Insurance for 530i Sport 2003 E39

[haywire]

My car is nearly out from the port. Probably early next week. Now looking for insurance for the car. How much shall I insure it for? The Etiqa agent I contacted suggested to insure for RM100k with RM2k for windscreen insurance with 55% NCD which brings the total insurance to around RM1660. If i insure it for RM120k with RM2k windscreen insurance the total is RM1839.19.Any suggestion or other agent to contact? The problem is I need insurance companies that will accept UK NCD (I have 5 years NCD, UK doesn't use percentage only years). Tried a friend who does Prudential but they don't cover UK NCD.Would the insurance differ from one company to another or would it be around the figure above anyway? I have no experience regarding insurance in Malaysia since I have just returned to Malaysia after 7 years in the UK.[I posted the same question in my showroom thread, just thought this would be a proper place to ask though)

 

[red109]

have sent you a private msg. Do take a look.

 

[devil9]

try etiqa. unsure on NCD for cars transferred from UK.
http://www.maybank2u.com.my/mbb_inf...mbb/Personal/eINS-Insurance/eINS01-GetStarted

myeg as comparison:
https://rdtax.myeg.com.my/RHBI/formIns1.jsp?machine_no=123456&Insoption=RHBI

logically, amount shouldnt vary. However, on certain occassion, if you renew online, they tend to provide additional discount of approx 5%. I've asked for quotes between etiqa & myeg, ended etiqa gave me a slightly lower premium to pay. if memory serves me well, difference was between rm200 (+/-)

i was on NCD 55%, sum insured rm85k & windshield coverage RM1.5k, total paid RM1.277.07. Payment is online via Maybank2u to etiqa since its their subsidiary.

you can generate a quote from their online site to have an estimate. Call them subsequently to elaborate on car from UK & have them advise.

roadtax wise, shouldnt have any difference as it's based on cc.

my recent experience for sharing

 

[devil9]

ooopppp...sorry for the churn on etiqa

 

[haywire]

have sent you a private msg. Do take a look.

I dont feel comfortable contacting you because you only registered to BMWCM to contact me and sell insurance, not a genuine BMWCM member.

Thanks anyway.

 

[bmw7833]

I try to get the business from u but called my company said that they do not accept UK NCD

 

[haywire]

I try to get the business from u but called my company said that they do not accept UK NCD

I'll have to go with etiqa then. called a few of my friends and they said rm1800 is good enough for my car. I think i'll insure for RM120k with RM2k windscreen cover. OK?

 

[bmw7833]

I'll have to go with etiqa then. called a few of my friends and they said rm1800 is good enough for my car. I think i'll insure for RM120k with RM2k windscreen cover. OK?

As i mentioned before, anything above RM100K is ok even RM100K is more than enough. Ins company never pay full amount of RM120K if your car total loss. Windscreen RM2k is ok for local made windscreen, 3K for ori one bro.

 

[tongsatriani]

just to share. motor insurance rate in malaysia is the same across all companies. this is due to tariff rate system adopted.

on why certain companies is lower:
1. loading being charged (this varies)
2. discount given (up to 10%)

 

[haywire]

just to share. motor insurance rate in malaysia is the same across all companies. this is due to tariff rate system adopted.

on why certain companies is lower:
1. loading being charged (this varies)
2. discount given (up to 10%)

Thanks for that. Its just I'm not sure about car insurance in Malaysia. In UK its based on risk, if you are 22 years old yob with a traffic fine record and a 3.0 litre car, your insurance could be GBP5000 although your car is only worth GBP600. Another person who is 35 years old with no traffic fine record could insure the same car for GBP450 a year. Thats how much difference insurance can be in the UK, hence why I'm asking here.

 

[Bedok]

Thanks for that. Its just I'm not sure about car insurance in Malaysia. In UK its based on risk, if you are 22 years old yob with a traffic fine record and a 3.0 litre car, your insurance could be GBP5000 although your car is only worth GBP600. Another person who is 35 years old with no traffic fine record could insure the same car for GBP450 a year. Thats how much difference insurance can be in the UK, hence why I'm asking here.

Nope, it doesn;t have anything to do with risk or what car you driving. It all depends on the value you wanted to insure, then minus NCD and then add up any extra you need, like windscreen and others.

I knew a few places that deals with UK NCD as I brought back 3 cars (so far) and all of them have 55% NCD from Aviva.

Since your car doesnt have any outstanding loan, you can also undervalue to save on insurance.

 

[haywire]

Nope, it doesn;t have anything to do with risk or what car you driving. It all depends on the value you wanted to insure, then minus NCD and then add up any extra you need, like windscreen and others.

I knew a few places that deals with UK NCD as I brought back 3 cars (so far) and all of them have 55% NCD from Aviva.

Since your car doesnt have any outstanding loan, you can also undervalue to save on insurance.

If I insure for RM100k it only differs by RM180 so not sure of its worth it.

Probably go for the middle and insure for RM110k then?

 

[gilajazz]

bro haywire,

Important thing is to check with the insurance agents (maybe Alliance, or check with Peter aka Black E90) and ask how much yr car is worth now/today in line with the car manufacture date. If the 2nd hand value now is only RM100k, then of course if you insure at RM110k, you are going to waste the extra RM10k insurance value, as insurance co. will only pay up to the value of the car at the time of transaction.

And of course if we undervalue the car, that's also a disadvantage in case of loss, you only get back the value of yr insured amount.

Hope this helps.

cheers.

 

[haywire]

too late now as I've already paid the insurance. Total sum insured 120k with 2k windscreen insurance. Will review it next year when I'm more familiar with the value of the car.

I understood the system, its just that I dont know the market value of my car.

Thanks anyway.