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Message: <blockquote data-quote="astroboy" data-source="post: 260450" data-attributes="member: 4527">Technically, general insurance works on the basis of "replacement value". Say u have a 10 year old car, one of your door need replacement due to accidental damage, insurance company will reimburse u with a 10 year old door, or equivalent value. If u want to buy new door, u must top up. I think its fair. U lost a 10 year old car, insurance company cannot be replacing you with a new car wat.. <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite8" alt=":D" title="Big Grin    :D" loading="lazy" data-shortname=":D" />My question is if I buy a brand new E90 today, say December 2007, for RM220k, I buy insurance to cover RM220k but (touch wood) car got stolen in a month's time. Why couldn't I claim full? Why must I lost RM22k (normally they will knock 10% off from the new price in our claims). What kind of insurance can I buy to cover this RM22k, I'm suppose to transfer my risk to them wat? I don't mind if Insurance company to reimburse me with another similar condition December 2007 E90. What is the use of the insurance when the claim is insufficient to cover my losses, in this case, to get another replacement similar year and condition E90?Now it seems the motor insurance is working like a used car dealer. U lost ur car meaning u sold ur car to them, against your will, at the buyer's price, which is how the 10% discount is explained...There's this clause in the "standard" motor insurance policy called "Agreed Value", which many has removed to safe guard their interest. Now not all insurance policy has it, what it means is when vehicle is lost, agreed value will be reimbursed, in this case, the full sum insured la! Check with ur agent today. No? then terminate them! I am terminating mine next year. 1st year no choice.. <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite3" alt=":(" title="Frown    :(" loading="lazy" data-shortname=":(" /></blockquote>

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