Frequently Asked Questions (FAQ)
This section highlights the frequently asked questions (FAQ) for our Malaysian operations.
The main principles of insurance are as follows:
In the event that you do not receive your policy within 14 days from the submission date of complete documents, please contact us.
No, except for Fire and Motor Insurance which are tariff rated.
The basis of valuation for the determination of the sum to be insured (excluding land) is either the market value or reinstatement basis (as new but not superior) irrespective of outstanding loan amount if any. Property valuers are the best parties to provide the correct valuation for buildings.
You may refer to www.mycarinfo.com.my for your current market value.
The basis of valuation for the determination of the sum to be insured is either on market value (less depreciation) or replacement value (as new but not superior) of the same make, model, and year of manufacture.
No. The NCD (No Claim Discount) is applicable to one vehicle at any one time but is transferable between same type of vehicle eg. private car to private car.
Electronic Credit Payment (ECP)
No, you can enjoy the service free of any charges.
Important Note: Please ensure the IC Number or Business Registration Number maintained by your bank is
You can assign any of your existing active saving or current account held under your name or in the case of a joint account that has your name as one of the account holders. The saving or current account must be maintained with one of the financial institutions offering MEPS Inter-Bank GIRO (IBG) service.
Please refer to the following website for a current list of IBG members http://www.myclear.org.my/faqs/interbank-giro-faqs/
Yes, you are allowed to change your bank account details by submitting the required supporting documents substantiating your request to us. No cost will be charged for this purpose.
Payment will be made electronically into your bank account by us. Generally, funds will be made available in your bank account within the same day of payment. However, depending on the processes adopted by your bank, you may receive the payment on the same day or a day after.
Yes, an e-mail or sms will be sent to you once the payment has been made. Therefore you have to provide us your email address or mobile phone number to receive electronic notification.
If funds cannot be credited into your bank account due to, for example, incorrect bank account number, closed or inactive bank account, we will contact you to validate your bank account details. However, this may lead to unnecessary delay to the payment process. To avoid this, please ensure that your bank account is correct and active upon providing such information to us. Otherwise, we will arrange to remit the payment to you via cheque.
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