Motorists will have to pay more for the motor insurance cover from January 1, 2012 onwards. For those who have been following the news, you would know that general insurers have been lamenting about an unsustainable motor insurance framework for the longest time.
Motor insurance tariffs have been stagnant for more than 30 years. Accident rates are up (why – have our driving skills become worse, or perhaps our roads?), and cars are becoming increasingly more complicated and expensive to fix.
Under the new motor cover framework, premiums will go up from the January 1, 2012 and will gradually be increased over a period of four years. From 2016, it seems the motor cover industry will detariff, which will allow general insurers to set whatever prices they want, opening up the possibility of competition to offer the best rates to car owners. We could end up seeing more premium insurance providers with quick and premium service alongside “no-frills” budget insurance providers, with a lot of hurdles during the claims process.
Here’s an example of the changes that will happen in 2012. For Third Party cover, motorcycles with 110cc engines will have their premiums increased by amounts of between RM1.00 to RM3.50 per year. For a private car with an engine size of 1,400cc, premiums will go up by between RM6 to RM34 a year. These are the only examples released by Bank Negara so far – we will report more info once it’s available.
Looking to sell your car? Sell it with Carro.
KY
on 
squall_shinoda
on 
_xXx_
on 
tokmoh
on 
Miwqa
on 
Lotus Concepts Production Dream
on 
sawadeekap
on 
kington
on 
Wan
on 
mystvearn
on 
Paul Tan
on 
pomen_gtr
on 
Jonjo
on 
Kelvin
on 
gangully
on 
BalanceD
on 
LE buruk
on 
kaisers
on 
yamseng
on 
ntahler
on 
b
on 
Firdaus Abdullah
on 
tokey insuran
on 
duka
on 
gun
on 
macaruda
on 
hayden
on 
Hantu Kak Limah
on 
kam
on 
fuel cell phone
on 
jaya
on 
biggie
on 
mokkf82
on 
DewaSemut
on 
nabill
on 
chicken on the road
on 
kadok
on 
Malcolm Lim
on 
Safe Driver
on 
Black Dog
on 
gogo2
on 
Sonic Boomz
on 
nasmah
on 
4agze
on 
sir zoula
on 
weekee
on 
Erwan Billy
on 
ezracopters
on 
KingHenry14
on 
leekowchai
on 
apax
on 
blackjkx
on 
Radio
on 
fazron80
on 
yyy
on 
ray_jay
on 
baba
on 
nikita
on 
nmh
on 
redboy
on 
saladin
on 
4g63tdsm
on 
pojie
on 
Btq
on 
Nono
on 
Malaysia Memang Boleh
on 
gigganet
on 
bongek
on 
carsut
on 
GTR-Godzilla
on 
the_fighter
on 
Sabahan1M
on 
Huhu
on 
f1 fan
on 
VW_fans
on 
akmal
on 
ayamxxx
on 
gemuk
on 
CCLV
on 
karl
on 
greed
on 
WhySoSerious
on 
xadi
on 
transformer
on 
Hadi75
on 
nothing
on 
khc
on 
Kenariman
on 
kecohlebih
on 
akubarurenewinsurankapcai
on 
utau
on 
yupyup
on 
eposuer
on 
Yusman
on 
Tu Lan Bank Negara
on 
DD
on 
rakyatbiasa
on 
Hafidz
on 
littlefire
on 
whospoonfedu...
on 
monetaryslave
on 
vincent
on 
V_power
on 
azrai
on 
madfry
on 
i am
on 
Emmert
on 
Sarah
on 
AI-generated Summary ✨
Comments generally express frustration and concern over the proposed insurance premium hike starting January 2012, citing already high costs and poor road conditions as causes for accidents and higher claims. Many criticize insurance companies for profit motives, overclaims, and collusion, and suggest reforms like a fairer risk-based premium system, reward and penalty schemes for safe or reckless drivers, and transparency in premium calculations. Some blame increased vehicle numbers, road quality, and enforcement issues for rising accident rates. Several commenters feel the increase unfairly burdens the rakyat, especially the lower-income, and accuse the government and insurers of benefiting at citizens' expense. Overall, sentiments highlight dissatisfaction with rising costs, calls for better regulation, and skepticism about the industry's and government’s motives.