It’s Not My Fault! Why Deduct My NCB?
Isn’t that a question you normally hear? Well, to me, anyway. NCB - No Claims Bonus, is an incentive offered by Insurers to motor policy owners when there is no claim made on the motor policy for the preceding year. As an illustration, assuming you bought a new car. You will have to pay the full insurance premium for the first year of ownership. If there is no claims made in the first year, the Insurer will offer the policy holder a 25% discount off the basic premium for the second year. It will increase on a year to year basis up to 55% discount.
Now, if you read carefully, you will notice that this is a No Claims Bonus. It is not a No Fault Bonus. Many people have the mistaken belief that as long as an accident is not due to their fault, they will still have their No Claims Bonus retained for the subsequent year. Read more
Automobile Association of Malaysian - Necessary to join? 2nd and Final Part
This is the 2nd and final part of my series on Automobile Association of Malaysia – Necessary to join? Prior to this, I highlighted some of the benefits and services offered by AAM, which many would find a relief at times of emergencies. But there are alternatives which are free and I share some of them here:-
Most general insurance companies nowadays that deal with Motor Insurance Policies offer a complimentary 24-hour breakdown service which includes towing (usually up to RM200.00) and battery replacement / jump-start service. Some include minor on-the-road repairs. Just check with your insurer on this. Read more