Car Insurance Malaysia
Car Insurance Malaysia, which is also popularly known as Road Insurance or Vehicle Insurance is a type of insurance that is designed to provide coverage for injuries and damages sustained due to car accidents. Car Insurance Malaysia is the country-wide scheme operated by the Government of Malaysia to cater to the insurance needs of car owners and drivers. The policy covers a number of risks including damages due to fire, floods, storms, earthquakes and theft. Under the scheme, all vehicles are insured against certain risks. The rates vary according to the type of car insured, driving history and model.
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In Malaysia, insurance companies use several factors when determining your car insurance rate. The first and foremost factor considered by them is your driving record. A person with a good driving record is likely to enjoy a lower insurance rate than one who has a history of accidents and traffic violations. Factors such as your age, gender and marital status also have an impact on the rate. If you are married, your marital status and occupation also come into the picture.
If you own an unlicensed vehicle, you will be required to get a driver’s license before you can apply for a car insurance policy in Malaysia. In addition to this, your vehicle registration certificate will also be required to show proof of ownership. If you are a full-time student in a university, college or university campus, you will have to provide proof of enrollment from your school. Your credit score also plays a significant role in determining your car insurance rates in Malaysia. Thus, if you wish to enjoy cheaper car insurance rates, then you should keep your credit history in good condition.