Average Savings on Car Insurance After Comparing Insurers
Based on BJAK's internal data, comparing car insurance quotes could help you find a cheaper option. Across 5.15 million quote requests, the lowest premium was RM115 cheaper on average, or 14.8% below the median premium. Also, 85% of requests had a cheaper option available, showing why it pays to compare quotes before renewing.
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How much can you save by comparing car insurance?
BJAK's internal data compares the median premium with the lowest available premium for each quote request. The median represents the middle price, while the lowest premium is the cheapest option available for that request.
| Finding | Amount |
|---|---|
| Average median premium | RM781 |
| Average lowest premium | RM666 |
| Average difference per request | RM115 |
| Lowest premium below median | 14.8% |
| Requests with a cheaper option available | 85.0% |
On average, the lowest premium was RM115 less than the median premium. The 85% figure means that most requests had a lower-priced option available than the median, but it does not mean every customer saved RM115 or 14.8%.
Data note
Figures are based on BJAK's internal quote data. Premiums are grouped into RM50 bands, and requests with RM0 premiums are excluded. These figures reflect the data analysed on BJAK, not guaranteed savings for every customer.
Which car models have the biggest potential savings?
The table below shows the average median premium, average lowest premium and difference for selected popular car models in BJAK's data.
| Car model | Average median premium | Average lowest premium | Savings |
|---|---|---|---|
| Perodua Myvi605,624 requests | RM693 | RM609 | RM84 (12.1%) |
| Proton Saga448,600 requests | RM585 | RM516 | RM69 (11.8%) |
| Perodua Axia326,215 requests | RM651 | RM579 | RM73 (11.2%) |
| Perodua Bezza282,469 requests | RM837 | RM744 | RM93 (11.1%) |
| Perodua Alza211,474 requests | RM765 | RM659 | RM106 (13.9%) |
| Honda City199,726 requests | RM995 | RM836 | RM159 (15.9%) |
| Proton Wira191,450 requests | RM338 | RM290 | RM47 (14.0%) |
| Toyota Vios186,588 requests | RM924 | RM791 | RM133 (14.4%) |
| Proton Persona181,285 requests | RM598 | RM528 | RM70 (11.7%) |
| Perodua Viva152,605 requests | RM399 | RM341 | RM58 (14.6%) |
Among these 10 models, the Honda City had the biggest average price difference at RM159 (15.9%), while the Proton Saga had a difference of RM69 (11.8%). The Perodua Myvi had a difference of RM84 (12.1%). These are averages from the quote data, not guaranteed savings for every owner of these models.
How is potential savings calculated?
The calculation is simple:
Potential savings = Median premium − Lowest premium
For example, if the median premium is RM1,000 and the lowest comparable quote is RM850, the difference is RM150. This is a potential saving of 15% compared with the RM1,000 reference price.
- Median premium
- RM1,000
- Lowest comparable quote
- −RM850
Potential savings
RM150 (15%)
For a fair comparison, check that the quotes have similar vehicle details, insured values, NCD and coverage. A cheaper policy may offer different benefits or exclusions, so the price alone does not tell the whole story.
Why do car insurance prices differ?
Different pricing by insurers
Insurers may assess risk differently, so prices can vary for similar coverage. Learn more about motor insurance liberalisation from Bank Negara Malaysia.
Car model and insured value
Your car's model, age and insured value can affect the premium. Repair costs and spare-part availability may also influence the price.
No Claim Discount (NCD)
An eligible No Claim Discount (NCD) can reduce your premium under the applicable rules. Check your current discount using the BJAK NCD Checker.
Coverage and add-ons
Optional benefits, such as windscreen protection and Special Perils cover, may increase your premium. Compare quotes with similar coverage to understand the actual price difference.
What should you check before choosing a policy?
Don't choose based on price alone. Compare these details before making a decision.
- Vehicle details
Different cars may have different premiums
- Insured value
A different insured value can change the price
- NCD
Your eligible discount affects the premium
- Coverage type
Comprehensive and third-party policies provide different protection
- Add-ons
Extra benefits may increase the cost
- Excess and exclusions
These affect what you may need to pay and what is covered
A lower premium is worth considering when the policy also meets your protection needs. Always check the benefits, exclusions and excess before buying.
How to compare car insurance on BJAK
Enter your car details on BJAK's car insurance platform.
Check your NCD and insured value to make sure the information is correct.
Compare available quotes from participating insurers and takaful operators.
Review the coverage and exclusions before deciding.
Choose a suitable policy based on both price and protection.
Frequently asked questions
BJAK's internal data shows an average difference of RM115 per request between the median premium and the lowest premium. Actual savings depend on the quotes available for your car and coverage.
The median premium is the middle price when premiums are arranged from lowest to highest. It gives a useful reference point for comparing the lowest available premium.
It means 85% of the 5,154,622 quote requests analysed had a lowest premium below the median premium. It does not mean 85% of customers saved the same amount.
Not necessarily. A cheaper policy may have different benefits, exclusions or excess. Check that the coverage suits your needs before choosing.
No. Comparing quotes does not, by itself, reduce your NCD. Your NCD entitlement depends on the applicable rules and your claims history.
Compare car insurance quotes on BJAK
Comparing quotes can help you see the price differences available for your car and identify a more affordable option. Review the coverage as well as the premium before making your choice. Compare car insurance online and explore the available quotes for your vehicle.