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Difficult to renew insurance for cars > 20years?
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<blockquote data-quote="oolork" data-source="post: 506358" data-attributes="member: 14594"><p>Deferent Insurance Company got their underwriting guidelines. But they must get approval from BNM b4 conduct to their product & policies.</p><p>There were few deferent scenarios i heard.</p><p></p><p>1 - Some Agent that in good relation with the Insurance company & may help you to sort it out.</p><p>They can recheck with the insurance company in deferent cases. Accept or not are mostly depends to the car brand, support, risk & subject to Insurance Company approval.</p><p></p><p>2 - Some Insurance companies accept you case, but you have to get a PA or other coverage beside your 20’s years old car loading.</p><p></p><p>3 - I heard a friend pay a lot extra to the agent. Premium coverage goes to the Insurance Company + some handling fee by the Agent. (60%+40%). The 40% extra part goes to agent pocket. </p><p></p><p>You can try to check with your previous Insurance Company, call the HQ line. Tell them you are renewal case & hope to renew this year.</p><p></p><p>Heard some companies increased the coverage premium from 10k to 13k beginning April for acceptable case too.</p><p></p><p>These are some Insurance Company that I heard might sort your case early this year.</p><p>1 – Kurnia</p><p>2 – Etiqa</p><p>3 – Takaful Ikhlas</p><p>4 – MMIP (UniAsia. Multipurpose & POS were those official agents.)</p><p></p><p>The very last alternative will have to go MMIP. (MALAYSIA MOTOR INSURANCE POOL). Where motor insurance companies committed to this pool to accept special case. But the procedures is a bit complicated, where you will need to get an approval from PUSPAKOM b4 proceed to get insurance.</p><p>Check out the Web</p></blockquote><p></p>
[QUOTE="oolork, post: 506358, member: 14594"] Deferent Insurance Company got their underwriting guidelines. But they must get approval from BNM b4 conduct to their product & policies. There were few deferent scenarios i heard. 1 - Some Agent that in good relation with the Insurance company & may help you to sort it out. They can recheck with the insurance company in deferent cases. Accept or not are mostly depends to the car brand, support, risk & subject to Insurance Company approval. 2 - Some Insurance companies accept you case, but you have to get a PA or other coverage beside your 20’s years old car loading. 3 - I heard a friend pay a lot extra to the agent. Premium coverage goes to the Insurance Company + some handling fee by the Agent. (60%+40%). The 40% extra part goes to agent pocket. You can try to check with your previous Insurance Company, call the HQ line. Tell them you are renewal case & hope to renew this year. Heard some companies increased the coverage premium from 10k to 13k beginning April for acceptable case too. These are some Insurance Company that I heard might sort your case early this year. 1 – Kurnia 2 – Etiqa 3 – Takaful Ikhlas 4 – MMIP (UniAsia. Multipurpose & POS were those official agents.) The very last alternative will have to go MMIP. (MALAYSIA MOTOR INSURANCE POOL). Where motor insurance companies committed to this pool to accept special case. But the procedures is a bit complicated, where you will need to get an approval from PUSPAKOM b4 proceed to get insurance. Check out the Web [/QUOTE]
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