All you want to know about... MOTOR INSURANCE
| MOTOR INSURANCE PREMIUM CALCULATION |
PRIVATE CAR TARIFF
(All rates are quoted in RM Ringgit Malaysia)
| PRIVATE CAR SCHEDULE OF PREMIUMS | ||||
|
WEST MALAYSIA |
EAST MALAYSIA |
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| Cubic Capacity (cc) Not Exceeding | *Comprehensive (Rate for first RM1,000 sum insured) | Third Party | **Comprehensive (Rate for first RM1,000 sum insured) | Third Party |
| 1400 | 225.20 | 72.00 | 172.20 | 43.50 |
| 1650 | 251.50 | 81.00 | 192.40 | 48.00 |
| 2200 | 277.90 | 90.00 | 212.70 | 54.00 |
| 3050 | 304.20 | 99.00 | 232.90 | 60.00 |
| 4100 | 330.50 | 108.00 | 253.20 | 64.50 |
| 4250 | 356.80 | 117.00 | 273.40 | 70.50 |
| 4400 | 383.20 | 126.00 | 293.70 | 75.00 |
| over 4400 | 409.50 | 135.00 | 313.90 | 81.00 |
*For West Malaysia, Comprehensive rate (from table above) + RM26 for each RM1,000 or part thereof on value exceeding the first RM1,000
**For East Malaysia, Comprehensive rate (from table above) + RM20.30 for every RM1,000 value exceeding the first RM1,000
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EXAMPLE |
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| Sum Insured:
RM50,000 Make & Model: Proton Wira
1.5 Age of vehicle: 4 years
Cubic Capacity: 1468 NCD: 25% |
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(Premium Computation) |
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|
Comprehensive Cover (Individual) |
Third Party Cover (Individual) |
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| (a) 1st 1,000 |
RM 251.50 |
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| (b) + 26 x 49,(000) |
RM 1,274.00 |
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| (c) Basic Premium = a + b |
RM 1,525.50 |
[a] Basic Premium |
RM 81.00 |
| (d) less NCD 25% |
RM 381.37 |
[b] Loading 50% = a x 50% |
RM 40.50 |
|
(e) Gross Premium = c - d |
RM 1144.13 |
[c] Gross Premium = a + b |
RM 121.50 |
| (Additional Benefits) - Optional | [d] less NCD 25% = c x 25% |
RM 30.38 |
|
| (f) Windscreen Breakage (15% of Sum insured RM500) |
RM 75.00 |
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| (g) Total Premium = e + f |
RM 1,219.13 |
[e] Total Premium = c - d |
RM 91.13 |
| (h) Stamp Duty |
RM 10.00 |
[f] Stamp Duty |
RM 10.00 |
| Total Amount Payable = g + h |
RM 1,229.13 |
Total Amount Payable = e + f |
RM 101.13 |
Note: The above rates are for private owned vehicles only and may differ from the actual premium. Coverage is subject to acceptance by the insurance company. A 5% Service Tax (calculated based on the Total Premium) is applicable to private vehicle registered under Company Name. With effect from 01/01/2001, the Stamp Duty payable is RM10. The minimum premium payable is RM50 (excluding stamp duty).
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