As a car owner, you need to renew your insurance annually to make sure it is covered and legal to be driven on the road. There are a lot of car insurance companies that provide various insurance coverages with interesting offers and benefits to attract consumers.
Should you switch insurance when renewing car insurance?
The answer is yes. It is best to normalise switching insurance companies when renewing your car insurance.
You should avoid auto-renewal or using the same insurance because the insurance premium you pay may not be the lowest in the market.
Usually, insurance companies will update the premiums and benefits offered for car insurance from time to time. Therefore, we advise you to compare the premiums offered.
That way, you will be able to see the differences and choose the insurance plan at a more favourable price for you.
How to change car insurance
Changing car insurance for a policy that has expired is simple.
You can just renew your insurance at your preferred insurance company. You may renew your insurance directly with the insurance company, through an agent or via any platform that offers insurance comparison and purchase like MyEG and Bjak.
However, you need to cancel your policy beforehand if your existing insurance has not yet expired.
You may refer to our previous article to learn how to cancel your insurance policy.
Tips to switch to other car insurance
As we have said, you are encouraged to switch to another insurance company when renewing your car insurance. However, there are several things that you need to check and consider before switching to another insurance company:
Make sure the policy plan is better than your previous one
Please avoid purchasing insufficient insurance coverage for your car.
You must be aware that the benefits offered to policyholders vary across insurance companies. As such, compare the benefits offered by the companies first. Make sure that the insurance policy you want to get is better than your previous one.
For example, if your previous insurance plan does not offer free personal accident add-on cover, you may try to get new insurance that provides the cover. Insurers that provide complimentary personal accident cover include Takaful Malaysia and Liberty Insurance.
Check the premium offered
The premium for car insurance may vary across insurers by up to 40% to 50%, depending on the car’s condition.
You should compare multiple insurance companies to get lower premiums and save up to hundreds on your insurance.
Reassess your car usage
Do not simply buy car insurance without doing thorough research. Reassess and estimate possible risks to your car throughout the year.
For example, if you have moved to a flood-prone residential area, we encourage purchasing additional special perils cover as part of your insurance plan.
Vehicle damage due to natural disasters such as floods is excluded from the comprehensive policy coverage. Therefore, any flood damage will not be covered by your insurance.
By getting additional special perils cover, you can protect your car and not incur costs for the repair of your flood-damaged vehicle.
Ensure the claim process is easy
Please take some time to go through the reviews by previous customers.
The reviews are helpful to check whether the company has a good record in dealing with customers. You may learn whether they provide excellent customer service assistance when claiming insurance.
Conclusion
You need to know that it is not obligatory for you to renew your insurance with the same insurer.
As a consumer, you need to ensure your car has adequate protection. As such, choose the insurance company that offers the best coverage and benefits.
Simply visit Bjak to ease your insurance-hunting across 15 insurers available on the platform. Start by getting free car insurance quotes online at Bjak.
Bjak is one of Malaysia’s biggest insurance comparison websites, offering policies from over 10 brands. Get your free insurance quote from Bjak today!
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