Insurance Without Loading

[alwhitesat]

My roadtax and insurance is going to expire next week. It is a 14 years old car.

Any members have renewed their 10+ years old car' insurance without loading?

 

[DanzEterna]

yeap, try takaful bro.....
but sum insured is less....for example i wanted to insure my 14yr old car for rm26k, but takaful only able to insure rm22k, no choice.

 

[alwhitesat]

yeap, try takaful bro.....
but sum insured is less....for example i wanted to insure my 14yr old car for rm26k, but takaful only able to insure rm22k, no choice.

Thanks bro, but which insurance company......and why they ask u to insure only 22k instead of 26k? Is 22k the market value?

 

[DanzEterna]

1st i renew my roadtax with MyEG, then i emailed the officer to kautim my insurance together that time im with kurnia insure rm26k...he said can but there will be loading bout rm200-300 cant remember....so i said any other alternatives? he said can i change insurance company to Etiqa Takaful, got no loading but they can only insure Rm22k....how come like that? its their policy...even the officer said he had a satria 1997 also the same....cannot do anything.....unless u wanna pay the loading fees diff story la...

 

[jimmyae101]

sorry bro..am not understanding what is loading?just buy insurance then go any post office renew road tax lo....what is 'loading'?

 

[alwhitesat]

sorry bro..am not understanding what is loading?just buy insurance then go any post office renew road tax lo....what is 'loading'?

loading is a premium u pay on top of ur insured car..it applies for "high risk car" (more than 10 years old) and "high risk driver"(not sure...probably more than 55 kot)..they were set by the BNM..

 

[jimmyae101]

oh thank for info...if car still on bank loan,of coz we willin buy 1st class insurance...then after settle loan,we can opt to cheap insurance which only cover other but no self...

 

[yloon]

etiqa takaful also charge loading already.

 

[vr2turbo]

Heard all insurance will charge from 10 years old up. I use to renew with help from my wife's cousin. No loading until even 20 years, but lately cannot already. Some more loading is 20% for 20 year old car.....

 

[ExceL]

Sadly there is no way to escape for us who's cars are older than ourselves.. unless you work in the industry. Agents *might* be able to get it for you, if they are good..but then it still comes down to the company is they want to accept such "high" risks.

Fingers crossed for the free market..

 

[vr2turbo]

Sadly there is no way to escape for us who's cars are older than ourselves.. unless you work in the industry. Agents *might* be able to get it for you, if they are good..but then it still comes down to the company is they want to accept such "high" risks.

Fingers crossed for the free market..

Yup, you are right. But then if go through agent you don't get 10% rebate come back to square one.

My ride now is 21 years old. This year even though renew with same Insurance company, they have to seek management approval before they accept my renewal.... but lucky they did...

 

[DanzEterna]

wah...susah la like that....i cannot afford new car have to use my old & trusted perdana......
govt should abolish this loading charges....

 

[vr2turbo]

wah...susah la like that....i cannot afford new car have to use my old & trusted perdana......
govt should abolish this loading charges....

Brother, like that, we are in the same shoes. Lucky the 15 years old car to be scrap idea, have not taken off, if not lagi chialat.......

 

[DanzEterna]

if like that i think need to take bus to work....

 

[kazukimy]

my car oso ady 22years old, kinda hard to find insurance company tat wiling to insured my car,zzz
take bus?lolz.bro still got bike!!! den we will become motorcycle country,wakaka

 

[vr2turbo]

my car oso ady 22years old, kinda hard to find insurance company tat wiling to insured my car,zzz
take bus?lolz.bro still got bike!!! den we will become motorcycle country,wakaka

Yup, 3rd party insurance most of the Insurance company freeze already. 1st party still can, but for mine after 20 years old, need them to seek approval from management first before cover...
Take bus, LRT or whatever if they are up to mark. Times when my car was at the mechanic, had to take KTM. My colleague can fetch and drop me off at station near my office and the other station is just behind my house (5 minutes walk), problem is they are not reliable. Can miss timing, can cancel train in between schedule and so on....

 

[huakenny]

not necessary old car, my less than 5 yrs old car oso got loading....especially those sports car...normally got if x mistaken

 

[ExceL]

not necessary old car, my less than 5 yrs old car oso got loading....especially those sports car...normally got if x mistaken

They have a list of cars which are considered high risks as well, from Perdana, Hilux, 350z even Cayman's..

 

[vr2turbo]

Yup, those are high risk from theft. Some will get loading if got claim for accident repair before also....