When one falls victim to theft, whether it’s a bag or your car that they took, it’s not just about the material loss, but the inconvenience one has to go through. If it’s your bag or wallet, the IC and driving license will need to be replaced, which means spending hours at a government agency. If your car gets stolen or is damaged, you would have temporarily lost your main mode of transport.
It’s a hassle, which is why this piece of news caught our eye. An insurance company now offers replacement cars for customers who are involved in an accident or fall victim to theft, Bernama reports.
Allianz General Insurance said that the replacement car benefit is for its Enhanced Road Warrior or CIMB Auto Relief policy for three, four or five days, depending on the plan. The customer needs to provide a photocopy of his/her identity card and the police report.
Accidents and theft are unforeseen events that will leave people stranded, literally. “When we thought about this, we felt the best solution possible is to provide replacement cars for consumers who are caught in this difficult situation while getting their cars repaired,” said Allianz General head of sales, Rafliz Ridzuan.
Good consolation in an unfortunate situation, we think, as not everyone has a second set of wheels at home. What say you?
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It’s quite a common practice in germany, that if you met with an accident the insurance company will provide you with an alternative car as long as it takes to repair your car.
What is the Insurance Regulator doing about all the false claims for car accidents? All of us know that when we meet an accident, though the damage is about, say RM5000, but after the claims and repair are done, if you call your insurance company, you get a shock to find out that the repairs amounted to RM20,000.
Yes, the adjusters as well as the police are in it. Please Bank Negara, do something about this. I have had at least 5 accidents and at the most, damage was RM1000 but when I call to find out how much was claimed, the total each time was about RM8000.
This is getting out of hand. 9 out of 10 cars have fraud adjusters involved who get kickbacks from the workshops and also the Investigation Police officer also gets kickbacks from the workshop making the claims.
This is why our premiums are getting higher and higher. It is because of corrupt adjusters and corrupt policemen.
Anyone dares to contradict what I have said? Don’t believe, go and call your insurance company and see how much your last accident cost the insurance company. Even a small nudge on the bumper also, about RM3000 is claimed. Bank Negara, please lah do something about this. The Insurance Industry recently increased the premium because they said cost was rising. Well cost is rising because your adjusters are all multi millionaires receiving kickbacks from the workshops, and these workshops are cheating you all left right and centre.
Debat bukan budaya kita, tapi songlap budaya kita tak kira dalam public or private sector.
It’s true man. A motor insurance company I know make millions of losses, but some things don’t tally.
figures claimed by the workshops do not necessarily mean it is approved by by insurance. The days of fraud were long gone, when every insurance companies now trying hard to reduce cost and the best adjusters company are competing hard to get business. basically, the best adjusters will win (meaning the most clever at cutting cost down.
and more often than not, especially for cars more than 5 years old there is a type of deduction called betterment.
still not happy? go complaint at Bank Negara rather than shouting out loud here.
The days of insurance fraud is not long gone. It has and is always there. The adjusters were the ones to keep fraud at bay, but what to do if the adjuster themselves are the crooks? Its like the polis. If the polis themselves terlibat, what to do then? alldisc sounds like an adjuster. If only there is no car accident fraudelent claims, the whole industry can save tens of billions per annum. Have you ever wondered why the trafik polis are so super rich and all of them are flooding with money?
What you said is damn true. Last 2 weeks my fren car kiss mazda6 ass. M6 bumper no dent only about 50cent scratch. Owner bising and want to claim my fren insurance. That fine, but the bill came out 7k++? My fren asked how the hell adjuster did that? Insurance company tell bunch of crap story. Last but not least, those adjuster really like gangster. Especially the indian. Not to racist but is true.
Chouldn’t agree more on this
Lady kiss my bumper of my Waja last week at traffic light when both she and I was stationary. Bumber bracket broken so, I had to change the whole bumper. After that she cabut.
Since my NCB zero because of accident last year, I decided to just claim insurance. My bengkel handled everything for me, i just sign only. Insurance company called me to check my details and I ask them how much. They say RM6000!
Waja bumper is RM6000 siul. I think that is Ferrari bumper price
Insurance won’t pay for new parts replacement for a car >5yo which met an acc; we knew its over claim by non-relevant party; min insured 10k for a car worth less than that amount, n worst buying insurance is just for the sake of enabling road tax renewal. At the end of the day, ask for premium increase. It’s sick! Stop all this crap!
only 3-5 days? hmm..
if the bag was stolen, how come they can provide the IC for identification as mentioned in the third para.?
That’s why u must have a police report 1st..
2 months sounds more logical; insurance company has no power to control/give a deadline regarding the repair work; the bengkels are too busy or spare parts are not available locally etc etc. So good luck everyone, you either hire a replacement car, use bus/taxi, or best of all, rear one or two more spare vehicles.
But 3 to 5 days is enough for us to quickly ‘keluar’ one brand new car(some cars have existing stock).
I for one do not have a second car at home so this plan does provide more convenience if the unforeseen ever happens but a maximum of 5 days is not enough for one to get a new car after its stolen or involved in an accident.
It takes weeks for an insurance company to process a case so what are we supposed to do after the 5th day? Borrow our parents’ mode of transport?
What alternative car their provide?proton saga flx or viva?
Kancil.
Car of your choice. Probably a BMW? Benz?
Wake up dude. Car provided is for convenient purpose.
4-5 days replacement..mmm..better then nothing..
but could be improve more for ins customer & satisfaction.
this will become another insurance company strategy for attract more customer.
true. the same happened when some insurance companies started to provide free breakdown assist as well that now almost all insurance companies are doing the same.
consumers win.
Insurance companies are almost like conman. Today they say one thing, another day they say different thing. You have to read their escape clause!
Yup. Insurance and Banks the same.
Lends you unbrella on a sunny day and takes away umbrella on a rainy day.
if the replacement car also got stolen, that’ll be big trouble but yet funny.
We need to be informed on the fine print. Insurance companies are known not to give things too easy. And max of 5 days? That’s too short of a period in giving a replacement car. Nevertheless, it a good move which will benefit car drivers. It’s just that these companies need to be very clear on the terms and conditions.
ugh insurance companies…i bet u have to pay alot more for this one, taking the risk only IF u get into an accident. just rent a cheap car if u really need one rather than paying these rich companies for god knows if its trustworthy.
from 2005-2009, an average of 21,501 cars were reported stolen every year*, imagine how many replacement cars need to be provided by the insurance companies. this is like 60 cases a day, or 2.5 cars every hour.
can they cope or not?
* Insurance Services Malaysia Berhad. 2010. Statistical Bulletin. Motor claims register – January to December 2009. Vol. SB 2002-184
It’s an optional extra here (I pay about $5 more per month on my premium with a $1k to 1.5k limit (no days limit) but most basic rentals usually start at $20 per day. Insurance companies and/or body shops have an agreement with a (usually nearby or on-site) rental car agency (usually enterprise here in the US) but they almost always give you a compact regardless of what car you drive. Nonetheless, the mechanism is usually seamless and they get you in a rental car quick. You do have to pay extra for upgrades and additional rental car insurance coverage/waivers and sometimes local taxes, so it’ll still cost you money. Still cheaper than a cab though.
I read few times still can’t get what does it mean of replacement of car????
Only under certain circumstances insurance company may/may not apply this method (replacement of car )..
Example One:
If a car involved in an accident which end up the repairing cost is >75% of Sum Insured, the insurance may consider to apply ( non economic to repair ) in order total loss this car… Either pay you according to current market value or if your policy is agreed value then it pay according to sum insured as per stated in the policy. Unless the customer disagree with the claim amount then only insurance company will search for “similar model with same manufacture year ” to compensate to client.
Or Example Two.
The car being stolen which will end up need to wait for maximum 6 months for investigation (stated clearly in policy jacket) …. If 6 months can’t be found, then ins company will pay:
A) market value as per stolen date. OR
B) Agreed value, pay according to sum insured as per policy.
But if still not satisfy, policyholder or ins company can look replacement car(same model & year of manufacture) then pass all related document to bank to endorse and you continue to pay your hire purchase.
Because certain model car depreciation is much faster than your monthly installment, so if you take money also can’t settle the outstanding so you may choose to ask for replacement of car and cont your to pay your loan.
But believe some company can consider to apply it as long as within 4 years of vehicle (calculate based on year of manufacture) because under comprehensive coverage(1st party) you also will pay 100% according to OEM part price. 5th onward will have betterment ready….
It’s good to apply it for current market…. Which see it suppose to practice it since 5 years ago but not so welcome by general insurance industrial.
Thanks
Inquiry:
I’m buying online auto insurance. Quotation from agent received thru email. Question is how do for sure the agent will proceed with genuine insurance policy? I received the agent number. How can I confirm with the insurance company.
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