Difficult to renew insurance for cars > 20years?

[fabianyee]

Here's my situation:my E30 is 1990, so this year it would be 21 years old... I went to my regular Kurnia agent to renew the insurance and it hit a snag. Their computer system only accept cars up to 20 years old. Anything older, they would need to refer to the HQ for approval.. FYI, my insurance has been comprehensive policy for all these years. Anyway, want to explore what other options are there for cars above 20 years. Last resort would be to get from post office. Heard that Takaful insures cars like these for 3rd party policy.

 

[deep3102]

Yeap, post office is your last resort, third party. My 1992 local make insurance pun same case bro.

 

[fabianyee]

Yeap, post office is your last resort, third party. My 1992 local make insurance pun same case bro.

Mind sharing what's the procedures like to get from post office?

 

[deep3102]

Well, nothing different bro. Provide them your registration card, they will insure third party with Takaful. Make your payment and thats basically it. Your policy will be given to you on the spot. The process takes less than 10 minutes, including renewing road tax.

I did mine at Ikea Post Office (Mutiara D'sara).

 

[fabianyee]

Well, nothing different bro. Provide them your registration card, they will insure third party with Takaful. Make your payment and thats basically it. Your policy will be given to you on the spot. The process takes less than 10 minutes, including renewing road tax.

I did mine at Ikea Post Office (Mutiara D'sara).

k.. thanks.. Just want to know from someone who did it.. Just to avoid from getting surprises...

 

[M3addict]

my old car (sold d) use takaful as they cover for lost & fire... not sure whether 1st or 3rd party coz the agent said no 3rd party insuranse nowadays.renew at agent outside of PJ jpj.

 

[berserkdroid]

Fabian, I called my insurance company (AXA) and they said comprehensive can renew, no issue wan...

 

[fabianyee]

Fabian, I called my insurance company (AXA) and they said comprehensive can renew, no issue wan...

Kurnia oso said can renew but insured amount has to be >RM10k and additional PA ~RM190. but with that still need to get approval from Kurnia HQ.
But I'm sure this is just Kurnia's policy on cars >20 years and not industry standard.
There shud be other insurers which would take it on without this restriction...

 

[berserkdroid]

Oooo maybe.. Coz mine is insured for 18k (should i revise this?) with windscreen 1.2k, Named Drivers, SRCC, FTH. Dunno if i should add DPPA for this year onwards as well.

As a side note, my dad's 1983 Mazda was done this february with kurnia, 3rd party with fire & theft cover as compulsory add-ons. Got it done with the kurnia agent on the spot.

 

[fabianyee]

Oooo maybe.. Coz mine is insured for 18k (should i revise this?) with windscreen 1.2k, Named Drivers, SRCC, FTH. Dunno if i should add DPPA for this year onwards as well.

As a side note, my dad's 1983 Mazda was done this february with kurnia, 3rd party with fire & theft cover as compulsory add-ons. Got it done with the kurnia agent on the spot.

hmmm... Maybe there's a change in the system after February.. Cos if on the spot means using its online system which shud b the same in all the agencies.

 

[evilnickwong]

Hmm my 1991 is due this month. Hopefully no issues with Chartis.

 

[Jules]

my 1983......had some issues as well and had to require some inside help.....plus a PA as well.

 

[fabianyee]

Hmm my 1991 is due this month. Hopefully no issues with Chartis.

depends on the company policy on this pool of cars....
Kurnia's online system only accept up to 20 years...
Chartis' maybe different....

 

[oolork]

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

 

[haywire]

This issue was brought up in Parliament few months ago...dunno whats the result of it.

 

[db8]

i need to renew my e30 (90/91) too by this week..will try my luck with etiqa

 

[gregcwho]

Had problems renewing last year already. Basically my previous insurer (P&O) declined renewal as it was their company policy. So had to go a-hunting..
Allianz & Kurnia also declined as it was 20 years old & me being a fresh case..they said it was not in their policy to offer cover to new cases of old cars...damn them!!
Finally got one of our BMWCM members to help out..took me a call & he sorted my insurance out..renewing with him this year again..the insurance was from Etiqa...comprehensive with valuation RM18,000..

For MMIP you need to go to the either the Padang Jawa Klang Puspakom or the one at PJS..you can check the Puspakom branches online BUT....only certain branches do insurance inspection. If in doubt call up the branch to confirm. At Puspakom you need to register & pay a fee..not sure how much for cars but for my bike it cost me RM30..
Also please be informed for MMIP application you need to bring along a host of documents (original & photostat) & submit together when applying... namely I/C, driving license, registration card, previous insurance policy note & the Puspakom inspection cert.

That's my experience of MMIP..

Cheers

 

[Eggie86]

Thanks for sharing Greg.

No idea how my dad manages to settle the insurance for most of the family cars, since they're mostly more than 20 years old. Mine itself already 24 years old this year.

 

[gregcwho]

Thanks for sharing Greg.

No idea how my dad manages to settle the insurance for most of the family cars, since they're mostly more than 20 years old. Mine itself already 24 years old this year.

Probably got his regular insurance agent to kaw tim for him..good repeat customer with a fleet of cars..most insurance agent will be happy to have a client like your dad..

Well..since I had some experience might as well share cos you never know..our Pos Malaysia/MMIP/Puspakom guys are not that forthcoming with info..I had to run around to compile that info..

I'll be happy if someone managed to have a hassle free experience from my info..

See you at TT tomorrow? Doesn't matter whether Teak or Papparich..

Cheers

 

[Eggie86]

Ahh I see. Thanks for the lowdown. Not that savvy about the insurance practices that's currently in place. Yep, shall see you tomorrow during TT Greg. Haha. Testdrive your newly tuned E32! :vroam:

Probably got his regular insurance agent to kaw tim for him..good repeat customer with a fleet of cars..most insurance agent will be happy to have a client like your dad..

Well..since I had some experience might as well share cos you never know..our Pos Malaysia/MMIP/Puspakom guys are not that forthcoming with info..I had to run around to compile that info..

I'll be happy if someone managed to have a hassle free experience from my info..

See you at TT tomorrow? Doesn't matter whether Teak or Papparich..

Cheers