If you have just upgraded your car by installing fancy accessories such as an expensive speaker, advanced GPS system, or maybe custom-made sport rims, you may want to consider adding car accessories cover to your comprehensive insurance. But is it worth it? Let’s find out in this article.
Are accessories covered under insurance?
Your insurance only covers the standard, factory-fitted car accessories. These include air-conditioners, radios, cassette players and compact disc players.
In the event of a car accident or theft, your insurance will replace or compensate for the accessories, provided that the accessories are standard, factory-fitted tools. You will need comprehensive insurance in order to get the accessories replacement or compensation.
In other words, if your car accessories are not the standard accessories that come with your car, your insurance won’t cover or compensate you in the event that the non-standard accessories are damaged or stolen. Let’s look at an illustration below.
Illustration: Your original sports rims are all in good condition. But as the new year is around the corner, you decided to change all four sport rims with new, fully custom-made sport rims. As luck would have it, all four sports rims were stolen! You quickly phoned your car insurance company to make a claim. Unfortunately, your insurance couldn’t give you any compensation as the newly used sports rims were non-standard accessories.
Do you need car accessories cover?
Imagine that you have spent thousands of Ringgit on new car accessories such as sports rims. Definitely, you would want to protect your sports rims at all costs, especially after purchasing them with your hard-earned money. So if you have the accessories covered, you can make an insurance claim in the event that the accessories are damaged or stolen. It will relieve your financial burden. The good thing is you will also get to keep your No Claim Discount (NCD), even after you claim your accessories.
Do you then need car accessories cover?
It really depends on you. If you have upgraded or are planning to upgrade your car accessories to those that are more advanced, sophisticated and pricy, you may want to have this add-on to cover the non-standard accessories. Note that insurers will only allow you to claim for car accessories once throughout the one-year policy period.
If you have no plans to upgrade your accessories and wish to keep the original accessories, then you may not need this add-on cover.
How much do you have to pay for car accessories cover?
The additional premium to add on accessories cover to your comprehensive insurance is about 15% of the sum insured for the non-standard accessories. Therefore, before getting this add-on cover, check first the amount or value of the accessories that you wish to cover. Let’s look at the following example.
Non-standard accessories value: RM1,000 (stereo system) + RM500 (GPS navigation system) = RM1,500
Premium for accessories cover: 15% x RM1,500 = RM225 (for a one-year protection)
Is it worth it?
How to get car accessories cover?
The process to add car accessories cover to comprehensive insurance is the same as adding any other add-ons. You can add this cover when you buy or renew your car insurance.
If you use an insurance comparison site like Bjak, you simply have to click on the option to add accessories cover before you proceed to payment. As said above, check first the value of your non-standard accessories before deciding on the sum insured, subject to the minimum amount set by insurers.
Get car insurance add-ons at Bjak
We have shared the important things about car accessories cover that you may need. Remember, your comprehensive insurance only covers the standard factory-fitted accessories. So if you have upgraded or are planning to upgrade your accessories, you may need this add-on cover.
For your convenience, we recommend you renew your car insurance online at Bjak. That way, you can easily add car accessories cover to your insurance, completely online. If you need help at any point, you can always WhatsApp Bjak for assistance, anytime you need it.
Bjak is one of Malaysia’s biggest insurance comparison sites, with more than 10 insurance brands to choose from. Get your free insurance quote at Bjak today!
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