Introduction
Understanding the difference between takaful & conventional insurance can be confusing for drivers in Malaysia. While both provide coverage, their approaches, concepts, and claims processes differ. BJAK simplifies this by allowing users to compare all policies online, add relevant add-ons, and manage renewals efficiently.
- Check all policies online
- Compare benefits and premiums
- Add add-ons like VIP Rescue, Key Care, and Warranty
This article explains the main differences and how BJAK makes selecting a policy easier.
1. Basic Concepts
- Takaful: Based on risk-sharing and Shariah-compliant principles. Participants contribute to a tabarru’ fund to help other members.
- Conventional Insurance: Based on traditional insurance contracts, where premiums are paid to the insurer for individual protection.
2. Differences in Claims Process
- Takaful: Claims are paid from the tabarru’ fund. Participants are part of a risk-sharing group rather than individual policy buyers.
- Conventional: Claims are paid by the insurance company based on individual policies. Usually involves damage assessment before payment.
3. Benefits & Additional Features
BJAK offers add-ons compatible with both policy types:
- VIP Rescue: Unlimited distance towing within BJAK’s area for one assistance per subscription.
- Key Care: Reimbursement for key replacement costs up to a certain limit with a police report and original receipt.
- Warranty: For cars up to 15 years old, covering engine and transmission damage once up to RM1,000.
4. Why BJAK Makes Policy Selection Easy
- Instant Comparison: View all takaful and conventional policies in one platform.
- Add-Ons After Policy Selection: Flexible according to user needs.
- Check & Renew Roadtax Together: No need to visit Pos Malaysia or JPJ; digital roadtax is available.
Conclusion
Although takaful and conventional insurance differ in concepts and claims, BJAK makes understanding the difference between takaful & conventional simple, fast, and transparent. Drivers can fully protect their cars without hassle by accessing multiple policies, selecting optional add-ons, and renewing roadtax digitally.
Read More:
Choosing a Car Takaful Plan for Shariah Compliance
