Is your car covered for damages due to floods? Do you know whether cover for flood is included with your car insurance? Or is it an option you can add on? Not many are aware of this. But knowing whether your car is covered for floods or not is vitally important.
The recent floods in Malaysia have damaged many vehicles. The cost to set everything back to normal, ranging from the contents at home to repairing your car is quite high.
The fact is the most car insurance policies exclude coverage for damages caused by natural disasters. Do you have to take up additional cover which would cost your extra premium? Let’s see the reasons why a flood cover for your car is important.
List of Insurers Who Provide Flood Cover In Malaysia
- AIA Car Insurance
- Allianz Car Insurance
- Etiqa Takaful Car Insurance
- Maybank Car Insurance
- Tune Car Insurance
- Ambank Car Insurance
- Tokio Marine Car Insurance
- Chubb Car Insurance
- Alliance Car Insurance
- Zurich Car Insurance
Why Take Flood Cover
- Floods Are Frequent: Malaysia faces two monsoons in a year. One during May to September and the other during November to March. Flooding is common especially in low-lying terrains. States such as Perlis, Kelantan, Kedah and Terengganu are more prone to floods when compared with other states. With heavy rains for months, a flood cover is essential.
- Cost for Repairs: Though no one can predict the exact level of damage caused by a flood to your car, you can be sure that the cost for repairs will be quite high. If your policy does not cover the damages caused by flood, you have to spend a huge amount for any repair. A flood cover will save you that money.
- Flood Not Covered: Car insurance do not cover damages caused to your vehicle due to floods. Even a comprehensive cover does not have flood cover by default. Don’t wait for floods to damage your car to think about flood cover. Plan ahead to be protected during floods.
How Much Does it Cost
A flood cover is optional. Adding it to your policy means additional premium. There are no standard rates for flood cover. Each insurer would give you a quote based on your sum insured, car market value and your driving history.
Compare quotes using an online premium calculator. Most insurers provide an online calculator on their website. Key in relevant details and add the optional flood cover to get a quote.
Benefits of Taking up Flood Cover for Your Car
- Get covered for car repairs due to damages caused by flood.
- Get cover for damages caused by other natural calamities such as landslides, storms or hurricanes.
- Get access to a panel of approved workshops for your car repairs.
- Save money that you otherwise would spend on repairs.
A flood cover does seem essential for the Malaysian climate. A flood cover also covers your car for damages caused by other natural disasters. You need not run around during floods to get your car repaired. You don’t have to spend any savings on your car repairs. Get on touch with your insurer to get a quote to add a flood cover.