BMW Credit (Malaysia) Sdn Bhd is now offering BMW Motor Insurance for both owners of new BMWs and aged ones. The new BMW Motor Insurance package is underwritten by Allianz General Insurance and guarantees that the buyer of a new BMW will be entitled to a brand new car if the car is stolen or totalled in an accident within the first 12 months from date of purchase.
Used BMWs purchased from authorised BMW dealers in a similiar predicament within the first 12 months will also receive a full insured value claim settlement with no market value adjustment. In the event of an accident, the owner can just give a customer support hotline a call and the car will be taken to the nearest authorised BMW service center. In the case of repairs, only BMW genuine parts will be used.
“The new comprehensive BMW Motor Insurance is all about peace-of-mind motoring. It is the only insurance supported by BMW, so customers are assured that when untoward incidents occur, their car will be handled by experienced professionals,” said Joe Hall, managing director for BMW Credit and Lease.
“Our customers’ investments are significant and we want to ensure that they have a truly premium ownership experience. A BMW customer now has a total one-stop experience at the dealership beginning with the most innovative finance packages and also insurance. In combination with BMW Service Inclusive and Repair (BSI+R), a BMW customer in Malaysia who purchases his vehicle from an authorised dealership has complete protection and peace of mind. BMW is the only brand in the segment to offer anything like it,” said BMW Group Malaysia’s newly appointed managing director Geoff Briscoe. Mr Briscoe replaces Mr Wolfgang Schlimme.
Looking to sell your car? Sell it with Carro.
Like this, can make business say car stolen, get new beemer, old beemer sold to illegal car smugglers…
well, that’s always the case with insurance isn’t it? it can be abused. most common case of insurance abuse is with mobile phone insurance overseas… you buy a phone, insure it, lose it, get a new one, sell off the initial phone. the concept can be applied to the automobile industry like you said… but how many attempts can you make before the insurance companies are hot on your trail. insurance is there for protection, not for abuse though.
paul,
what about other luxury brands like audi and merc? do they have a response or some concept similar to bmws? any news?
This, I think, is an act of ‘self defence’ by BMW Malaysia. It has competitors in the form of the new Audi A4 and the Merc C class, as well as the S class. All BMW has now are the popular 3 series, and the ageing 5 and 7 series which underwent mere facelifts. What it has are actually new award winning engines, but in the Malaysian context, very few even bother about engines. The 3 series are being solidly attacked by the new C class. The 320i is losing to the C 200 kompressor elegance, and now Merc is taking orders for the 2.5 litre C230, fighting against the sublime 325i with the new 218bhp engine, against 204 for the Merc..As it is, BMW has one of the lowest rate of financing, and now this new insurance policy. The downside to this policy is that it only is effective for 1 year. After that, what?
Is this insurance policy cost a lot more than the normal ones? or remains the same? Afterall, we are looking at a higher risk here…
Even electrical appliances from Courts and Sen Heng now offer fully replacement product. That’s good. No point giving warranty but we have to send the vehicles, wait, and stare. Just like perodua’s 6 years warranty. It’s sound good, but actually a hussle for the buyer.
Allianz is problem. Limited panel workshops. Despite claim charter of not more than 7 days, my claim take 22 days to be approved. Better choose other insurer.