicle from floods and storms at a premium of 0.25% of the total sum insured.
- Extended Flood Coverage – covers floods, storms, landslides, hurricanes, tornadoes, volcanic eruptions and other natural disasters at a premium of 0.5% of the total sum insured.
Tokio Marine
Tokio Marine is a commercial insurance brand offering various financial products. In car insurance, it is a renowned brand among imported vehicle owners.
Under Tokio Marine’s AutoPro Plan, policyholders are eligible for a lump flood allowance for flood damage to their vehicles. This is offered on top of the special perils add-on that can be purchased by paying an additional premium.
- Flood allowance – RM1,000 for the insured vehicle
- Special perils add-on – Premium charged: 0.2% x 100% of the sum insured
Special perils coverage in Malaysia
Natural disasters are inevitable, and there is not much you can do about them when they happen. While you can’t immediately protect your car against the effects of natural disasters, special perils cover can be incredibly helpful to cover the repair cost.
Getting your ideal car insurance with special perils add-on is so much easier now that we have Bjak! Compare policies from up to 18 brands (including the ones mentioned above) and customise your policy based on your needs. Click the button below to get started and start renewing insurance conveniently.
Bjak is one of Malaysia’s biggest insurance comparison websites, offering policies from over 10 brands. Visit Bjak today to get your free insurance quote!
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