It is time to renew your car insurance if you haven’t done so already. If you’ve got a hectic schedule, fret not! Here’s how you can start comparing car insurance in a mere three minutes.

Before the dawn of online insurance comparison platforms, it was quite a hassle for consumers to find and purchase the best car insurance. Back then, comparing car insurance and getting quotes can take a while, not to mention having to visit insurance providers in person, one by one. It was very time-consuming and required a lot of effort.

Thanks to technology, you no longer have to leave your house to get your car insurance. Now, you can compare and customise your car insurance plan before you buy it, all in three minutes or even less! Here’s how it works on FatBerry’s AI-powered platform when you click the ‘Get Started’ button:

1. Give us a few relevant details.

We will ask you a few things, like your vehicle location (provide us with your postcode), your vehicle registration number, and your ID number.

2. Ensure that your vehicle information is correct.

In less than five seconds, we will show you the complete details of your vehicle. Ensure that your vehicle information is correct, including Vehicle Make, Year, Vehicle Chassis Number, Vehicle Variant, Vehicle Model, Vehicle Engine (CC), and Vehicle Engine Number.

3. Choose from a list of car insurance plans.

To proceed further, provide your email address and phone number. In a few seconds, we will present a list of car insurance plans for you to choose from, complete with insurance providers, the sum insured, and the gross premium. 

To get the best premium rate, you will need to provide a few more info, including your years of driving experience, your gender, and your marital status. Your car insurance premium will be calculated based on risk characteristics. The greater the profile risk, the higher the premium. The lower the profile risk, the lower the premium.

Once you have updated your driver information, read the coverage and benefits offered by each provider. Next, after you’ve decided which plan is the best for you, you may proceed with choosing the add-ons that you need.

4. Choose your add-ons.

When choosing the add-ons, do bear in mind that the more add-ons you choose, the higher your premium rates will be. So choose carefully and get the add-ons that you truly need. Consider the location of your vehicle if you’re not sure whether you need a particular add-on or not.

For example, if you live in an area that is vulnerable to natural disasters, like landslides or floods, you can get additional coverage for any damages to your vehicle due to natural disasters. Similarly, if you live in an area with a higher rate of vandalism, theft, accidents, civil commotion, riot, or strike, opt for the right coverage.

Should you have any questions, don’t hesitate to have a live chat with FatBerry’s support team via WhatsApp or Facebook Messenger. You may click on the purple button located on the lower right side of the page to start a conversation. 

State what it is that you want to talk about. For example, maybe you’d like to get help with choosing the right add-ons, or you may need more advice on choosing the best plan for you before you buy it. Next, select the chat channel of your choice, and you will instantly be taken to the channel for further conversation.

5. Fill in your details.

Fill in your personal details. Make sure everything is correct and complete. Once you’ve reviewed your details and all is good, you may proceed to pay for your car insurance plan.

Enjoy additional special promos when you renew on FatBerry’s platform

Now that we’ve shown you how easy it is to compare car insurance on our platform, it’s time to renew your car insurance if you haven’t done so already. However, you can only renew your policy within two months before your policy expiry date. So be quick and be on time!

For those with a Visa card, here’s some good news for you: enjoy the ‘RM1 Road Tax with Fatberry’ special promo when you renew your car insurance and pay with your VISA card on FatBerry’s platform! 

That said, if your car insurance has not expired yet, don’t worry. Just click ‘CHOPE’ for your next renewal. This deal is exclusively for Visa cardholders only, where you can claim your RM1 road tax later. In other words, you can reserve the promo first before the deal ends.

On the other hand, if you’re interested in earning some extra cash, refer your friends to our platform and earn RM30 when your friends renew their insurance with FatBerry! Check out our main page for more info!

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

It’s the new year, which means your vehicle insurance has probably already expired. Now is the time for car insurance renewal. 

For first-time vehicle owners, this might also be your first time renewing your vehicle insurance. Since vehicle insurance is compulsory by law in Malaysia under the Road Transport Act 1987, vehicle insurance renewal is something that you’d have to do every year, as vehicle insurance in Malaysia has a standard coverage that lasts for one year.

Vehicle insurance renewal is no longer a hassle now, as you can compare and renew vehicle insurance instantly and conveniently. Instead of visiting a few insurers to compare the plans one by one and going to JPJ to renew your road tax, everything can be done online now, including on our platform.

Have your personal and vehicle information ready before your vehicle insurance renewal

Before you start looking for the best vehicle insurance plans and renewing your vehicle insurance, some information will be required, specifically your personal and vehicle information. So make sure all of the information required is ready. Similar to when you were buying vehicle insurance for the first time, some of the info needed may include:

• Your full name
• IC number
• Contact number
• Address/location
• Vehicle number
• Vehicle model

High-performance engines: Higher premium rates

Keep in mind that you may get a higher premium rate if you own a sports car or a vehicle with an intermediate to high-performing rear engine model, compared to average cars. However, this doesn’t mean you can’t lower your premium rate.

For example, if your driving record is good and only selects the coverage and benefits that you truly need (minus the unnecessary add-ons), you could get a lower premium rate.

Understanding vehicle insurance detariffication

First, as a newbie, you must understand the Malaysian detariffication of vehicle insurance (or the removal of tariff). Before 2017, Bank Negara Malaysia was the one that controls the calculation method for vehicle insurance premium.

Once the tariff was removed, insurance companies can now implement their ways for premium calculation. Risk-based pricing is often the method used to determine your premium rate.

Risk-based pricing: The new method of premium calculation 

This means that aside from relying solely on your vehicle information such as engine capacity and market value for premium calculation, your risk factors will also be considered, such as your driving record, gender, and age.

This detariffication isn’t necessarily a bad thing, as you can expect better premium rates, various product selections, and improved customer service, as insurance companies are now competing with one another to provide the best plans for consumers.

How you can take advantage of the risk-based pricing method

Your premium rate will be higher the more risk you carry based on this method, and vice versa. You can try to lower your premium rate by knowing what insurers consider as risk factors, like:

How you use your vehicle

• If you’re commuting to work daily, chances are your premium rate will be higher, especially the further your office is located and where you drive (like the highway), compared to a housewife who only uses her car to run errands.

Type of your vehicle

• As mentioned previously, you may get a higher premium rate if you own a sports car or a vehicle with an intermediate to high-performing rear engine model, compared to average vehicle. 

Your claims history

• Claims made previously indicate that you’re a high-risk driver. Therefore your premium rate will be higher.

Your level of education or occupation

• As unfair and discriminatory as it is, the better your level of education or occupation, the lower the risk you carry, as perceived by insurers.

Your gender

• If you are female, you may be in luck as your premium rate could be lower than most male drivers because female drivers are safer and drive more carefully.
• According to The Global Status Report on Road Safety published by the World Health Organisation (WHO) and the World Bank in December 2018, Malaysia had 7,152 deaths in 2016; 87% were males and 13% females. 

Your age

• Young and less experienced drivers are perceived as high-risk drivers, so the premium rate will be higher. 

Your location

• City-dwellers will often get a higher premium rate compared to those living in rural areas because most cities have a higher rate of vandalism, theft, and road accidents.

Now that you know what risk factors are taken into consideration by insurance companies when calculating premium rates, it’ll be easier for you to figure out a way to get a cheaper premium rate.

There are at least two things that you can do to lower the premium rate, for example: 

Highlight your good driving record and zero claims history

• Both will be in your favour.

Increase the security of your car

• Ensure the auto-locks and alarms are working all the time. Install a few things if you can afford it, like a dash-cam. Reduce the risk of vehicle theft or damage by parking at a safe or well-guarded location. 

Avoid unnecessary add-ons

• The more add-ons you opt-in to your plan, the more expensive your premium will be. Agents may try to sweet-talk you into add-ons that you might not even need. So think carefully about what you need as a driver. 

Once you fully understand how motor insurance detariffication plays a role in determining your premium rate and how to lower it, you can start setting up your profile on our platform for motor insurance renewal. Receive quotes, compare, and make add-ons instantly from the comfort of your home!

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.

Most vehicle owners would know that car insurance is compulsory in Malaysia. But what about the coverages? What does car insurance cover and doesn’t cover? Find out more.

Just like any other product, car insurance (also motor insurance) plans in Malaysia aren’t all created equal. Though all car insurance plans available aim to provide financial protection for the policyholder (against liability, physical injury, or damage due to road accident), the terms and conditions and the add-ons may vary between insurance providers.

There are three kinds of car insurance policies in Malaysia: comprehensive coverage; third-party, fire and theft coverage; and third-party coverage. Each of these policies provides different kinds of coverage. Let’s take a closer look at every one of them:

Comprehensive coverage

• As its name suggests, the comprehensive coverage covers mainly everything, not only the third party but also your vehicle. Whatever vehicle-related loss or damages that you are facing, you will be covered. However, this will also depend on your vehicle’s age, which means not every vehicle is eligible to be provided with this coverage.

Third-party, fire, and theft coverage

• For the third-party fire and theft coverage, you will be covered for any claims made by a third party against you due to a road accident that results in vehicle damage, loss of property, bodily injuries, and death. This coverage plan also covers you for damages caused by fire or even grand theft auto (NOT the video game).

Third-party coverage

• Meanwhile, the third-party coverage provides the most minimal and basic coverage, so it is the cheapest coverage among the three. As the name suggests, this coverage will only protect the third party involved in the road accident. 
• Any damages done to your car will not be claimable. However, you are allowed to claim for whatever compensation is required by the third party.

Now that you know the basics of what the standard car insurance in Malaysia covers, you may be wondering what the standard car insurance in Malaysia does not cover.

What the average car insurance in Malaysia does not cover

It is important to note that while most car insurance offers coverage for third-party injuries or death and any damages done to your vehicle or the third party, neither one provides coverage if you are injured or passed away due to the accident.

For this, you will have to get personal accident insurance, which is separated from car insurance.

So when you’re comparing several car insurance policies, look out for the ‘Exclusions’ stated in each policy, as they may also vary between policies. Exclusions simply mean the losses that are not covered by the policy.

Some examples of exclusions include the following:

• Your own bodily injury or death caused by a road accident
• Liability against claims by passengers in your car
• Liability, damage, or loss caused by natural disasters, such as landslide, storm, or flood
• Tire damages (exception is given if other parts of your car are damaged as well at the same time)
• Liability, damage, or loss that arises when you’re driving the vehicle for hire or e-hailing
• Liability, damage, or loss caused by racing 

These are only a few examples of exclusions that you can find in various policies. Therefore the list is not exhaustive. You can only view the complete list of exclusions when you’re handed the policy contract (or a sample of the policy contract).

For this, you’d have to get in touch with an insurance provider of your choice.

Add-ons: Get the protection you want and need

Of course, if you are not satisfied enough with what’s being provided by the standard car insurance coverage, you can always opt for the add-ons. However, the more add-ons you get, the more expensive your insurance premium will be.

Your insurance provider will calculate your premium based on factors like:

• Coverage type
• Vehicle type
• Driving record
• Driver’s age and gender
• Where the driver lives

Therefore, the add-ons that you choose depend on the factors mentioned above. Here are a few examples of add-ons, which are basically protection against damages or liability, that are available for policyholders to choose from:

• Vehicle’s windscreen damages
• Vehicle’s audio and accessories damages
• Vehicle damages due to natural disasters (e.g., landslides, storm, or flood)
• Vehicle damages due to a civil commotion, riot, or strike
• Protection against liability claim from your passengers (in case of an accident)

To reiterate, not all plans are created equal. This means the add-ons provided by various insurance companies in Malaysia will also be different. If you’re looking for any specific add-ons, choose an insurance policy that provides the add-ons that you want.

That said, with so many car insurance plans available on the market, it can get overwhelming to compare them manually one by one.

Because comparing insurance plans can be time and energy-consuming, we highly encourage you to use an online insurance comparison platform like FatBerry for convenience.

Compare insurance quotations instantly and buy in three minutes!

*The content provided is for informational purposes only. FatBerry makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Should you require more information on our products, please refer to fatberry.com or contact us.