When choosing the best car insurance, do not just settle for which covers your vehicle only but also has to be within budget without compromising safety. With many insurance companies available in Malaysia that offer unique coverage to differ one another, you can follow this guide to ensure that you make the best choice for your vehicle but does weigh a lot on the budget.
Types of Car Insurance Coverage
Before choosing a policy, understand the types of coverage offered:
- Comprehensive
- Covers your own damages, theft, third-party accidents, and natural disasters.
- Ideal for new or high-value cars.
- Covers your own damages, theft, third-party accidents, and natural disasters.
- Third Party, Fire & Theft
- Covers third-party damage, fire, and vehicle theft.
- Suitable for used cars or moderate budgets.
- Covers third-party damage, fire, and vehicle theft.
- Third Party Only
- Covers third-party damages only.
- Cheapest option but minimal coverage.
- Covers third-party damages only.
Budget-Based Comparison
| Monthly Budget | Coverage Type | Advantages | Disadvantages |
| RM50 – RM100 | Third Party | Low cost, enough for older cars | Does not cover own damages |
| RM100 – RM200 | Third Party, Fire & Theft | Better protection, still affordable | Own car damage not covered |
| RM200+ | Comprehensive | Full protection including accidents, theft & natural disasters | Higher premiums |
Note: Premiums vary depending on the insurance company and car type.
Tips for Choosing the Best Car Insurance According to Your Budget
- Identify your needs: Decide which coverage is best suited for your vehicle.
- Compare prices & benefits: Use platforms like Bjak for quick comparisons.
- Check your NCD (No Claim Discount): Make sure NCD available in quotation before purchase.
- Consider add-ons: Special perils for natural disaster areas..
- Read terms & conditions: Ensure no exclusions will affect your claims.
FAQ
Q1: Changing coverage type based on budget?
A:Yes, you can either upgrade or downgrade your coverage but depending on whether approved by insurer.
Q2: Does cheap insurance mean low coverage?
A: Not necessarily, cheap doesn’t mean best and won’t cover all damages.
Q3: How can I check the best premium rates?
A: Use online comparison platforms like Bjak, JPJ, or MyEG.
Conclusion
Choosing the best insurance coverage based on your budget requires planning and saving as you do your comparison. Evaluating each coverage type whether you can opt for a cheaper solution or you need to save a little to get that extra benefit that you need. Use platforms like Bjak to check and renew policies online quickly and safely.
Read More:
5 Common Myths About Car Insurance Prices
