While we understand you may be on the hunt for cheaper car insurance, but selecting the best insurer should not be purely based on price only. It’s important to consider these factors before making a decision:
- Limited coverage: Cheap car insurance often provides minimal coverage compared to more comprehensive policies. You may find that certain benefits or features, such as roadside assistance, personal accident coverage, or protection against natural disasters, are not included or have limited coverage. This could leave you vulnerable to financial losses in case of accidents or unforeseen events. Check if the coverage proposed is a comprehensive insurance or Third Party Insurance.
- Higher excess: Cheaper insurance policies usually come with higher excess amounts. The excess is the portion of the claim that you are responsible for paying whenever you make a claim. Check if the quotation imposed any form of excess.
- Limited add-ons: Additional coverage options or add-ons, such as coverage for loss or damage to personal belongings, windshield protection, or courtesy car benefits, may not be available or may come at an extra cost with cheaper insurance policies. These add-ons can be valuable in certain situations, and their absence could limit your protection.
- Poor customer service: Cheaper insurance providers may not prioritize customer service or may have limited resources to handle customer queries, concerns, or claims efficiently. This can lead to delays, frustration, and difficulties in getting the support you need during critical times. It is advisable to get insured with reputable insurer like Allianz or Zurich.
- Limited network of workshops: Cheaper car insurance policies might restrict you to a limited network of authorized workshops for repairs in case of accidents or damages. This could be inconvenient if the authorized workshops are not easily accessible or do not meet your expectations in terms of service quality and convenience. For list of respective insurer’s panel workshop, check out at www.panelworkshop.com.my
- Substandard claim process: Some cheap insurance policies may have complicated or lengthy claim procedures. The insurer may try to minimize their payout or delay the claim settlement process, causing additional stress and inconvenience for policyholders.
It’s important to carefully review the terms and conditions of any insurance policy, including the coverage limits, exclusions, and additional benefits before deciding to renew the cheapest car insurance. Consider your individual needs, budget, and the level of risk you’re willing to bear to ensure you have adequate protection for your car.
If you are worried and wish to have a insurance professional to assist you, do whatsapp to 013 3521318 for assistance.