Insurance service provider MSIG Malaysia has introduced E-Hail E-Zee, a motor insurance add-on catered specifically for drivers of ride-hailing services like Uber and Grab. The new offering provides additional coverage on top of those already given for comprehensive motor insurance.
The approved add-on has been created by consulting various parties such as Bank Negara Malaysia and the General Insurance Association of Malaysia (PIAM), and is said to be compliant with incoming regulations requiring drivers to purchase insurance for passengers as well.
Coverage provided by E-Hail E-Zee includes legal liability to and of the passenger, the latter compensating for the passenger’s negligent acts beyond what is reasonable for the driver to control. This includes, for example, the passenger opening the car door without checking, resulting in an accident, damage or injuries to other vehicles or pedestrians.
As such, the full coverage provided to authorised ride-hailing drivers includes:
- Loss or damage to the vehicle due to accident
- Loss or damage to the vehicle due to fire or theft
- Loss or damage to third-party’s vehicle or property
- Death or injury to third-party involved in an accident
- Legal liability to passengers and legal liability of passengers
- Accidental death or permanent disablement to the driver
According to MSIG, because E-Hail E-Zee coverage is risk-based, pricing will depend on several factors, including the sum insured for the vehicle as well as the policyholder’s details. However, it is said to be relatively affordable, with an additional premium of between RM0.30 and RM0.70 a day for a standard vehicle under 1.5 litres with a full 55% no-claims discount (NCD).
E-Hail E-Zee joins a number of new motor insurance add-ons introduced by MSIG since the liberalisation of the motor insurance market earlier this year, including Waiver of Betterment Cost, Limited Special Perils, Smart Key Shield and Driver’s Personal Accident Insurance.
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And whats new? Coverage provided by E-Hail E-Zee includes legal liability to and of the passenger – which is available for RM38 from any car insurer